Canadian Risk Management Designation

Bow Valley College provides risk management courses which are eligible for the Canadian Risk Management (CRM) designation. The CRM is a national designation that is recognized by the Risk and Insurance Management Society, Inc. and awarded by the Global Risk Management Institute (GRMI). To obtain a CRM designation, students must complete three risk management courses available at Bow Valley College. These courses are available through Open Studies or to students registered in the Business Administration Diploma, Insurance and Risk Management Major: 

  • FNSR2401 Risk Management Principles & Practices
  • FNSR2402 Risk Assessment & Treatment
  • FNSR2403 Risk Financing

 

Program and Process Changes

Process A expires December 31, 2016, so all CRM candidates are required to pass the three CRM standardized exams to qualify for the CRM designation.

The existing $130 (USD) CRM standardized exam fee will change to $155 (USD) for RIMS members and $175 (USD) for non-members effective October 1, 2018. Candidates will access an online portal, select one of the three standardized exams, and pay the fee by credit card instead of submitting a cheque by mail.

Exam date changes within the same testing window will need to be completed online with Prometric:

  • The exam fee will be forfeited if candidate is a no-show, cancels or reschedules an exam less than 3 business days in advance of the scheduled test date.
  • The exam fee will be refunded if candidate cancels 13 or more business days before the scheduled test date.

A fee of $50 (USD) will be charged if the candidate changes the testing window. All testing window changes need to be submitted to GRMI@RIMS.orgCandidates are no longer required to notify GRMI when they register for a CRM course.

A fee of $50 (USD) will be charged if the candidate changes the testing window. All testing window changes need to be submitted to GRMI@RIMS.org. Candidates are no longer required to notify GRMI when they register for a CRM course.

After completing the three courses and passing the exams, the candidate needs to submit a transcript to GRMI to be awarded the CRM designation.

About the CRM Designation

The Canadian Risk Management (CRM) designation is a widely recognized qualification that provides risk managers a foundation of knowledge and skills needed to identify, assess, monitor and limit risks. The CRM is recognized by the Risk and Insurance Management Society (RIMS) and awarded by the Global Risk Management Institute (GRMI). GRMI sets policy for the CRM designation and maintains the records of its credentialed members. Attaining the CRM designation demonstrates a level of professional commitment, knowledge and skills that employers in both public and private sectors recognize.


Why earn the CRM Designation?

Competitiveness: Formal training gives CRM holders a competitive advantage that employers seek.

Credentials: Demonstrates that CRM holders have achieved the knowledge and skills necessary to identify, assess, monitor and limit risks.

Recognition: CRM holders stand out among others in a competitive marketplace.

Advancement: Improves the ability of CRM holders to achieve their organization's risk management objectives and their career goals.


Eligibility

To earn the CRM designation, candidates must complete the three foundational courses and pass standardized exams for each course (standardized exams are in addition to any exams administered by the university or institution as part of their course curriculum). The exams evaluate level of knowledge based on the content covered in the required textbooks. The three standardized CRM exams administered separately by GRMI verify that CRM candidates possess a consistent level of knowledge. The exams will be available at Prometric Testing Centers during four testing windows each year:

  • January 15 - March 15
  • April 15 - June 15
  • July 15 - September 15
  • October 15 - December 15

Each of the two-hour CRM standardized exams include multiple choice questions, and 70% is considered a passing score. Once the student completes the exam, a pass/fail message will appear.

Steps for Attaining the CRM Designation
  1. Create an online profile with RIMS
  2. Enrol in each course at a university or institution that offers the required CRM courses listed below:
            Risk Management Principles and Practices
            Risk Assessment and Treatment
            Risk Financing 
    NOTE: The CRM course tuition charges vary from one institution to another, and are not paid to the Global Risk Management Institute (GRMI).
  3. Access CRM registration page, select an exam, and pay the testing and processing fee by credit card.
  4. GRMI will issue Prometric testing center location options and access instructions via email.
  5. Candidate enters the access code sent by email from GRMI into the Prometric site, selects an exam date, time, and location. Candidate needs to carefully review the information contained in the Prometric Confirmation Notice. If any of the information is incorrect or if the information has changed, they need to contact GRMI at: GRMI@RIMS.org. Testing center schedule changes need to be completed on the Prometric site. NOTE: Please allow two weeks to receive the Prometric access code.
  6. Once the candidate receives a passing score of 70% on all three exams, they need to mail a transcript grade report from the university or institution to GRMI at 5 Bryant Park, 13th Floor, New York, NY, 10018, USA.

To avoid delays, candidates may schedule their standardized exam(s) prior to finishing each course. However, please note that the CRM designation will not be awarded until courses & standardized exams are completed and final transcripts submitted. 

Note: Please allow up to six weeks for processing of application materials. 

To change your CRM Examination window, click here for details.

Based on the eligibility requirements, a CRM candidate will need to pass the three CRM standardized exams, mail in an official copy of their transcript or grade report to GRMI, and submit a $100 (USD) registration fee to obtain the CRM credential an digital badge. 

Maintaining Continued Standing

Effective October 1, 2018, CRM designation holders will not be required to maintain a membership with the GRMI organization. GRMI will issue the CRM credential to individuals that register their CRM with GRMI. In lieu of ongoing dues, GRMI is reinstating the $100 (USD) one-time CRM designation registration fee that was required before the standardized exams were implemented.  

Although the CRM does not require continuing education credits, all GRMI members will receive an annual $100 rebate when they attend a RIMS in-person workshop to further their professional development. Visit www.RIMS.org/Education for more information.

For more information on the Canadian Risk Management (CRM) designation, visit the Risk Management Society.

 

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