RIMS-CRMP Stories

Michelle Black became the ERM Director at Walmart in January 2024 and earned her RIMS-CRMP certification six months later. She explained why the RIMS-CRMP was ideal for expanding her risk knowledge and professional network.

RIMS: You are a Certified Public Accountant (CPA) as well as a RIMS-CRMP holder. What are some of the similarities and differences between the two certifications?

Black: Both the CPA and RIMS-CRMP certifications have provided me with foundational knowledge and technical abilities essential for effectively performing my job. They both enhance my professional credibility and require ongoing continuing education, which helps me stay updated on industry trends and best practices.

When transitioning into corporate risk roles, the RIMS-CRMP has provided a broader perspective on risk management. Preparing for the exam and maintaining the certification has allowed me to develop and implement comprehensive risk management strategies, enhancing my capabilities as a risk management leader. The CPA equipped me with detailed financial expertise, while the RIMS-CRMP provides a broader, strategic understanding of risk.

Together, they enabled me to approach risk management with a comprehensive view that considers both financial and operational risks. Both certifications have been instrumental in my professional development, helping me build a robust skill set that spans accounting, financial analysis, and strategic risk management.

RIMS: When did you realize the RIMS-CRMP would benefit your work and your career?

Black: After moving from an Internal Audit role to the ERM team, I spent several weeks researching different educational programs and credentials that could broaden my knowledge base and set me up for success in my new role in Enterprise Risk. After completing my research, I knew the RIMS-CRMP was the right choice for me.

The two primary factors behind my choice were:

1. The breadth of concepts and inclusion of multiple frameworks within the content of the exam, and
2. RIMS’ extensive network of risk professionals and ERM-specific groups, including the network of professionals with the RIMS-CRMP certification.

RIMS: How has your leadership role within ERM at Walmart and working in the industry help prepare you for the exam?

Black: My current role in Enterprise Risk, coupled with my background in other various risk and assurance positions, provided a solid foundation and a wealth of practical examples that I could draw upon when preparing for the exam. Being actively involved in the ERM program at Walmart enabled me to see the direct application of risk management principles and frameworks.

Additionally, my prior experience gave me a deeper understanding of core concepts, allowing me to relate theoretical knowledge to practical, real-world scenarios. This experience served as a valuable reference point throughout the exam preparation process.

RIMS: How does the knowledge from the RIMS-CRMP reflect on your daily responsibilities at Walmart?

Black: My confidence as a risk professional has increased, allowing me to form strong opinions and make informed recommendations on our team’s priorities. I regularly draw upon the concepts covered in the study materials to support and justify priority areas in our internal roadmap, ensuring our initiatives are grounded in established risk management principles.

Additionally, the knowledge from the RIMS-CRMP enables me to effectively coach and mentor others on the importance of a robust ERM function and the critical linkage between ERM and strategic objectives. I am also better able to communicate the value of ERM to stakeholders at all levels, further supporting a risk-aware culture.

RIMS: How did support from management enable you? What has their reaction been?

Black: My leadership has supported me through the process by covering the costs for my RIMS membership and attendance to the RISKWORLD and ERM conferences. They value the knowledge I have gained through the process and have confidence in my abilities to manage our enterprise risk management processes.

RIMS: How did you study for the exam?

Black: I signed up for a weekend test prep workshop in San Diego prior to RISKWORLD 2024. This course provided me most of what I needed to prep for the course by highlighting core concepts that would be covered on the exam and providing insights on tactics for answering multiple-choice questions. Following the course, I studied the materials provided, created flashcards, and took some practice questions.

RIMS: What tips do you have for anyone studying for the exam now?

Black: I highly recommend the RIMS-CRMP Exam Prep Workshop. The two-day session and associated materials provided me with everything I needed to prepare for and pass the exam. Outside of the workshop, I focused on key concepts and terminology by making flashcards and studying them daily leading up to my scheduled test time.

See the full RIMS-CRMP Exam Prep calendar.

Interview by Justin Smulison, RIMS Business Content Manager