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Overview

The field of Risk Management entails an in-depth study and review of the potential losses facing an organization. Understanding the risks and identifying the methods to prevent possible losses in a cost effective manner is the goal of this program.

Three courses are being offered in this Seneca program in conjunction with the Global Risk Management Institute. In order to obtain the Canadian Risk Management Certificate (CRM), students must complete the required three courses to obtain the certificate.

The Global Risk Management Institute is the governing body that controls the professional designations for the Canadian Risk Management Certificate.

Entry Requirements

Applicants should have Ontario Secondary School Diploma (Grade 12) with Grade 12 English and Mathematics. Students will require strong general math skills with an emphasis on financial calculations.

Prerequisites

It is your responsibility to ensure that program requirements and course prerequisites as outlined are met. Prerequisites are included for your academic protection. Knowledge of the prerequisite material is assumed by your instructor and instruction will proceed accordingly. Students lacking prerequisites not only jeopardize their own ability to succeed but present unnecessary interruption. If you lack appropriate prerequisites (or Transfer Credit for the prerequisite course) you may be asked to withdraw or transfer to a more appropriate course with the risk of academic/financial penalty.


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Courses

RMA401
Risk Management Foundations
Availability
 

Prerequisite(s):

Students should have strong English language skills. Familiarity with fundamental accounting and insurance principles and completion of Grade 12 English and Mathematics are strongly recommended.

This course is intended for students pursuing the Canadian Risk Management (CRM) designation and is accredited with the Risk and Insurance Management Society (RIMS) and the Global Risk Management Institute (GRMI). This course is intended to teach techniques to examine exposure to property, liability, personnel and net income losses. During this course you will learn how to manage the risks that your business is exposed to. Global risk management standards and guidelines are also discussed and other important financial risks such as liquidity and capital investment are addressed.




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RMA402
Risk Control
Availability
 

Prerequisite(s):

Students should have strong English language skills. Familiarity with fundamental accounting and insurance principles and completion of Grade XII English and mathematics are strongly recommended.

This course is intended for students pursuing the Canadian Risk Management (CRM) designation and is accredited with the Risk and Insurance Management Society (RIMS) and the Global Risk Management Institute (GRMI). Students will learn how the selection, implementation and monitoring of risk-control strategies applies to the insurance industry. In addition, students will examine the causes, costs, work injuries, and property and liability losses of risk control, and study the motivational incentives for loss control. Also, students will explore integrated approaches to managing risk and learn how to implement and monitor non-insurance transfers. Finally, students will gain confidence discussing how to segregate risk into different units of exposure.




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RMA403
Risk Finance
Availability
 

Prerequisite(s):

Students should have strong English language skills. Familiarity with fundamental accounting and insurance principles and completion of Grade XII English and mathematics are strongly recommended.

This course is intended for students pursuing the Canadian Risk Management (CRM) designation and is accredited with the Risk and Insurance Management Society (RIMS) and the Global Risk Management Institute (GRMI). Students will learn about the third leg of the risk-management process with a comprehensive overview of techniques used to finance and manage risk. This course will approach the topic of risk by emphasizing the selection, implementation and monitoring of insurance and financial techniques used to hedge risks. Finally, students will learn the differences between risk-financing techniques and find out how to determine which risk-financing tools suit their organization's needs.




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RMA501
Risk Management Foundations CRM Knowledge Exam Workshop
Availability
 

This one day in-class workshop will provide students with an overview of the 11 functional areas upon which the Canadian Risk Management (CRM) designation exam for "Risk Foundations" is based. This intensive, hands-on workshop will include a review of the course material, a discussion of test-taking strategies and practice exam questions.




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RMA502
Risk Control CRM Knowledge Exam Workshop
Availability
 

This one day in-class workshop will provide students with an overview of the 11 functional areas upon which the Canadian Risk Management (CRM) designation exam for "Risk Control" is based. This intensive, hands-on workshop will include a review of the course material, a discussion of test-taking strategies and practice exam questions.




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RMA503
Risk Finance CRM Knowledge Exam Workshop
Availability
 

This one day in-class workshop will provide students with an overview of the 11 functional areas upon which the Canadian Risk Management (CRM) designation exam for "Risk Finance" is based. This intensive, hands-on workshop will include a review of the course material, a discussion of test-taking strategies and practice exam questions.




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Credit for Prior Learning

Prior Learning Assessment

Earn college credits for what you already know!
Prior Learning Assessment is a method of assessing and recognizing learning that is equal to college level learning, but has been gained outside a traditional classroom (through work experience, volunteering, outside study, etc.). If you can prove that the knowledge you have gained meets the outcomes of a Seneca course, then credit will be awarded.

How does the PLA process work?
Prior Learning is demonstrated through a "challenge" process. The process measures learning through a variety of methods which may include tests, portfolio assessment, interviews, demonstrations, essays, and work samples. The method used will be determined in consultation with a Program Coordinator.
For more information and to determine if you are eligible for PLA, please call the Program Coordinator.

The process may take from 6 to 8 weeks.

Note: Not all courses can be challenged. For more information go to PLA website or contact your Program Coordinator.

Transfer Credit (Advanced Standing)

Many students who enter Seneca College will have earned academic credits in post-secondary educational institutions which they may be able to apply toward completion of a Seneca College program.

Requests for Transfer Credit must be for a specific course and must be accompanied by an official transcript and course outline. A minimum grade of "C" (60 percent) is generally required for a course to be considered for Transfer Credit.

Download a Transfer Credit Request form. An official copy of your transcript and applicable detailed course outlines should be attached and submitted. Please note it may take 4 to 6 weeks for a Transfer Credit decision.

More Information

Please visit the Degree and Credit Transfer Office.

Delivery

A combination of teaching methods such as lectures, small group work and case studies to facilitate the understanding of concepts necessary to complete the RIMs exams.

CRM Designation

  • As of December 31, 2016, all CRM candidates are required to pass the three CRM standardized exams to qualify for the CRM designation.
  • The CRM exam fee is changing from $125 (CAN) to $130 (USD) to align with the Prometric Testing Center fees. Candidates will access an online portal, select one of the three standardized exams, and pay the fee by credit card instead of submitting a cheque by mail.
  • Exam date changes within the same testing window will need to be completed online with Prometric:
    • $130 (USD) exam fee will be forfeited if candidate is a no-show, cancels or reschedules an exam less than 3 business days in advance of the scheduled test date.
    • $130 (USD) exam fee will be refunded if candidate cancels 13 or more business days before the scheduled test date.
  • A fee of $50 (USD) will be charged if the candidate changes the testing window. All testing window changes need to be submitted to GRMI@RIMS.org.
  • Candidates are no longer required to notify GRMI when they register for a CRM course.
  • After completing the three courses and passing the exams, the candidate needs to submit a transcript to GRMI to be awarded the CRM designation.

Program Contacts

Keith Chapin
Program Coordinator
Keith.Chapin@senecacollege.ca
416-491-5050 ext.24043