CRMO Program
The global economy has suffered successive shocks in recent years. In early 2020, the COVID-19 epidemic swept the world and is still ongoing; in early 2022, the Russia-Ukraine conflict erupted and the global financial markets were thrown into turmoil. Under the influence of simultaneous interest rate hikes by central banks in several developed economies, the downward pressure on the global economy has increased steeply. Moreover, another risk with far-reaching impact on the global economy and human production and life, the risk of global climate change, has also become more severe. How to deal with the risks from all sides has become the focus of the industry's attention.
Certified Risk Management Officer (CRMO) certification is a professional certification toward those engaging in risk management of their professional capacity. Besides the traditional risk management in finance, including market risk management, credit risk management, operational risk management, corporate governance, CRMO certification program also covers current issues, such as geopolitical, climate risk management, enterprise risk management, cyber security, and artificial intelligence. CRMO certification program puts forward a strict evaluation standard combining both professional knowledge and practical skills towards financial risk managers. The CRMO certification system is divided into three levels: CRMO Level 1, CRMO Level 2 and CRMO Level 3. The aim is to establish a scientific, advanced, reasonable and comprehensive talent evaluation mechanism for candidates with different industrial backgrounds and occupational requirements.
Certification Requirements
At present, the establishment and improvement of the training and evaluation mechanism for professional risk managers in financial institutions is of great significance to effectively control financial risks, continuously maintain the steady development of financial institutions and solidly establish a sustainable financial market. In view of this, building a training and certification device for financial risk managers has become increasingly urgent. To match the needs of financial risk management, CRMO certification system suggests a “5E Model” for financial risk management professionals, namely Ethics, Education, Examination, Experience, and Enhancement.
Ethics. Due to the special nature of high risks in the financial industry, the professional ethics of employees has a direct bearing on the healthy development of the industry as well as the sound and sustainable development of global financial market.
Education. Theoretical learning and practical training are the cornerstones of training for risk management practitioners. The content of education should include basic financial theories, basic data science, risk management expertise, best practices in industry, and regulatory laws and regulations in finance.
Examination. Practitioners who meet the standards should pass a strict examination, which is an important way and means to test their qualification of professional abilities in the management of financial risk.
Work Experience. Putting theory into practice is vital in the capability model. At least two years’ (including two years) experience of financial risk management or related work is an important requirement in professional certification.
Enhancement. Practitioners should be equipped with the concept of lifelong learning, constantly improving their professional and practical abilities, to ensure that they keep pace with the latest theories and best practices around the world.
Certification Process
Registration
Education
Examination
Application
Certification
Starting the Registration. Register as a CRMO candidate to attain test information and preparation materials.
Attending the Education.Complete the course credits required by each level, and obtain the serial number of corresponding education issued by the registered education provider.
Taking the Exam. Use the serial number, sign up for the test, and meet the minimum test scores required by the corresponding exam.
Submitting the application. Submit the corresponding information required for certification or re-certification, and wait for the approval from GIFP.
Completing the Certification. Once receiving the approval from GIFP, the applicant will be awarded the certificate applied and has the right to use the corresponding designation.