What Is Risk Management Certification?

Key Takeaways

A risk management certification is a credential that demonstrates expertise in identifying, assessing, and mitigating potential safety, security, or financial risks within a specific field.

• Risk management certifications are professional credentials that can show employers a commitment to learning and help a resume stand out in fields such as banking, manufacturing, and health care.

• Popular options for certification include the PMI Risk Management Professional (PMI-RMP), RIMS-CRMP, CRISC for IT risk, and the Financial Risk Manager (FRM) for finance.

• You can follow steps to earn a certification by identifying your skill set and goals, reviewing specific criteria, and enrolling in training programs to prepare for exams.

Read on to discover popular certification options, their specific requirements, and the career opportunities available to risk management professionals. Then, build your foundational knowledge in technical risk oversight by enrolling in the Google Cybersecurity Professional Certificate.

Overview of risk management certifications

Earning a risk management certificate can demonstrate your expertise in or understanding of risk management within a specific field. Certificates can also show employers your commitment to learning about risk management and being willing to add more knowledge to your skill toolbox as you continue in your career.

Popular risk management certifications

PMI Risk Management Professional (PMI-RMP)

• Offered by the Project Management Institute, this certification validates your ability to identify problems early and improve project outcomes. The exam covers risk identification, analysis, and response.

• Cost: $520 for PMI members / $670 for non-members. Cost (US): $520 for PMI members and $670 for non-members [1]

RIMS-Certified Risk Management Professional (RIMS-CRMP)

• This credential focuses on designing organizational risk strategies and supporting risk-based decision-making. Federal employees may also pursue the RIMS-CRMP-FED version.

• Cost: $375 for RIMS members, $275 for student members / $525 for non-members, $375 for student non-members[2].

Certified in Risk and Information Systems Control (CRISC)

• Administered by ISACA, the CRISC focuses on IT governance, risk assessment, and security reporting. It is the gold standard for those managing information systems risk.

• Cost: $575 for ISACA members / $760 for non-members [3].

Financial Risk Manager (FRM)

• Offered by the Global Association of Risk Professionals (GARP), this is the premier certification for finance. It covers market risk, investment management, and current financial market issues.

• Cost: $600–$800 per exam part depending on registration timing [4].

How to get risk management certifications

Follow these steps as you prepare to earn certifications to help you potentially navigate the certification process successfully.

1. Choose the right certification.

When deciding which certifications are best for you, it’s important to identify your particular skill set and career goals. Make a list of the skills you already have, the skills you want to acquire, and your long-term professional goals, so you have an idea of what to look for when reviewing potential certifications.

2. Review certification requirements.

Reviewing all criteria to ensure you qualify before signing up for a certification exam is a good idea. If you don’t have the qualifications yet, you can try other certifications or set a goal to obtain the potential qualifications so you can apply for the certification.

3. Enroll in training programs.

Training programs are a great way to prepare for certification exams. Do some research to find the best training programs for your field. Some programs are offered through third-party sources like Coursera, or you can sign up for training programs and study materials offered by specific certificate providers.

4. Create a study plan.

Preparing for certification exams should be treated like studying for a typical school exam. Review your daily schedule to set aside time for classes if you decide to sign up for them, independent study for exams, or practice tests to better understand what you can expect on the actual certification exam.

5. Register for the exam.

Each certification has its own registration process, so it’s important to research each certification to find out what registration looks like for each one. Review the prerequisites to take the exam, how much it costs, when you can take it, and where you can take it. Some certifications have specific test dates, while others are more flexible. You might be able to take the exams online, though some tests must be taken in person.

Career opportunities with a risk management certification

A risk management certification can boost your professional goals in different roles across multiple industries that involve risk management as part of the job responsibilities. Some job titles that utilize risk management skills and their average annual salaries based on data from Indeed include:

• Risk manager: $109,153 [5]

• Emergency management director: $96,103 [6]

• Financial analyst: $79,127 [7]

• Compliance officer: $73,340 [8]

Employers look for risk managers with resumes demonstrating analytical, organizational, and presentation skills and specific risk management skills.

Learn more about risk management with these free resources

If you want to learn more about risk management or jumpstart your career, review some free resources:

• Read an interview with a fellow learner: 6 Questions with a Microsoft Data Analytics Leader

• Watch our video on YouTube: Financial Engineering and Risk Management

• Subscribe to our newsletter: Career Chat

With Coursera Plus, you can learn and earn credentials at your own pace from over 350 leading companies and universities. With a monthly or annual subscription, you’ll gain access to over 10,000 programs—just check the course page to confirm your selection is included.

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