Certified Risk Professional® (CRP)

Code of Ethics

Common Body of Knowledge (CBOK)

The Certified Risk Professional® (CRP) Common Body of Knowledge (CBOK) was prepared with direction and assistance of the Executive Advisory Committee for the CRP.

The purpose of CBOK is to identify those areas relevant and important to the discipline of risk management in the financial services environment. Risk management is receiving increasing emphasis across a broad spectrum of financial services initiatives from the domestic regulatory bodies (FED, OCC, FDIC, SEC, etc.), Bank of International Settlements (BIS) BASEL Accords on capital, Boards of Directors, Board Risk Committees, and Senior Management. Never before has the financial services industry recognized that measuring and, most importantly, managing risk is what financial services companies perform to reward their shareholders. Some do much better than others. The need to better identify, measure and manage risk is critical. Risk management has been and will be evolving over time. New ideas, better methodologies, improved technology and new financial instruments mean that managing risk is an ongoing evolving profession. Thus, the CRP Common Body of Knowledge will be continually changing as the science of risk management is developed.

An example of how industry dynamics have impacted the organization's assessment of financial risk - and the need for continuous review and update of the CBOK - was the introduction of derivative instruments to help financial services companies manage risk. A more recent example are the new BIS BASEL Accords concerning operating risk. So, as the knowledge requirements of risk managers change, expand, and new techniques to manage risk are introduced, the CBOK will be modified to reflect the evolving discipline of risk management.

CBOK Applications

The Common Body of Knowledge will be used for the development and maintenance of the CRP Core and Specialty examinations. It will also be used to help develop training and educational material by BAI Center for Certification.

Click here to download the condensed CBOK.
Click here to download the detailed CBOK.

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