CRM is a professional designation that is earned after the completion of specified theory and practice oriented courses. This certification is for those working in risk management and related fields such as Finance, Insurance, Financial Control, Legal, Accounting, and Compliance. In addition, Consultants and Business Line Staff can also undergo the programme. Each course incorporates the use of case studies and integrates the direct application of risk management techniques. The certification programmeis called Certified Risk Manager (CRM). Upon completion of the three stages of the examination, the candidate signs off on RIMAN's Code of Conduct & Ethics before he/she is fully registered as a Certified Risk Manager (CRM).
CRM Stages I, II and III are multiple choice examination with 30 questions per module. The examination will be offered in only two centres, Lagos and Abuja.
Each stage is designed to have two perspectives, the global perspective of risk management and the Nigerian perspective of risk management.
Stage I Global Content -Fundamentals of Risk Management: Examines the background, models, mathematical foundations and financial theories/concepts that underlie risk management.
Stage I Nigerian Content - The Nigerian Banking System: Examines the structure and nature of the Nigerian banking system with emphasis on risk management practices in the Nigerian banking systems.
Stage II Global Content - Managing Core Risks: Provides a detailed framework for the measurement and management of major risk categories, viz credit, market, operational and liquidity risks.
Stage II Nigerian Content -Nigerian Financial System: Focuses on the practices of key regulators, including, CBN, NDIC, PENCOM, NAICOM, NSE, SEC, DMO, Federal Ministry of Finance and other key financial regulators.
Stage III Global Content -Integrated Risk Management: Deals with the key topics that holistically affect enterprise risk.
Stage III Nigerian Content - Financial Systems Integrity: Deals with the monitoring, reporting and whistle blowing practices of specialized institutions and issues that impinge on the integrity of the financial sector. It covers the work of organs such as EFCC, ICPC, MoF, FRC, AML/CFT, among others.
The Joint Committee of RIMAN and CIBN will not consider or mark papers of Stage III participants who cannot show that they have successfully passed the CRM Stage II examination
The Joint Committee of RIMAN and CIBN on CRM consist of selected members of RIMAN and CIBN. The committee oversees the development and administration of the CRM Exam.
RIMAN Education Committee consists of industry practitioners who are also members of the Association. The education committee oversees the development, annual review and update of the CRM curriculum. In order to ensure industry demands with respect to risk management are being fulfilled, the education committee members are drawn from multiple sectors and industries of the Nigerian economy, some of which include Financial Consulting, Banking, Education, Insurance, Oil & Gas, Manufacturing, Telecoms and Regulatory Institutions.