Multi-year programme will design and deliver advanced risk management training for the Hong Kong market

RIMS, the risk management society®, and the Hong Kong Federation of Insurers (HKFI) have agreed on a multi-year programme to design and deliver advanced risk management training for the Hong Kong market.

The two entities will collaborate on the development of education modules, and RIMS risk management experts will teach the online courses. Aligned with guidelines set forth by the Insurance Authority of Hong Kong, the three courses will focus on enterprise risk management (GL21-ERM), ORSA guidelines for insurers (GL10-ORSA) and the risk management domains covered by RIMS-Certified Risk Management Professional certification (RIMS-CRMP).

HKFI was established in 1988 to advance and promote the development of the insurance industry in Hong Kong. 

“One of our key missions is to strengthen professional training across the insurance sector,” said HKFI chief executive Selina Lau. “We are confident that the programme will help equip our member insurers with the requisite knowledge of performing the own risk and solvency assessment.”

“Globally, more and more organisations and government authorities recognise the value of strong risk management and are adopting guidelines, standards and best practices to ensure economic resiliency,” said RIMS CEO Mary Roth. “The risk management profession thrives on collaboration and we are proud to work with HKFI to share our community’s collective knowledge and advance this profession together.” 

The RIMS-CRMP certification received official accreditation by the American National Standards Institute (ANSI) under ISO/IEC 17024:2012 in 2017. The certification explores the following five risk management tenants: analysing business models; designing organisational risk strategies; implementing the risk process; developing organisational risk competency; and supporting decision-making.