Certified Risk Management Professional (CRMP) Examination Scheme

Overview

The risk management professional examination scheme intends to build and nurture necessary competence for Risk Management strategist. It provides knowledge and skills in the use and application of risk management tools and nurture the details of Risk management and internal control framework. It covers the knowledge and skills on utilization of Risk Management techniques for effective decision making and provides competence and proficiency necessary for identifying and solving complex Risk situations such as fraud, project, procurement and other corporation areas in a multi discipline business environment.

The examination scheme intends to cover the meaning, scope and purpose of Risk Management, Risk Management framework, risk governance, risk aware culture, risk assessment, risk response and insurance, operational risk management, risk assurance, risk analytics and future of risk management.

The Risk Management Professional Examination Scheme shall consist of 150 weighted multiple choice questions and two written case studies question with a total score of 500 points where the pass mark is 375 points. The Examination will usually take three hours.

Module I: Meaning, scope and purpose of Risk Management

1. Definition of Risk
2. Impact of Risks on Organization
3. Practical Aspects of risk management (lessons learned)
4. Origins of Risk Management
5. Principles, Standards and Objectives of Risk Management
6. Risk Management Regulatory Framework
7. Enterprise Risk Management

Module II: Risk Management Framework

1. Risk architecture, strategy and protocol
2. Establishing the Context
3. Risk Management Tools
4. Designing and use Risk Register
5. Public Sector Risk Management

Module III: Risk Governance

1. Corporate Governance
2. Corporate governance models
3. Governance evaluation
4. Role of the Board and Current Board Practices
5. The Last Line of Defense
6. Stakeholders expectations

Module IV: Risk Aware Culture

1. Meaning of risk culture
2. Risk culture and risk strategy
3. Risk maturity models
4. Risk training and risk culture
5. Risk Management Information System
6. Risk information and communication
7. Risk Response

Module V: Risk Assessment

1. Importance of risk assessment
2. Approaches to risk assessment
3. Risk Classification systems
4. Risk likelihood and impact
5. Loss control
6. Defining the upside of risk
7. Business continuity

Module VI: Risk Response and Insurance

1. Enterprise Risk Management
2. Importance of risk appetite
3. Tolerate, treat, transfer and terminate
4. Risk Control techniques
5. Control of selected hazard risks
6. Insurance and risk transfer

Module VII: Operational Risk Management

1. Operational Risk – Definition and Scope
2. Basel II
3. Measurement of operational risks
4. Developments in operational risks
5. Project Risk Management
6. Supply Chain Risk Management
7. Fraud Risk Management
8. Ensuring compliance

Module VIII: Risk Assurance

1. Evaluation of the control environment
2. Risk assurance techniques
3. Role of internal audit function in risk management
4. Reputation and the business model

Module IX: Basic Risk Analytics (Financial Services Risk)

1. Risk Control Analytics
2. Risk Optimization Analytics
3. Approaches to Risk Measurement
4. Fundamentals of Time Series Analysis
5. Extreme Value Theory and Multivariate Models
6. Market Risks, Credit Risk and Portfolio Credit Risk Management
7. Operational Risk and Insurance Analytics
8. GRC Systems

Module X: The Future of Risk Management

1. Risk Management checklist
2. Information Technology Risk Management
3. The future of risk management
4. Risk Management automation
5. Financial Institutions Risk Management
6. Energy Firms Risk Management
7. Risk Based Decision Making
8. Risk Management Competency framework