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Fellow in Strategic Risk Management (FSRM)

  • Overview & Benefits
  • Assessment & Process
  • Optional MasterClasses
  • Date, Fees & Application
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Fellow in Strategic Risk Management – ARIMI-FSRM™
Overview and Benefits of the ARiMI-FSRM™ Designation

The Fellow in Strategic Risk Management (ARiMI-FSRM™) is a professional designation in Risk Management designed for top and senior managers who by the nature of their position are responsible for managing risks in their organisation.

In today’s global and uncertain world, the ARiMI-FSRM™ Designation aim to recognize professionals who be able to combine a detailed understanding of risk management issues at a strategic level with sophisticated leadership, managerial and organizational skills. These `global’ leaders/managers are effective in delivering change and securing competitive advantage for their organization and are able to bridge the gaps between the various parts of their organization by using Risk Management. They are the leaders to lead the way to ensure an organization survival and growth in an increasingly complex and volatile business and economic environment.

The Fellows constitute both a group of Experts and a community of where experiences are shared with one another in order to further the development of Enterprise Risk Management as a strategic toolbox that can enhance the long term sustainable economic effectiveness of organizations and of the world economic system. It aims to continuously improve enterprise risk management best practices and to set industry standards.

Who should apply for the ARiMI-FSRM Designation

Benefits of the ARiMI-FSRM Designation

Eligibility Criteria for Admission

 


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ARIMI-FSRM™ Assessment Process for INDUSTRY-TRACK

The ARIMI-FSRM™ Assessment process consists of 3 stages:

1. Initial Application Review

2. ARIMI-FSRM™ Credential Assessment & Verification Process

3. Practice Papers Assessment

Successful applicants will be awarded the Fellow in Strategic Risk Management – ARIMI-FSRM™

ARIMI-FSRM™ Assessment Process for ARiMI-LECP FRAMEWORK™ LEARNING-TRACK

The ARIMI-FSRM™ Assessment process consists of 2 stages:

1. Initial Application Review

2. ARIMI-FSRM™ Credential Assessment & Verification Process

 

Successful applicants will be awarded the Fellow in Strategic Risk Management – ARIMI-FSRM™

 


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Optional Master Classes for ARIMI-FSRM™

If you are applying under the INDUSTRY-TRACK for the ARIMI-FSRM™ Designation, while it is not a requirement of the assessment process, you may find interest in joining some of the Master Classes associated with the ARIMI-FSRM™ Certification.

The Risk Master Classes focuses on the critical role that senior executives play in managing strategic and operational risks as well as championing the design and implementation of effective ERM strategies and practices in their organizations. The Master Classes cover key dimensions of ERM such risk governance, innovation & change management defining and communicating risk-appetite, designing performance systems, creating fostering a culture of risk awareness throughout the organization and so on.

Scroll below to see the detailed list of optional Risk Master Classes to find out more and refer to our program calendar for the respective Master Classes’ dates.

Risk LEADERS Master Class Modules Calendar
RLM1 Risk-Taking & Value Creation Management in Organizations – Principles, Theories & Practices
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RLM2 Business Ethics, Social Responsibility & Corporate Value Sustainability
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RLM3 Innovation, Change & Project Risk Management
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Risk EXPERTS Master Class Modules Calendar
REM1 Risk Assessment & Corporate/Project Value Profile Diagnostic
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REM2 Risk Learning, Communication & Decision-Making
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REM3 Risk Control & Business Continuity Management
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REM4 Risk Financing & Transfer Solutions
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REM5 KRIs/KPIs Dashboard: Risk Monitoring, Reporting & Improvement
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Risk CHAMPIONS Master Class Modules Calendar
RCM1 Designing ERM: Risk Management Frameworks, Systems & Culture
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RCM2 Implementing ERM: Systems Change & Nurturing a Risk-Aware Culture
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RCM3 Sustaining ERM: Managing Changes, Crises & Business Sustainability
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Risk PROFESSIONALS Master Class Modules Calendar
RPM1 Corporate Reputation & Stakeholders Risk Management
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RPM2 Corporate Governance & Enterprise Risk Management
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RPM3 Corporate Ethics, Fraud & Compliance Risk Management
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RPM4 Corporate Control, Internal Audit & Risk Management
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RPM5 Corporate Performance & Human Capital Risk Management
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Once you have registered for the ARIMI-FSRM™ Certfication, you can sign up for any of the Optional Master Classes at a 20% discount on normal fees. If you wish to take advantage of this offer, please contact us.

 


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ARiMI-FSRM™ Certification Process Fee

For INDUSTRY-TRACK applicants, the total fee for the ARiMI-FSRM™ application process is S$2,340, which comprises of the following:

  • S$495 nett application fee that includes initial review, and credential assessment & verification of your application for ARiMI-FSRM™
  • S$695 nett practice paper review fee for 2 Practice Papers. If needed, a coaching session of 1-hour can be arranged.
  • S$1,150 nett certification fee if the ARiMI-FSRM™ designation is awarded, which will be valid for a period of 2 years. Thereafter, biennial renewal is required.

For ARiMI-LECP FRAMEWORK™ LEARNING-TRACK applicants, the total fee for the ARiMI-FSRM™ application process is S$795, which comprises of the following:

  • S$200 nett application fee that includes initial review, and credential assessment & verification of your application for ARiMI-FSRM™
  • S$595 nett certification fee if the ARiMI-FSRM™ designation is awarded, which will be valid for a period of 1 year. Annual renewal with valid ARiMI-CERM™ and ARiMI-CPRM™ is required.

Optional Master Classes for ARIMI-FSRM™ Fees

Once you have cleared the initial review, and credential assessment & verification of your application for ARiMI-FSRM™, you can sign up for any of the Optional Master Classes at a 20% discount on published fees. If you wish to take advantage of this offer, please contact us.

Application Process For INDUSTRY-TRACK Applicants

As there are no compulsory courses to follow, you can apply for ARIMI-FSRM™ certification anytime online.

Before you complete the online application form, you have to check that you meet the eligibility criteria for the ARiMI-FSRM™ designation. To complete your application, you will need to follow the steps outlined below.

  1. Application Form. All applications to the ARiMI-FSRM™ are submitted to enrol@arimi.org. Make sure to thoroughly complete the application form, giving accurate and up-to-date information. You will be required to explain (in detail) your motivation for applying for the ARIMI-FSRM™ designation. Thereafter, an invoice for the application fee will be sent to you by email. Do note that your application will only be considered when the ARiMI Admissions Office receives the application form fully completed and the payment of the application fee has been made.
  2. Credential Assessment & Verification. The next step will require you to provide additional information as set in the Required Documentation.
  3. Outcome of Application. Upon review, credential assessment & verification of your application, you will be informed whether your application can proceed to the next step.
  4. Coaching & Practice Papers. You will need to submit 2 Practice Papers. An invoice of S$695 fee for the review of the practice papers will be sent to you by email. If needed, a 1-hour coaching session can be arranged to guide applicants.
  5. Outcome of Practice Papers Assessment. You will be informed of the outcome of the Practice Papers assessment. If successful, you will be awarded the Fellow in Strategic Risk Management – ARIMI-FSRM™ upon payment of the S$1,150 certification fee.

Application Process For ARiMI-LECP FRAMEWORK™ LEARNING-TRACK Applicants

Before you complete the ARiMI-FSRM™ application form, you have to check that you meet the eligibility criteria for the ARiMI-FSRM™ designation. To complete your application, you will need to follow the steps outlined below.

  1. Application Form. All applications to the ARiMI-FSRM™ are submitted to enrol@arimi.org. Make sure to thoroughly complete the application form, giving accurate and up-to-date information. You will be required to explain your motivation for applying for the ARiMI-FSRM™ designation. Thereafter, an invoice for the application fee will be sent to you by email. Do note that your application will only be considered when the ARiMI Admissions Office receives the application form fully completed and the payment of the application fee has been made.
  2. Credential Assessment & Verification. The institute will verify that the applicant has successfully completed both the ARiMI-CPRM™ and ARiMI-CERM™ with the required grade level.
  3. Outcome of Application. You will be informed of the outcome of your application. If you meet the requirement, you will be awarded the Fellow in Strategic Risk Management – ARIMI-FSRM™ upon payment of the certification fee.

 


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INQUIRY?

If after checking through our website, you have any more questions related to ARiMI and our programs, we are here to assist you.

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Risk LEADERS Module – RLM1
Risk-Taking & Value Creation Management in Organizations - Principles, Theory & Practices
Managing Uncertainty & Creating Value for Your Organisation with Enterprise-wide Risk Management

 

Synopsis

This introductory module provides a framework in developing a dynamic vision of risk management called Enterprise-wide Risk Management (ERM), and a roadmap to understand the reasons for the emergence, the current scope & purpose of Enterprise-Wide Risk Management Principles, Methodologies and Tools. Definitions of risk, risk maturity model, role function and benefits of risk management, Corporate Governance, Stakeholders, the risk management models in use around the world and how to implement them successfully!

Click here for more information about the module

Risk LEADERS Module – RLM2
Business Ethics, Social Responsibility & Corporate Value Sustainability
Leverage the CSR Agenda to Develop a Moral Code of Conduct to Manage Risks & Create Shared Value

 

Synopsis

In a world where there is no clear moral compass to guide leaders through dilemmas about what is right or wrong when managing Risks and Opportunities. This module explores the complex ethical and social dimensions of business and provides a framework that will help participants make and justify difficult decisions. It further explores how to build a Business Model based on CSR to create shared-value through a positive impact of an organization's activities on the environment, consumers, employees and other stakeholders.

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Risk LEADERS Module – RLM3
Innovation, Change & Project Risk Management
Drive Projects Successfully with Risk Management

 

Synopsis

This information-packed module covers the fundamentals of project risk management. You will learn how to establish and implement a structured approach to forecast, monitor and manage risk factors for projects, large and small. You will also learn how you can communicate effectively and share the responsibility of managing project risks with your team members, customers and management.

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Risk EXPERTS Module – REM1
Risk Assessment & Corporate/Project Value Profile Diagnostic
Risk Assessment Methodologies for Strategic & Operational Risk Mapping

 

Synopsis

Modern organisations are now confronted to an increased level of volatility and complexity in today's global business environment. And to make effective decisions, you will need to conduct a proper diagnostic of the risk profile of your organization. This module will introduce our Value and Risk mapping model, highlights the benefits, and summarizes the method of identifying, analysing risks and developing risk maps. It will also describe several applications, some pretty unconventional, for risk mapping in an organisation.

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Risk EXPERTS Module – REM2
Risk Learning, Communication & Decision Making
A practical Guide to Master Communication of RIsk Information & Enable Effective Risk-Taking

 

Synopsis

This module provides the techniques and training in developing people who can master the art and science of communicating about risks with the various groups of internal and external stakeholders. Thus, proactively anticipates on risk issues and prevent crises or if a crisis is inevitable, to limit and overcome the damage it creates.

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Risk EXPERTS Module – REM3
Risk Control & Business Continuity Management
A Framework to Build Resilient Risk Management Systems & Solutions to Foster Effective Risk-Taking, Mitigation & Monitoring

 

Synopsis

This module provides an understanding on the types of ERM Models that can be designed to deal effectively with the risk issues an organization is exposed to. Participants wil learn the Key Risk Controls to Protect your Tangible and Intangible Assets. This module will guide you through a wide range of risk management strategies/interventions, explains how they work and suggests when they are most appropriate.

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Risk EXPERTS Module – REM4
Risk Financing & Transfer Solutions
How to Finance Risks to Your Business and Operations Effectively through the Use of Capital, Insurance & ART Techniques

 

Synopsis

The module provides a detailed understanding on the wide range and types of losses an organisation is exposed to and the potential financial impacts of those losses. Participants wil learn the Key Risk Financing Techniques to protect the Tangible and Intangible Assets. How and when to select and apply the right financing Techniques and how to analyze carefully the pros and cons associated with the financing techniques of transfer, retention and insurance.

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Risk EXPERTS Module – REM4
KRIs/KPIs Dashboard: Risk Monitoring, Reporting & Improvement
Develop an Effective Key Risk Indicators (KRIs) Dashboard to Measure, Monitor & Improve Organisational Performance in Managing Risks.

 

Synopsis

Without proper risk metrics, there cannot be any risk management. This module will explore the two dynamic processes of strategic/operational response and continuous change learning that are critical for an effective risk control system. It also explains how they can be explicitly structured and monitored, using a series of reports and Key Risk Indicators (KRIs) and distributed timely to the people who need them to make the right decisions.

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Risk CHAMPIONS Module – RCM1
Designing ERM: Risk Management Frameworks, Systems & Culture
Design an ERM System Adapted to Your Organization's Needs & Maturity to Foster Effective Management of Risks

 

Synopsis

This module provides a comprehensive framework to design an ERM system and policies adapted to your organization's business needs and maturity, allowing you to address business issues, stakeholders concerns and new regulatory in an efficient and integrated manner. ERM can yield tremendous potential competitive advantage for an organization through an integrated, enterprise-wide perspective on its risk profile aligned with its business model.

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Risk CHAMPIONS Module – RCM2
Implementing ERM: Systems Change & Nurturing a Risk-Aware Culture
Making ERM Part of Your Corporate Culture DNA to Create the Conditions for Effective Risk Information Sharing & Decision-Making

 

Synopsis

This thought provoking and practical module will give participants an insight into the various ERM change methodologies and models, and their implications for corporate systems and culture transformation. You will learn a project implementation roadmap on how to nurture the type of risk-aware culture able to learn and adapt to continuous changes in the environment, and thus creating sustainable value for your organization.

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Risk CHAMPIONS Module – RCM3
Sustaining ERM: Managing Changes, Crises & Business Sustainability
Protect Your Organization's Present & Future with Effective Crisis Management & Communication Preparedness

 

Synopsis

This module emphasizes on the importance of ERM to build the organizational capability for contnuous learning and business renewal. It provides a roadmap to deal with change and crises with a practical problem-solving approach and a focus on the importance of system resilience, stakeholders' perceptions management, effective crisis communication and preparedness in preventing or controlling crisis situations.

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Risk PROFESSIONALS Module – RPM1
Corporate Reputation & Stakeholders Risk Management
Manage Your Reputation as a Strategic Asset to Create Competitive Advantage in the Marketplace

 

Synopsis

In today’s volatile and competitive world, the value of corporate reputation is a key component of business and organizational performance. This module provides participants with a road map on how to manage Reputation as a strategic asset to create competitive advantage in the marketplace. It covers how to manage communication with key stakeholders to build a strong relationship and a survival guide on how to preserve reputation through a crisis.

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Risk PROFESSIONALS Module – RPM2
Corporate Governance & Risk Management
Strengthen Corporate Governance to Promote Transparency, Accountability and Effectiveness in Management Practices

 

Synopsis

Corporate collapses and the financial crisis have highlighted the weaknesses of existing internal controls and risk management systems and the need for a higher level of corporate governance to better align and protect the diverging interests of the various stakeholders in the corporate “game”. This module will guide you through a comprehensive plan on how to strengthen corporate governance by promoting transparency, accountability and effectiveness in management practices.

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Risk PROFESSIONALS Module – RPM3
Corporate Ethics, Fraud & Compliance Risk Management
Leverage Regulatory Compliance Requirements to Create Value with Risk Management, and Combatting Fraud with Strong Corporate Ethics & Effective Prevention/Detection Systems

 

Synopsis

This practical module will provide you with the most updated current methodologies and best practices to protect your organization against fraud with strong corporate ethics, effective prevention and detection systems. Participants will also understand the extent to which organizations are exposed to the ever-increasing regulatory environment, how to identify the risk and compliance issues that have most significance and how to integrate and leverage a compliance management program within the ERM system of your organization.

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Risk PROFESSIONALS Module – RPM4
Corporate Control, Internal Audit & Risk Management
Best Practices for Auditing Risk Management & Conducting Effective Risk-Based Internal Audit

 

Synopsis

This module provides a practical roadmap on how to conduct effective Risk-Based Internal Audit (RBIA). You will learn how you can employ risk-based methodologies in planning and conducting audits to provide assurance on the adequacy of integrated risk management practices and management control frameworks.

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Risk PROFESSIONALS Module – RPM5
Corporate Performance & Human Capital Risk Management
Enhance Your Human Capital Resilience & Productivity Using Risk Management, and Reward Real Performance through Risk-Adjusted Performance Management Systems

 

Synopsis

This module presents a methodology that maps the human relationships in organizations to identify where and how they affect organization performance. You will learn how you can influence your people and nurture the type of behavior & culture that supports sustainable value creation for your organization. This module will also teach you how to develop and use the right risk-adjusted Key Performance Indicators to drive your people’s behavior and support your business performance. By linking unambiguously the results and decision-making processes with appropriate metrics, considering all the risks involved, you will ensure that your staff’s behavior will be aligned with your organization objectives and interests.

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