Associate in Risk Management Designation Courses = 3
The Three Associate in Risk Management courses is listed below.
This is a professional designation that I possess. It is awarded by the Insurance Institute of America (IIA). There are three somewhat difficult tests that need to be passed to complete the designation. I was able to complete mine in 18 months. According to the AICPCU – the three courses contain the following educational goals:
ARM 54: Risk Assessment
- Increase effectiveness of contributions by acquiring skills needed to develop effective and thorough risk assessments
- Strengthen efficiency in the risk management function through improved communication with operational staff
- Improve forecasting ability through greater understanding of risk quantification and actuarial activity
- Make better financial decisions by learning how to apply cash flow analysis to risk financing planning
ARM 55: Risk Control
- Improve risk control by learning to identify and contain root causes of loss
- Demonstrate effectiveness of risk planning through development of score cards to measure success
- Help prepare the organization to more effectively recover from catastrophe by learning to design and implement disaster recovery plans
- Increase participation in risk control programs through better understanding of staff motivation
ARM 56: Risk Financing
- Help avoid potentially costly coverage gaps by learning to design insurance plans
- Support the organization’s overall financial goals by learning to build and implement a balanced risk financing strategy using retention, transfer, and hybrids
- Enhance the organization’s risk transfer flexibility by learning to establish and manage a captive and alternative risk transfer (ART )
If you are considering becoming a Risk Manager or are now one, the ARM designation is almost becoming a standing requirement.
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