# Fin-PRM: A Domain-Specialized Process Reward Model for Financial Reasoning in Large Language Models

arXiv: https://arxiv.org/abs/2508.15202 · HTML: https://mlsanity.com/paper/2508.15202/

## Key facts

- Cited by 7 papers in the map (data through 14 Oct 2026).
- Placed in Reasoning for agents, planning and code, one of 17 directions in LLM reasoning.
- Builds on 26 of its 32 references that are in the map.
- First posted on arXiv 21 Aug 2025.

## Placed in

- LLM reasoning / [Reasoning for agents, planning and code](https://mlsanity.com/lr/reasoning-for-agents-planning-and-code/)
- LLM alignment / RLHF / preference optimisation / [Process reward models for reasoning](https://mlsanity.com/alignment/process-reward-models-for-reasoning/)

## Builds on (most cited first, 26 of 26)

- [DeepSeekMath: Pushing the Limits of Mathematical Reasoning in Open Language Models](https://mlsanity.com/paper/2402.03300/) (2024)
- [Judging LLM-as-a-Judge with MT-Bench and Chatbot Arena](https://mlsanity.com/paper/2306.05685/) (2023)
- [DeepSeek-R1: Incentivizing Reasoning Capability in LLMs via Reinforcement Learning](https://mlsanity.com/paper/2501.12948/) (2025)
- [Let's Verify Step by Step](https://mlsanity.com/paper/2305.20050/) (2023)
- [Training a Helpful and Harmless Assistant with Reinforcement Learning from Human Feedback](https://mlsanity.com/paper/2204.05862/) (2022)
- [Scaling LLM Test-Time Compute Optimally can be More Effective than Scaling Model Parameters](https://mlsanity.com/paper/2408.03314/) (2024)
- [A Survey on LLM-as-a-Judge](https://mlsanity.com/paper/2411.15594/) (2024)
- [Math-Shepherd: Verify and Reinforce LLMs Step-by-step without Human Annotations](https://mlsanity.com/paper/2312.08935/) (2023)
- [Solving math word problems with process- and outcome-based feedback](https://mlsanity.com/paper/2211.14275/) (2022)
- [EDA: Easy Data Augmentation Techniques for Boosting Performance on Text Classification Tasks](https://mlsanity.com/paper/1901.11196/) (2019)
- [MetaMath: Bootstrap Your Own Mathematical Questions for Large Language Models](https://mlsanity.com/paper/2309.12284/) (2023)
- [WizardMath: Empowering Mathematical Reasoning for Large Language Models via Reinforced Evol-Instruct](https://mlsanity.com/paper/2308.09583/) (2023)
- [Textbooks Are All You Need](https://mlsanity.com/paper/2306.11644/) (2023)
- [Process Reinforcement through Implicit Rewards](https://mlsanity.com/paper/2502.01456/) (2025)
- [LIMO: Less is More for Reasoning](https://mlsanity.com/paper/2502.03387/) (2025)
- [The Lessons of Developing Process Reward Models in Mathematical Reasoning](https://mlsanity.com/paper/2501.07301/) (2025)
- [DoReMi: Optimizing Data Mixtures Speeds Up Language Model Pretraining](https://mlsanity.com/paper/2305.10429/) (2023)
- [Orca: Progressive Learning from Complex Explanation Traces of GPT-4](https://mlsanity.com/paper/2306.02707/) (2023)
- [OpenThoughts: Data Recipes for Reasoning Models](https://mlsanity.com/paper/2506.04178/) (2025)
- [Rewarding Progress: Scaling Automated Process Verifiers for LLM Reasoning](https://mlsanity.com/paper/2410.08146/) (2024)
- [FinGPT: Open-Source Financial Large Language Models](https://mlsanity.com/paper/2306.06031/) (2023)
- [Can 1B LLM Surpass 405B LLM? Rethinking Compute-Optimal Test-Time Scaling](https://mlsanity.com/paper/2502.06703/) (2025)
- [Process Reward Models That Think](https://mlsanity.com/paper/2504.16828/) (2025)
- [ReasonFlux-PRM: Trajectory-Aware PRMs for Long Chain-of-Thought Reasoning in LLMs](https://mlsanity.com/paper/2506.18896/) (2025)
- [Benchmarking Large Language Models on CFLUE -- A Chinese Financial Language Understanding Evaluation Dataset](https://mlsanity.com/paper/2405.10542/) (2024)
- [DianJin-R1: Evaluating and Enhancing Financial Reasoning in Large Language Models](https://mlsanity.com/paper/2504.15716/) (2025)

## Built on by (most cited first, 7 of 7)

- [A Survey of Process Reward Models: From Outcome Signals to Process Supervisions for Large Language Models](https://mlsanity.com/paper/2510.08049/) (2025)
- [Reward Modeling for Reinforcement Learning-Based LLM Reasoning: Design, Challenges, and Evaluation](https://mlsanity.com/paper/2602.09305/) (2026)
- [PRInTS: Reward Modeling for Long-Horizon Information Seeking](https://mlsanity.com/paper/2511.19314/) (2025)
- [Rewarding the Scientific Process: Process-Level Reward Modeling for Agentic Data Analysis](https://mlsanity.com/paper/2604.24198/) (2026)
- [interwhen: A Generalizable Framework for Steering Reasoning Models with Test-time Verification](https://mlsanity.com/paper/2602.11202/) (2026)
- [VeriBound: PAC-Bayesian Generalization Bounds for Process Reward Models Trained with Formal Verification Tools](https://mlsanity.com/paper/2606.20740/) (2026)
- [TDHook: A Lightweight Framework for Interpretability](https://mlsanity.com/paper/2509.25475/) (2025)

## Abstract (arXiv)

Process Reward Models (PRMs) supervise intermediate reasoning steps in large language models (LLMs), but existing PRMs are mainly trained on general-domain data and struggle with the structured, symbolic, and fact-sensitive nature of financial reasoning. Financial tasks require not only correct final answers but also verifiable intermediate steps grounded in domain knowledge. In this paper, we propose Fin-PRM, a domain-specialized, trajectory-aware PRM for financial reasoning that jointly models step-level correctness and trajectory-level coherence, producing binary supervision signals for both local and global reasoning quality. To support reliable supervision, we construct a high-quality financial reasoning dataset of 3K trajectories, where step- and trajectory-level labels are automatically derived from multi-source reward signals, including Monte Carlo rollouts, LLM-based evaluation, and explicit financial knowledge verification. Fin-PRM defines a unified ranking score that integrates step- and trajectory-level rewards, enabling consistent use across multiple settings. We evaluate Fin-PRM in three scenarios: (1) offline trajectory selection for supervised fine-tuning, (2) reward-guided Best-of-N inference for test-time scaling, and (3) process-aware reward shaping for reinforcement learning. Experiments on financial reasoning benchmarks, including CFLUE and FinQA, show that Fin-PRM consistently outperforms general-purpose PRMs and strong baselines. Our project resources will be available at https://github.com/aliyun/qwen-dianjin.