Section 4: Qualification for membership

A person shall be qualified to be enrolled as member and entitled to use the appellation as –(a) a member of the Institute if he satisfies the Council that he
(i) is a person of impeccable character with a minimum of five years cognate experience,
(ii) has been in private practice on his own or in partnership with others as risk managers for a minimum period of not less than five years, and
(iii) has fulfilled the requirements prescribed for induction;
(b) an Associate or Senior Associate member of the Institute if he satisfies the Council that he –
(i) has been duly registered as a bonafide member of the Institute,
(ii) has fulfilled the requirements for induction in accordance with the membership policy of the Institute, and
(iii) is a person of impeccable character with relevant cognate experience in relevant field of economics or related fields;
(c) a Chartered Risk Manager of the Institute if he satisfies the Council that he –
(i) has passed the Chartered Risk Managers' professional certification examination organised by the Institute,
(ii) is a person of impeccable character and integrity,
(iii) is a fit and proper person, and
(iv) has fulfilled the requirements prescribed for induction;
(d) Honourary Chartered Risk Manager of the Institute if he satisfies the Council that he –
(i) has a minimum of 10 years cognate experience in continuous practice in the field of risk management,
(ii) is committed to the promotion of risk management practice or profession in Nigeria,
(iii) is a person of impeccable character and integrity, and
(iv) has fulfilled the requirements for induction; and
(e) Fellow, Chartered Risk Manager if he
(i) is a certified Chartered Risk Manager,
(ii) has been an active member of the Institute for a minimum period of not less than 10 years and have acquired cognate experience and knowledge through practice and committed to the promotion of the risk management profession in Nigeria,
(iii) has combined skills, experience and knowledge in continuous practice, and commitment to the promotion of the risk management profession,
(iv) is a person of impeccable character and integrity, and
(v) has fulfilled the requirements prescribed for induction.