A professional designation awarded by the Risk Management Association (RMA) to individuals who have worked in commercial credit and lending or loan review for at least five years, and who pass the five-hour, 126-question CRC exam and become active RMA members.
Successful applicants earn the right to use the CRC designation with their names, which can improve job opportunities, professional reputation and pay. Every three years, CRC professionals must complete 45 hours of continuing education to continue using the designation.
The study program to earn the CRC covers seven skill sets: evaluating a client's industry, market and competitors; assessing management's ability to formulate and execute business and financial strategies; completing accurate, ongoing financial assessments of the client and its credit sponsors; assessing strength and quality of client or sponsor cash flow; evaluating and periodically inspecting collateral; identifying repayment sources and structuring and documenting credit exposure; and detecting and working out problem loans.