Certified Risk Manager
Certified Risk Manager (CRM) is a professional designation in finance. This certification is for those working in risk management and related fields, such as financial, insurance, loss control, legal, accounting, and claims specialists. The CRM Program is conducted by National Alliance for Insurance Education and Research.
As of December 2012 there were 3,349 active CRM designees. The CRM is earned after the completion of five practically oriented courses; approximately 70 courses are scheduled in cities across the United States every year. Once the designation is achieved, annual updates are require d by attending a related 2 ½-day course, an annual continuing education requirement.
To earn the CRM designation, participants must complete five courses as below and pass the examinations within five calendar years. Each 2 ½-day course incorporates the use of case studies and integrates the direct application of risk management techniques. Each of the five courses concludes with an optional 2-hour essay examination, which is required for those interested in achieving the designation.
- Principles of Risk Management is usually the first course participants take. It gives an overall knowledge of the risk management process.
- Analysis of Risk teaches participants to analyze and measure exposures and loss data
- Control of Risk builds proficiency in safety, alternative dispute resolution, Employment Practices Liability, and crisis management.
- Financing of Risk compares and studies various financing options and helps attendees learn to deliver the message to management in present value dollars.
- Practice of Risk Management consolidates all aspects of risk management, including implementing and monitoring the risk management process in an organization.
Note that although the program covers the basic concepts of risk management the actual test is developed from the material that is covered in the class as opposed to a recognized standard that many other certifications and designation require. Incorrect information or methodologies may be presented by a speaker and although the information is inaccurate, students will be tested on those inaccuracies.
- American Risk and Insurance Association
- Asia Risk Management Institute (ARiMI)
- Association of Insurance and Risk Managers in Industry and Commerce
- Global Association of Risk Professionals
- Institute of Risk Management
- Professional Risk Managers' International Association
- Risk and Insurance Management Society
- Certified Risk Analyst (CRA)
- Certified Compliance Risk Officer (ARiMI-CCRO)
- Certified Enterprise-wide Risk Manager (ARiMI-CERM)
- Certified Professional Risk Manager (ARiMI-CPRM)
- Certified Project Risk Planner (ARiMI-CPRP)
- Certified Risk Analyst (ARiMI-CRA)
- Chartered Enterprise Risk Actuary (CERA; Institute and Faculty of Actuaries credential)
- Chartered Enterprise Risk Analyst (CERA; Society of Actuaries credential)
- Financial Risk Manager (FRM)
- International Diploma in Risk Management (MIRM designation; ERM focused)
- Certificate in Quantitative Finance
- Professional Risk Manager (PRM)