Professional Risk Managers' International Association

Professional Risk Managers' International Association (PRMIA)
Established 2002
Type Nonprofit Professional Organization
Location Northfield, Minnesota, United States
Website www.prmia.org
Organisational structure
Board of Directors
  1. Faruk Patel, Chair
  2. Justin McCarthy, Vice Chair
  3. Robert Mark
  4. Oscar McCarthy
  5. Dominik Dersch
  6. Wilson Fyffe
  7. Saurabh Mathur
  8. Ken Radigan
  9. Robert Reitano
  10. Kevin Kuff, Ex Officio
Global Council
  1. Mihaela Capra, Chair AMER - America's
  2. Fahad Zafar, Chair APAC - Asia Pacific
  3. Monika Smatralova, Chair EMEA - Europe
  4. Justin McCarthy
  5. Mark Abbott
  6. Navin Sharma

The Professional Risk Managers' International Association (PRMIA) is a non-profit organisation focused on the "promotion of sound risk management standards and practices globally", and "the integration of practice and theory";[1] it was founded in 2002.[2] It provides certification and credentialing for professional risk managers, as well as other educational programs and resources. It currently has more than 50,000 members in 180 countries [3] represented by nearly 60 chapters worldwide.

Professional Risk Manager

The Professional Risk Manager (PRM) designation is an international professional certification offered by PRMIA.[4] The designation was first awarded in 2004. The PRM is an "independent validation" of skills within the financial risk management profession, additionally requiring a commitment to professional ethics. The PRM and GARP's FRM are often compared as being the two definitive risk management designations in the industry.[5]

Candidates are required to pass four exams:

The exams are computer-based and the questions are all multiple choice; the passing grade is 60%. The exams can be taken in any order and must be completed over a period of up to two years; they are offered during four testing windows per year, each of three weeks (prior to 2014, on any business day of the year).[6] The recommended reading material is the Professional Risk Managers' Handbook (ISBN 0976609703), edited and authored by various practitioners and academics,[7] including Salih Neftci and Paul Wilmott. The PRM program recognizes other professional designations and gives partial credit to "cross-over" candidates, as well as to graduates of select university programs.

Minimum experience requirements are:[8] four years without a bachelor's degree; two years for those with bachelor's degrees; no requirements for holders of a graduate degree (i.e. MBA, MSF, MQF etc.) or of an accepted professional designation (CFA, CAIA, CQF, etc.).

Associate PRM

The Associate Professional Risk Manager (Associate PRM) is a certificate program which covers the core concepts in a less mathematical fashion, "allowing non-specialists to interpret risk management information and reports".[9] A single exam is required; the recommended text is The Essentials of Risk Management (ISBN 0071429662).

Operational Risk Manager Certification

As of 2015, PRMIA offers the Operational Risk Manager Certification (ORM). The ORM is a stand-alone certificate, preparing managers to implement risk assessment initiatives, produce risk management information and understand basic modeling techniques. The exam is 2 hours duration, with a pass mark of 60%. Preparation is the practitioner authored Operational Risk Manager Certificate Handbook.

See also

Institutions

Certifications

References

  1. ↑ PRMIA Charter | Professional Risk Managers' International Association - PRMIA
  2. ↑ GARP Scandal: Global Association of Risk Professionals
  3. ↑
  4. ↑ Home | Professional Risk Managers' International Association - PRMIA
  5. ↑ PRMIA
  6. ↑ PRM Candidate Guidebook
  7. ↑ "PRMIA PRM Handbook - Author Biographies". Archived from the original on 2012-01-21.
  8. ↑ prmia.org: Changes to the PRM Exam
  9. ↑ Home | Professional Risk Managers' International Association - PRMIA

External links