Certified Member of the Risk Committee of the Board of Directors (CMRBD), distance learning and online certification program


The program provides with the skills needed to understand and support regulatory compliance and enterprise wide risk management as a member of the Risk Committee of the Board of Directors. The program also provides with the skills needed to pass the Certified Member of the Risk Committee of the Board of Directors (CMRBD) exam.

Target Audience

The CMRBD certification program is beneficial to potential, new and sitting members of the Risk Committee of the Board of Directors.

Course Synopsis

The Risk Committee of the Board of Directors.
From the OECD Principles of Corporate Governance.
From the FSB Thematic Review on Corporate Governance, Peer Review Report.
Case studies, where we can clearly understand the role of the risk committee.
Designing and implementing a risk and compliance program.
Principles of effective compliance programs.

COSO, COSO ERM - The frameworks.
The Internal Control - Integrated Framework.
Understanding the five interrelated components, necessary for effective internal controls.
1. The control environment.
2. Risk assessment.
3. Control activities.
4. Information and communication.
5. Monitoring.
Internal Control - Integrated Framework 2013.
Using the Internal Control - Integrated Framework.
Example: Cyber risk and COSO.

The COSO ERM Framework.
COSO and COSO ERM cubes.
The eight interrelated components.
1. Internal Environment.
2. Objective Setting.
3. Event Identification.
4. Risk Assessment.
5. Risk Response.
6. Control Activities.
7. Information and Communication.
8. Monitoring.
Achievement of Objectives.
1. Strategic - high-level goals, aligned with and supporting its mission.
2. Operations - effective and efficient use of its resources.
3. Reporting - reliability of reporting.
4. Compliance - compliance with applicable laws and regulations.
2017 - The updated COSO ERM.
The changing risk landscape.
Benefits of effective Enterprise Risk Management.
The role of risk in strategy selection.

The SEC and the Sarbanes-Oxley Act.
The PCAOB rulemaking process.
Public Company Accounting Oversight Board, Auditing Standards.

Stress Testing.
What is financial stress testing.
Scenario tests.
A. The portfolio-driven approach.
B. The event-driven approach.
Sensitivity tests.
Choosing stress-test scenarios.
Berkowitz and stress testing.
Regulatory stress tests.
Micro stress tests.
Macro stress tests.
Stress testing scenarios based on a higher correlation environment.
Correlation coefficient.
Endogenous and Exogenous risks.
Heisenberg's uncertainty principle and stress testing.
The birth of stress testing.
Financial Sector Assessment Programs (FSAPs).
From the Value at Risk to Stress Testing.
What is expected under normal market conditions.
Expected and Unexpected Losses.
Use of stress testing and integration in risk governance.

Basel Committee, stress testing principles, December 2017.
1. Stress testing frameworks should have clearly articulated and formally adopted objectives.
2. Stress testing frameworks should include an effective governance structure.
3. Stress testing should be used as a risk management tool and to inform business decisions.
4. Stress testing frameworks should capture material and relevant risks and apply stresses that are sufficiently severe.
5. Resources and organisational structures should be adequate to meet the objectives of the stress testing framework.
6. Stress tests should be supported by accurate and sufficiently granular data and by robust IT systems.
7. Models and methodologies to assess the impacts of scenarios and sensitivities should be fit for purpose.
8. Stress testing models, results and frameworks should be subject to challenge and regular review.
9. Stress testing practices and findings should be communicated within and across jurisdictions. Comparison of current principles and proposed new principles.

Introduction to Cyber Risk.
Defining cybersecurity.
Information Operations (IO).
Cyber Espionage.
Cyber risks today, and what is different for organizations and employees.
The attribution problem.
The second attribution problem.
Misinformation, disinformation, deception management, fabrication.
Disinformation management.
Active Defence and Offensive Countermeasures.
The future.

Become a Certified Member of the Risk Committee of the Board of Directors (CMRBD)

For secure payment we work with PayPal, the faster and safer way to make online payments. With PayPal we minimize the cost of administration and compliance with national and international laws, so we can keep the cost of our programs and services so low.

Only PayPal receives your credit card number and your financial information. We receive your full name, your email, and your mail address. According to the PayPal rules, you have the option to ask for a full refund up to 60 days after the payment. If you do not want one of our programs or services for any reason, all you must do is to send us an email and we will refund the payment, no questions asked.

When you click "Buy Now" below, you will be redirected to the PayPal web site. Your payment will be received by our strategic partner and service provider, Cyber Risk GmbH (Rebackerstrasse 7, 8810 Horgen, Switzerland, Handelsregister des Kantons Zürich, Firmennummer: CHE-244.099.341). Cyber Risk GmbH may also send certificates to all members.

We will send the program up to 24 hours after the payment.

The all-inclusive cost is $297. There is no additional cost, now or in the future, for this program.

What is included in the program:

A. The official presentations (1,217 slides)

The presentations are effective and appropriate to study online or offline. Busy professionals have full control over their own learning and are able to study at their own speed. They are able to move faster through areas of the course they feel comfortable with, but slower through those that they need a little more time on.

B. Up to 3 online exam attempts per year

Candidates must pass only one exam to become CMRBDs. If they fail, they must study the official presentations and retake the exam. Candidates are entitled to 3 exam attempts every year.

If candidates do not achieve a passing score on the exam the first time, they can retake the exam a second time.

If they do not achieve a passing score the second time, they can retake the exam a third time.

If candidates do not achieve a passing score the third time, they must wait at least one year before retaking the exam. There is no additional cost for any additional exam attempts.

To learn more, you may visit:



C. The certificate

Processing and posting via registered mail with tracking number.

Frequently Asked Questions

1. I want to learn more about the International Association of Potential, New and Sitting Members of the Board of Directors (IAMBD).

The IAMBD is wholly owned by Compliance LLC, a company incorporated in Wilmington NC and offices in Washington DC, a provider of risk and compliance training in 36 countries.

Several business units of Compliance LLC are very successful associations that offer standard, premium, and lifetime membership, weekly or monthly updates, training, certification, Authorized Certified Trainer (ACT) programs, advocacy, and other services to their members.

2. Does the association offer training?

The IAMBD offers distance learning and online certification programs in all countries, and in-house instructor-led training in companies and organizations in many countries.

A. Distance learning and online certification programs.

A1. Certified Member of the Board of Directors (CMBD), distance learning and online certification program. To learn more, you may visit: https://www.iambd.org/Distance_Learning_and_Certification.htm

A2. Certified Member of the Risk Committee of the Board of Directors (CMRBD), distance learning and online certification program. To learn more, you may visit: https://www.iambd.org/Distance_Learning_for_the_Risk_Committee_of_the_Board.htm

A3. Certified Member of the Corporate Sustainability Committee of the Board of Directors (CMCSCBD), distance learning and online certification program. To learn more, you may visit: https://www.iambd.org/Distance_Learning_for_the_Sustainability_Committee_of_the_Board.htm

B. Instructor-led training.

For instructor-led training, you may contact Lyn Spooner.

3. Is there any discount available for the distance learning programs?

Unfortunately, we do not offer any discount. We want to keep the cost of the programs so low for all members.

4. Why do you accept payments via PayPal only, for the distance learning programs?

There are important threats to data security in today's IT landscape. On top of that, new data protection regulations around the world put tough requirements on organisations that store “personally identifiable data”, including credit card information. These two factors could increase the cost of our programs dramatically.

We accept payments via PayPal for the distance learning programs, to minimize the cost of compliance and administration. PayPal keeps and protects your financial information, not us, so we can keep the cost of the program so low.

With PayPal you have some additional benefits. You can keep the program for 59 days to evaluate it, and if you do not like it, you can simply send us an email and ask for a full refund, no questions asked. We will refund your payment in less than 24 hours. PayPal offers this escrow service (an escrow generally refers to money held by a third-party, PayPal, on behalf of the transacting parties). In this way, there is absolutely no risk for you.

If you do not have a PayPal account and you do not want to create one, somebody else with a PayPal account can also pay for you. After the payment, just let us know, and we will update the record.

5. Are your training and certification programs vendor neutral?

Yes. We do not promote any products or services, and we are 100% independent.

6. I want to learn more about the exam.

You can take the exam online in the comfort of your home or office, in all countries. You will be given 90 minutes to complete a 35-question multiple-choice exam. You must score 70% or higher.

We do not send sample questions. If you study the presentations, you can score 100%.

When you are ready to take the exam, you must follow the steps: https://www.iambd.org/IAMBD_Certification_Steps_1.pdf

7. How comprehensive are the presentations? Are they just bullet points?

The presentations are not bullet points. They are effective and appropriate to study online or offline.

8. Do I need to buy books to pass the exam?

No. If you study the presentations, you can pass the exam. All the exam questions are clearly answered in the presentations. If you fail the first time, you must study more. Print the presentations and use Post-it to attach notes, to know where to find the answer of a question.

9. Is it an open book exam? Why?

Yes, it is an open book exam. Risk and compliance management is something you must understand and learn, not memorize. You must acquire knowledge and skills, not commit something to memory.

10. Do I have to sit for the exam soon after receiving the presentations?

No. You can sit for the exam from your office or home, any time in the future. Your account never expires and there is no restriction of any kind.

11. Do I have to spend more money in the future to remain certified?

No. Your certificates never expire. They will be valid, without the need to spend money or to sit for another exam in the future.

12. Ok, the certificates never expire, but things change.

Recertification would be a great recurring revenue stream for the association, but it would also be a recurring expense for our members. We resisted the temptation to "introduce multiple recurring revenue streams to keep business flowing", as we were consulted. No recertification is needed for our programs.

Things change, and this is the reason you need to become (at no cost) a member of the association. Every month you can visit the "Reading Room" of the association and read our newsletter with updates, alerts and opportunities, to stay current.

13. Why should I get certified?

Answer: After the failures of so many organizations during the recent crisis, firms and organizations hire "fit and proper" board members who can provide evidence that they are qualified.

14. Why should I choose your certification programs?

Answer: We strongly believe that we offer very good value for money:

a. The CMBD, the CMRBD and the CMCSCBD programs are unique in the market.

b. The all-inclusive cost of each program ($297) is very low. There is no additional cost for each program, now or in the future, for any reason.

c. There are 3 exam attempts per year that are included in the cost of each program, so you do not have to spend money again if you fail.

d. No recertification is required. Your certificates never expire.