Risk Management Association of India (RMAI)

What Risk Management Association of India (RMAI) does

Risk Management Association of India (RMAI) is a non-profit professional association founded in 1992 and headquartered in Kolkata, India, that serves as India's dedicated body for risk management education, practitioner certification, and community building. RMAI operates three revenue streams: (1) annual individual and organizational membership subscriptions that grant access to a curated knowledge portal, member-only publications, regulatory updates, and priority access to events; (2) a catalogue of 50+ self-paced online courses covering foundational risk concepts through advanced frameworks (ERM, ISO 31000, operational risk, GRC, organizational resilience, fraud risk, parametric insurance, AI in banking/insurance, and AI model risk management), delivered through a technology partnership with Smart Online Course; and (3) customized corporate training programs sold directly to organizations via email enquiry, delivered by experienced risk practitioners in person, virtually, or in blended formats. The association does not own its e-learning technology stack but rather partners with Smart Online Course for course delivery, assessments, and certification infrastructure. RMAI's customer base spans banking and financial services, insurance, infrastructure and manufacturing, healthcare, NBFCs, students/academics, and independent risk consultants, with the association claiming to have impacted 7,000+ professionals across 7+ countries. Marketing relies on content (website articles, risk intelligence reports, newsletter, case studies), YouTube, LinkedIn, Twitter, webinars, and events. Recent product expansion has emphasized AI-themed education aligned to upcoming RBI model risk guidance (June 2026) and the FREE-AI Framework (August 2025), including a dedicated AI Model Risk Management certification for banks, financial institutions, and NBFCs.

Name

Risk Management Association of India (RMAI)

Legal name

Risk Management Association of India

Website

https://rmaindia.org

Company type

Private

Founded year

1992

Operating status

Operating

Short description

RMAI is a 1992-founded non-profit professional association in Kolkata that provides risk management membership, 50+ self-paced online courses (delivered via Smart Online Course partnership), and customized corporate training, serving risk practitioners across banking, insurance, infrastructure, healthcare, and consulting in 7+ countries.

Ownership category

akta.pro rank

Headquarters

HQ city

Kolkata

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Membership Subscriptions: RMAI offers membership plans (individual and organizational) providing access to curated knowledge publications, member resources, priority access to events, and professional recognition. Membership categories are available on the membership page.
2. Online Courses: 50+ self-paced online courses covering risk management topics including ERM, ISO 31000, Operational Risk, GRC, Organizational Resilience, and specialized domains. Courses are delivered through the Smart Online Course platform with certification upon completion.
3. Corporate Training: Customized risk management training programs designed for organizational clients. Programs are tailored to specific risk contexts, sectors, and strategic objectives. Training is facilitated by experienced risk practitioners and can be delivered in-person, virtually, or in blended format.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels8 records

Core offering

RMAI is a professional body that delivers risk management education and certification through individual and organizational memberships, a catalog of 50+ self-paced online courses (delivered via the Smart Online Course platform), and customized corporate training programs for organizations. It also publishes risk intelligence reports, newsletters, and maintains a member resources portal offering templates, guidance, and industry updates.

Product overview

RMAI is India's premier professional body dedicated to risk management education, research, and community building since 1992. The organization operates as a platform-plus-modules architecture, offering a portfolio of interconnected products: (1) Online Risk Management Courses (50+ self-paced courses via Smart Online Course partnership) covering ERM, ISO 31000, operational risk, GRC, resilience, and emerging risks; (2) Corporate Risk Training with customized programs for organizations; (3) Professional Membership providing access to knowledge resources, publications, networking, and events; (4) Specialized certifications such as CRMPII for insurance professionals and AI Model Risk Management certification; and (5) Knowledge resources including risk intelligence reports and newsletters. The organization also provides free assessment tools for risk capability evaluation.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 7000+ professionals impacted through membership, courses, and training programs
• +2 more outcomes

Named customers3 records

Segments7 records

Ideal customer profiles4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Smart Online CoursecoreChannel Partner/ Reseller/ DistributorRMAI partners with Smart Online Course (smartonlinecourse.co.in) for delivering 50+ online risk management courses. The partnership provides the technology platform for course delivery, assessments, and certification. Smart Online Course handles the e-learning infrastructure while RMAI provides content expertise and certification. Multiple courses are co-branded and marketed through both platforms.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Regional players

• Confederation of Indian Industry (CII): Indian industry association offering executive education, conferences, and policy forums across sectors including risk management. Comparable in membership/community model but with a broader business mandate rather than risk-management specialization.
• Federation of European Risk Management Associations (FERMA): Pan-European federation of national risk management associations offering certification, training, and policy advocacy. Comparable membership-and-education model but regionally focused on Europe; provides a benchmark for RMAI's potential federation trajectory within South Asia.

Broad incumbents

• Skillsoft: Enterprise corporate training and certification provider covering risk, compliance, and GRC topics for Fortune 500 buyers. Competes with RMAI in the B2B customized corporate training segment with broader content catalog and established enterprise sales infrastructure.
• Coursera: Global online learning platform offering risk management courses (often in partnership with universities like NYU, Wharton). Competes with RMAI for self-paced risk management learners at typically lower price points, pressuring RMAI's course pricing and reach.
• ISACA: Global professional association for IT governance, risk, and cybersecurity — overlapping with RMAI on GRC, cyber risk, and AI governance content. Much larger global footprint with established certifications (CISA, CISM, CRISC) that compete for the same enterprise training budgets.
• edX: Online education platform hosting risk management, GRC, and compliance courses from global universities. Competes with RMAI's self-paced course offering on breadth, brand, and price, though typically with less India-specific regulatory depth.

Direct peers

• Global Association of Risk Professionals (GARP): Global non-profit offering risk management education, certifications (FRM, ERP), and membership for finance and risk professionals. Directly comparable to RMAI in model (membership + credentialed courses) and audience (banking/insurance risk professionals), but with significantly larger international scale.
• Institute of Risk Management (IRM): UK-headquartered global body for risk management with international certifications (Cert., Diploma, Fellow) and a member network across financial services, energy, and infrastructure. Direct functional peer on credentialing, training, and member services.
• Professional Risk Managers' International Association (PRMIA): International association offering the PRM (Professional Risk Manager) credential and risk management training to practitioners across banking, insurance, and asset management. Closely comparable mission and product structure to RMAI's certification and course offerings.
• National Institute of Securities Markets (NISM): Indian institution of national importance offering certification programs for financial sector professionals. Directly comparable to RMAI on India-focused regulatory-aligned training and certification for banking, NBFC, and securities professionals.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/rmai_india
• YouTubeyoutube.com/channel/UCQ_AUSFSH873ZhqpxoCB4nQ
• LinkedInlinkedin.com/company/8668098

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Risk Management Association of India (RMAI)