Enterprise-Wide Risk Management: Developing and Implementing

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.

Bottom-Line Benefits

• 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:

• 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

• 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 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.

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