Ferma’s risk manager certification plans uncovered
Julia Graham: “We have done a lot of homework on what certification might look like and what our associations want. We have listened, looked at a number of different potential business models and, having done the groundwork, have now taken a decision at Ferma board level to ‘go’ and move from the research to the planning stage for a pan-European certification, which is big hurdle to overcome.
A small steering group focused on certification that includes Ferma board members Michel Dennery, Isabel Martinez, Jo Willaert and myself, supported by Marie Gemma Dequae and Pierre Sonigo, have recently sat down and devised a project and governance structure for planning towards certification. We think there should be four pillars of certification-knowledge, experience, ethics and CPD (continuous professional development).
So we have cut the project work into a number of sub projects to reflect these pillars, plus a group looking at the business model and how we are going to make it work, including the financials.
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In these project groups we are also going to involve our member associations because although you might not want to work by committee, it is certainly going to be worked by consultation. We are very keen to make sure our members are engaged and help us drive this work.
Delivering certification
We continue to confirm that Ferma is not going to become a provider of education, nor will we tell member associations that they cannot develop their own solutions-which of course some already provide and will continue to provide. Nor will we expect those with pre-existing qualifications and experience to start again-we need to establish how and at what level these might converge into the agreed certification standard.
We are also talking with providers of learning to understand their programmes and plans for the future.
To emphasise again, it is very important for everyone to realise that whatever education or qualifications you currently have, this is not going to be thrown away or disregarded. You may need to do some extra work to get certification but what you have will have a value.
In summary, Ferma will establish a framework to allow certification of learning programmes run by associations, commercial education bodies, institutes and universities. The Ferma certification stamp of approval will boost the standing of eligible education offerings.
Some learning will come up to standard, some will partly come up to standard and some will not come up to standard. The certification standard will however give learning providers, professionals and students a consistent idea of what ‘good’ looks like and an idea of what they need to do, or strive towards, to achieve and maintain the Ferma certifiable standard. What is clear is we want something that has international recognition.
So in the end risk managers will be certified by Ferma through a combination of knowledge, experience, ethical standards and the CPD they receive from education providers and other bodies, including their Ferma member association and Ferma itself. For example, the Ferma seminar and forum will attract PD ‘points’.
We may work with a third party to help us deliver and achieve certification because this type of process and administration is not what we as Ferma do. But what we can do is bring the associations together, and we have the profile and vision through liaison with our associations and their members of what they and we want.
The next stage is to get on with it.
Towards global certification?
Because whatever sector or jurisdiction you operate in much of the risk management process can be generic this is one of things we want to talk to associations outside of Ferma about.
We know a number of other associations are thinking of doing something in this area. Perhaps we can share and learn from each other. If you are a risk manager in the US, Asia, Australia, the Middle East or Africa-or indeed in Europe-many of the credentials for certification are going to be quite similar.
As president of Ferma, I also now have the opportunity to be on the board of the International Federation of Risk and Insurance Management Associations (Ifrima), and it may well be that Ifrima can also help to bring things together globally.
So we are not ruling out that we can work together, but our objective and focus must be to deliver something for Ferma.
The need for certification
Certification will raise the profile of professionalism in risk management.
Evidence suggests that in this complex and ever faster-moving world the profile of risk management is set to increase and with this the profile of risk managers and potentially their involvement in board or ‘C-Suite’ level activities, or even on the board in some cases. A certification that you can hold up as a recognised credential can only help your cause. We are confident its recognition will be of value.
Aimed at risk managers or insurance buyers?
We decided to focus on risk managers to start with. That doesn’t exclude people who are insurance managers, or both insurance and risk managers, from taking the certification route. The principles that you need to manage insurance, one would hope, relate closely to managing risk! So even if you are an insurance manager, it shouldn’t preclude you from seeking certification.
The theme all the way through certification, as with any Ferma objective, is doing things with and on behalf of our member associations that demand a collective response where Ferma can add a unique value.”
Julia Graham is President of Ferma and a member of the certification steering group. She is Director of Risk Management and Insurance for the international law firm DLA Piper.