Certified Risk Professional® (CRP) - BAI

Certified Risk Professional? (CRP)

Continuing Education and Renewal Fee

In order to ensure the quality and standards of the Certified Risk Professional, there is a requirement of 40 CPE hours that must be taken over a one-year period, which starts the January after the candidate is notified of becoming a CRP. Content of the CPE courses must be applicable to risk management and/or the specialties. A current annual renewal fee of $185 for BAI Enterprise Members and $210 for the standard rate will be assessed after receiving your first year free. Renewal notices will be mailed end of January and payment is due within 30 days.

Continuing Professional Education (CPE) Program Guidelines

Program Purpose

The purpose of BAI Center for Certification - Certified Risk Professional? (CRP) Continuing Professional Education (CPE) Program is to promote professional development and to provide a means for recognizing CRPs to keep current with industry changes or furthering their own development in risk management for the financial services industry. This program is designed to ensure that the skills, knowledge and expertise originally required to become a CRP, are maintained on a continuing basis.

Administration

BAI Center for Certification developed the CRP Examination and is the sole sponsor of the CRP Continuing Professional Education Program which maintains and processes CPE records and collects all annual certification renewal fees. BAI Center for Certification also establishes monitors and approves CPE hours.

Program Requirements

Active Status CRPs must meet the following three (3) program requirements to remain on active status. If these requirements are not met, you will be moved to inactive status.

1. Maintain Continuing Professional Education: CRPs must acquire and report a minimum of 40 contact hours of qualifying CPE activity within a one-year re-certification period which starts the January after successfully completing the CRP examination.

2. Comply with the CRP Code of Ethics. Download the CRP Code of Ethics.pdf.

3. Pay the annual CRP certification renewal fee, which will be due in March after completing the CRP exam, and every January 31st thereafter. Please call BAI at 800-224-9889 if you do not receive an invoice. You are responsible for address updates and payment of dues regardless of receiving an invoice.

Inactive Status CRPs are automatically placed on inactive status when they fail to meet the established annual CPE requirements. CRPs also become inactive if they fail to pay the required annual renewal fee.

CRPs in the inactive status may not use the CRP designation.

Insufficient CPE Hours: If you do not have the required CPE hours, you are recorded as inactive and you may not use your CRP designation. You must then submit the annual reactivation fee once you have obtained 20 CPE hours for the previous 12 months, which you should then submit with your payment.

To Reactivate: A reactivation fee plus the Active fee ($50 + $185 for BAI members and $50 + $210 for non-members) will be assessed at the time of the request. At the time of reactivation, CRPs must report the required CPE hours for the prior year.

Qualifying Activities

Activities and training designed with risk management content will satisfy CPE program requirements. These activities must demonstrate a progressive course of action that continues to build on professional competence within the risk management profession.

CRPs are encouraged to participate in continuing professional education that address a diverse array of subject areas either within their CRP designated specialty (ies) achieved, or of other CRP specialties not yet achieved. For example, if a CRP has a specialty in audit, but takes a course that covers risk management in regulatory compliance, the course will provide CPE credit for re-certification.

CPE credits pertain to the Certification and not to the specialty. Therefore, a CRP must obtain the annual 40 CPE minimum in oneyear, within risk management. A CRP is not required to obtain separate CPE requirement, for each specialty.

BAI Center for Certification requires that CRPs report their continuing education activities, but proof of completion is not required to be submitted with the form. BAI Center for Certifications does retain the right to audit an individual's continuing education report and will conduct random audits each year.

Activities that qualify for continuing education credit include but are not limited to:

Conferences Seminars/workshops/webcasts Professional designation exam review courses School course work Self-study programs Online training In-house training courses Professional and trade association meetings

The following restrictions apply:

1. SELF-STUDY PROGRAMS: A maximum of 10 contact hours per year will be accepted for self-study programs that contribute to a CRPs professional competence. Contact hours for self-study courses should be based on the average completion time determined by the sponsor. It is recommended that the CRP keep the completion certificate or final exam grade on file.

2. ONLINE TRAINING (not including Webcasts): A maximum of 10 contact hours per year will be accepted for e-learning courses which contribute to a CRPs professional competence. Contact hours for online training should be based on the average completion time determined by the sponsor. It is recommended that the CRP keep the completion certificate or final exam grade on file.

3. IN-HOUSE TRAINING COURSES: A maximum of 10 contact hours per year will be accepted for formal in-house training programs that contribute to a CRPs professional competence. In-house courses that focus on specific policies, procedures and/or systems of a specific institution/company will not qualify unless specific and identifiable risk management content is covered. The following documentation must be kept by the CRP as evidence of proper completion of in-house training: program name, topic outline, sponsor, contact hours, program agenda and speaker's biography.

4. COLLEGE OR UNIVERSITY COURSES: Relevant to risk management will be accepted and awarded CPE contact hours as follows: 1 semester hour = 15 CPE contact hours; 1 quarter hour = 10 CPE contact hours. The CRP needs to keep a current transcript on file.

5. PASSING OTHER RELATED PROFESSIONAL DESIGNATION EXAMS: 5 CPE contact hours are awarded for each exam that a CRP actually sits for and successfully passes on a professional designation exam related to risk management (for example Certified Public Accountant, CPA or Certified Information Systems Auditor, CISA). This includes successful completion of any CRP Specialty written exam completed after the initial Certified Risk Professional designation is awarded. A copy of the designation's certificate and/or a sponsor letter acknowledging successful completion of all exam parts must be kept by the CRP as evidence of proper completion of CPE hours. Questions as to whether another professional designation exam would qualify should be directed to BAI Center for Certification, CRP Certification Manager.

6. TESTS IN PROFESSIONAL PUBLICATIONS: A maximum of 5 CPE credits can be earned annually by successfully completing tests based on articles on risk management in related professional publications. Documentation must be maintained evidencing successful completion.

Teaching/Lecturing

Teaching/lecturing/presentations given at qualified programs or meetings as listed previously, may be awarded CPE credit. CPE credit will be awarded for twice the contact hours of actual participation for initial courses or presentations only. Documentation must be submitted in order to receive credit. One hour of CPE credit can be earned for each hour of proctoring the CRP exam.

If you proctor two (2) calendar exams, you may be eligible for 15 CPE.

Authorship/Research

Books, monographs, articles and research studies that are published may be awarded CPE credit. Credit, up to a maximum of 20 contact hours per year will be awarded to the authorship. Details to be kept by the CRP include the date or edition of the publication, the periodical in which it appeared or the publishing house, and the title of the book, article or research paper. In addition, a copy of the work must be submitted for evaluation in order to award the appropriate number of credits.

Professional Participation

Participation as chapter officer or director or as a member of an advisory group can earn CPE credit. Participation must be with a professional or industry-related organization. A maximum of 20 contact hours can be earned annually in this manner. Documentation must be submitted to BAI Center for Certification for evaluation.

Contact Hours Calculation

Contact hours are the actual hours spent in connection with an activity. One contact hour represents one hour of active involvement in an educational activity. Time spent in breaks or at lunch does not qualify as contact hours unless further educational activity is provided (e.g., luncheon speaker). One contact hour is equivalent to one CPE credit hour, unless otherwise stated by a continuing education sponsor.

Reporting

In all cases, BAI Center for Certification will not collect or maintain specific documentation on CPE courses or activities to evidence completion of an individual's CPE requirements. This means the CRP must maintain his or her own documentation for each CPE activity.

Each CRP is responsible for reporting the number and type of activities (e.g. programs/meetings, teaching/lecturing, etc.) of CPE hours earned for the annual certification renewal period ending December 31. The CPE hours obtained should be reported to BAI Center for Certification on or before January 31, of the following year.

Correspondence of any related issues should be sent to:

BAI Center for Certification ATTN: Certified Risk Professional Program 115 S. LaSalle Street, Suite 3300 Chicago, IL 60603-3801

Address Updates

Please contact BAI Center for Certification Customer Service at 800-224-9889 (312-683-2464) or BAICenter@ to update your address or telephone numbers.

Responsibility for Recordkeeping

Every CRP is responsible for honestly and accurately reporting the number of CPE credits obtained each year to BAI Center for Certification. The CRP must also be able to present upon request written verification of completion of educational activities to BAI Center for Certification. At a minimum, records should include:

Name and date of activity Sponsoring organization Record of registration

Topic outline Speaker qualifications Number of CPE hours reported

This information should be maintained for a minimum of two years.

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