This is just an informational update for those who may have been interested in the ERP exam. It was posted on the GARP website in their announcements. There is more information here: https://www.garp.org/#!/important-notices/erp.
UPDATE ON THE ERP – CHANGING WITH THE ENERGY MARKET
When GARP launched the Energy Risk Professional (ERP®) program in 2009, the energy industry was expanding and so was the need for individuals to understand the interrelationships among the subsectors of the global energy industry. Since that time, the energy marketplace has experienced material changes. Banks have essentially moved out of commodity trading due to increased capital requirements. And, the energy industry as a whole has experienced significant challenges.
After a recent four-month study to assess the demand for the ERP from future candidates, we have come to the realization that the energy industry has significantly changed and interest in the ERP from new candidates will steadily lessen. In response, we have made the difficult decision to discontinue offering the ERP Exam after 2021. Part II of the ERP will be given in May and November 2021 to give candidates who have passed Part I time to complete their studies. Part I will no longer be offered to new registrants.
This decision was difficult. However, we believe that the energy and risk management coverage offered through our Sustainability and Climate Risk (SCR™) certificate, the Financial Risk Manager (FRM®) certification, and the Financial Risk and Regulation™ program provide quality alternatives for interested professionals.
GARP will also continue to participate in the community of energy risk practitioners through research, events, content, and networking. Helping risk managers address energy topics will continue to be a focus for us.
Please know this decision was a hard one. The ERP has significantly contributed to advancing the quality of energy risk management around the world and provided candidates with in-depth knowledge of all major commodities in the energy industry.
UPDATE ON THE ERP – CHANGING WITH THE ENERGY MARKET
When GARP launched the Energy Risk Professional (ERP®) program in 2009, the energy industry was expanding and so was the need for individuals to understand the interrelationships among the subsectors of the global energy industry. Since that time, the energy marketplace has experienced material changes. Banks have essentially moved out of commodity trading due to increased capital requirements. And, the energy industry as a whole has experienced significant challenges.
After a recent four-month study to assess the demand for the ERP from future candidates, we have come to the realization that the energy industry has significantly changed and interest in the ERP from new candidates will steadily lessen. In response, we have made the difficult decision to discontinue offering the ERP Exam after 2021. Part II of the ERP will be given in May and November 2021 to give candidates who have passed Part I time to complete their studies. Part I will no longer be offered to new registrants.
This decision was difficult. However, we believe that the energy and risk management coverage offered through our Sustainability and Climate Risk (SCR™) certificate, the Financial Risk Manager (FRM®) certification, and the Financial Risk and Regulation™ program provide quality alternatives for interested professionals.
GARP will also continue to participate in the community of energy risk practitioners through research, events, content, and networking. Helping risk managers address energy topics will continue to be a focus for us.
Please know this decision was a hard one. The ERP has significantly contributed to advancing the quality of energy risk management around the world and provided candidates with in-depth knowledge of all major commodities in the energy industry.
