Information Risk Management Certification

The better your risk management skills, the longer your pieces stay in play.

According to a risk management certification evaluation done for the United States Agency for International Development (USAID), the risk management certification programs most recognized internationally are those offered by the Global Association of Risk Professionals, the Professional Risk Managers Association and the Bankers Association Institute.

Global Association of Risk Professionals

GARP offers a financial risk manager certificate to professionals from all disciplines. Exams can be taken worldwide. Cost is $500 (as of 2010), with the fee including a one year GARP membership. Applicants for certification must prove two years professional experience in their field.

Professional Risk Managers International Association

PRMIA offers the professional risk manager certification to risk managers in any discipline. There are four exams, taking four-and-one-half hours to complete in total. Exams may be taken all at once or they may be taken at intervals. In the later case, the final exam must be taken within two years of the first exam. Cost is $500 (as of 2010), which includes the PRMIA membership fee, plus $195 for each exam, for a total of $1,280.

Bankers Association Institute

The BAI grants certified risk professional certification to risk managers in the financial services discipline. The certificate is earned by successfully completing three exams: two core tests and one specialty-specific exam. The core exams can be taken separately or in a single day. The specialty test must be taken separately from the other two. Cost is $500 for BAI members and $600 for financial risk managers who are not BAI members (as of 2010).

References

• Evaluation of Risk Management Certification Programs

Resources

• Professional Risk Managers Association
• Bankers Association Institute
• Global Association of Risk Professionals