• Fellow in Risk Management (FRM) is a professional title awarded to individuals who have completed a 10-course program that includes the Associate in Risk Management (ARM) or Canadian Risk Management (CRM) three-course program, as well as several other electives and required courses. and final exam. FRM develops the fundamentals of law, accounting, finance, information systems and risk management specialties. The program is administered by the Society for Risk and Insurance Management, Inc. (RIMS).