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Level 1 – Enterprise Risk Management

Learn to manage risks across the enterprise which is now an inherent part of delivering organisational success. The more deeply a risk-intelligent professional succeeds in influencing the organisation's entire culture, the greater their ability to influence how risks are identified and acted upon with the right mitigation strategies. Using the principles of enterprise risk management and aligning the ERM process with general management, candidates can develop strong knowledge required for risk-based decision making.

Eligibility for Students:

  • Age : Minimum 18 years of age
  • Education : At least XII grade
  • Work experience : No experience OR up to maximum 24 months’ experience

Eligibility for Professionals:

  • Age : Minimum 21 years of age
  • Education : At least graduation
  • Work experience : Minimum 24 months’ full time work experience in any field/sector (except risk management)
  • Examination : February/May/August/November
Register today for the Level 1 Examination and start preparing using the IRM study resources
  • Level 1

  • Duration : 2 Months
  • No. Of Units : 2
  • Study Hours : 60 hrs
  • Free Live Study Sessions
  • Level 1

  • Duration : 2 Months
  • No. Of Units : 2
  • Study Hours : 60 hrs
  • Free Live Study Sessions
Level 1  

IRM’s Level 1 Examination is the first step towards starting a career in Enterprise Risk Management with the world leading professional body. Successful completion of IRM’s Level 1 Examination entitles you to an international certificate, access to IRM's Level 2 Qualification and membership into IRM India alumni community. The Level 1 Examination can be pursued by students and working professionals alongside their graduation or post-graduation or professional career. Candidates who are aspiring risk leaders, budding entrepreneurs, next-gen family business owners or business heads have been enrolling for IRM's examinations.

The Level 1 Examination covers the foundational knowledge that organisations expect as well as the critical risk identification and mitigation skills that professionals need to respond to complex uncertain events impacting all departments of an organisation that include marketing, human resources, procurement, supply chain, information technology, cyber security, sales, legal, research & development and many more. The curriculum empowers you with the theory and practice of enterprise risk management in-line with ISO 31000 standards, COSO framework and industry best applications with a combination of case studies, applied exercises and current affairs. As the awareness of risk management grows from an enterprise perspective, employers and regulators have recognised IRM’s qualifications across all industries and sectors.

The Level 1 Examination is now completely online for select countries across Asia including India, Singapore, Hong Kong, Vietnam, Thailand, Indonesia, Cambodia, Philippines, Japan, Laos, Malaysia, Mongolia, Sri Lanka and China. Students and professionals from these countries are now required to enrol for the online Level 1 Examination through IRM India only.

Skill & Knowledge
97%
of candidates agree that they are able to think from a risk perspective and have become analytical in their approach
Application
92%
of candidates agree that they have learnt the process to identify and manage risks
Current Trends
86%
of candidates agree that they are better aware of global inter-connected events and risk management frameworks
Exam Success
70%
of candidates have generally passed the Level 1 Examination in the last 12 months
Industry
60%
of candidates in the industry are working in non-insurance roles which is the true essence of enterprise risk management

Features of the Level 1 Curriculum

Global risks

Risk culture and maturity

Identification, assessment, mitigation of risks

Risk appetite

Risk frameworks

Black swan events

Entry Criteria

Candidates enroling for the Level 1 Examination can be:

  • Students who are minimum 18 years of age and have successfully completed XII grade with no experience or up to maximum 24 months of work experience
  • Working professionals who are minimum 21 years of age, have successfully completed graduation with minimum 24 months of full time work experience in any field/sector (except risk management)

No background or knowledge of mathematics or finance is required for learning enterprise risk management.

If you are a professional with 2-3 years of experience in risk management, you could be eligible for an exemption from IRM’s Level 1 Examination and can directly apply for the Level 2 Qualification.

Submit your exemption request.

Click here to learn more about Level 2 qualification.

Duration

  • The time taken to complete the Level 1 Examination is maximum two months’ subject to the candidate passing the examination in the first attempt
  • The indicative self-study time is average 60 hours plus 8 hours of live study support sessions available at no extra fee.
  • Generally, an average study time of 1 hour per day should suffice

Modules of Level 1 Examination

Enterprise risk management is applicable for everyone as it goes beyond finance and insurance and covers the following:

  • Reputation, branding, marketing risks
  • Health and safety risks
  • Procurement and supply chain risks
  • Technology and cyber security risks
  • Environmental and geo-political risks
  • Human resources and people risks
  • Insurance and financial risks

As the economy becomes more complex, organisations find themselves confronting an increasing array of risks that can affect their businesses significantly. From investigating cyber risks, climate change, pandemics and fraud to co-ordinating intricate supply chains and operational risk; an effective enterprise risk management system is increasingly seen as a cardinal for businesses in all sectors. The Level 1 Examination curriculum blends very well with your current education or work and draws parallels from real-life examples, empowering you with the tools and techniques to identify and manage any kind of risks. The curriculum for the Level 1 examination covers:

Unit 1

Introduction

  • Understanding risk maturity
  • Understanding the risks around us
  • Global interconnected events
  • Case studies on business failures

What is Risk?

  • Learn how to define risk
  • Understanding how risk management can be used to both maximise opportunities and minimise threat
  • Understanding the principles and processes of risk management
  • Establishing the attributes of effective risk management

Context and Objectives

  • Understanding the purpose and scope of risk management
  • Establishing the relevant risk framework including roles and responsibilities and policies
  • Develop an awareness of risk appetite
Unit 2

Risk Assessment

  • Identification techniques
  • Assessing risk and selecting appropriate actions and controls using key tools, such as risk registers, risk bow-ties and risk matrices
  • Practically applying risk assessment using case studies to identify and analyse

Risk Action

  • Understanding risk treatment plans
  • Recognising control effectiveness
  • Awareness of business resilience

Communication and Reporting

  • Techniques to keep the risk management process alive
  • Develop and appreciation of effective risk reporting
  • Communicate risk to all levels and to external stakeholders

Study support

Study for the Level 1 Examination with access to –

  • study materials provided upon completion of your enrolment and payment of fees.
  • live study sessions that are conducted by IRM accredited industry experts who will mentor and guide you in preparing for the Examination.

The examination is conducted online four times a year (February, May, August, November) on the last Sunday of the respective month. Candidates do not require any additional tuition as the materials and sessions are easily comprehensible. IRM accredited exam coaches are different for professionals and students. These sessions are also accessible as recorded videos until the date of the examination. IRM’s elaborate resources provide a solid foundation for your exam success. The table below will help candidates in understanding the relevance and applicability of various study resources.

Study Tools Study Support Exam Relevance
Provided to candidates Provided to candidates
Student Professional Student Professional
Live sessions & Exercise Yes Yes High High
Handbook (Student / Professional version) Yes Yes High High
ISO Guide by IRM Yes Yes Medium High
COSO Guide by IRM Yes Yes Medium High
Global Risk 2020 Yes Yes Low High
Access to Webinars by International Trainers No Yes Not Applicable Medium
Risk Management Perspectives of Global Corporations No Yes Not Applicable Medium
How to Hire a Chief Risk Officer No Yes Not Applicable Low
Social Media Exercise No Yes Not Applicable Low
Risk Appetite & Tolerance Executive Summary No Yes Not Applicable Low

TimelinesApplication Timelines and Key Dates

The Level 1 examination is conducted online four times a year (February, May, August, November) on the last Sunday of the respective month. Resit exams are conducted every month on the last Sunday of the respective month. The study support sessions for Students and Professionals are conducted separately.

The results are announced within 15 days of the exam date

December 2020
Student/Professional Exam
20th
December 2020
  • Study support dates for this examination are on 21st, 22nd, 28th, 29th Nov 2020
  • Last date to enrol - 20th Nov 2020
February 2021
Student/Professional Exam
28th
February 2021
  • Study support dates for this examination are on 30th & 31st January, 2021
  • Last date to enrol - 31st December, 2020
May 2021
Student/Professional Exam
30th
May 2021
  • Study support dates for this examination are on 24th & 25th April, 2021
  • Last date to enrol - 31st March, 2021
August 2021
Student/Professional Exam
29th
August 2021
  • Study support dates for this examination are on 24th & 25th July, 2021
  • Last date to enrol - 30th June, 2021
November 2021
Student/Professional Exam
28th
November 2021
  • Study support dates for this examination are on 23rd & 24th October, 2021
  • Last date to enrol - 30th September, 2021

ExaminationExamination

The Level 1 examination is online, application-based with multiple-choice questions. Questions from previous examinations are available in the study materials. Candidates are permitted one additional resit at no extra fee. The results of the examination are made available within 10 working days. The format of the examination for students and professionals is different.

Mode Online, link will be sent on email 2 days prior to the examination
Format
  • 25 to 35 questions depending on the score points
  • Multiple choice
  • Application based questions (including case studies)
Duration 90 minutes i.e. One hour, thirty minutes
Technology Requirements (Detailed instructions regarding technology shall be available on the enrolment completion page)
  • Laptop / desktop
  • Good internet connectivity with a backup internet connection
  • Fully functional inbuilt microphone
  • Fully functional webcam
Browser Requirements
  • All other windows / tabs must be closed
  • All electronic study materials / webinars must be closed
  • All activities during the exam will be strictly monitored
Optional Requirements
  • Notepad
  • Pen
Scoring
  • 600 score points
  • No negative marking
  • Answering all questions is mandatory
Required Pass Percentage
  • 60% i.e. 360 score points
  • Generally about 70% students pass the Level 1 Examination

Admission ProcessEnrolment process

  • Select your preferred examination month under the Enrolment page
  • Complete the registration form including payment of fees and access the following on the registration completion page
    • Download the study materials
    • Complete the Risk Management Aptitude Test (RMAT)
    • Register for the study support sessions applicable for the selected examination
  • Candidates will also receive an email with the above instructions after payment of the fees

TimelinesFees

Student Exam
Global fee: GBP 700
Subsidised fees for Indian students: INR 25,600
Inclusive of 18% GST
Fees include RMAT, study support with live online sessions, Level 1 examination, reference materials, certification and one year alumni membership fee
Professional Exam
Global fee: GBP 700
Subsidised fees for Indian professionals: INR 25,600
Inclusive of 18% GST
Fees include RMAT, study support with live online sessions, Level 1 examination, reference materials, certification and one year alumni membership fee

TimelinesExemptions

If you are a professional with 2-3 years of continuous experience in enterprise risk management, you could be eligible for an exemption from IRM’s Level 1 Examination and can directly proceed to Level 2.

Submit your exemption request.

Click here to learn more about Level 2 qualification.

Enrol for the Level 1 Examination at the earliest to start preparing using the IRM study resources. The last date of enrolment for the Level 1 examination (Feb/May/Aug/Nov) is mentioned under Application Timelines and Key Dates.