ANZIIF Partnerships – Creating a globally recognised standard for risk professionals

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Danielle Di Sano reports on new partnerships between overseas risk associations and the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) that aim to promote risk management as a profession and create a globally recognised standard for risk management professionals.

In last few years, the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has been developing relationships with risk management associations covering other regions. In late 2016, a partnership was announced between ANZIIF and the Pan-Asia Risk and Insurance Management Association (PARIMA). More recently, a partnership has also been announced between ANZIFF and the Federation of European Risk Management Associations (FERMA).

These partnerships have resulted in the provision of a professional designation and ongoing professional education being offered to risk professionals across these regions. ANZIIF will provide PARIMA and FERMA with materials and content for the risk management certification and develop examinations, with PARIMA and FERMA being responsible for the approval of candidates wishing to undertake the certification, making this a global collaboration. Examinations are already in place for risk professionals in the Pan-Asia region. The first set of examinations for risk professionals in Europe commence in September 2017.

The driver behind establishing these partnerships has been to promote the recognition of risk management as a profession and creating a globally recognised standard for risk management professionals. ANZIFF’s CEO Prue Willsford recognises that “those who work as risk professionals are increasingly becoming more prolific in the value they contribute to companies; however, they can still be seen as being risk managers as opposed to working in a profession. By establishing mutually recognised standards and designations across regions it assists in validating their credentials and capabilities as professionals and in turn raising their profile.”

The ANZIIF / PARIMA partnership has been in place for almost a year now. Despite it still being in its infancy, some progress towards achieving ANZIIF’s goals for the profession are already visible.

 “It is already clear that there is a desire for risk practitioners in the region to have their experience and capabilities recognised, and to be promoted as working in a profession” says Prue Willsford.

“The study materials and assessment process has been well received and it is through this partnership that the opportunity came about to partner with FERMA to create an aligned standard between Asia and Europe, which is a significant step in creating a truly globally recognised standard for Risk Professionals.”

More information on ANZIIF membership and education is available from anziif.com

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About the author

Danielle Di Sano

Danielle Di Sano works at Suncorp Bank leading their Non Retail Credit Risk Modelling Team, which develops internal credit risk models for SME, Corporate, Bank and Sovereign exposures. She has over seven years of experience working in the financial services industry in credit risk, capital modelling, validation and risk management. Danielle is enthusiastic about developing best practice risk models and in particular identifying ways that modelling and analytics can be used to drive insights relating to risk, return, capital and strategy. Danielle studied Actuarial Studies and Law at Macquarie University, graduating with first class honours and has AIAA and CERA postgraduate qualifications.

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