Enterprise Risk Management | FERMA RIMAP Certification

The competitive advantage driven by enterprise risk management.

University of Latvia Enterprise Risk Management course is based on practical learning materials developed in collaboration with the Risk Management experts' team and the European Federation of Risk Managers (FERMA).

What advantages will you gain from this course?

Enrolling in this course provides several key advantages:

• Recognized Certification: Earning the FERMA RIMAP certification demonstrates a high level of competence in risk management, providing recognition from a leading professional organization.
• Knowledge and Skills: The course offers comprehensive training in enterprise risk management principles, methodologies, and best practices, improving your ability to identify, assess, and manage risks effectively.
• Career Advancement: The certification can enhance your professional credentials, making you a more competitive candidate for advanced roles in risk management and related fields.
• Practical Application: The course provides practical insights and tools that you can apply directly to your organization’s risk management processes, improving their effectiveness and efficiency.
• Networking Opportunities: Joining a FERMA RIMAP course connects you with a network of risk management professionals, allowing you to share experiences, gain insights, and develop professional relationships.
• Strategic Insight: Understanding enterprise risk management at a strategic level helps you align risk management with organizational goals, ensuring that risks are managed proactively and strategically.
• Compliance and Governance: The course enhances your understanding of regulatory requirements and governance standards, helping your organization stay compliant and manage regulatory risks.
• Holistic Risk Perspective: You will gain a comprehensive view of risk that encompasses operational, financial, strategic, and reputational risks, enabling a more integrated approach to managing risk.
• Improved Decision-Making: Enhanced risk assessment and management capabilities lead to better-informed decision-making, reducing uncertainty and supporting more robust strategic planning.
• Adaptability and Resilience: By learning to identify and manage potential risks effectively, you can help your organization become more adaptable and resilient to changes and unexpected events.
• Enhanced Organizational Value: Effective risk management contributes to the overall value and sustainability of the organization, protecting assets and ensuring long-term success.
• Access to Resources: The certification provides access to a wealth of resources, including guidelines, frameworks, and tools developed by FERMA, supporting ongoing learning and professional development.

This contributes to personal professional growth and enhancement of organizational risk management practices, driving individual and organizational success.

Is this course a good fit for you?

This course will be an effective solution for:

• Risk Managers: Professionals currently working in risk management roles who want to deepen their knowledge and skills, and obtain a recognized certification to enhance their credentials.
• Compliance Officers: Individuals responsible for ensuring that their organizations comply with relevant laws and regulations, who need to understand and manage risk more effectively.
• Insurance Professionals: Those working in the insurance industry, particularly in roles related to underwriting, claims, and risk assessment, who require a comprehensive understanding of enterprise risk management.
• Internal Auditors: Auditors tasked with assessing and improving the effectiveness of risk management, control, and governance processes within their organizations.
• Finance Professionals: CFOs, controllers, and other financial executives who need to integrate risk management into financial planning and decision-making processes.
• Consultants: Management and risk consultants who advise organizations on risk management strategies and practices, and who want to validate their expertise with a formal certification.
• Corporate Executives: Senior leaders, such as CEOs, COOs, and board members, who need to understand enterprise risk management to make informed strategic decisions and ensure the long-term success and sustainability of their organizations.
• Project Managers: Those managing large, complex projects where risk management is critical to achieving project goals and mitigating potential issues.
• Public Sector Professionals: Government employees involved in policy-making, regulation, or management of public services, where understanding and managing risk is essential for effective governance and service delivery.

Experts 

Prof. Inna Romānova. Professor of Finance at the Faculty of Economics and Social Sciences at the University of Latvia, the Director of the Scientific Institute of Economics and Management, and the Director of the professional master’s degree program in Financial Economics. She is an Economics and Management Sciences expert at the Latvian Academy of Sciences. She has more than fifteen years of academic experience in Latvia and abroad and is a visiting professor at several European universities. She also has professional experience in banking and finance, both in Latvia and Germany. Her research focuses on Financial Technologies, Financial and Risk Management.

Prof. Simon Grima. Deputy Dean of the Faculty of Economics, Management and Accountancy, Associate Professor and the Head of the Department of Insurance and Risk Management. Simon is also a Professor at the University of Latvia, Faculty of Business, Management and Economics and a visiting Professor at UNICATT Milan. He served as the President of the Malta Association of Risk Management (MARM), is the current president since 2023 and was President of the Malta Association of Compliance Officers (MACO) between 2013 and 2015, and between 2016 and 2018 respectively. Moreover, he is the chairman of the Scientific Education Committee of the Federation of European Risk Managers (FERMA) and is a member of the Strategic Risk Leaders Association (SRLA) previously the Public Risk Management Association (PRIMO).

His research focus is on Governance, Regulations and Internal Controls and has over 30 years of experience varied between Financial Services, academia and public entities. He has acted as co-chair and is a member of the scientific program committee on some international conferences and is a chief editor, editor and review editor of some Journals and Book Series. He has been awarded outstanding reviewer for Journal of Financial Regulation and Compliance in the 2017 and 2022 Emerald Literati Awards. Moreover, Simon acts as an Independent Director for Financial Services Firms, sits on Risk, Compliance, Procurement, Investment and Audit Committees and carries out duties as a Compliance Officer, Internal Auditor and Risk Manager.

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Mark Lawrence Zammit. Experienced professional in banking, insurance, and financial services, with over 25 years of experience in retail banking, financial services, insurance, and business consultancy. He holds a master's degree in insurance & risk management from the University of Malta and a certification in International Business Law from City University in London.

Mark has extensive expertise in operations management, recruitment and training, and risk management. He founded ATCS Consultancy Ltd, specializing in legally certified translations. Additionally, he serves as a Visiting Senior Lecturer at the University of Malta, teaching risk management, insurance, and governance & compliance.

He is an independently licensed Risk Manager via AIRMIC (London) and MFSA (Malta), and a member of FERMA with RIMAP certification. Currently, Mark is the Chief Risk and Compliance Officer at RCI Insurance Ltd, overseeing internal control, risk management, legal, and compliance teams, and handling legal contracts and insurance terms under the Insurance Distribution Directive.

Schedule

• Day 1: Introduction to Risk Management, Basics of Risk Management

• Day 2: Risk Assessment

• Day 3: Risk Treatment Methods

• Day 4: Risk Financing

• Day 5: Risk Transference

• Day 6: Exam – 100 Multiple Choice Questions (2h)

Duration: Total 25h, 5 days on the 6th the final exam

Delivery: In presence/hybrid (for exam must be in presence)

Certificate on completion: Certificate in Professional Risk Management from The Federation of European Risk Management (FERMA) at level 7 under the EQF framework, 5 ECTS

The course fee includes

• Course material
• Accreditation by FERMA
• Free one-year FERMA membership
• Coffee – breaks

Contact us +371 25695131, profesionalis@lu.lv