Possible European certification of risk managers has moved a step closer with the decision of the FERMA working party that it will present a definite plan for the project at the next FERMA Forum starting on 29 September 2013.

Between now and then, the working party will discuss the scheme with FERMA’s 22 member associations and possible service providers to discover what education programmes are currently available and what they believe should be included in a certification syllabus. FERMA does not intend to be an education provider itself but would develop a programme of courses from other sources. Its role will be to confirm that the risk manager has achieved a high level of professional competence and skill.

Taking the professional recognition of risk managers to another level by developing certification is clearly an ambitious project and FERMA is also talking with potential partners with appropriate management skills.

Additional support will come from the appointment to the working group of FERMA’s newest board member, Isabel Martinez. Isabel has extensive experience of higher education. She is a senior lecturer in corporate finance at the Autónoma University of Madrid school of business and economics, in addition to her role as head of the university’s finance and marketing department.

The presentation at The FERMA Forum is most likely to propose European certification at two levels: confirmation of competence in risk management for newer entrants into the profession and a full recognition of competence and experience for more senior risk managers.

FERMA Vice President and working party member Michel Dennery says, “For European companies, it is important that their risk manager has European recognition. Certification can provide an indication to a company that its risk managers are competent to a recognised level which is in turn compliant with best practice of different risk management disciplines across Europe.”

Working party and FERMA board member Julia Graham comments, “There are already many courses and qualifications in risk management, but they are at different levels and cover different countries and different aspects. Nothing currently exists that provides a consistent benchmark of competence for risk managers across Europe.”

Both Michel and Julia stress the importance of the views of FERMA’s 22 member associations in developing this ambitious project. “One of our first steps is to understand what education programmes they currently provide, and what kind of competence and experience they want to see included in certification,” said Graham.

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