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IRM is the leading professional body for Enterprise Risk Management (ERM). We drive
excellence in managing risk to ensure organisations are ready for the opportunities and
threats of the future. We do this by providing internationally recognised qualications
and training, publishing research and guidance, and setting professional standards.
For over 30 years our qualications have been the global choice of qualication for risk
professionals and their employers. We are a not-for-prot body, with members working
in all industries, in all risk disciplines and in all sectors around the world. In 2019, the IRM
welcomed the Institute of Operational Risk (IOR) into the IRM group.
Organisations that have previously beneted from our qualications include:
The IRM
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Contents
Introduction to IRM Qualifications 4
International Certificate in Enterprise Risk Management
Overview 6
Module 1 8
Module 2 10
Further information 12
What our students say 14
Risk Management Training 15
Contents
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Introduction to IRM Qualications
Introduction to IRM Qualifications
Why study with the IRM?
As the world’s leading professional body for ERM we have a global reputation for offering highly
practical, academically rigorous qualications to meet industry needs.
We are responsive to the latest challenges facing risk managers, including growing cyber threats
and international regulatory developments. This volatile environment has seen regulators, investors
and businesses make increasing demands on organisations to demonstrate they have top-class risk
management in place at an integrated, enterprise level. Our focus is therefore on the importance of
strategy, culture, behaviour and competence in relation to risk and on concepts like risk appetite, risk
maturity and decision making.
IRM’s qualications have been developed by internationally recognised academics and industry
practitioners. They will provide you with the broad knowledge and the practical skills you need to
manage risk.
Our International Certicates and Diploma give you the theory, tools and techniques to manage risk,
maximise opportunities and protect your organisation. You can learn from anywhere in the world via
supported distance learning, which includes directed self-study and online coaching.
Distance
learning
International
recognition
Relevant for
all sectors
IRMCert
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Introduction to IRM Qualifications
IRM Student Membership
Enrolling for a qualication means you join IRM and become part of our global community that
covers 143 countries. You can also access a valuable range of benets to support you through
your risk management studies and beyond. These include our online resources, access to thought
leadership, topical webinars and special interest groups in industries such as: Charities, cyber, health
and care, innovation, infrastructure and operational risk.
Learning journey
Benets to employers
An organisation that effectively and efciently manages its risks and opportunities is more likely to
achieve its business objectives at lower overall costs. Risk management is an inherent part of good
management. By supporting your employees through our qualications, you will benet from:
> Enhancing business performance and improving risk decision making.
> Associating your organisation with best risk management practice.
> Attracting and retaining high-calibre professionals by investing in personal development.
> Developing a motivated, skilled and knowledgeable team.
> Receiving discounts on membership, qualications, training and events.
Our students are based in
143 countries
We have taught over
10,000 students
Driving excellence for
over 30 years
International Certicate in
Enterprise Risk Management
(Modules 1-2)
International Diploma in
Enterprise Risk Management
(Modules 3-6)
International Certicate in
Financial Services Risk Management
(Modules 1-2)
Or
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Course overview
This qualication is a professional certicate set at degree level. It can be taken as a stand-alone
qualication or form the rst part of the International Diploma in ERM. Learning in the rst module
explores elements of the risk management process, while the second module looks at the practical
implementation of such processes, including how they may be affected by organisational culture and
appetite for risk.
Entry requirements
There are no formal entry requirements. However, students are expected to have some basic
knowledge of risk management tools and techniques.
Further details of this are on the IRM website at www.theirm.org/enterpriserisk.
Risk management is increasingly seen as a signicant issue for businesses in all sectors, from
tackling cyber risks, pandemics, climate change and fraud to co-ordinating complex supply chains
and operational risk. As awareness of risk management grows, employers, clients and regulators
increasingly value qualications such as the International Certicate in ERM.
Module 1:
Principles of Risk and Risk Management
Module 2:
Practice of Risk Management
Overview
International Certicate in Enterprise Risk Management
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Progression
Completion of this Certicate covers modules 1 and 2 of the International Diploma in ERM, leaving
modules 3-6 to complete to achieve the full Diploma qualication.
How long does it take to complete?
You can complete this Certicate within 6-9 months. You will enrol for modules 1 and 2 at the same
time and sit exams for both in the same exam period.
An indicative study time for the qualication is between 180 and 200 hours per module.
Membership designations
Successful candidates automatically join the IRM as Certicate Members and are entitled to use the
IRMCert designation while they remain members.
Pricing
To nd out about the pricing for the International Certicate in ERM, including member, non-member
and low GDP rates please visit: www.theirm.org/enterpriserisk.
Examination sessions
There are two examinations sessions each year for this Certicate. These are normally in June &
December.
Assessment
Module 1 and Module 2 are assessed by 90 minute Multiple Choice Question (MCQ) exams.
Overview
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This module introduces the history, principles and concepts of risk and risk management to help
students understand the current drivers of ERM and the development and impact of international
standards. This leads to an examination of the ways in which risks are classied and the models or
frameworks that are utilised to identify, assess and treat them.
Module 1: Principles of Risk and Risk Management
Main learning outcomes
By the end of this module you should be able to:
> Recognise the origins and key concepts relating to risk management.
> Compare and contrast the main risk management standards.
> Apply the concepts of ERM.
> Examine the main approaches to risk identication.
> Use the main approaches to the analysis and evaluation of risk.
> Distinguish the main features of risk control techniques.
Module 1
Unit 1: Concepts and denitions of risk
and risk management
Unit 2: Risk management standards
A general introduction to some basic risk
management concepts.
Contents
1.1 Approaches to dening risk
1.2 Impact of risk on organisations
1.3 Types of risk
1.4 Development of risk management
1.5 Principles and aims of risk management
Explores the main features of key risk
management standards, including the most
generally accepted ISO 31000 standard
(ISO, 2018), as well as some specialist risk
management standards.
Contents
2.1 General risk management standards and
risk management frameworks
2.2 Alternative risk management approaches
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Module 1
Unit 3: Enterprise Risk Management
Unit 5: Risk assessment 2
(analysis and evaluation)
Unit 4: Risk assessment 1
(introduction and identication)
Unit 6: Risk response and
risk treatment
An overview of ERM. Understand how it can be
implemented, in what context and the role of
objective setting.
Contents
3.1 Dening ERM
3.2 ERM overview
3.3 Implementing ERM
3.4 Establishing context for risk management
3.5 Objective setting
This unit focuses on two elements, risk analysis
and risk evaluation. Other professional
standards are also examined.
Contents
5.1 Introduction to risk analysis
5.2 Risk likelihood and impact
5.3 Risk evaluation and risk appetite
5.4 Loss control
5.5 Dening the upside of risk
Risk assessment is a key element of the
process of ERM. This module introduces this
wide-ranging subject following the ISO 31000
process.
Contents
4.1 Risk assessment considerations
4.2 Risk causes and consequences
4.3 Risk classication systems
A conclusion of the module, completing the
ERM process and considering risk treatment.
Contents
6.1 Introduction to the topics
6.2 The 4 Ts
6.3 Risk control techniques
6.4 Control of selected hazard risks
6.5 Introduction to monitoring and review
6.6 Insurance and risk transfer
6.7 Business continuity planning
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This module explores the impact of the business environment on organisational risk, examining issues
relevant to various sectors, geographical areas and stakeholders, including regulatory authorities.
It covers how corporate governance and risk assurance might inuence the architecture of risk
management programmes, and the signicance of risk culture, appetite and tolerance in relation to
current practices.
Module 2: Practice of Risk Management
Main learning outcomes
By the end of this module you should be able to:
> Discuss the impact of the wider business environment on organisations and the issues this
raises for risk management in specic sectors and geographical areas.
> Illustrate the key features of a risk management framework.
> Explain the signicance of issues of culture, appetite and tolerance, as well the key features of
corporate governance models, project risk and operational management systems.
> Discuss the nature and purpose of internal control, audit and risk assurance techniques.
> Analyse real life case studies and identify key risk management lessons.
Module 2
Unit 1: The global business
environment
Unit 2: Risk strategy and framework
The implications of the business and risk
environment on organisations and appropriate
responses.
Contents
1.1 The business and risk environment
1.2 Organisational vision and values
1.3 Risk management, business success and
value added
1.4 Sector-specic and geographical issues
The importance of a coherent risk framework,
strategy and protocol, and the appropriate role
of risk management documentation.
Contents
2.1 Risk architecture, strategy and protocols
2.2 Risk management documentation and
responsibilities
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Module 2
Unit 3: Risk culture, appetite
and tolerance
Unit 5: Risk assurance and reporting
Unit 4: Risk and organisations
Unit 6: Case studies in organisational
risk management
How an organisation’s approach to risk
management is signicant, how to create
effective risk proles to manage this and what
makes a great risk practitioner.
Contents
3.1 Organisational behaviour and culture
3.2 Risk appetite and tolerance
3.3 Risk training and communication
3.4 Risk practitioner competencies
Important features of an effective control
environment and how auditing and other
risk assurance techniques t within the risk
management framework.
Contents
5.1 The control environment
5.2 Internal audit function
5.3 Risk assurance techniques
5.4 Risk reporting
5.5 Corporate reputation
Key features of international corporate
governance, how to manage regulatory bodies
and various facets of risk management.
Contents
4.1 Introduction to corporate governance
4.2 Identifying stakeholders, including
regulatory bodies
4.3 Project, operational and supply chain risk
management
Case studies that give important insights into
how risk events occur, and the lessons that
can be learned from them. Also covers the
challenges of understanding emerging risks.
Contents
6.1 Case studies in organisational risk
management
6.2 Emerging risks and future developments
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Further information
Enrolling for the International Certi
cate in Enterprise Risk Management
IRM Members & Non-Members: Enrolling for the qualication can be done by completing the
application process on our website. Please visit www.theirm.org/enterpriserisk to enrol for the
qualication.
Study support
Studying for a professional qualication is a rewarding experience. However, we recognise it can be
a challenge when balancing distance-learning study, work and family commitments. To make your
studies as straightforward as possible, we provide a comprehensive support package.
The Study (online support area): The Study provides you with online access to the student
handbook, module study guides and specimen exam papers. The study guides lead you step by step
through the modules and provide self-assessment questions to help you master the subject matter.
Our discussion forums provide a valuable opportunity to network, share ideas and learn from other
students. Module coaches review the discussion forums and pose questions, challenges and facilitate
discussion amongst students. Where common questions or themes arise, they will attempt to answer
these. For each module there is an online tutorial led by the module coach.
“Risk in the real world” webinars are delivered on real-life case studies to help bring your studies to life,
and a revision webinar for each module will run in May for the June exams or October for the
December exams.
Examination policies
Students must attend a Pearson VUE exam centre in person to take exams. The examinations will be
MCQ and computer-based. Module content will be assessed by using the learning outcomes.
Further information
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Examination centres
The IRM has entered into an agreement with Pearson VUE, the global leader in Computer-Based
Testing (CBT), to move its global Certicate exams from paper-based to computer-based, and assessed
by MCQs. This also allows the examinations to be taken in over 180 countries with over 5000 exam
centres globally.
Students will be notied of how to book the test centre for the exam after they have enrolled on the
qualication and their payment has been successfully processed.
Special needs and access arrangements
Wherever possible, examination arrangements will take into account any special requirements you
have. If you complete an application for special arrangements, we must receive your completed form
no later than 28 February for the June examinations, and by 31 July for the November examinations.
This is to give us enough time to effectively help you with your requirements. While we aim to meet all
requests, we cannot full requirements where applications are received late.
Payment methods
Full details of payment methods can be found online. Payment can be made using:
> BACS / bank transfer
> Debit / credit card
> Cheque
Group enrolments: Discounts are available for groups of 10+ employees from the same organisation
within the same exam session.
Further information
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View more testimonials at:
www.theirm.org/whatourstudentssay
What our students say
Roberta Prentice, IRMCert
Senior Manager, Operational Risk, Conduct and Governance Team
Westpac Bank, New Zealand
“The IRM Certicate provided me with the essential toolkit I needed to consolidate
my career change to risk management. It provided a broader range of knowledge
than what I might have gained as a specialist, in a single risk class.”
What our students say
Carla Knight, IRMCert
Risk Management Specialist
Exxaro Solutions, South Africa
“IRM qualications are an excellent way to ensure that you stay relevant and on top
of the changing risk management eld. It has taught me so many things especially
in the areas where I do not see myself as an expert.”
Neil Porteous, IRMCert
Corporate Risk Ofcer
Gateshead Council
“My IRM qualications couldn’t be more relevant. To achieve the certicate, I had
to demonstrate my knowledge and understanding of the principles and concepts of
risk management but also demonstrate their practical applications.”
Byron Tidswell, IRMCert
General Manager Risk, Assurance and Audit
V/Line, Australia
“The International Certicate in ERM provided a really practical and useful
framework to think about operational and enterprise risk. It has been invaluable to
me in continuing to build performing risk management functions.”
Find out more at:
Risk Management Training
Industry-leading training courses delivered
by risk experts for over 30 years
www.theirm.org/training
> Risk Essentials Masterclass
> Senior Risk Masterclass
> Operational Risk Masterclass NEW
> Fundamentals of Risk Management (FoRM)
> Choosing and Using Key Risk Indicators
> Embedding Risk Management
> Managing Risk in a Digital World
> Project Risk Management
> Optimising Risk Workshops
> Organisational Resilience
> Risk Champions
> Risk Culture
> Risk Management for Infrastructure
> Risk Management for Oil & Gas
Training courses include:
Benets of IRM training:
CPD &
accreditation
Industry expert
trainers
Practical & interactive
training
CPD
Institute of Risk Management
2nd Floor, Sackville House
143–149 Fenchurch Street
London
EC3M 6BN
www.theirm.org/qualifications
Tel: +44 (0) 20 7709 4125
Email: [email protected]
Developing risk professionals
Information correct as of March 2020
