Tag Archives : rimap

FERMA European Risk Management Certification goes live online

The Federation of European Risk Management Associations announced that its European Certification programme is now live online. The first online examinations will start in September.

Says FERMA President Jo Willaert, “This is a major step forward in giving access to FERMA Certification to risk professionals throughout Europe. Application, registration, all educational materials and examinations are now open to any qualified risk professional through the internet.

FERMA Certification is the only European professional designation for risk managers. Developed by FERMA and its 22 national associations, it provides independent confirmation of the professional competences, experience and standards of individual risk managers. Certification rests on four pillars: knowledge, experience, continuous professional development (CPD) and a code of ethics. These four pillars ensure that knowledge is joined to experience and professional ethics.

FERMA will remain responsible for the content and approval of the candidates. FERMA’s partner, an established supplier of online insurance and risk management education ANZIIF, is providing the platform and will schedule examinations online every month from September.

Says Jo, “We are very excited about this step for Certification and its value in the continuing development of the risk management profession in Europe. The process is easy and candidates have direct access to the materials to prepare for the exam. Some of our members’ countries will also organise a physical training programme for candidates.

Click above for registration information

Interested risk professionals can find all necessary information about the FERMA rimap certification and register at http://bit.ly/2bK9fnA  

Current examination dates are scheduled as follows: 

Exam Dates
Thursday 21 September ’17
Sunday 15 October ’17
Thursday 23 November ’17
Thursday 14 December ’17


 Notes to journalists

 FERMA and its member associations launched the FERMA rimap Certification in October 2015. The first 18 successful candidates received their Certificates at the FERMA Seminar in Malta in September 2016. Since then, seven other candidates from Danish Risk Management association DARIM have qualified through a paper-based examination in Copenhagen on 25 January.

The exam is based on the Body of Knowledge developed by FERMA and its 22 members.

Media Contacts

Lee Coppack

FERMA media coordinator, +44 (0) 7843 089904 and +44 (0) 208 318 0330, lee@coppack.co.uk

Typhaine Beaupérin

CEO FERMA, +32 (2) 761 94 31, typhaine.beauperin@ferma.eu

Next step on the Rimap route

DARIM is the first FERMA member association to take up the challenge and organise a rimap® examination. The paper-based rimap examination will take place in Copenhagen on 25 January 2017.

That morning, DARIM will facilitate a training and rehearsal session on the curriculum for all risk and insurance managers who are candidates. FERMA will supervise the examination after lunch.

Places are limited to a maximum of 30 candidates, and registration is required by Tuesday 17 January.  

More information from Charlotte Hedemark Nielsen at charlotte.hedemark@sap.com or Benedikte Danielsen at beda@di.dk


Well underway

Eighteen risk managers from across Europe are already rimap® certified following the first examination and presentation of certificates at the FERMA Seminar in Malta in October. Ian Stafrace, President of the Seminar host association MARM, commented afterwards: “Already the publicity about rimap is helping to raise awareness of the risk manager. As the pool of rimap certified risk professionals grows, employers will be able to add a rimap certificate to job specifications, so that they know the person is both skilled at his or her profession and has a European perspective.”

More than 60 participants in total have already followed the five modules of the training course organised by the Italian association ANRA, the ANRA learning path (ALP), one of the first programmes to receive rimap accreditation. The training sessions started in June and are continuing throughout the rest of the year.

“We had a good representation of both risk and insurance managers and other professionals from the insurance and consulting worlds. They discussed more than 50 topics: nearly a third of these subjects were introduced for the first time in an ANRA’s training course, demonstrating the strong orientation ALP shows toward innovation,” said Maurizio Castelli, former President of FERMA and Scientific Advisor to ANRA who has been in charge of the project since its inception.

The next steps on the rimap route for FERMA will involve working with member associations to achieve full implementation, including the system of credit for continuous professional development.





18 risk managers receive first rimap examination certification

The Federation of European Risk Management Associations (FERMA) this evening presented the first qualifications by examination in its professional programme rimap® to 18 risk managers during a ceremony at the FERMA Seminar now taking place in Malta.rimap_H-logo-certified-RGB

A total of 22 risk managers sat the two-hour examination earlier in the day. They were the first risk managers to qualify by examination.

Michel Dennery

Michel Dennery

Michel Dennery, chairman of the rimap® programme, presented the awards and congratulated the successful candidates. He said: “Delivering a first rimap examination in 2016 has been a key objective for FERMA that is now achieved. The first certified risk managers will be seen in the future as the pioneers in the new standard for the risk manager’s profession.

Rimap provides independent confirmation of the professional competences, experience and standards of individual risk managers, and accreditation for the risk management programmes of educational bodies. Certification rests on four pillars: knowledge, experience, continuous professional development (CPD) and a code of ethics.

Julia Graham

Julia Graham

The examination consisted of 100 questions based on the rimap Body of Knowledge. To prepare themselves for the examination, candidates were recommended to read the eight risk management documents that inspired the rimap examination questions, which are available online.

The questions have been written by a team of 7 European risk managers from 5 FERMA member associations. It has been a challenge to find consensus sometimes but it is also what makes rimap different and quite unique. It is a risk management examination designed by risk managers for risk managers, and for their company who want to rely on an effective risk management!” said Julia Graham, member of the rimap® steering committee and Knowledge team.

Isabel Martinez

Isabel Martinez

The examination is the latest of the milestones passed by rimap since it was launched in October 2015:

-Creation of the Body of Knowledge
-Accreditation of the first six education programmes
-Licensing of the first programmes for rimap CPD points

Isabel Martinez Torre-Enciso, vice-president of FERMA and member of the rimap® steering committee commented: “The next step is to refine the rimap examination on the basis of experience so that it reflects the complexity and diversity of the profession, and then to make the examination available for as many risk managers as possible”.

Note for journalists:  FERMA last year presented rimap certificates to 49 highly experienced risk managers who contributed to the creation of the rimap programme.


Press contacts

Ms Typhaine Beaupérin, FERMA CEO: typhaine.beauperin@ferma.eu, tel: +32 (2) 761 94 31

Lee Coppack, press contact: lee@coppack.co.uk, tel: +44 208 318 0330/ +44 7843 089904

Get prepared for the rimap Examination – useful readings!

rimap_H-logo-certified-RGBThe rimap examination is a written exam with 100 questions based on the rimap Body of Knowledge using recognised sources such as ISO 31000 and COSO ERM framework.

To better prepare for the rimap examination, you will find below the full list of sources that have been used to build the rimap examination for October 2016:

1- COSO Enterprise Risk Management Integrated Framework – Executive Summary – September 2004 – http://www.coso.org/documents/coso_erm_executivesummary.pdf

2-ISO Guide 73:2009 Risk management vocabulary – Preview – 2009 https://www.iso.org/obp/ui/#iso:std:44651:en

3-ISO 31000:2009 Risk management — Principles and guidelines – https://www.iso.org/obp/ui/#iso:std:iso:31000:ed-1:v1:en

4-A structured approach to Enterprise Risk Management and the requirements of ISO 31000 – airmic/alarm/irm – 2010 http://archives.ferma.eu/app/uploads/2011/10/a-structured-approach-to-erm.pdf

5-Audit and Risk Committees – News from EU Legislation and Best Practices – ECIIA and FERMA – 2014 http://archives.ferma.eu/app/uploads/2014/10/ECIIA_FERMA_Brochure_v8.pdf

6-The rimap Code of Ethics http://rimap-certified.org/wp-content/uploads/2016/05/Rimap-Code-of-ethics.pdf

7-Lloyd’s of London Glossary of Terms http://www.lloyds.com/Common/Help/Glossary

8-FERMA website ferma.eu

Remember that the application fee for the rimap certification is included in the Seminar fee package of €150. There will be no additional charge.

Discover the exclusive opportunity to take the first rimap examination during the FERMA seminar in Malta



rimap® is the first professional Certification for European risk managers. Launched in 2015 by FERMA, rimap® provides independent confirmation of the professional competences, experience and standards of individual risk managers, and accreditation for the risk management programmes of educational bodies. rimap® rests on four pillars: knowledge, experience, continuous professional development (CPD) and a code of ethics. Visit rimap-certified.org/


Rimap Application Procedure


The first rimap examination will be organized during the FERMA European Risk Seminar in Malta on Monday 3 October from 10h30 to 12h30.

It is a written exam with 100 questions based on the rimap Body of Knowledge and taken from recognised sources such as ISO 31000 and COSO ERM framework.

Certification benefits

  • Risk Management Professionals, upgrade your credentials and increase your chances for career development globally!
  • Company executives, increase your organisation’s credibility: employ Certified Risk Management professionals!

More reasons to take the Certification at rimap-certified.org/benefits/


FERMA Seminar 2016 offers risk managers the opportunity to be the first to complete the examination for the new European certification for risk managers rimap©.

Places are limited to a maximum of 30 candidates on a first come first served basis and for registered delegates meeting the application requirements (see below).

Registration deadline: Friday 16 September 2016


The application fee for the rimap certification is included in the Seminar fee package of €150. There will be no additional charge.


The Continuous Professional Development (CPD) process will be launched at the FERMA Seminar in Malta on 3-4 October.

Rimap Certification needs to be maintained annually through CPD points. Every year, rimap certified people need to gather 60 CPD points by participating in various activities that contribute to the development of the risk management profession such as conferences, seminars, association activities…

FERMA Seminar 2016 activities will entitle participants to gain a maximum of 30 CPD points.

More information on how to obtain CPD points at rimap-certified.org/benefits/maintaining-certification/

All participants in the FERMA seminar can start earning CPD points – i.e.  successful rimap candidates at the exam in Malta and all future rimap certified persons in the course of 2017.

CPD points are recorded electronically upon request made to FERMA.

Find out what activities will help you to maintain your rimap® certification here


rimap® contact person: Julien Bedhouche (julien.bedhouche@ferma.eu)




Creating an international network in risk management education


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

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.

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.

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
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.

FERMA Seminar 2016 – a setting for communication, education and leadership

The Seminar is an event by risk managers for risk managers. Join us! For more programme information and registration: http://archives.ferma.eu/ferma-seminar-2016/


Risk managers often say they do not get enough opportunities to get together with their colleagues from across Europe and discuss the topics that really concern them. The programme for the FERMA Seminar 2016 is now available and shows that we have responded to this feedback.  We have involved our member associations and their members in creating a setting for communication, education and leadership. Here are the sessions they have organised.

Curious to know who will address your favourite topic? Discover our speakers here: http://archives.ferma.eu/ferma-seminar-2016/


Association workshops

Airmic: Risk leadership on the boardroom agenda – the risk manager’s professional contribution

This session will discuss the challenges for board in meeting their increased risk responsibilities and suggest ways in which risk managers can support them through helping them to embed risk management as part of the business model.

MARM: Insurance captives and cells in Malta

Host association MARM will offer risk managers practical insight from two perspectives as to how local companies have navigated through Solvency II and benefitted from it. The session will also look at the situation of protected cell captives under Solvency II.

BELRIM: cyber risks – seeing them happen

“There is no golden panacea in cyber crime and cyber security,” says expert Peter Hacker, a partner at Distinction Global, part of the Cybercrime Research Institute. Instead, Peter and colleague Professor Marco Gercke will simulate a cyber attack on a fictional company in this session organised by BELRIM.

The scenario will challenge participants – representing the executive board of the fictional company – to respond to a major incident and its consequences. The workshop, explains Peter, will use powerful, insightful information and artificial intelligence-based simulation tools so that participants feel at first hand the difficult questions they would face.

Not only is there a potential for massive contractual, reputational and financial damages, but a threat to the continuity of top management and even to the integrity of the business. Boards of corporations have been battered by demands for restructuring, unwanted M&A bids and shareholder lawsuits. Clearly, cyber risks are an enterprise exposure where the risk manager has an important role to play.


Member roundtables

Here is an opportunity for risk managers to talk with their colleagues about key issues in a setting of confidentiality.

Resilience and business continuity

This discussion will consider what resilience means, how to contribute to the organisation’s resilience, where business continuity comes into play and how to integrate it into governance arrangements.

Risk management and SMEs

After the successful session on SMEs at the Forum in Venice in 2015, we received requests for more on the same subject. It is an important topic not just for SMEs themselves but also for large companies with SME suppliers.

ERM and leadership

Leadership is one of FERMA President Jo Willaert’s themes and he will lead this discussion of topics such as: practical approaches for getting started with ERM, strengthening ERM for strategic advantages and using ERM to support leadership and recognition of the risk manager.

Digital risks

As our operations become more sophisticated in their use of technology, so too our vulnerabilities increase. This round table will discuss threats, roles, mitigation, preparedness, insurance and regulation of digital risks.

Financial transparency initiatives

This roundtable will discuss the impact on risk management of financial transparency initiatives such as the OECD Base Erosion and Profit Shifting (BEPS) measures and EU Country-by-Country Reporting.


Be the first: take the Rimap® examination

Participants at the Seminar will have the opportunity to be the first to take the examination leading to FERMA’s rimap certification. More details to come…

Letter from Brussels: Business plan to follow our new strategic vision and mission statement

At our general assembly in June, we unveiled a new strategic vision and mission statement for FERMA. They provide the basis for the development of a business plan which will lay down the direction of FERMA over the next three years.

Typhaine Beaupérin

We are currently developing this business plan to move towards our vision of “a world where risk management is embedded in the business model and culture of organisations”.

In practical terms, this means that the business plan will set out how we can best represent the interests of our member associations and their members to European institutions. We will also strengthen and widen understanding of the value of risk management and the role of the risk manager.

We have, of course, been doing just this, but we want to connect our activities more closely with the needs of our members. From our Brussels base, we can both present their views to European institutions and communicate with them on European developments with important implications for risk management. This two-way communication is essential.

Another important aspect of the business plan is education. Bringing the certification project rimap® to implementation remains a top priority for FERMA. Having certified professional status will assist the risk manager in proving his or her value to the organisation.

FERMA has developed the necessary tools for rimap to take off. The associations now need to take ownership of this certification programme. This is why we will work on a new cooperation model and a new governance for rimap.

Education takes place through the sharing and exchange of information, expertise and ideas. FERMA, therefore, wants to act as a platform for cooperation among member associations and their collaboration with other stakeholders. We are reviewing the positioning of the FERMA Seminar with a stronger focus on the purpose of education with the aim of providing better insight into a limited number of subjects. The Forum, with which the Seminar alternates, is intended to be high level, on the cutting-edge of progress in risk management practices. Obviously, it is the only European event of this kind.

The business plan will be ready by the end of the year. By this time next year, you will see a FERMA with a business plan that supports the achievement of our strategic vision and mission making use of the key drivers.

Typhaine Beaupérin, CEO


For more information, see the new FERMA vision and mission here.

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’.


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)

A Proud President: Jo Willaert


Jo Willaert

Nine months have passed since I have switched from the position of Deputy President of FERMA to President, and I can say today that I am a proud President:

I am proud of what we have accomplished in that time, for which I thank my board colleagues and the FERMA staff for their support;

I am proud of taking part in the design and implementation of a new strategic plan for FERMA, about which you will learn more in the coming months;

And I am proud of our network, which is growing and becoming more influential for the benefit of the risk managers’ community.


Our themes for my presidency are LEADERSHIP – COMMUNICATION – EDUCATION, and I would like to pick out some of our achievements and plans under these headings.

When it comes to leadership, FERMA is the single recognised voice of European risk managers and, as such, its primary mission is to represent the interests of its member associations and their members to the European institutions. Lobbying activities, therefore, have been intensified to strengthen our political impact and promote the fundamental role of risk managers and the value of ERM methodology to EU institutions and other international organisations.

Our member associations are our reason for being. COMMUNICATION with them is absolutely essential for us to deliver tangible added-value. We also want more interaction between members and for members to become more involved in FERMA’s activities. Part of the way we are encouraging this is to enhance members’ feeling of belonging to a European network. We have produced a booklet about the network, which will be enriched over the coming months with more data and information. You can download it here.

I am proud of our certification project rimap®. We took the initiative, and we are leading a trend that is being followed worldwide. This is the evidence that we in FERMA and our associations are the pioneers of the professionalism in risk management. Rimap is a long journey, but it is paying off.

Having focused so much on EDUCATION in 2016, I can tell you that 2017 will be the year of LEADERSHIP. The 2017 FERMA Forum will be in Monte Carlo from 15-18 October, and we have already chosen as our theme ‘Risk Manager in Pole Position’.  It is an appropriate title for Monte Carlo, and for us, too, because it conveys images of risk, performance, anticipation, prevention, crisis management, team spirit and new technologies. The connection with the profession is self-evident.