Professional Risk Managers' International Association

Professional Risk Managers' International Association

Abbreviation	PRMIA
Formation	2002
Type	not-for-profit organization
Purpose	Risk Management Education and Certification
Headquarters	Northfield, Minnesota
Coordinates	44°26′24.55″N 93°11′12″W / 44.4401528°N 93.18667°W / 44.4401528; -93.18667
Region served	Worldwide
Membership	50,000
Official language	English
Chair	David Coleman
CEO	Justin C McCarthy
Website	www.prmia.org
[1][2]

The Professional Risk Managers' International Association (PRMIA) is a non-profit, member-driven

The Professional Risk Manager (PRM) designation is a professional certification offered by PRMIA. ^{[4] [5]} The designation was first awarded in 2004. The PRM is an "independent validation" of skills within the

The exams are computer-based and the questions are all multiple choice; the passing grade is 60%. The exams must be completed over a period of up to two years; they are offered during four specific testing windows per year.[9] Historic individual exam pass rates, under the pre-2019 structure, were 54% for Exam II (mathematics), 59% for Exams I and III (finance, and risk management), and 78% for Exam IV (standards and case studies);^[10][11] with an overall completion-rate of just over 65%.^[10] 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:

Other programs

Since 2022, PRMIA offers the ORM Designation, focusing on the "skills and capabilities" of the Operational Risk Manager role. The designation requires 2 exams, 8 hours in total, 1 year of direct operational risk experience, and a combination of 4 year's other work experience or completed degrees. As for the PRM, Designates must submit 20 CRL credits each year.

PRMIA offers various stand-alone certificate programs designed to give a focused and foundational understanding of various areas of risk management.^[13] As for the PRM, the passing score for these is 60%. The computerized tests are offered on all business days. To maintain certification one is required to uphold PRMIA’s professional and ethical standards.

• The "Associate PRM" covers the core risk management concepts in a less mathematical fashion than the PRM, "allowing non-specialists to interpret risk management information and reports".
  ISBN 0071429662
  ).
• The "Operational Risk Manager Certificate" prepares managers to "implement risk assessment initiatives, produce risk management information and understand basic modeling techniques"; this is an entry level certificate, as distinct from the Designation above. The exam is 2 hours duration. Preparation is the practitioner-authored Operational Risk Manager Certificate Handbook. ORM Online Training is also available.
• The "Credit and Counterparty Risk Manager" Certificate focuses on a practical understanding of credit risk analysis frameworks within financial institutions. The program is designed to be relevant to credit risk staff, as well as to financial controllers, and compliance and legal officers. The exam is 2 hours duration. Preparation is the Credit and Counterparty Risk Manager Handbook.
• The "Market, Liquidity and Asset Liability Management Risk Manager Certificate" covers the areas of
  asset liability management
  , and similarly focuses on application in financial institutions. The exam is 2 hours duration. Preparation is the Market, Liquidity and Asset Liability Management Risk Manager Handbook.

See also

References

External links

• Official website
• PRMIA Standards of Best Practice, Conduct and Ethics
• Individual Chapters:
  • New York Chapter
  • Vancouver Chapter
  • Montreal Chapter
  • London Chapter