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European risk managers establish professional certification program

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The Federation of European Risk Management Associations on Monday launched its professional certification program for risk managers in Europe, to be known as rimap.

FERMA awarded founder certification to more than 40 risk professionals who helped create, develop and test the program.

The association intends to open the program to applications in early 2016.

The certification is open to risk managers and people working in related fields, such as insurers and brokers.

The process involves studying from three online booklets of about 25 pages each for the basic certification and seven booklets for the advanced certification. The booklets will be available this year, said Michel Dennery, deputy chief risk officer at GDF Suez in Paris and a FERMA board member, who is leading the initiative.

After studying the approved texts, applicants must commit to comply with the rimap code of ethics and pass a three-hour online examination. Applicants have to meet minimum experience requirements, which vary depending on education levels. Applicants holding a bachelor's degree must have at least five years experience for the basic certification and seven years for the advanced certification.

The fees for applying for certification are €200 ($224) for the basic certification and €300 ($336) for the advanced.

To maintain certification, risk managers and others have to complete annual continuous professional development requirements, which include attending risk management educational programs and reading approved texts.

The process also offers an accreditation program for universities and high schools whose programs comply with the approved rimap “body of knowledge” contained in the booklets.