Financial risk manager certification requires a minimum of two years professional work experience. Professional risk manager certification requires a combination of work experience and a post-secondary degree. Certification as a chartered financial analyst, an associate in risk management or a certified professional in health care risk management requires similar qualifications.
Candidates for certification as financial risk managers complete two multiple choice exams. Topics covered in these exams include financial markets, qualitative analysis, valuation and risk models, and specifics related to the management of various types of risk. Certification as a professional risk manager requires successful completion of four multiple choice exams covering finance theory, financial instruments, mathematical foundations of risk management, standards of practice and ethics.
While all risk management related certifications are challenging, the certified financial analyst credential is perhaps the most difficult, requiring several years to complete the related self-study program prior to the certification examination. Certified financial analysts specialize in investment management.
Associate in risk management certification requires completion of three basic courses followed by successful completion of an exam. The courses include an overview of the field, risk assessment across various types of risk, and insuring against and financially managing risk. Certification as a professional in health care risk management requires a combination of education and five to seven years of health care experience, including 3,000 hours of health care-related risk management work experience.