PRMIA (The
Professional Risk Managers' International Association) is an international
association of people in the industry to risk management (over 90 000 members
in over 80 countries). It was founded in 2002 by practitioners who wish to
promote ethical principles and transparency in the implementation of financial
risk management. PRMIA offers training (online and face to face), and
grants the title PRM (Professional Risk Manager) and Associate PRM to those who
pass the exams. It is a non-profit organization.
Why get the PRM designation
The designation PRM ™ is an
independent certification that attests to your skills and your integrity in the
field of risk management, specifically in the field of financial
risk. This is one of the most respected names in the field of financial
risk and is more common in large financial institutions. More than 2,400
companies around the world hire people who have the title PRM ™.
This
title allows you to distinguish you from others in the community and gives you
a competitive advantage. This benefit will be valued by your colleagues as
much as your customers, as well as employers and educational and research
institutions. In the dynamic environment of today, this kind of
recognition is an important asset.
How to get certified from the PRMIA association?
Associate PRM
Title Associate PRM
covers the basic concepts of risk management. This is training that is
mathematically and theoretically simpler than the real title of PRM ™.
For this reason, you must:
For this reason, you must:
- Being a member of PRMIA.
- Pass one exam (90 multiple choice questions, 3 hours, 60% pass
mark). Interestingly, the success of this examination exempts you
from examining IV PRM ™.
PRM ™
To get the
"real" title PRM ™, you must:
- Pass four exams
The prerequisites are *:
- Membership in the Association PRMIA
- Have a working experience of 2 years for holders of a Bachelor
* no experience
is required for holders of advanced degrees as a M. Sc. or MBA .
List of examinations to
be passed:
These exams can be done in any order within a period of two years. All questions are multiple choice.
These exams can be done in any order within a period of two years. All questions are multiple choice.
The program is primarily based on
self-learning made from the The Professional Risk Managers' Handbook guide.
The difference between the FRM and PRM
FRM (Financial Risk Manager) is a certification run by the Global Association of Risk Professionals (GARP). The
FRM certification is the "competitor" to PRM designation in the field of risk
management. Currently, there is a little known and widespread that the
PRM, among others, because he was created a few years earlier (1997 for the
FRM, PRM 2002). For cons, the title PRM has experienced strong growth in
recent years and is gaining ground against the FRM.
The subject matter covered by the exams leading to each of the securities is similar to 80%. There is very little difference in content; PRM is generally perceived as being a little bit more applied and a quantitative, while the FRM has a slightly more academic and theoretical trend. Both titles are highly respected in the industry.
Read more on the Differences Between FRM and PRM
