The Institute of Risk Management (IRM), a leading global professional body for risk management, is pleased to announce that it has been awarded accreditation by OFQUAL for its internationally recognised International Certificate in Enterprise Risk Management (ERM) i.e. the Level 2 Qualification. This recognition further solidifies IRM's commitment to delivering high-quality risk management education and ensures that students and employers can place their trust in this career-enhancing and practical professional qualification that is recognised by the global risk management profession.
IRM can now expand our portfolio and develop, deliver, and award qualifications from level 3, right through to level 7 as a recognised Awarding Organisation.
The International Certificate in Enterprise Risk Management i.e. the Level 2 Qualification has now been registered on England’s Regulated Qualifications Framework and sits at Level 5 which is equivalent to: Year 2 of a 3-year bachelor’s degree, Higher National Diploma, or a foundation degree.
Stephen Sidebottom, Chair of the IRM said:
“With the recognition from OFQUAL, the Institute of Risk Management remains at the forefront of risk management education and professional development. The IRM is dedicated to empowering people and organisations globally to build resilient and sustainable risk management practices.
This will mean that December 2023 candidates studying the International Certificate in ERM, and who successfully complete the qualification, (when the results are released early next year) will leave with a regulated qualification.
The OFQUAL accreditation reinforces the IRM's commitment to excellence and its mission to advance the field of risk management through education, research, and thought leadership.”
The International Certificate in ERM is a comprehensive qualification designed to equip individuals with the skills and knowledge necessary to effectively identify, assess, and manage risks within their organisations. The recognition by OFQUAL, the independent regulator of qualifications, examinations, and assessments in England, ensures that the program meets rigorous standards of quality and is internationally recognised.
The Certificate has recently been updated in line with current risk management principles and practices. The assessment for ERM is now a multiple-choice question exam and three assignments.
The accreditation brings several benefits for both students and employers. For students, the OFQUAL accreditation adds credibility and value to their qualification, as it is backed by a reputable regulatory body. It provides assurance that their learning experience meets industry standards and enhances their professional development. Graduates of the International Certificate in Enterprise Risk Management can highlight their expertise and stand out in the competitive job market, increase their earning potential, and demonstrate that they are current and competent in the workplace.
Overall top global student (by average pass mark for both Module 1: Principles of Risk and Risk Management and Module 2: Practices of Risk Management), Samuel Jefferson, IRMCert, Business Incident Manager, Close Brothers Group Plc UK comments:
“The IRM’s International Certificate in ERM provides a fantastic foundation in the principles and practice of risk management. One of the best aspects of the course, for me, is that all the content is presented in a business context; it is clear that the real-world application of principles and concepts was a key consideration when compiling the course content. This made the content really engaging and I found the case studies and examples incredibly interesting.
After completing my exams, I feel like I immediately have a better understanding of how risk management works in my organisation, and this has allowed me to approach my work in a more informed way. I would recommend that any risk professional, or aspiring risk profession, consider studying for the IRM Certificate.”
Employers also reap significant advantages from the OFQUAL accreditation. They can be confident that individuals holding the International Certificate in ERM have received a rigorous education in risk management. Hiring certified professionals offers employers a pool of talent with the necessary skills to effectively identify, analyse, and mitigate risks, thereby enhancing the overall risk management culture within their organisations. This accreditation enables employers to make more informed decisions when it comes to selecting qualified risk management practitioners.