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9 Best Risk Management Certifications of 2026
This list is for risk analysts and risk managers choosing a professional credential, from bank market and credit risk teams to corporate ERM, IT risk, project risk and internal audit. We compared nine certifications from GARP, RIMS, ISACA, PRMIA, PMI, The Institute of Internal Auditors, The Institutes and the Institute of Risk Management using what each issuer publishes: exam format, eligibility, time to finish and U.S. dollar fees. We compared documented features and published prices. Scores weigh features (depth and fit for risk work) at 40 percent, and ease of access (prerequisites, exam load, time) and value at 30 percent each. PMI, The Institutes and IRM prices could not be confirmed in USD from our location, so they are marked as pending.
By the Mojolin research desk · Updated November 11, 2026 · 9 tools compared · Prices checked on vendor pages, latest November 11, 2026
Questions or corrections: editorial@mojolin.com
Mojolin is self-funded How we score
The FRM is our top pick because it is the credential most closely matched to financial risk work, with two four-hour exams and USD 600 per part at early registration, though new candidates also pay a USD 400 enrollment fee and GARP reports candidates study about 240 hours on average. Corporate and enterprise risk managers should look at the RIMS-CRMP first: one 120-question exam, ANAB accreditation and a USD 375 member fee. IT and cyber risk staff should take ISACA's CRISC. PRMIA's PRM is a flexible alternative to the FRM, the PMI-RMP fits project risk, the CRMA fits internal auditors, GARP's SCR adds climate risk, the ARM suits insurance professionals and the IRM certificate is the regulated ERM option for the UK and international markets.
Top picks
Best overall
GARP Financial Risk Manager (FRM)
8.5 / 10
risk analysts and managers in banks, asset managers and other financial firms
Read the review →Runner-up
RIMS-Certified Risk Management Professional (RIMS-CRMP)
8.4 / 10
corporate and enterprise risk managers outside banking
Read the review →Also great
ISACA Certified in Risk and Information Systems Control (CRISC)
8.3 / 10
IT risk, cyber risk and technology GRC professionals
Read the review →Comparison table
| # | Tool | Pricing | Score | |
|---|---|---|---|---|
| 1 | GARP Financial Risk Manager (FRM) | risk analysts and managers in banks, asset managers and other financial firms | Part I exam from USD 600 at early registration, plus a one-time USD 400 enrollment fee for new candidates | 8.5 |
| 2 | RIMS-Certified Risk Management Professional (RIMS-CRMP) | corporate and enterprise risk managers outside banking | Exam application USD 375 for RIMS members, USD 525 for non-members; student rates from USD 275 | 8.4 |
| 3 | ISACA Certified in Risk and Information Systems Control (CRISC) | IT risk, cyber risk and technology GRC professionals | Exam US$575 for ISACA members, US$760 for non-members, plus a US$50 application processing fee | 8.3 |
| 4 |  PRMIA Professional Risk Manager (PRM) | financial risk professionals who want a flexible, exam-in-any-order path | USD 650 per exam for Sustaining, Corporate or RIM members, or USD 1,200 for the two-exam bundle; non-members pay USD 800 per exam | 8.0 |
| 5 |  PMI Risk Management Professional (PMI-RMP) | project managers and project risk specialists | See vendor pricing (USD check pending) | 7.9 |
| 6 |  IIA Certification in Risk Management Assurance (CRMA) | internal auditors and risk assurance staff | Exam USD 465 for IIA members, USD 610 for non-members; application USD 100 for members, USD 220 for non-members | 7.8 |
| 7 | GARP Sustainability and Climate Risk (SCR) Certificate | risk analysts adding climate and sustainability risk skills | From USD 550 for GARP Individual Members at early registration; USD 650 to USD 750 for non-members | 7.5 |
| 8 |  The Institutes Associate in Risk Management (ARM) | insurance professionals, agents and brokers moving into risk management | See vendor pricing (USD check pending) | 7.4 |
| 9 |  IRM International Certificate in Enterprise Risk Management | ERM practitioners in the UK, Europe and other international markets | See vendor pricing (USD check pending) | 7.2 |
Scoring weights
Every tool gets three editorial scores out of 10, from vendor documentation, product pages and the published price. The overall score is the weighted average below, the same method on every list. Full method
The full ranking
Rank 1 · Best overall
GARP Financial Risk Manager (FRM)
GARP's two-exam certification for financial risk managers, covering market, credit, operational and liquidity risk.
garp.org8.5
out of 10
Best for: risk analysts and managers in banks, asset managers and other financial firms
The FRM from the Global Association of Risk Professionals is the credential most closely tied to financial risk work, which is why it ranks first for risk analysts and managers. It is earned through two computer-based, multiple-choice exams: Part I has 100 questions on risk foundations, quantitative analysis, financial markets and products, and valuation and risk models, while Part II has 80 questions that apply those tools. Each exam allows four hours and is graded pass or fail. GARP says candidates spend about 240 hours studying on average. After the exams, you submit two years of relevant full-time work experience, which can be gained before or after testing. Fees for the 2027 windows are USD 600 per part at early registration and USD 800 at standard registration, and new candidates also pay a one-time USD 400 enrollment fee. The total cost and study load are higher than single-exam options such as the RIMS-CRMP, but no other credential here goes as deep on market and credit risk.
Standout feature
Two exams of 100 and 80 questions, four hours each, built around financial risk.
Use cases
Junior market or credit risk analysts at banks
Build the quantitative base for a risk manager role
Outcome: A credential that covers valuation, risk models and financial products
Finance graduates moving into risk
Show employers risk knowledge before gaining two years of experience
Outcome: Exams passed now, certification awarded once experience is submitted
Key features
- Part I has 100 multiple-choice questions and Part II has 80, with four hours for each exam
- Both exams are computer-based and scored pass or fail
- Certification requires two years of relevant full-time work experience, submitted within 10 years of sitting Part II
- Candidates have four years from passing Part I to pass Part II
- GARP reports that candidates study about 240 hours on average
Pros
- Covers the core quantitative and financial risk topics in one program
- Work experience can be earned before or after the exams
- Early registration price of USD 600 per part is USD 200 below the standard USD 800
Cons
- New candidates pay a one-time USD 400 enrollment fee on top of the Part I fee
- Two exams and a reported 240-hour average study time make it the longest exam route here
- Content is centered on financial institutions, so it fits corporate or project risk less well
Rank 2 · Runner-up
RIMS-Certified Risk Management Professional (RIMS-CRMP)
RIMS' ANAB-accredited certification for enterprise and corporate risk managers in any industry.
rims.org8.4
out of 10
Best for: corporate and enterprise risk managers outside banking
The RIMS-CRMP from the Risk and Insurance Management Society is aimed at risk managers who run enterprise risk, insurance and resilience programs in companies, public bodies and nonprofits. It is the most direct route on this list: one computer-based exam of 120 multiple-choice questions in two hours, graded pass or fail. The credential is accredited by the ANSI National Accreditation Board under ISO/IEC 17024:2012, an independent check that many certifications lack. RIMS membership is optional, but the application asks for higher education details and qualifying work experience, backed by an official transcript and a signed employment verification form. The exam application costs USD 375 for RIMS members and USD 525 for non-members, with student rates of USD 275 and USD 375, and those fees include a nonrefundable USD 100 processing fee. RIMS sells a candidate handbook, study guide, self-paced course and prep workshops. It is less quantitative than the FRM, which suits corporate risk roles better than trading-floor ones.
Standout feature
One 120-question, two-hour exam for USD 375 for RIMS members.
Use cases
Enterprise risk managers at manufacturers or retailers
Formalize ERM experience with a recognized credential
Outcome: An accredited certification earned through one exam
Insurance and claims staff moving into risk management
Shift from coverage work to broader risk programs
Outcome: A credential that spans risk assessment, treatment and governance
Key features
- One exam: 120 multiple-choice questions in 2 hours, computer-based
- Accredited by the ANSI National Accreditation Board under ISO/IEC 17024:2012
- RIMS membership is not required to apply
- Application checks higher education and qualifying employment experience, with an official transcript and employment verification form
- Student rates of USD 275 for members and USD 375 for non-members
Pros
- Lowest member exam fee on this list at USD 375
- Single two-hour exam instead of a multi-exam program
- Covers risk management across industries rather than one sector
Cons
- Application fees include a nonrefundable USD 100 processing fee
- You must take the exam within your authorized timeframe or forfeit the fee
- Less quantitative depth than the FRM or PRM for financial risk roles
Rank 3 · Also great
ISACA Certified in Risk and Information Systems Control (CRISC)
ISACA's certification for professionals who identify, assess and manage IT and enterprise technology risk.
isaca.org8.3
out of 10
Best for: IT risk, cyber risk and technology GRC professionals
ISACA's CRISC is the strongest pick for risk professionals whose work centers on information systems, cybersecurity and technology controls. The exam covers four domains: Corporate IT Governance, Risk Assessment, Risk Response and Reporting, and Technology and Security. You can take it before you have the required experience, then apply for certification within five years of passing once you have three or more years of CRISC-related work across at least two of the four domains. The exam costs US$575 for ISACA members and US$760 for non-members, and certification adds a one-time US$50 application processing fee. ISACA says more than 30,000 professionals hold the CRISC. Study options from ISACA include an 833-question practice database with a six-month subscription and a digital review manual. For risk analysts in banking or corporate ERM, the FRM or RIMS-CRMP is a closer fit, but for IT risk and GRC teams the CRISC is the credential most aligned with the job.
Standout feature
Four IT risk domains, with a five-year window to add experience after the exam.
Use cases
IT auditors and security analysts
Move into an IT risk or GRC manager role
Outcome: A credential focused on assessing and responding to technology risk
Third-party and vendor risk analysts
Show structured knowledge of IT governance and controls
Outcome: Certification across four technology risk domains
Key features
- Four domains: Corporate IT Governance, Risk Assessment, Risk Response and Reporting, and Technology and Security
- Certification requires three or more years of work experience across at least two of the four domains
- Exam must be passed within the five years before you apply
- One-time US$50 application processing fee after passing
- ISACA reports more than 30,000 professionals hold the CRISC
Pros
- Focused on IT and technology risk, a growing share of risk roles
- Five-year window to collect the experience after passing the exam
- ISACA sells an 833-question practice database and a review manual
Cons
- Non-member exam price of US$760 is the highest single exam fee on this list
- Needs three years of experience in at least two CRISC domains
- Narrower than the FRM or RIMS-CRMP for non-technology risk
Rank 4
PRMIA Professional Risk Manager (PRM)
PRMIA's two-exam designation covering risk theory, risk measurement, ERM and operational risk frameworks.
prmia.org8.0
out of 10
Best for: financial risk professionals who want a flexible, exam-in-any-order path
The Professional Risk Manager designation from the Professional Risk Managers' International Association is the main alternative to the FRM for financial risk staff. It now runs as two exams, PRM 1 and PRM 2, which can be taken in any order through Pearson VUE, and you need 60 percent or higher on each. All required exams must be passed within two years. Each exam fee includes digital handbooks: PRM 1 covers foundational risk theories and the mathematics of risk measurement, while PRM 2 covers enterprise risk management and operational risk frameworks. Sustaining, Corporate and RIM members pay USD 650 per exam or USD 1,200 for both, and non-members pay USD 800 or USD 1,500. PRMIA says the application fee is being waived, with experience confirmed after the exams. Eligibility requires a current Sustaining or RIM membership plus a graduate degree, a CFA charter, a bachelor's with two years of relevant work, or four years of work. It has a smaller following than the FRM but gives more flexibility in exam order.
Standout feature
Two exams in any order, with handbooks included in the fee.
Use cases
Risk analysts with a master's in finance
Earn a risk designation on a flexible schedule
Outcome: Two exams taken in any order within two years
Graduates of PRMIA-accredited programs
Shorten the path to a risk designation
Outcome: Possible exemption from PRM Exam 1
Key features
- Two exams, PRM 1 and PRM 2, which can be taken in any order
- Pass mark of 60 percent or higher on each exam
- All exams must be passed within a two-year period
- Exam fees include digital handbooks, such as Foundational Theories and Techniques for Risk Management
- Graduates of PRMIA-accredited university programs may be exempt from PRM Exam 1
Pros
- Two-exam bundle saves USD 100 for members over buying exams one at a time
- PRMIA says the application fee is now waived, with experience confirmed after the exams
- Study handbooks are included in the exam fee
Cons
- Candidates must hold a current PRMIA Sustaining or RIM level membership
- Non-members pay USD 800 per exam, USD 1,500 for the bundle
- Needs a graduate degree, a CFA charter, or a bachelor's plus two years of experience (or four years of experience)
Rank 5
PMI Risk Management Professional (PMI-RMP)
PMI's certification for professionals who manage risk on projects and programs.
pmi.org7.9
out of 10
Best for: project managers and project risk specialists
The PMI Risk Management Professional certification from the Project Management Institute is the pick for people whose risk work happens inside projects and programs rather than across a whole enterprise or balance sheet. The exam has 115 questions with 150 minutes allowed. Eligibility depends on education: holders of a bachelor's degree need 24 months of project risk management experience in the past five years plus 30 hours of project risk education, those with a secondary school diploma need 36 months and 40 hours, and graduates of GAC-accredited programs need 12 months and 30 hours. PMI charges the exam fee only after your application has been accepted. PMI's U.S. page lists a member price of $520, but we could not confirm the fee from our location, so the price is marked as pending. For project managers who already hold a PMP, the PMI-RMP adds a specialist risk credential from the same body. It carries less weight in financial or insurance risk departments, where the FRM, PRM or RIMS-CRMP is a better match.
Standout feature
The only credential here built entirely around project risk management.
Use cases
PMP holders on large capital projects
Add a specialist risk credential
Outcome: A PMI certification focused on project risk
Project risk analysts without a degree
Qualify through experience
Outcome: Eligibility with 36 months of project risk experience and 40 hours of education
Key features
- Exam of 115 questions in 150 minutes
- With a bachelor's degree: 24 months of project risk management experience in the last 5 years and 30 hours of risk education
- With a secondary school diploma: 36 months of project risk experience and 40 hours of risk education
- Graduates of GAC-accredited programs need 12 months of project risk experience
- Exam fee is paid only after your application is accepted
Pros
- Built for risk on projects, which the other credentials here cover only lightly
- Three eligibility sets, including a route without a degree
- Exam fee is charged only once your application is approved
Cons
- Experience must be specifically in project risk management
- Less recognized in bank and insurance risk roles than the FRM or RIMS-CRMP
- Requires 30 to 40 hours of project risk education before applying
Rank 6
IIA Certification in Risk Management Assurance (CRMA)
The Institute of Internal Auditors' certification for giving assurance on risk management to audit committees and executives.
theiia.org7.8
out of 10
Best for: internal auditors and risk assurance staff
The CRMA from The Institute of Internal Auditors is built for people who review and report on risk management rather than run it day to day. It covers risk, governance and assurance, and the IIA describes it as reflecting the knowledge needed to give risk management assurance to audit committees and executive management. The CIA is no longer a prerequisite. Candidates sit one exam of 120 questions in 150 minutes and have two years to pass once their application is approved. On the master's degree route, you need one year of internal audit experience, which can be gained after you sit the exam. Fees are USD 100 for the application and USD 465 for the exam for IIA members, or USD 220 and USD 610 for non-members, so a member pays USD 565 in total. The IIA notes the exam is based on the 2017 Standards and that there are no current plans to update it. Risk managers outside internal audit will get more from the RIMS-CRMP.
Standout feature
120 questions in 150 minutes, and the CIA is no longer required.
Use cases
Internal auditors
Specialize in auditing risk management processes
Outcome: A risk assurance credential without first earning the CIA
Second-line risk staff moving to audit
Learn the assurance view of risk
Outcome: Certification focused on reporting risk to audit committees
Key features
- One exam of 120 questions in 150 minutes
- Two years to complete the exam once your application is approved
- The CIA designation is no longer a prerequisite
- Master's degree route requires one year of internal audit experience, which can be gained after the exam
- Application fee of USD 100 for members and USD 220 for non-members
Pros
- No longer requires the CIA first, which opens it to more candidates
- Member exam fee of USD 465 is among the lowest here
- Single exam with a two-year window to pass
Cons
- Experience must be in internal audit, not general risk management
- IIA says there are no current plans to update the exam, which is based on the 2017 Standards
- Focused on assurance over risk, not on running a risk function
Rank 7
GARP Sustainability and Climate Risk (SCR) Certificate
GARP's single-exam certificate on sustainability, climate risk, nature risk and transition planning.
garp.org7.5
out of 10
Best for: risk analysts adding climate and sustainability risk skills
GARP's Sustainability and Climate Risk Certificate is a specialist add-on rather than a general risk credential, but it fills a gap the other options leave open. You earn it by passing one exam: 80 multiple-choice questions plus a multi-part case study question, with four hours allowed and pass or fail grading. GARP offers the exam in April and October. Topics include sustainability, climate risk, nature risk and transition planning. For the April 2027 window, early registration costs USD 525 for FRM, RAI and ERP holders, USD 550 for GARP Individual Members and USD 650 for non-members, rising to USD 625, USD 650 and USD 750 at standard registration. Registration includes six months of GARP Individual Membership for candidates who have not received it from another GARP program. Risk analysts at banks, insurers and asset managers who are asked to model climate exposure will get the most from it, and FRM holders get the lowest price. It does not replace a broad credential such as the FRM or RIMS-CRMP.
Standout feature
The only credential here dedicated to climate and sustainability risk.
Use cases
Credit and market risk analysts at banks
Add climate scenario and transition risk skills
Outcome: A focused certificate earned in one exam
FRM holders
Extend their credentials into sustainability risk
Outcome: A second GARP credential at the USD 525 holder rate
Key features
- One exam of 80 multiple-choice questions plus one multi-part case study question
- Four hours to complete the exam, graded pass or fail
- Exam offered in April and October
- Registration includes six months of GARP Individual Membership for new SCR candidates
- FRM, RAI and ERP holders get the lowest rate, USD 525 at early registration
Pros
- Single exam, so it is quicker to finish than the FRM or PRM
- Covers climate risk, nature risk and transition planning, which the other credentials do not
- Discounted rate for existing FRM holders
Cons
- A certificate on one risk area, not a full risk management credential
- Only two exam windows a year
- Non-member standard registration rises to USD 750
Rank 8
The Institutes Associate in Risk Management (ARM)
The Institutes' online designation of three risk management courses plus an ethics course.
theinstitutes.org7.4
out of 10
Best for: insurance professionals, agents and brokers moving into risk management
The Associate in Risk Management from The Institutes is a course-based designation rather than a single exam. It has three core courses, ARM 400 Mastering Risk Management Techniques, ARM 401 Managing Risk With Emerging Technology and ARM 402 Implementing Risk Management Strategies, plus Ethics 311 on ethical decision making in risk and insurance. The Institutes lists a 6 to 9 month completion time, fully online courses and virtual exams for every course. The ARM 400 exam, for example, has 50 questions in 65 minutes and can be taken in any of four quarterly testing windows. Courses include interactive modules, an AI study tool, a mobile app, practice questions and a simulated exam, and ARM 400 also counts toward the CPCU and other Institutes designations. A free 30 to 45 minute sample course lets you test the format. The program has been revised to cover emerging technology and organizational resilience. Course prices did not load from our location, so cost is marked as pending.
Standout feature
Three online courses and virtual exams, with a free sample course.
Use cases
Commercial insurance agents and brokers
Advise clients on risks beyond insurance
Outcome: A designation covering risk identification, assessment and treatment
CPCU candidates
Earn a risk designation along the way
Outcome: ARM courses that also count toward the CPCU
Key features
- Three core courses: ARM 400 Mastering Risk Management Techniques, ARM 401 Managing Risk With Emerging Technology and ARM 402 Implementing Risk Management Strategies
- Plus Ethics 311: Ethical Decision Making in Risk and Insurance
- 6 to 9 month completion time, with 100 percent online courses
- Virtual exams for every course: ARM 400 has 50 questions in 65 minutes
- Free 30 to 45 minute sample course
Pros
- Fully online, with virtual exams in four testing windows a year
- Free sample course lets you try it before paying
- ARM 400 also counts toward the CPCU and several other Institutes designations
Cons
- Course prices did not load from our location, so cost is unconfirmed
- Three course exams plus ethics, rather than one exam
- Insurance-oriented, so less known in bank risk departments
Rank 9
IRM International Certificate in Enterprise Risk Management
The Institute of Risk Management's Ofqual-regulated Level 5 qualification in enterprise risk management.
theirm.org7.2
out of 10
Best for: ERM practitioners in the UK, Europe and other international markets
The International Certificate in Enterprise Risk Management from the UK-based Institute of Risk Management is the most academic option on this list. It is an Ofqual-regulated Level 5 qualification studied mostly on your own through IRM's virtual learning environment, with optional virtual workshops. Module One covers the principles of risk and risk management and is assessed by a multiple-choice exam plus a 2,000-word essay, so you must show written analysis as well as recall. IRM puts completion at 6 to 9 months and about 180 to 200 study hours per module, with exam sessions twice a year and three consecutive attempts allowed. Fees follow World Bank income tiers: GBP 2,719 in high income countries, falling to GBP 1,631 in low income countries, and core textbooks cost extra. IRM does not publish a USD price, so we mark it as pending. It is the most expensive option here for U.S. candidates, but well known among ERM teams in the UK and Commonwealth markets.
Standout feature
An Ofqual Level 5 ERM qualification assessed partly by a 2,000-word essay.
Use cases
Risk officers in UK public sector bodies
Gain a regulated ERM qualification
Outcome: A Level 5 certificate with written assessment
ERM staff in middle income countries
Study at a reduced fee
Outcome: Pricing tiered by World Bank country classification
Key features
- Ofqual-regulated Level 5 qualification
- Module One covers principles of risk and risk management, assessed by a multiple-choice exam and a 2,000-word essay
- Self-study through IRM's virtual learning environment, with optional blended learning workshops
- 6 to 9 months to complete, about 180 to 200 hours per module
- Fees are tiered by World Bank country income classification
Pros
- Includes written assessment, not only multiple-choice questions
- Regulated qualification level, which helps in the UK
- Lower fee tiers for upper middle, lower middle and low income countries
Cons
- Priced in pounds: GBP 2,719 for high income countries, before textbooks
- Core textbooks are not included in the course fee
- Exams run in only two sessions a year
Frequently asked questions
+Which certification is best for risk management?
GARP's Financial Risk Manager (FRM) is the best certification for most risk analysts and managers. Its two exams of 100 and 80 questions cover market, credit, operational and liquidity risk, and Part I costs USD 600 at early registration plus a one-time USD 400 enrollment fee. Corporate risk managers outside finance often do better with the RIMS-CRMP.
+What is the best certification for risk management for beginners?
The RIMS-CRMP is the most approachable full risk credential, with one 120-question, two-hour exam and a USD 375 fee for RIMS members. You still need qualifying education and work experience to apply. The FRM is also open to newcomers, since its two years of experience can be gained after the exams.
+Is the FRM or PRM better?
The FRM is the more focused choice for financial risk, with two four-hour exams and an average of about 240 study hours reported by GARP. The PRM also has two exams but lets you take them in any order, and members pay USD 1,200 for both. The PRM requires a PRMIA Sustaining or RIM membership.
+What is the cheapest risk management certification?
The RIMS-CRMP has the lowest exam fee here at USD 375 for RIMS members, and USD 275 for student members. The CRMA exam costs USD 465 for IIA members plus a USD 100 application fee.
+Which risk management certification is best for IT and cybersecurity?
ISACA's CRISC is the best fit for IT and cyber risk. It covers four domains, from IT governance to technology and security, and costs US$575 for ISACA members. Certification requires three years of experience in at least two domains.
+How long does it take to get a risk management certification?
It ranges from one exam to about a year of study. The RIMS-CRMP is a single two-hour exam, the ARM takes 6 to 9 months of online courses, and the IRM certificate takes 6 to 9 months at about 180 to 200 hours per module. GARP reports FRM candidates study about 240 hours on average.
+Is the PMI-RMP worth it for project managers?
Yes, if you manage risk on projects. The PMI-RMP is the only credential here built around project risk, with a 115-question, 150-minute exam. With a bachelor's degree you need 24 months of project risk experience in the last five years and 30 hours of risk education.
About this list
Updated November 11, 2026 by the Mojolin research desk. Mojolin is self-funded
Questions or corrections: editorial@mojolin.com
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