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The 8010
Operational Risk Manager (ORM) test is designed to test the knowledge of professionals in the field of operational risk management. This test covers the skills and knowledge needed to identify, assess, monitor, and mitigate operational risks in a financial institution. The certification is recognized globally, and it is an excellent way to demonstrate your expertise in operational risk management.
The 8010 ORM test format consists of multiple-choice questions and is timed for four hours. Candidates need to score at least 70% to pass the exam. The test fee is $550, and it can be taken at a testing center or online.
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The test covers a range of topics, including the basics of operational risk management, such as identifying and assessing operational risks, measuring and monitoring risks, and controlling and mitigating risks. The test also covers the principles and frameworks used in operational risk management, such as the COSO framework, the Basel II framework, and the Basel III framework.
In addition, the test covers the various types of operational risks, such as legal and regulatory risks, reputation risks, and strategic risks. Candidates should understand how to identify and manage these risks in a financial institution.
Furthermore, the test covers the tools and techniques used in operational risk management, such as risk mapping, key risk indicators (KRIs), scenario analysis, and stress testing. Candidates should understand how to use these tools to identify, assess, monitor, and mitigate operational risks in a financial institution.
Additionally, the test covers the roles and responsibilities of the operational risk manager and the importance of communication and collaboration with other departments in the financial institution, such as the compliance department and the audit department.
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8010
Operational Risk Manager (ORM) test is a comprehensive test that covers a range of subjects related to operational risk management in a financial institution. Candidates should understand the basics of operational risk management, the principles and frameworks used in operational risk management, the various types of operational risks, the tools and techniques used in operational risk management, and the roles and responsibilities of the operational risk manager. Achieving the 8010 certification can help professionals stand out in the job market and advance their career in operational risk management.