Canadian Risk Management Designation
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 awarded by the Risk and Insurance Management Society (RIMS). RIMS 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 virtual 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 RIMS verify that CRM candidates possess a consistent level of knowledge.
Each of the 100-minute CRM standardized virtual exams include multiple choice questions, and 70% is considered a passing score. Once the student completes the exam, a pass/fail message will appear.
NOTE: The 2019 revision of the ARM designation curriculum and new study material does NOT align with the CRM designation requirements. The CRM course textbook material was rebranded with a red cover in 2019, to avoid confusion with the old blue ARM textbooks.
Recognition of the CRM as the basic risk management educational designation in Canada makes it increasingly important to deliver consistent and recognized foundational learning objectives across the country. To maintain consistency, RIMS must ensure the quality and delivery of the three risk management courses offered at participating universities and educational institutions.
The content and learning objectives for the CRM courses are provided through the textbooks written and published by The Institutes. The textbooks provide the necessary groundwork to ensure all professionals who have earned the CRM designation have the same fundamental knowledge and training.
- CRM-54 Risk Management Principles and Practices (3rd Edition)
- CRM-55 Risk Assessment and Treatment (2nd Edition)
- CRM-56 Risk Financing (6th Edition)
The material in these textbooks is required learning for candidates to be eligible for the CRM designation. CRM course instructors are entitled to use supplementary material, but they are not permitted to deliver these courses without using the required textbooks as the primary collateral. All instructors employed by participating universities and institutions need to be CRM holders.
As of 9/30/23, the Risk and Insurance Management Society (RIMS) will award the CRM Designation instead of GRMI. The CRM program textbooks, exam material, testing platform and url links are NOT changing. Most of the CRM webpages referenced below have been updated. The Institutes will work on making revisions during the transition period, so GRMI is replaced with RIMS. Credly is also working on updating its digital badge site.
RIMS will issue the CRM credential, and a digital badge to anyone that meets the designation eligibility requirements. CRM candidates need to complete the three courses offered by one of the CRM Course Providers pass three virtual CRM standardized exams, email a course transcript to CRM@rims.org and submit a $100 (USD) one-time registration fee. The CRM standardized exam fee is $175 (USD) for RIMS members, and $195 (USD) for non-members. RIMS will continue to send emails to candidates that provide instructions on each step of the process.
