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PRMIA 8010 (Operational Risk Manager (ORM)) Certification Exam is a globally recognized certification program designed for individuals who want to specialize in operational risk management. The program is offered by the Professional Risk Managers' International Association (PRMIA), which is a non-profit organization that focuses on promoting the highest standards of risk management practices. The PRMIA 8010 exam covers a wide range of topics related to operational risk management, including risk assessment, risk monitoring, risk reporting, and risk mitigation strategies. 8010 exam is particularly suitable for professionals working in financial institutions, such as banks, insurance companies, and asset management firms.
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To be eligible for the PRMIA 8010 exam, candidates must have a bachelor's degree or equivalent and at least two years of relevant work experience in risk management, compliance, or audit. Candidates must also be familiar with basic statistics and probability concepts. 8010 exam fee is $650 for PRMIA members and $800 for non-members.
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PRMIA 8010 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Measurement and Quantification | - Key risk indicators (KRIs) - Loss distribution approaches |
| Topic 2: Risk Identification and Assessment | - Risk and control self-assessment (RCSA) - Scenario analysis and risk mapping |
| Topic 3: Operational Risk Fundamentals | - Definition and scope of operational risk - Risk taxonomy and loss event types - Operational risk within enterprise risk management |
| Topic 4: Risk Governance and Frameworks | - Risk governance structures and accountability - Three lines of defense model |
| Topic 5: Regulatory and Industry Standards | - Basel operational risk frameworks - Regulatory expectations for operational risk management |
| Topic 6: Mitigation and Control | - Risk transfer mechanisms including insurance - Internal controls and control testing |





