Who we are

BRIEF ABOUT THE CHARTERED RISK MANAGEMENT INSTITUTE OF NIGERIA (CRMI)


The Chartered Risk Management Institute of Nigeria (CRMI) was established by Act No. 39 of 2022. It was formerly known as Risk Management Association of Nigeria (RIMAN) and was founded on 29th March 2000. The Institute is a professional body for risk management professionals, to promote best practices and advocacy in risk management and related disciplines in Nigeria.


CRMI provides distinct and value-added services by a pool of industry experts and seasoned professionals. The Institute offers professional certifications, education and training programs, research, and networking opportunities to individuals involved in risk management. CRMI works to enhance the understanding and practice of risk management across various industries and sectors.


CRMI, therefore, sets the national standard in Professional designation with the Chartered Risk Manager (CRM) certification through the ongoing Certification programme and also maintains Mandatory Continuing Professional Education (MCPE) for its members.

Currently, money deposit Banks, Merchant Banks, Development Banks and Non-Financial Institutions, are members. Individuals were admitted as members in 2006 and this membership category has grown considerably. CRMI collaborates with regulatory authorities in policy advancement to ensure best practices in the financial and non-financial industries. Over the years, CRMI has been involved in the continuous provision of capacity-building platforms for organizations. The track record of excellent workshops, seminars, conferences, training, etc. is well known.


Today, CRMI is a recognized professional Institute in Nigeria, with a growing membership that includes risk management professionals, academics, and students. The Institute continues to promote the practice of risk management in Nigeria and advocate for its inclusion in the strategic decision-making processes of the private and public sectors in the country.

His Highness, Muhammad Sanusi II, CON, The 14th Emir of Kano, is the Grand Patron.

Vision

To be the premier body in developing and sustaining best practice and high competencies in the management of risks in Nigeria.

Mission

To facilitate the creation and sustenance of credible risk management practices; through proactive advocacy, capacity building, knowledge sharing, promotion of high professional standards and corporate governance.

Objectives

  • To establish and maintain an Institute of risk managers engaged in the management of financial, non-financial and correlated risks
  • To provide a forum for members to meet regularly.
  • To Promote and protect the interest of members of the Institute in their conduct of business operations.
  • To formulate and maintain standards of conduct for members and to encourage professional risk management practices.
  • To present the views of members in any matter that may affect their business operations.
  • To provide facilities for the flow of information among members.
  • To increase awareness of members through seminars, lectures and other forms of information.
  • To confer, consult, maintain, contact with and cooperate with any persons, associations, societies, institutions and bodies of persons established in Nigeria or elsewhere having objectives in whole or part similar to those of the Institute in respect of matters within the objects of the Institute.
  • To collaborate as appropriate with government and other regulatory bodies in formulating policies pertaining to risk management practice.
  • To establish a general fund through subscription and any other fund raising activities for the maintenance and promotion of research into risk management practices and related matters and in financing any of the objects of the Institute.
  • To do all such other things as are incidental or conducive to the attainment of the above object.

Committees

  • Finance Committee
  • Education Committee
  • Membership Committee
  • Code Of Conduct And Ethics Committee
  • Project Committee
  • Joint Working Committee (CRMI And CIBN) ON Certified Risk Manager Examination
  • Technical Committee
  • Regional Committee

Core Activities

CRMI was established as a non - profit organization to advocate and promote sound and best practices in risk management and related disciplines.

Consulting: CRMI offers a wide variety of advisory/ consulting services to clients in the Financial and non - Financial Industry.

Our aim is to provide clients with distinct and tailor made value - added services by our pool of experts and seasoned professionals. Our objective is to ensure hindrances and challenges are tackled to enhance performance and achieve set targets.

Advocacy: CRMI is committed to advancement of sound practices through awareness campaigns and programmes that reflect and enhance risk management practices. Through carefully designed projects and programmes, CRMI reaches out to members, financial services community, partners, regulators and members of the public. Among others, CRMI's advocacy encompasses:

  1. Professional Conduct & Ethics
  2. Sustainability Banking
  3. Information Sharing & Exchange (Credit Bureau)
  4. Business Continuity Management
  5. Credit Information Exchange

Research: A key function and focus of the Institute is research and development. Periodically, the Institute conducts surveys on topical issues ( local and global) to understand perception of respondents.