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. The Level 3 will start your journey towards becoming a business leader or chief risk officer.
Duration : 12-18 months (maximum 3 years from enrolment)
No. Of Units : 4 (Module 3 to 6)
Study Hours : 180-200 hrsPast 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:
Entry CriteriaStudents 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:
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.
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Modules of Level 3 QualificationThis 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:
This unit covers the basics of risk management: its development, approaches, processes, standards, definitions and categories including how risks manifest and change.
This unit covers the basics of risk management: its development, approaches, processes, standards, definitions and categories including how risks manifest and change.
This unit covers risk prioritisation, qualitative risk analysis methods and techniques, and likelihood and impact.
This unit covers the art and science of decision making, the risk-based decision maker, decision making analysis and techniques, and problem solving.
This unit covers measuring and improving performance, risk management skills and training, and conflict management.
This unit covers cultural aspects of organisations, corporate social responsibility, and conduct and reputation risk.
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:
This unit covers corporate governance, risk oversight, audit, regulation and compliance.
This unit covers strategic planning, leadership, roles and responsibilities and managing stakeholders’ expectations.
This unit covers risk reporting, roles and responsibilities in respect of reporting, data, analytics and communications and re-evaluation after an event.
This unit covers the art and science of decision making, the risk-based decision maker, decision making analysis and techniques, and problem solving.
This unit covers measuring and improving performance, risk management skills and training, and conflict management.
This unit covers cultural aspects of organisations, corporate social responsibility, and conduct and reputation risk.
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:
This unit covers the meaning of resilience, resilience of organisations and of society, current thinking in respect of resilience and risk management.
This unit covers key elements of business continuity management, risk management and business continuity management and business impact analysis.
This unit covers crises management and communication, types of crises management plans, contingency planning and the nature and consequences of crises.
This unit covers the psychology of risk perception, perception, attitude and behaviour, risk taking, risk management and perception.
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.
This unit covers emerging risks and their core attributes, nature of global risks, predicting new risk, black swan events and future risk.
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:
This unit covers the processes that will have to be gone through in order to carry out valid research or investigation.
This unit covers what is meant by a literature review, how it should be done, presented and used.
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.
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.
This unit covers the ethics and permissions required to be able to undertake a project, especially in relation to the workplace, referencing and plagiarism.
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 SupportSelf-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
Application timelines and key datesStudents 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.
ExaminationThe 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 |
Enrolment process
Fees(including 18% GST on registration fees)
ExemptionsDo 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:
Click here for a preliminary assessment
Once you register for the exams, you become a part of a professional community (check fee inclusions and type of membership) and can play a critical role in supporting the learning and development you need to progress in your career. Joining us will bring you the following benefits:
All professional members are expected to obtain 30 hours’ CPD each membership year (July to June) to maintain their professional designation and the IRM carries out random spot checks each year. You do not need to submit your annual CPD report if you are not directly asked to
Membership subscriptions are renewable on 1 July. They cover a 12-month period up to 30 June the following year. Membership fees can be directly renewed here. You can refer to the Low GDP rates as an Indian candidte.
