ERM 57—Enterprise-Wide Risk Management: Developing and Implementing
A new learning solution from the Institutes and RIMS
Trust us, if you haven’t had the Enterprise-Wide Risk Management discussion yet, you will. And you’ll need to speak the language. That’s why the Institutes and Risk and Insurance Management Society (RIMS) have teamed up to bring you a new course—Enterprise-Wide Risk Management: Developing andImplementing. With this unique, advanced course, you can enhance self-study with intensive seminar and in-class options hosted by RIMS. Plus, you could earn a respected industry credential.
New! Ethics requirement.
The Institutes believe ethical decision making skills are essential to the practice of insurance. Starting January 2011, all designation program participants must complete either Ethical Guidelines for Insurance Professionals (for all programs except CPCU) or the CPCU program’s Ethics and the CPCU Code of Professional Conduct. Both online modules are free. Learn more and register now.
The ERM course consists of both self-study and classroom-based learning that presents comprehensive, leading-edge ERM theory and practice. In this self-study course, you learn the material at your own pace using the Institutes’ in-depth practical study materials. In the companion seminar (conducted by RIMS), you improve your ability to apply ERM principles and practices.
Prepare your organization to meet rating agency requirements by using practical tools that help initiate and implement a strategic ERM program.
Empower your organization to make better-informed business decisions and optimize its risk management by aligning ERM with strategic goals.
Position your ERM program for success by learning how to coach risk owners regarding implementation responsibility and process.
Communicate and consult more effectively with critical stakeholders by sharing internationally recognized ERM guidelines.
We Recommend ERM for: Chief risk officers, executives concerned about risk, risk managers, risk management consultants, client executives in brokerage firms, agency principals, agents and brokers, and commercial lines underwriting professionals
Exam Information: The ERM 57 exam is offered at Institute approved on–site testing locations and Prometric Testing Centers. Contact your education coordinator for further information about on–site testing availability.
The ERM 57 exam consists of six to 12 short-answer essay questions and four to six comprehensive application cases (each consisting of several essay questions) and examinees will have three hours to complete the exam.
Course topics include:
ERM, Strategy, and Exposure Spaces
Compare and contrast traditional risk management (TRM) and ERM
Integrate risk management and strategy
Understand and estimate the value creation of risk management
Risk assessment: the exposure spaces model
Integrating Risk Management and Organizational Strategy
Manage reputation risk and other intangible assets
The GRC Triangle—governance, risk management, and compliance
Culture and risk culture in an organization
Risk reduction and event management
Risk financing and alternative risk transfer
ERM as a Project—Building the Business Case for the Board
ERM management as a project
Communication and consultation with critical stakeholders
Build the business case for ERM
Audit and self-assessment
Develop an ERM project plan—case study
This advanced course not only provides you with the practical technical skills you need to develop and implement an ERM program in your organization, it can also give you a respected industry credential.
When you pass the ERM course examination you will earn recognition of your achievement:
If you already hold the ARM designation, you will earn the Associate in Risk Management-ERM (ARM-E) designation.
If you are not an ARM designee, you will earn a certificate of completion. However, if you should earn the ARM designation in the future, you would also earn the ARM-E designation at that time.