Tag Archives : accreditation

rimap® developments: bridging the gap between education and the profession in Europe

FERMA’s professional certification programme rimap® took an important step forward on 23 June, as FERMA disclosed the names of the first six education programmes in risk management to receive rimap accreditation.

Accreditation is one of the three building blocks of rimap, along with certification and CPD (continuous professional development). It is designed to acknowledge that an education provider’s programme meets the risk management education requirements set by FERMA based on the rimap ‘Body of Knowledge’.

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Rimap accreditation confirms that the education body is willing to deliver a risk management education programme that is in line with the first European criteria agreed by FERMA associations.

“It is important for the students to know they are following an education programme that is in line with what the profession is expecting. This is best achieved by the professional associations in each country that represent the risk practitioners in Europe,” says Isabel Martinez Torre-Enciso, FERMA Vice President and the person responsible for the accreditation process within the rimap steering committee.


Bridge between academia and profession

Accreditation is also a bridge between the world of risk management education and the professional associations. In 2016, the choice was made to work with a closed list of education bodies that volunteered their interest in the process to FERMA and which were supported by their national risk management associations. For an academic’s view of this process, see the expert view by Marcus Feldt of the Stockholm School of Economics Executive Education here.

“We are pleased to see that the accredited education bodies reflect the diversity of FERMA membership with universities, business schools and professional institutes operated by national associations themselves. The geographical spread also shows that risk management education is developing across Europe, from Finland to Malta.” adds Isabel.

The criteria for accreditation are based on a certain number of hours of teaching, and an 80% match between the rimap Body of Knowledge and the programme. These elements, including the list of teachers and a description of the selection process, were documented by an online submission process through the rimap website.


Continuous Professional Development (CPD)

Finally, we are building the CPD element. We have received a number of requests for licensing for events, and we have so far confirmed to Lloyd’s a CPD license for the FERMA/Lloyd’s Professional Development Programme.

The CPD process is also about to be tested full scale at the FERMA Seminar in Malta on 3-4 October. The details are still to be confirmed, but various Seminar activities should entitle all participants to at least 25 CPD points. These points will be stored electronically on individual rimap accounts for further use when Seminar participants register for the rimap examination: http://rimap-certified.org/


First rimap accredited risk management education programmes

  • Belgium: ICHEC Formation Continue – Diplôme en Risk Management (BELRIM)
  • Finland: University of Tampere – “Master’s Degree Programme in Business Studies – Specialization in Insurance and Risk Management” (FINNRIMA)
  • Italy: ANRA – ALP (ANRA Learning Path)
  • Malta: University of Malta – “Bachelor of Commerce (Honours) in Insurance and Risk Management” (MARM)
  • Poland: POLRISK – “Certyfikowany zawodowy menedżer ryzyka”
  • Sweden: Stockholm School of Economics Executive Education – “Risk Management Diploma” (SWERMA)

Expert view: Creating an international network in risk management education

Through rimap®, FERMA is building the first network of risk management education providers and risk managers across Europe. Marcus Feldt of the Stockholm School of Economics Executive Programme explains the expectations for this new network.

“The Risk Management Diploma offered by the Stockholm School of Economics (SSE) Executive Education is one of the first six education programmes in risk management to receive accreditation from rimap.

SSE Executive Education

One of the first 6 rimap accredited education bodies in 2016

Founded in 1909, SSE is a leading research body within finance, economics, general management and leadership. Our sub-brand IFU specialises in insurance education, and SSE Executive Education believes this new network will provide a solid framework for continued work on professional and academically relevant education within the risk management area.

The network will contribute to a more coherent and improved basis of competence, where knowledge sharing and best practice occur between education bodies and FERMA. We expect this new relationship to raise the level of awareness and knowledge about risk management at every level in the public sector and business world.

Contribution to the development

Our aim is to broaden our scope of courses to cover every significant aspect of risk management. That means traditional fields and fundamentals, but mainly new and topical subjects. The development of the risk management portfolio will have two drivers. One is the day-to-day work done by Executive Education/IFU in creating courses and seminars in current risk management subjects, such as cyber risks, culture and governance. Second is cooperation through SWERMA with networking activities and discussions to remain relevant to its members and have an updated educational offering.

We have been working closely with SWERMA for more than five years and have a joint agenda in developing the whole risk management profession. This applies not just to the role itself, but even more to awareness at top management and board level of the potential of risk management as a strong tool for developing companies, other organisations and, to a great extent, society.

In ten years

Marcus Feldt

Marcus Feldt

Our belief is that the risk management profession, or rather professions, will become more formalised in many areas, such as in financial services. A more precise specification of many risk roles will also occur, given new regulations and authorities’ recommendations, as risk management organisations mature. From the enterprise risk management perspective, we believe there will be further integration and formalisation of organisational functions working with risks within many organisations.

This will increase the scope for risk managers who will have to work more closely with other second line entities, as well as first line and business representatives. In this role, they will be not just highlighting compliance and security issues but also driving business development and adding value to their organisations. Thanks to this development, we believe that the profession will gain a higher acceptance and recognition in many organisations, including from the board of directors and top management.”

Marcus Feldt is Specialised Client Director for the Stockholm School of Economics.


FERMA announces first accreditations for its certification programme, rimap®

The Federation of European Risk Management Associations (FERMA) has announced the first six education bodies to receive accreditation for its professional certification rimap®. Accredited education programmes in risk management, certification examination and continuing professional development are the corner stones of this new rimap® professional recognition programme for risk managers in Europe developed by FERMA.

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FERMA President Jo Willaert commented: “Education is one of the three priorities of my term as president. Having rimap® accredited education programmes is a building block in our long term initiative to place risk management firmly among the professions. I am delighted with the support we have received from the member associations who have worked closely with FERMA and the education bodies to achieve this first set of accreditations. Others will follow.”

The Chairman of the rimap® steering committee, FERMA board member Michel Dennery, added: “We believe we are at the beginning of a European network in risk management education. Beyond the need for increasing the skills and competences of risk managers, the FERMA rimap® initiative is now supported by the world of education.”

The six risk management programmes “rimap® accredited” are:

  • Belgium : ICHEC Formation Continue – Diplôme en Risk Management, supported by BELRIM

ICHEC_FC_4CBELRIM – Belgian Risk Management Association

 

 

 

 

  • Finland : University of Tampere – “Master’s Degree Programme in Business Studies – Specialization in Insurance and Risk Management”, supported by FINNRIMA

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  • Italy : ANRA – ALP (ANRA Learning Path), developed by ANRA

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  • Malta : University of Malta – “Bachelor of Commerce (Honours) in Insurance and Risk Management (B.Com. (Hons)”, supported by MARM

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  • Poland : POLRISK – “Certyfikowany Zawodowy Menedżer Ryzyka – Certified Professional Risk Manager”, developed by POLRISK

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  • Sweden : Stockholm School of Economics Executive Education – “Risk Management Diploma”, supported by SWERMA

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DEFINITIONS
Education Body: a provider of a risk management education programme. This is not limited to universities, business schools or higher schools. Any Education Body who offers specific risk management education can apply for a rimap© accreditation if it meets the requirements set by FERMA based on the “rimap© Body of Knowledge”.

Accreditation: process used to acknowledge that an education provider’s programme meets the risk management education requirements set by FERMA based on the “rimap© Body of Knowledge”. Who can apply for Accreditation: universities, higher schools and those who offer specific risk management education.