The Certified Risk Assessor (CRA) certification is ideal for those who wish to advise organisations on any potential risks to the profitability or existence of the company. They identify and assess threats, put plans in place for if things go wrong and decide how to avoid, reduce or transfer risks. The CRA is responsible for managing the risk to the organisation, its employees, customers, reputation, assets and interests of stakeholders. The CRA may work in a variety of sectors and may specialise in a number of areas including enterprise risk, corporate governance, regulatory and operational risk, business continuity, information and security risk, technology risk, and market and credit risk.
AFMA Certification can be obtained either by Direct Application (for those with experience and/or qualifications in the area); or by undertaking an AFMA approved Training Program.
Direct Application: Those applying direct for the CRA certification will need to demonstrate advanced knowledge and experience in: (1) planning, designing and implementing an overall risk management process for the organisation; (2) risk assessment, which involves analysing risks as well as identifying, describing and estimating the risks affecting the business; (3) risk evaluation, which involves comparing estimated risks with criteria established by the organisation such as costs, legal requirements and environmental factors, and evaluating the organisation's previous handling of risks.
Training: For those wishing to undertake training to obtain certification, this course trains individuals to: (1) establish and quantify the organisation's 'risk appetite', i.e. the level of risk they are prepared to accept; (2) risk report in an appropriate way for different audiences, for example, to the board of directors so they understand the most significant risks, to business heads to ensure they are aware of risks relevant to their parts of the business and to individuals to understand their accountability for individual risks; (3) consider corporate governance involving external risk reporting to stakeholders; (4) carry out processes such as purchasing insurance, implementing health and safety measures and making business continuity plans to limit risks and prepare for if things go wrong; (5) conduct audits of policy and compliance to standards, including liaison with internal and external auditors; (6) provide support, education and training to staff to build risk awareness within the organisation.
The Certified Risk Appraiser - CRAtm Board Certification is awarded to individuals who have met our Requirements: