The Requirements to Become a Risk Management Manager

It is possible to stay abreast of Risk Management issues and problems by subscribing to
certain magazines devoted to the various areas of Risk Management.

The Risk and Insurance Management Society, Inc. publishes its own online magazine known as
the Risk Management Magazine. It allows executives and other individuals who are involved
somehow or interested in Risk Management per se to: send press releases about their company;
advertise their products and services; and generally stay on top of the world of Risk
Management and developments in it. It also accepts articles from contributing writers who
write about Risk Management issues and problems. However, the magazine does not pay
contributors for any articles that they submit and are published. One new risk that was
covered in this magazine is Climate Change and the risks that are produced by or related to
this global phenomenon.

Another company that publishes information about Risk Management is, though its
online newsletter – CFO magazine – is not solely devoted to Risk Management alone. Risk
Management is just one of the topics that it covers as part of its service to the financial
officers of organizations.

The Energy Risk magazine is concerned with risks inherent to energy-related industries
throughout the world. Some sub-fields of Risk Management that it talks about are ethanol
risks, the risks in the US power market, weather risk management, risks in private equity
and energy, and risks in gas trading (among others.) Another magazine that came out from
the same group that produces Energy Risk Magazine is Commodity Risk Magazine which releases
information about commodities risk management and trading.

Strategic Risk is another magazine that online readers can subscribe to (like the others
mentioned here.) There are other publications which are also released by the same people
behind Strategic Risk, namely, Catastrophe Risk Management, Insurance Times, and Global


A Risk Management Manager may be more commonly known as a Registered Risk Practitioner,
according to the risk management educational institution called the Institute of Risk
Management. To become a Registered Risk Practitioner, you should first complete the
training requirements to get your Certificate in Risk Management.

The Certificate in Risk Management is your stepping stone to applying for the Diploma
in Risk Management – though you may already apply to become a Registered Risk
Practitioner after completion of the Certificate. If you register as a Registered Risk
Practitioner, you should show proof that you either have experience related to Risk
Management, or qualifications in the field. Without those two requirements, you can only
become a Registered Risk Practitioner if you have undergone Continuing Professional
Development as well.

The Continuing Professional Development qualification can only be attained if you succeed
in earning 300 points within a three-year period. Certificants, Members and Fellows can
apply to earn these points. (There will be a yearly audit of pertinent membership grades
based on a sample taken.) However, if you are currently trying to earn your Diploma in Risk
Management, you need not undergo the Continuing Professional Development program.

You may be able to get work (and appropriate compensation) in the following risk
management-related occupations after you have gotten your qualifications:

1.    Risk and Insurance Manager – you can receive a minimum of 27,492 British pounds in
this position.
2.    Senior Risk Manager – compensation tops out at 40,000 British pounds, depending on
your level of experience.
3.    Risk Management Adviser – merits compensation of at least 29,880 British pounds.

As you can see, risk management jobs actually pay very handsomely – if you are qualified.