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Risk management involves the comprehensive study and review of the possible loss exposures that face an organization. Risk management professionals need to understand and identify these risks in order to minimize or prevent loss in the most cost-effective manner. 

In conjunction with Global Risk Management Institute (GRMI), Laurier offers the three required courses needed obtain the Canadian Risk Management (CRM) designation. Students are required to take a standardized exam through GRMI after each completed course. Information regarding these exams, including fees and requirements, can be found on the GRMI website.

CRM Designation

The Canadian Risk Management (CRM) designation is a widely recognized qualification that provides risk managers a foundation of knowledge and skills needed to identify, assess, monitor and limit risks. The CRM is recognized by the Risk and Insurance Management Society (RIMS) and awarded by the Global Risk Management Institute (GRMI). GRMI sets policy for the CRM designation and maintains the records of its credentialed members.

Attaining the CRM designation demonstrates a level of professional commitment, knowledge and skills that employers in both public and private sectors recognize.

Why Earn the CRM Designation?

  • Competitiveness: Formal training gives CRM holders a competitive advantage that employers seek.
  • Credentials: Demonstrates that CRM holders have achieved the knowledge and skills necessary to identify, assess, monitor and limit risks.
  • Recognition: CRM holders stand out among others in a competitive marketplace.
  • Advancement: Improves the ability of CRM holders to achieve their organization's risk management objectives and their career goals.

Eligibility

To earn the CRM designation, candidates must complete the three foundational courses and pass standardized exams for each course (standardized exams are in addition to any exams administered by the university or institution as part of their course curriculum). The exams evaluate level of knowledge based on the content covered in the required textbooks. The three standardized CRM exams administered separately by GRMI verify that CRM candidates possess a consistent level of knowledge.

The exams will be available at Prometric Testing Centers during four testing windows each year:

  • Jan. 15 to March 15
  • April 15 to June 15
  • July 15 to Sept. 15
  • Oct. 15 - Dec. 15

Each of the two hour CRM standardized exams include multiple choice questions, and 70% is considered a passing score. Once the student completes the exam, a pass/fail message will appear.

Courses

All three courses run over a 13-week period in a blended format in the fall and winter terms. Classroom components are held at Laurier’s Waterloo campus.

The first class is an in-class session, and the group meets approximately every other week throughout the term. Online activities and supplemental materials are scheduled for the weeks that do not require an in-class session.

ARM 54: Risk Management Principles and Practices

This course is intended to familiarize you with the basic concepts and processes of risk management in a Canadian environment. This is the first of three courses required to obtain the Canadian Risk Management Certificate.

Subjects covered in this course include:

  • Risk management concept and objectives.
  • Risk management in an organTBDization and its effect on profits.
  • Risk management techniques.
  • Risk identification and analysis.
  • Property risks.
  • Income risks.
  • Liability risks: traditional, industrial, consumer, environmental.
  • Employee (personnel) risks.
  • Probability techniques in risk management.
  • Risk management decision-making and capital budgeting methods.

Format: Blended.

Date: TBD.

Time: TBD.

Location: Laurier's Waterloo campus.

Fee: TBD (plus textbooks; pricing available on registration form).

Required textbooks: Risk Management Principles and Practices and Risk Management Principles and Practices Course Guide.

Instructor: TBD.

Note: Registration is currently closed.

ARM 55: Risk Assessment and Treatment

Successful completion of Risk Management Principles and Practices (ARM 54) or a fundamental knowledge of business management, employee benefits and general insurance (e.g. work experience in the insurance field) is suggested before registering in this course.

ARM 55: Risk Assessment and Treatment explores the selection, implementation and monitoring of risk assessment and treatment techniques in order to prevent or minimize actual loss.

Subjects covered in this course include:

  • Introduction to risk assessment and treatment.
  • Root cause analysis; business continuity management.
  • Physical property risk.
  • Intellectual property and reputation risk.
  • Legal and regulatory risk.
  • Management liability; human resource risk.
  • Environmental risk.
  • Crime and cyber risk.
  • Fleet risk.

Format: Blended.

Date: Thursdays (every other week), starting Jan. 26 to April 13, 2017.

Time: 7 p.m. to 9:50 p.m.

Location: Laurier's Waterloo campus.

Course fee: $595 (plus textbooks).

Required textbooks: Risk Assessment and Treatment and Risk Assessment and Treatment Course Guide.

Textbook costs:

  • Registrations received on or before Jan. 3, 2017: $225.
  • Registrations received after Jan. 3, 2017: $275.

Instructor: Steve Scullion, Branch Manager/Senior Adjuster, Granite Claims Solutions.

Register for the course

ARM 56: Risk Financing

Successful completion of Risk Assessment and Treatment (ARM 55) or a fundamental knowledge of business management, employee benefits and general insurance (e.g. work experience in the insurance field) is suggested before registering in this course.

ARM 56: Risk Financing investigates the selection, implementation and monitoring of risk financing techniques and the funds an organization can obtain to pay for any accidental losses which may strike it.

Subjects covered in this course include:

  • Introduction to risk financing.
  • Estimating hazard risk.
  • Self-insurance plans.
  • Retrospective rating plans.
  • Reinsurance.
  • Captive insurance.
  • Contractual insurance.
  • Transferring financial risk.
  • Transferring hazard risk to the capital markets.
  • Allocating costs of managing hazard risk.

Format: Blended.

Date: Tuesdays (every other week), starting Jan. 24 to April 11, 2017.

Time: 7 p.m. – 9:50 p.m.

Location: Laurier's Waterloo campus.

Fee: $595 (plus textbooks).

Required textbooks: Risk Financing and Risk Financing Course Guide.

Textbook costs:

  • Registrations received on or before Jan. 3, 2017: $225.
  • Registrations received after Jan. 3, 2017: $275.

Instructor: Sasha Alexander, Co-Founder and Principal BA, RF, CIP, Maccova Inc.

Register for the course


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