Recognition and Standard of PRM, FRM, and ERP

It is very difficult to ensure that the people you hire in your organization have recognized knowledge, experience and competence standards. You can certify internally, but this type of procedure does not make much sense outside the organization. Therefore, it is necessary to find an external certification source. As far as risk management is concerned, all three certifications are highly visible, recognized and set standards that may improve your organization. Let's take a look at the appearance of PRM, FRM, and ERP standards, and then see how these standards affect your organization.

First, the PRMIA professional risk manager certification seems to be highly recognized in the entire industry. First, if the organization has another title, such as an actuarial researcher, an actuarial assistant or a chartered financial analyst (CFA), part of the certificate can be awarded. This type of accreditation means that PRMIA places its certification at the level of other known certifications. Because of this reciprocal agreement, you can ensure that the standard of excellence is high. The PRM certification has been recognized by universities including the University of Toronto, the University of New York and Munich, as well as by a group of professors representing Sorbonne, Ecole Polytechnique and the University of Paris.

It is very difficult to ensure that the people you hire in your organization have recognized knowledge, experience and competence standards. You can certify internally, but this process does not make much sense outside the organization. Therefore, it is necessary to find an external certification source. In terms of risk management, all three certifications are highly visible, recognized and set standards that can improve your organization. Let's take a look at the appearance of PRM, FRM and ERP standards and then see how these standards affect your organization.

First, the PRMIA professional risk manager certification seems to be highly recognized in the entire industry.  First, if the organization has another title, such as an actuarial researcher, an actuarial assistant or a chartered financial analyst (CFA), a partial certificate can be awarded. This certification means that PRMIA places its certification at the level of other known certifications. Thanks to this reciprocal agreement, you can ensure standards of excellence. PRM certification has been recognized by universities such as the University of Toronto, New York University and the University of Munich, as well as a group of professors representing Sorbonne, Ecole Polytechnique and the University of Paris.

GARP's FRM name also has a high standard and recognition. GARP reports that recruiters and hiring managers are currently actively looking for holders of these certificates to fill senior risk management positions. Given the current economic situation, this is undoubtedly an advantage in the recognition column. FRM's headlines are made up of quite elite, with fewer than 18,000 members worldwide. This creates a highly recognized standard and a useful network. For example, GARP reports that its 2008 candidates represent 36 industry sectors and 168 of the Fortune 500 companies are working. Those who are certified can add "FRM" to the end of their names, and potential candidates can even submit a resume to see if you meet the experience requirements.

The ERP name has almost the same standards and recognition as the FRM certification, including a network of certificate holders all over the world. However, one of the most enlightening elements of ERP certification is that GARP is planning continuing education requirements for its holders. Continuing education requires that certificate holders have the latest knowledge. Consider the American State Bar Association or even real estate and appraisal professionals. If someone has obtained a certificate with continuing education requirements, it indicates that they are willing to continue to work hard to maintain the certification and continue to maintain these qualifications. Standards required for certification.

Finally, certifications like this focus on career development, not education that is necessary for education. This approach ensures that your certified employees are "A" level participants and are committed to their respective fields.

In our next discussion, we will study the capabilities that certified professionals bring to your organization, including explicit and implicit capabilities.