Professional Risk Managers' International Association

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Professional Risk Managers' International Association (PRMIA)
Established 2002
Type Nonprofit Professional Organization
Location Northfield, Minnesota, United States
Website www.prmia.org
Prmia logo.gif

The Professional Risk Managers' International Association (PRMIA) is a non-profit organisation founded in 2002.[1] Its focus is the "promotion of sound risk management standards and practices globally", and "the integration of practice and theory".[2] It provides certification and credentialing for professional risk managers, as well as other educational programs and resources. It currently has more than 50,000 members in 180 countries [3] represented by nearly 60 chapters worldwide.

Professional Risk Manager[edit]

The Professional Risk Manager (PRM) designation [4] is an international professional certification offered by PRMIA. The designation was first awarded in 2004. The PRM is an "independent validation" of skills within the financial risk management profession, additionally requiring a commitment to professional ethics. The PRM and GARP's FRM are often compared as being the two definitive risk management designations in the industry.[5]

Candidates are required to pass four exams:

The exams are computer-based and the questions are all multiple choice; the passing grade is 60%. The exams can be taken in any order and must be completed over a period of up to two years; they are offered during 4 testing windows per year, each of three weeks (prior to 2014, on any business day of the year).[6] The recommended reading material is the Professional Risk Managers' Handbook (ISBN 0976609703), edited and authored by various practitioners and academics,[7] including Salih Neftci and Paul Wilmott.

The PRM program recognizes other professional designations and gives partial credit to "cross-over" candidates, as well as to graduates of select university programs. Minimum experience requirements are:[8] 4 years if no bachelor's degree; 2 years for holders of a bachelor's degree; no requirements for holders of a graduate degree (i.e. MBA, MSF, MQF etc.) or of an accepted professional Designation (CFA, CAIA, CQF, etc.).

Associate PRM[edit]

The Associate Professional Risk Manager (Associate PRM) [9] is a certificate program which covers the core concepts in a less mathematical fashion, "allowing non-specialists to interpret risk management information and reports". A single exam is required. The recommended text is The Essentials of Risk Management (ISBN 0071429662).

Organisational Structure[edit]

Board of Directors:

  1. Faruk Patel, Chair
  2. Justin McCarthy, Vice Chair
  3. Robert Mark
  4. Oscar McCarthy
  5. Dominik Dersch
  6. Wilson Fyffe
  7. Saurabh Mathur
  8. Ken Radigan
  9. Robert Reitano
  10. Kevin Kuff, Ex Officio

Global Council:

  1. Mihaela Capra, Chair AMER - America's
  2. Fahad Zafar, Chair APAC - Asia Pacific
  3. Monika Smatralova, Chair EMEA - Europe
  4. Justin McCarthy
  5. Mark Abbott
  6. Navin Sharma

See also[edit]

References[edit]

External links[edit]