Although more than 35,000 people are ARM-qualified globally, the take-up in the UK has been low. These are over 60 ARM designees in the UK; roughly 1,000 throughout Europe. That should start to change now that Airmic is actively promoting the qualification as part of its partnership deal with The Institutes. One London-based risk professional who has already taken the plunge is Alex Frost of AXCO.
He embarked on this journey in 2015 at the urging of his then-mentor who advised that it would enable him to tune in better to the risk professionals who were and still are among his main clients, and so become more relevant to them. Of all the risk qualifications available he chose The Institutes' version mainly because it is recognised globally.
His work consisted of three modules: risk management principles and practices; risk assessment and treatment and; risk financing. He opted to use both the book and on-line version of the course and admits that working on his own proved quite a challenge at the start. The first module took him twelve weeks but, after that, he had the wind in his sails and completed the remaining two in just seven weeks each.
"It requires a great deal of motivation and self-discipline," he says. "As long as you have the right attitude you should be able to do it."
There were times when he became stuck, especially when it came to maths, which is not a strong area for him. Fortunately, he knew people who could instruct him, so did not go to the on-line community facility for students who require support. He has, however, spoken to people who did use it and found it very helpful.
Alex Frost is head of global risk intelligence and data at Axco
Frost qualified in 2016 and says it has helped his career "enormously", in two ways especially. Firstly, because the qualifications are indeed recognised globally. And secondly, because it enables him to speak the language of risk professionals and to apply the principles of risk management in the real world. He is entirely at home with terms like 'risk map' and 'risk register' and how they are used in practice.
"My ARM qualifications have given me added credibility and enabled me to make a more useful contribution to the risk management process," he says.
Click here for more details of the partnership between Airmic and The Institutes
Visit The Institutes' website here.