What is the Associate PRM Certificate?
In today’s volatile financial market, the need for risk management knowledge and understanding at all levels of management is critical. Now more than ever before, it is essential to understand the multiple dimensions of risk as well as how to best manage risk to gain a competitive advantage.
The Associate Professional Risk Manager (Associate PRM) is a PRMIA certificate program intended for staff entering the risk management profession, or those who interface with risk management disciplines on a regular basis, such as auditing, accounting, legal, and systems development personnel who want to understand fundamental risk management methods and practices.
Gain familiarity with risk management concepts and their place in the business, industry, and financial system.
Designed to be mathematically and theoretically less detailed than the Professional Risk Manager (PRMTM) certification, this program covers the core concepts of risk management, allowing non-specialists to interpret risk management information and reports, make critical assessments, and evaluate the implications and the limitations of such results. In addition, they must commit to further uphold the highest professional and ethical standards as defined by the PRMIA Standards of Best Practice, Conduct and Ethics.
The knowledge demonstrated by passing the Associate PRM provides a practical, non-ivory tower approach that is necessary to effectively implement a superior risk management program. Successful candidates will be able to:
- Understand corporate governance, compliance, and risk management
- Be able to implement integrated risk management
- Know how to measure, manage, and hedge market, credit (retail and corporate) and operational risk
- Define the roles of board members and senior management in managing risk
Passing the Associate PRM will demonstrate the essential knowledge necessary to understand and manage risks in any corporate or economic environment.
Key Learning Objectives
- Gain a familiarity with the concept of risk management and its place in the business, organization, or system
- Gain an overall understanding of the concepts of risk management techniques in a non-quantitative framework
- Understand how governance fits into the concept of risk management
- Understand the concepts of risk and return
- Gain a familiarity with the structure and workings of various financial markets
Gain a familiarity with the financial instruments used in risk management
Understand the concepts of interest rate risk and hedging
Understand the concepts of asset-liability management
Understand the concepts of market risk management
Understand the concepts of retail and commercial credit risk management
Understand the concepts of operational risk management
Understand how performance can be measured
Understand the concept of enterprise risk management
Understand industry standards and best practices of financial risk management
Understand the positive role that risk management can play
Who holds the Associate PRM Certificate?
PRMIA Certifications Public Directory - access a list of risk professionals holding the Associate PRM Certificate from 2016 onward.