AFERM Newsletter, Issue 25, March 2018
This is the 25th issue of the quarterly AFERM Newsletter! It includes two thought leadership articles from ERM practitioners with King County, Washington, and Harvard University, as well as an update on the the RIMS-Certified Risk Management Professional (RIMS-CRMP) certification initiative between AFERM and RIMS.
AFERM and RIMS join forces
By Peggy Sherry
The Association for Federal Enterprise Risk Management (AFERM) is working with the Risk and Insurance Management Society (RIMS) to develop a micro-credential for the RIMS-Certified Risk Management Professional (RIMS-CRMP) certification. The goal is to allow federal risk professionals to showcase their expertise, professional achievement, and qualifications in the federal ERM space in response to updates to Office of Management and Budget (OMB) Circular A-123. Federal risk professionals will be able to obtain the RIMS-CRMP-FED Micro-credential, which supplements the RIMS-CRMP certification.
As ERM becomes increasingly important in the public sector, it’s vital to identify qualified professionals to address the significant changes that risk management will undergo moving forward. The RIMS-CRMP-FED will allow Federal professionals to formally demonstrate that they have the necessary knowledge and background to be on the forefront of tackling any challenges associated with managing emerging risks.
AFERM began examining the feasibility of developing a certification in mid-2015, shortly after RIMS debuted the RIMS-CRMP certification. The AFERM Board provided the go-ahead to begin development in September 2016 and a little over a year later, in November 2017, formally announced the micro-credential at the annual AFERM summit. Following an early planning session, AFERM recognized that developing a micro-credential aligned with the RIMS-CRMP would be beneficial for all federal risk professionals.
Since the announcement, AFERM and RIMS have been closely working to identify the most pertinent and timely Federal ERM competencies to highlight on the exam, consulting with professionals from various sectors throughout the Federal government. Through various webinars and conferences, exam questions specific to the micro-credential have been developed. The first exam window is scheduled for July 15 – September 15, 2018. Additional steps in the process include:
- June 19 – June 21, 2018: The testing coordinator for AFERM and RIMS will conduct a 3-day exam preparation course for professionals who will be taking the pilot exam.
- July 15 – September 15, 2018: Professionals who do not currently hold the RIMS-CRMP will take the base certification exam online.
- October 6, 2018: The first pencil and paper RIMS-CRMP-FED pilot exam will be administered to a small group of professionals who have previously attained the RIMS-CRMP.
- Early November 2018: AFERM will recognize the first successful RIMS-CRMP-FED recipients at the 2018 AFERM Summit, culminating more than 3 years of development.
- Early 2019: The RIMS-CRMP-FED Exam will be available for online testing to the general public.
AFERM is excited to be part of this major advancement in developing ERM in the federal government. We believe that the RIMS-CRMP-FED will help instill confidence in Federal risk professionals and encourage organizations to take the steps to advance their organization’s ERM programs.
Best regards –
Peggy Sherry, AFERM President, may be contacted at firstname.lastname@example.org.