Level 3  |  Designation: GradIRM

The Level 3 Qualification has been the global choice of qualification for risk professionals and their employers. With a detailed study of the different techniques for identifying risks, opportunities and threats; the exploration of common qualitative and quantitative methods for analysing risks and uncertainties; control types, options and techniques; and lastly project risk management, students will learn how to examine risk and risk management as it relates to organisational resilience and to society as a whole. The qualification also covers key elements in building resilience, business continuity, crisis management, corporate governance and decision making, organisational performance and oversight of risk management, organisational culture and ethics, strategic risk and leadership. Level 3 will you start your journey towards becoming a business leader or chief risk officer.

  • Level 3

  • Duration :  12-18 months (maximum 3 years from enrolment)
  • No. Of Units :  4 (Module 3 to 6)
  • Study Hours :  180-200 hrs
Candidate Feedback
  • Level 3

  • Duration  :12 - 18 months (maximum 3 years from enrolment)
  • No. Of Units  : 4 (Module 3 to 6)
  • Hours per Module  : 180-200 hrs
Level 3  

Past and current events are testaments to the fact that any significantly disruptive event is an inevitability and not merely a possibility. Having an effective enterprise risk management plan in place improves a company’s health and resilience and safeguards it from such events. IRM’s Level 3 Qualification covers key elements of enterprise risk management that will develop the skills required in candidates for creating a risk-focused culture in their organisation. IRM’s Level 3 can be pursued by Level 2 qualified students/professionals who wish to augment their careers and professional status and/or supplement their risk management experience by obtaining an internationally-recognised qualification. They could be aspiring risk leaders, nascent entrepreneurs, next-gen family business owners, professionals from risk-related disciplines or corporate heads.

Completely research-based, Level 3 Qualification’s modules are assessed through practical assignments and a concluding dissertation, which are submitted online using IRM Global’s educational portal. After completing Level 3, you will enter the workplace risk-ready to make a difference in the current fast-paced business world. This qualification is recognised at par with a Master’s degree. Any candidate who has completed IRM's Level 2 can apply for Level 3. As an IRM Level 3 candidate, you will be advancing closer towards achieving professional membership grades and designations like CMIRM (Level 4) and CFIRM (Level 5).

The Level 3 Qualification will:

  • Take you on pathway of becoming a risk-intelligent business leader or Chief Risk Officer
  • Open up opportunities globally
  • Provide vital practical skills that will support career progression in your field
  • Provide an internationally recognised designation “GradIRM” across 143 countries
  • Offer an entry route to IRM’s Level 4 Qualification (Designation "CMIRM" )

Entry Criteria

Students can enrol for the Level 3 at any time. Learning materials will be available from September 2020 for Modules 3 and 4 and from 2021 for Modules 5 and 6.

Candidates enroling for the Level 3 Qualification can be:

  • Students or professionals who have successfully completed IRM's Level 2 Examination
  • Students or professionals who have studied at Universities eligible for standard exemptions - click here to see the list

If you are a professional with 8 years of continuous experience in risk management, you could be eligible for an exemption from IRM's Level 1 to 3 and can directly apply for the Level 4 Certified Member status via the Senior Executive Exemption Route.





Duration

  • The time taken to complete the Level 3 qualification is between 12 to 18 months
  • Students undertaking the Level 3 qualification must complete the qualification within three years of enroling as a Level 3 candidate. Students can submit assignments when they are ready but must successfully complete modules 3-5 before proceeding to module 6 within this timeframe.
  • An indicative study time for the qualification is between 180 and 200 hours per module.

Modules of Level 3 Qualification

Module 3: Risk Management: Assessment and Control

This module advances the understanding of risk identification, analysis, evaluation and control gained from the International Certificate. This leads to a detailed examination in different techniques for identifying risks (opportunities and threats), exploration of common qualitative and quantitative methods for analysing risks and uncertainties, control types and project risk management.

Learning outcomes:

By the end of this module, you should be able to:

  • Discuss, from a position of knowledge, the concepts of risk and risk management
  • Describe and explain each component of risk assessment and risk control
  • Explain when and how each part of risk assessment and risk control should be used and who should be involved
  • Evaluate different risk identification, risk analysis and risk control methods and techniques including risk modelling
  • Explain risk complexity and how risk control decisions can be made
  • Discuss risk information sources and risk management in respect of projects
Main learning units and topics

Unit A: Risk management overview

This unit covers the basics of risk management: its development, approaches, processes, standards, definitions and categories including how risks manifest and change.

Unit B: Risk identification

This unit covers the basics of risk management: its development, approaches, processes, standards, definitions and categories including how risks manifest and change.

Unit C: Qualitative analysis

This unit covers risk prioritisation, qualitative risk analysis methods and techniques, and likelihood and impact.

Unit D: Decision making

This unit covers the art and science of decision making, the risk-based decision maker, decision making analysis and techniques, and problem solving.

Unit E: Risk management performance and training

This unit covers measuring and improving performance, risk management skills and training, and conflict management.

Unit F: Culture and ethics

This unit covers cultural aspects of organisations, corporate social responsibility, and conduct and reputation risk.

Module 4: Risk Management: Organisational Oversight

This module examines organisational oversight of risk management and the responsibilities of managing risk at the highest level. It looks at the areas of corporate governance and decision making, organisational performance and oversight of risk management, organisational risk culture and ethics, strategic risk and leadership.

Learning outcomes:

This module builds your knowledge on:

  • Strategic planning and managing risk in organisations at a strategic level and leadership
  • Corporate governance, corporate social responsibility and reputation risk
  • Monitoring, reviewing and reporting of risk management issues including regulatory issues
  • The science, art and techniques of decision making
  • Performance management and the need for training of staff in risk issues
  • Corporate risk culture and ethics
  • Communication strategies, data usage and control
  • The inter-relatedness of risk management in/on business decisions
Main learning units and topics

Unit A: Governance issues

This unit covers corporate governance, risk oversight, audit, regulation and compliance.

Unit B: Strategic planning and leadership

This unit covers strategic planning, leadership, roles and responsibilities and managing stakeholders’ expectations.

Unit C: Risk information and reporting

This unit covers risk reporting, roles and responsibilities in respect of reporting, data, analytics and communications and re-evaluation after an event.

Unit D: Decision making

This unit covers the art and science of decision making, the risk-based decision maker, decision making analysis and techniques, and problem solving.

Unit E: Risk management performance and training

This unit covers measuring and improving performance, risk management skills and training, and conflict management.

Unit F: Culture and ethics

This unit covers cultural aspects of organisations, corporate social responsibility, and conduct and reputation risk.

Module 5: Risk Management: Resilience, Perception and Society

This module is designed to enable students to examine risk and risk management as it relates to organisational resilience and to society as a whole. You will study key elements in building resilience and developing business continuity and crises management. The module also takes you into the realms of risk perception and risk communication. The last area examined is that of emerging and future risks, where your will consider the nature of new risks, and the tools and techniques available to risk management practitioners for dealing with these.

Learning outcomes:

By the end of this module, you should be able to:

  • Explain the similarities between business resilience and enterprise risk management (ERM)
  • Discuss how the relationship between ERM and business resilience can support the sustainability and maturity of organisations
  • Describe, discuss and critically analyse different approaches to resilience and the components of organisational resilience frameworks
  • Understand and describe organisational resilience strategies and demonstrate knowledge of application of these in the event of a crises or other event
  • Discuss and justify the role of the corporate risk manager in a crisis
  • Describe and discuss wider global risk and how this can be managed by society, business and governments
  • Analyse and evaluate causes of major incidents
  • Identify and explain emerging or future major risks to society, industry and commerce including that of technological advancement
  • Analyse and evaluate causes of major incidents
  • Demonstrate a knowledgeable understanding of risk perception, behaviour and their management
  • Explain and evaluate risk communication strategies and explore how they apply in major incidents, global risk issues
Main learning units and topics

Unit A: Resilience

This unit covers the meaning of resilience, resilience of organisations and of society, current thinking in respect of resilience and risk management.

Unit B: Continuity management

This unit covers key elements of business continuity management, risk management and business continuity management and business impact analysis.

Unit C: Crises management

This unit covers crises management and communication, types of crises management plans, contingency planning and the nature and consequences of crises.

Unit D: Perception and communication

This unit covers the psychology of risk perception, perception, attitude and behaviour, risk taking, risk management and perception.

Unit E: Societal risk

This unit covers societal risk and its management, industry and commerce’s part in managing societal risk, perception and resourcing of societal risk and building resilience in society.

Unit F: Emerging and future risks

This unit covers emerging risks and their core attributes, nature of global risks, predicting new risk, black swan events and future risk.

Module 6: Risk Management: Project

This final module allows you to undertake a specific and specialist piece of work in your own field. It will consist of a project which is of particular interest to you and/or your employer. It will be an original, realistic, feasible risk management project that will add to your own professional development and contribute to furthering risk management knowledge, ethos or practice in your own or other’s workplace or for society in general.

Learning outcomes:

By the end of this module, you should be able to:

  • Plan, undertake and complete an original, realistic and feasible risk management project in/or associated with their work context or equivalent
  • Demonstrate knowledge of research and inquiry methods and techniques
  • Use the skills of research, inquiry and/or practice to underpin the project
  • Critically analyse and interpret the results of the project
  • Demonstrate your ability to apply the technical knowledge, theory and understanding of risk management that you have learned through modules 1-5 (or equivalent)
  • Demonstrate an understanding of ethical issues, analytical and communication skills, as well as creative and original thinking
  • Make recommendations for your organisation or equivalent and/or the risk management sector based on the results of the study
  • Demonstrate an understanding of the limitations of the project and of future requirements
  • Present a project report which is appropriately and well-structured, written, reasoned and referenced in conjunction with the instructions given
Main learning units and topics

Unit A: Research and investigation process

This unit covers the processes that will have to be gone through in order to carry out valid research or investigation.

Unit B: The literature review

This unit covers what is meant by a literature review, how it should be done, presented and used.

Unit C: Research and investigation methods

This unit covers a range of methods that can be used to undertake valid research or investigation and how and when they should be used.

Unit D: Writing a project proposal with purpose

This unit covers how to write a valid and feasible research or investigation proposal that will allow you to go on to undertake the project.

Unit E: Ethics and permissions

This unit covers the ethics and permissions required to be able to undertake a project, especially in relation to the workplace, referencing and plagiarism.

Unit F: Presenting the project

This unit covers the regulations, protocols and conventions for writing the project and presenting it for assessment. It will cover the stages you have to go through and the content required.

Study Support

Self-directed distance learning

Studying for the Level 3 qualification is a rewarding experience. However, we recognise it can be a challenge when balancing distance-learning study, work and family commitments. To make studying as straightforward as possible, we provide a comprehensive support package. Students will gain access to our online learning platform, the Virtual Learning Environment (VLE) as soon as their application and payment has been processed.

Distance learning gives you the flexibility to study at home at your own pace.

Virtual Learning Environment

The VLE can be accessed from desktops, laptops, tablets and smartphones. It provides students with online access to the student handbook, learning materials and practice questions and the discussion forums.

Students will be provided with a reading list, however, additionally need to purchase core textbooks (available in e-book or hard copy format). The VLE leads the student step by step through the modules and provides activities and quizzes to help 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 are online tutorials led by the module coach.

You will have access to:

  • VLE – online student study area

  • Live webinars

  • Student handbook

  • Dedicated student support team

  • Discussion forum

  • Online resource centre

  • Module coaches

  • Guides and briefings

TimelinesApplication timelines and key dates

Students can enrol for the Level 3 any time after completing their graduation / post-graduation AND Level 2.

Working professionals can enrol for the Level 3 any time after completing Level 2.

Learning materials will be available from September 2020 for Modules 3 and 4 and from 2021 for Modules 5 and 6.

ExaminationExamination

The Level 3 Qualification modules are assessed through assignments which are submitted online, using IRM Global's educational portal.

Module Assessment
Module 3: Risk Management: Assessment and control Two written assignments
Module 4: Risk Management: Organisational oversight Two written assignments
Module 5: Risk Management: Resilience, Perception and society Two written assignments
Module 5: Risk Management: Project Assessed by submitting first a project proposal and subsequently a completed risk management project

Admission ProcessEnrolment process

  • You can take assistance from our student support team who can help you plan your examination month and study options
  • Confirm your application by filling up admission form [fillable PDF] and upload on the website.

TimelinesFees

GBP 3500

Inclusive of 18% GST

  • Core textbooks for this qualification are not included in the fees and need to be purchased separately. Learning materials, access to virtual learning environment and module coaches will be available from September 2020 for Modules 3 and 4 and from 2021 for Modules 5 and 6. You are not required to pay the student subscription fee.
  • 0% EMI financing now available for Indian candidates.

TimelinesExemptions

Do you have at least 8-10 experiences in Risk Management? You may be eligible for an exemption from all IRM Examinations with direct entry to Level 4 (CMIRM).

The Senior Executive Route to IRM Certified Membership is designed for senior risk professionals who wish to have their skills and knowledge in Enterprise Risk Management (ERM) formally acknowledged by the world leader in enterprise risk management. It is aimed at risk management professionals with at least 8-10 years’ experience, and allows them to demonstrate a parity of understanding and experience with Certified Members who have completed up to Level 3.

The SER process is completed in two parts:

  • The submission of a completed application form with a CV
  • A competency-based panel interview

Download the PDF form and send us the completed application with your CV to cmirm@theirmindia.org