The Institutes announced an update to the Associate in Risk Management (ARM) program to address the following topics:
- Risk management standards and guidelines (COSO, Basel II and FERMA)
- Financial, operational and strategic risk
- Financial statement analysis
- Global concepts and examples
The ARM program consists of three revised courses:
ARM 54—Risk Management Principles and Practices
ARM 55—Risk Assessment and Treatment
ARM 56—Risk Financing
The most significant changes were made to ARM 54, adding 80 percent new content. An Enterprise-Wide Risk Management (ERM) perspective is now included throughout the course. Additionally, we made the quantitative discussion more concise.
ARM 55 contains 40 percent new content. The risk assessment content from the previous version of ARM 54 was combined with added content on root cause analysis, business continuity/supply chain, reputation risk, international law, climate change risk, cyber risk and social media risk.
ARM 56 consists of 20 percent new content. Financial risk was broken out into a separate assignment and international insurance content was added.
Study materials for the revised ARM program are available for purchase now, with exams beginning in the January-March 2013 testing window. The exam format is 75 multiple-choice questions. Exams on the previous version of study materials will be available until June 15, 2013.
Source: The Institutes
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