Certified Professional Risk Manager (CPRM)

Build a sustainable competitive advantage by gaining access to the necessary knowledge and tools to enhance your risk decision-making skills and improve your performance.

Strengthen your ability to successfully lead your organization through rising uncertainties in today's global and volatile economy.

Extraordinary changes call for exceptional leaders who are able to combine a detailed understanding of today’s complex business environment and emerging risk issues with sophisticated decision-making, managerial and organisational skills.

The CPRM certification develops these ‘hybrid' leaders/managers who are effective in delivering change and securing competitive advantage for their organization and are able to use Risk Management as leverage for effective risk taking, innovation and change.

A Certified Professional Risk Manager is well equipped to lead your organization through the Enterprise Risk Management journey, having learned the methodology and tools to deal effectively with both strategic and operational risks. 

The Certified Professional Risk Manager (CPRM) designation is awarded by the Asian Risk Management Institute (ARiMI) in association with National University of Singapore (NUS).

The programme is designed to deliver an integrated, cross-disciplinary understanding of key risk management issues and to equip decision-makers with methodologies, tools and best-practices applicable regardless of industry backgrounds. These are essential for an organization’s survival and growth in an increasingly complex and volatile business environment.

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With its holistic perspective on risk management as a decision-making process, the programme is targeted at middle to senior managers from all industry sectors and functions who are concerned with the challenge of making important decisions in an uncertain environment and who need to understand how risk will influence their ability to deliver positive results and be successful in their organization.

The programme is also suited for any individual who has a professional interest in becoming proficient in enterprise risk management and wishes to further his/her career development into the field of risk management.

• Senior Risk Managers/Directors/CROs
• Insurance Managers, Brokers, Underwriters
• Internal Auditors, Managers and Accountants
• Public Sector Officers and Government Officers
• Change Managers and HR Managers
• Legal Professionals

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• Gain new knowledge and build an in-depth understanding of Enterprise Risk Management most recent and effective tools and methodologies.
• Learn how to internalize the new knowledge into practical skills to improve immediately your effectiveness and performance at work.
• Enhance your leadership and risk decision-making skills by learning how to make the right decisions for important and difficult business/operational issues positively influencing organizational results.
• Build your network with risk professionals and learn from direct industry experience in managing Risks.
• Gain a professional title recognizing your new knowledge & skills to build a successful career in the new growth area of Risk Management.
• Leverage your new knowledge & skills to gain a competitive edge over your peers and enhance your career advancement opportunities.

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• Having 'In House' experts really able to apply Risk Management principles and tools effectively in your organization and Drive the ERM implementation journey successfully.
• Increase your stakeholders confidence in your Risk Management experience and capabilities.
• Reduce Waste and enhance operational efficiency with improved risk-based processes and control systems coupled with the development of a risk aware culture.
• Improve ERM's contribution to your organization's performance by optimizing the overall strategic and operational risks/return balance.

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• CM 1 - Harnessing the Value of Enterprise Risk Management: A Roadmap to Understanding Enterprise-Wide Risk Management Principles, Methodologies and Tools (2 days)
CM 1 – Creating Value with Risk Management



1.	Overview of Risk Management
	•	The scope of Risk Management
	•	The emergence of the Chief Risk Officer (CRO)
	•	Risk types and classifications
	•	The Costs and Benefits of Risk Management
	•	Risk Management Policy and Report
	•	Risk concepts (Exposures, perils and hazards, loss frequency and severity)
	•	Risk Interdependency, Correlation and Non-correlation
2.	The Risk Management Process
	•	Overview of the Risk Management Process
	•	Step 1: Identify risks
	•	Step 2: Analyze risks
	•	Step 3: Examine the feasibility of RM techniques
	•	Step 4: Select the appropriate RM techniques
	•	Step 5: Implement the Selected RM techniques
	•	Step 6: Monitor results & audit the process
3.	Holistic & Strategic Perspectives on Risk Management
	•	The philosophy of risk
	•	Notion of risk and uncertainty
	•	Historical perspectives of risk management
	•	Holistic risk management: Integrated Risk Management & Enterprise Risk Management
	•	Holistic risk management vs. the "silo" approach
	•	The purpose of risk management: Protect assets or create value
	•	The Risks of Risk Management
	•	Implementing Risk Management in your organization

• CM 2 - Psychology of Decision-Making, Trust, Reputation & Risk Management: Harness the Power of Mental Models, Perception & Communication about Risks to Make Better Decisions and Influence your stakeholders positively(1 day)
CM 2 – Psychology of Decision-Making & Risk



1.	The Psychology of Risk: Individual Perception of Risk
	•	Determining factors of individual attitude toward risk
	•	Factoring human emotions and Heuristics
	•	Comparing perceived risk to actual risk
	•	Risk attitudes and Utility Theory
	•	Overconfidence and underestimation of uncertainty
	•	Anchoring & availability biases in qualitative and quantitative judgments
2.	Group Behaviour and Decision Under Uncertainty
	•	Group factors in risk perception
	•	The mechanics of Groupthink
	•	Conflict and uncertainty: the Abilene Paradox
	•	Groups Culture and Risk
	•	Determinants of risk acceptability
	•	Coping with risk desensitization or risk aversion in groups
	•	The dynamics of escalation of risks in social networks
3.	Managing Public Risk Perception and Reputation: Risk Communication and Regulation
	•	Risk = Hazard + Outrage
	•	Effective Risk Communication
	•	The value and importance of Trust
	•	Reputation Risk Management
	•	Implementing Risk Communication

• CM 3 - Learn Manager's Toolbox for Effective Decision-Making Strategies & Techniques: Get Equipped for the Challenges of an Uncertain and Complex World (includes half-day mock exam) (2 days)
CM 3 – Effective Decision-Making Tools & Strategies



1.	Data Analysis
	•	Basic Concepts
	•	Summary Measures (Measures of Central Tendency, Dispersion, Skewness)
	•	Graphs & Tables
2.	Decision Making: Decision Trees & Influence Diagrams
	•	An overview of Decision Making
	•	Components of a decision
	•	Decision under risk and uncertainty
	•	Structuring the elements of a decision (Influence Diagrams & Decision Trees)
	•	Solving Decision Trees: Folding Back the Tree
3.	More Quantitative Techniques in Risk Management
	•	Flowcharts (Process flowcharts, Supply/marketing/distribution flowcharts)
	•	Program Evaluation Review Technique (PERT)
	•	Fault trees and event trees
	•	Monte Carlo Simulation
	•	Sensitivity Analysis

• CM 4 - Corporate Risk Mapping for Strategic & Operational Planning: Do the right Diagnostic. Identify and Assess Risks to Optimize and Leverage on Opportunities while minimizing the threat(2 days)
CM 4 – Corporate Risk Mapping



1.	Set the Context
	•	What is Risk Mapping?
	•	Risk Mapping Process and methodologies
	•	Link to Strategic Planning
	•	Strategic framework for risk management
	•	Shareholders and other stakeholders’ perspective
	•	How core strategies drive risk exposures and management
2.	Identify Risks
	•	Perceptions and reality in the Identification of Risks
	•	Map your organization's Critical Activities & Processes
	•	Tools for Risks Identification
	•	Use of existing Information to identify Risks
	•	Develop Scenarios to uncover vulnerabilities
3.	Analyzing risks
	•	Evaluating Likelihood and Impact
	•	Qualitative & Quantitative assessment
	•	Plotting the Maps (Radar, Spider, Matrix, etc)
	•	Ranking and prioritizing of Risks
	•	Optimum risk position
	•	Assess the Risk Appetite of the organization

• CM 5 - Treatment Techniques and Solutions to Manage Risks Successfully: Key Risk Controls and Risk Financing Techniques to Protect Your Tangible and Intangible Assets (1 day)
CM 5 Techniques and Solutions to Manage Risks



1.	Property Loss Exposures
	•	Property Values Exposed to Loss
	•	Perils Causing Loss
	•	Financial Consequences of Loss
	•	Interests having Property Loss Exposures
	•	Methods of Discovering Property Exposures
2.	Net Income Loss Exposures
	•	Aspects of Net Income Loss Exposures
	•	Estimating Business Interruption losses
	•	Entities Suffering Losses
	•	Methods of Discovering Net Income Loss Exposures
3.	Personnel Loss Exposures
	•	The nature of Personnel Exposures
	•	Identifying Personnel Loss Exposures
	•	Major Perils
	•	Financial Effects of Personnel Loss Exposures

• CM 6 – The Keys to Business Continuity & Crisis Management: Get Ready! Avert, Prepare For & Recover From Any Crisis (includes half-day final exam & review) (2 days)
CM 6 – Business Continuity & Crisis Management



1.	The Crisis Management Plan
	•	Reputation risk and the importance of trust
	•	Types of crises and disasters
	•	Components of a Crisis Management Plan
	•	Monetary Association of Singapore’s guidelines on BCM
	•	Setting up a Crisis Management Team
2.	The Crisis Communication Plan
	•	The Goals of Crisis Communication
	•	Covello’s 7 rules of risk communication
	•	The crisis communication strategy
	•	The role of media in the social amplification of risk
3.	The Business Continuity Plan
	•	Components of a Business Continuity Plan (BCP)
	•	Developing a BCP
	•	Business Impact Analysis (BIA)

• EM 1 - Advanced Data Analysis: Forecasting and Decision Tools (1 day)
EM 1 - Advanced Data Analysis



1.	Probability Analysis
	•	Developing Data on Past Losses & Potential Risks
	•	Probability Basics
	•	Joint Probabilities
	•	Conditional Probabilities
	•	Bayes Theorem
2.	Applications of Forecasts in Risk Management
	•	Trend Analysis
	•	Arithmetic Trending Techniques
	•	Time Series Analysis
	•	Regression Analysis

• EM 2 - Making Risk Management Decisions Through Cash Flow Analysis (1 day)
EM 2 - Making Risk Management Decisions Through Cash Flow Analysis



1.	Cash Flow Analysis as a Decision Criterion
	•	The Importance of Cash Flows
	•	The Time Value of Money
	•	Methods for Evaluating Cash Flows & Ranking Investment Proposals
	•	Computing Differential Annual After-Tax net Cash Flows
2.	Selecting Risk Management Techniques
	•	Recognizing risk management concerns
	•	Applying risk control techniques
	•	Applying risk financing techniques
	•	Combining risk management techniques
	•	Advantages and disadvantages of cash flow analysis
	•	Adapting cash flow analysis for uncertainty
	•	Adapting cash flow analysis for business risks

• EM 3 - Best Practices for Effective Project Risk Management: Managing Risks Dynamically to Derive More Value From Your Projects (1 day)
EM 3 – Effective Project Risk Management



	•	What is Project Risk Management
	•	External and internal risk factors
	•	Criteria for assessing the acceptability of risk
	•	Scope of risk assessment required at each project stage
	•	The project risk management process
	•	Pre-contract entrepreneurial risk audit
	•	Risk Management Plan
	•	BIARS: Balanced incentive and risk sharing contract

• EM 4 – Leading Corporate Changr: L everaging Your Human Capital with Risk Management: Getting the Best Out of Your human capital While Minimizing the Risks of Something Going Wrong (1 day)
EM 4 – Leveraging Human Capital to Manage Risk



1.	What is Human Capital? Key competitive asset of an organization?
	•	How to Identify Key Persons and ‘Dead Weight’ in your team
	•	Assess the vulnerability profile of Human Capital
	•	The danger of human capital and the issue of fraud
	•	How to attract develop and retain the best human capital
2.	What is Social Capital? Organizational culture, Mental Models and systems
	•	Social Capital a leadership issue to create competitive advantage
	•	How to map Social, informational and power network in an organizations
	•	Risk Management is managing information and knowledge in organization

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Programme Structure

For Professional Accreditation:
Candidates seeking accreditation are required to attend over a three (3) months period:

1. All six core modules (CM1 to CM6) - 10 days
2. Two or four Elective Modules in line with their specific interests – 2 or 4 days

Upon completion of all modules, project & exam, candidates will be awarded the recognized professional designation of

• Certified Professional Risk Manager (CPRM) by the Asian Risk Management Institute

and a professional level certificate

• Professional Certificate in Risk Management by NUS Extension

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Training Method, Formats and Trainers

All course modules are conducted using a unique workshop format that fosters interaction, knowledge sharing and experiential learning. It involves a balanced mix of:

• fondamental lectures;
• interactive case presentations;
• group discussions and sharing of experience;
• problem-solving exercises including computer aided workshops;
• case simulations with 'role plays';

All with a clear focus on real Risk Management issues in an Asian context.

For this program, ARiMI is giving you its top Master Trainers: Marc Ronez and Er Jwee Ping. There are both highly credentialed practitioners, scholars, skilled educators, groundbreaking researchers, and entrepreneurs. They will bring to the participants a wealth of knowledge and experience that will be very useful in the work of the participants. For more information click on the name of the faculty below:

Programme Fees

The CPRM Programme is essentially 12 or 14 full days of interactive workshops packed with knowledge, tools, and reference materials at competitive prices of only about $400+ per day.

- The Course Fees for the Normal and Comprehensive CPRM programmes are eligible for SDF funding for SMEs. 

a) Special 10% discount on Course Fees applicable for NUS Alumni who is not sponsored by an organisation.

b) Special 10% Group discount on Course Fees available for 3 or more participants (from same organization) registering and paying at the same time. 

- A participant is only eligible for one of the above discounts.

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Programme Dates

CERTIFIED PROFESSIONAL RISK MANAGER (CPRM)

2nd Quarter 2008
Core Modules 1 to 3 - April 14-18
Core Modules 4 to 6 - May 12-16
Elective Modules Group 1 - June 11-12
Elective Modules Group 2 - June 9-10

3rd Quarter 2008
Dates not Available yet

Past Participants Came From

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Quotes from Past Participants

“This course is very practical and covers all the key elements of ERM, giving us a comprehensive exploration of the latest ideas, methodologies, tools and practices that can help any organization successfully jump-start the implementation of enterprise risk management successfully.”
Sim Huey Ping, Risk Manager, NTUC Income

“The effective use of interesting case studies and good reference materials helped me grasp the concepts quickly and gave me very practical examples of the application of risk management."
Chua Hwee Leng, Deputy Director - Risk Management, Central Provident Fund Board

“The trainers excelled in facilitating case discussions and creating a stimulating learning environment which allowed participants to share experiences effectively.”
Sandra Ong, AVP Risk Management, Singapore Precision Industry (Mint)

“The CPRM has provided me with the fundamental knowledge, tools and methodologies that are critical for the successful implementation and administration of a robust ERM program. I would highly recommend CPRM fpr all practioners of risk management.”
Alvin Chong, Risk Manager, SingTel - Singapore Telecommunication Ltd

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Take this opportunity and Register for the next intake Now to reserve your Place!