The Institutes has relaunched its signature risk management designation, the Associate in Risk Management (ARM), and has put technology-driven changes to how risk is managed at the heart of its new qualification.
"In a rapidly changing industry, every risk professional needs to understand emerging technologies and new analytical tools," commented Steve Anderson, head of international business development at The Institutes speaking ahead of the ERM Forum - the ARM’s UK launch.
"They need to know how to leverage technology to both mitigate complex risk and determine where the threats and opportunities lie. The new ARM will help members build this skill set, and the designation will enhance their credibility throughout the industry."
The Institutes has worked in the education space of insurance for over a century, and more than 37,000 professionals around the world hold the ARM. The re-launch marks the end of a 12-month process during which it has been redeveloped to make it more relevant to the modern risk management profession.
As well as a greater focus on technology, the new qualification is less insurance-focused than its predecessor, placing more emphasis on strategic risk management. Mr Anderson explains: "Risk is managed across and throughout a business - and it needs to be aligned with business strategy. Insurance is just one element of the complete risk management experience. We rewrote the course content to reflect real-world scenarios in all aspects of risk - not just traditional hazard risk but also financial, operational, and strategic risk."
The course itself has been redesigned to make it more engaging, interactive and practical for the end user. Video case studies, knowledge checks, practice quizzes, and discussion boards are embedded through the course to support retention. It also includes insights and perspectives from practicing risk professionals.
Highlights of the new ARM include:
- Content that reflects real world scenarios on all aspects of risk - hazard, financial, operational, and strategic
- An application-based approach to help students turn learning into on-the-job action
- Insights and perspectives from practicing risk professionals and experts
- Videos, graphics, case studies, and interactive knowledge checks
- A simulated exam that mirrors the credentialing exam experience
Airmic has fully endorsed the new ARM and believes the qualification will not only improve its members’ knowledge base but also their credentials. Julia Graham, Airmic’s deputy CEO and technical director, said that knowledge and credibility is key for any risk professional wanting to break out of the back office and have greater strategic influence in their organisation:
"For risk professionals to be valued, they need the skills to integrate and align risk throughout the enterprise. The ARM is a globally respected credential which has now been brought fully up to speed with the modern risk management world and will help our members to demonstrate both mastery of emerging risk management knowledge and their commitment to the profession."
Find out more information and get started by clicking here. Airmic members get a 20% discount on all course materials; enter code AIRMIC upon checkout.