What Is Risk Management Certification?

A risk manager identifies, assesses, and mitigates potential risks for companies and organizations. You may review the potential safety, security, or financial risks a company or organization can face to ensure compliance with regulations. Risk managers can work in various fields, including banking, manufacturing, health care, government, and other fields that need risk oversight.

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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

Risk management certifications can help boost your resume and your knowledge of risk management. Review these popular options to see if any fit you and your professional career path.

PMI Risk Management Professional (PMI-RMP)

The Project Management Institute (PMI) offers the PMI Risk Management Professional (PMI-RMP) certification to test your ability to spot problems early, manage project risk, and boost project outcomes. The exam covers topics such as risk identification, risk analysis, and risk response.

Requirements: PMI offers two project requirement options. You can have a secondary degree, such as a high school diploma or associate degree, along with 36 months of project management experience in the past five years and 40 hours of project risk management education, or a four-year degree, such as a bachelor’s degree along with 24 months of project risk management experience within the past five years and 30 hours of project risk management education.

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

RIMS-Certified Risk Management Professional (RIMS-CRMP)

The Risk Management Society (RIMS) offers the RIMS-Certified Risk Management Professional (RIMS-CRMP) certification. It covers topics such as designing organizational risk strategies, implementing risk processes, and supporting risk-based decision-making. If you want to work as a risk management professional within the federal government, you can also opt for the RIMS-CRMP-FED credential. Requirements: RIMS has several requirements for being eligible for the certification exam. You can have a bachelor’s degree or higher in risk management and one year of full-time risk management experience, a bachelor’s degree not in risk management and three years of risk management experience, or be a final-year student enrolled in a bachelor’s degree program with an emphasis on risk management. If you don’t have a college degree, you can still qualify for the exam with six years of risk management experience.

Cost (US): $375 for professional RIMS members and $525 for professional non-RIMS members. Students who are RIMS members will pay $275, while non-members who are students will pay $375 [2].

Certified in Risk and Information Systems Control (CRISC)

The Certified in Risk and Information Systems Control (CRISC) from ISACA focuses on IT risk management. The certificate covers corporate IT governance, IT risk assessment, risk response and reporting, and information technology and security.

Requirements: Three years or more of IT risk management and information systems control experience

Cost: $575 for ISACA members or $760 for nonmembers [3]

Financial Risk Manager (FRM)

For risk management in finance, you can opt for a Financial Risk Manager (FRM) certification with the Global Association of Risk Professionals (GARP). The two exams you need to pass to earn the certification cover topics such as financial markets, market risk management, investment management, and current issues in financial markets. Requirements: At least two years of relevant work experience

Cost (US): $600 for early registration or $800 for standard registration for each of the two exams you need to pass to earn the certification [4]

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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.

Some certifications may not have requirements, while others have specific criteria to meet before pursuing a certification. 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 issues such as 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 with scheduling. You might be able to take the exams online or be required to take them at a specific testing site.

What to expect on risk management certification exams

The exams can vary in format, so you’ll want to know what to expect as you prepare for your certification. Some may be only multiple-choice tests, while others might include multiple-answer questions or other formats.

The topics covered in certification exams can include a variety of subjects and may be specific to a particular field, such as risk management for IT or finance. It’s a good idea to review study materials and seek out practice questions so you know what you expect on an exam.

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 Coursera.

You can boost your earning potential or build your skill set as a risk manager by working toward a risk management certification. If you’re looking to work as an IT risk manager, cybersecurity knowledge is essential, and the Google Cybersecurity Professional Certificate on Coursera can be a great way to start.

professional certificate

Google Cybersecurity

Get on the fast track to a career in cybersecurity. In this certificate program, you'll learn in-demand skills, and get AI training from Google experts. Learn at your own pace, no degree or experience required.

4.8

(41,406 ratings)

888,387 already enrolled

Beginner level

Learn More

Average time: 6 month(s)

Learn at your own pace

Skills you'll build:

Python Programming, Security Information and Event Management (SIEM) tools, SQL, Linux, Intrusion Detection Systems (IDS), Packet Analyzer, Security Hardening, Network Security, Transmission Control Protocol / Internet Protocol (TCP/IP), Network Architecture, Cloud Networks, escalation, resume and portfolio preparation, stakeholder communication, Job preparedness, integrity and discretion, Cybersecurity, Information Security (INFOSEC), Ethics in cybersecurity, NIST Cybersecurity Framework (CSF), Historical Attacks, Computer Programming, Coding, PEP 8 style guide, NIST Risk Management Framework (RMF), Security Audits, Incident Response Playbooks, Authentication, vulnerability assessment, Cryptography, asset classification, threat analysis, Command line interface (CLI), Bash