Institute of Risk Management

Fundamentals of
Enterprise Risk Management
Level 1

www.theirmindia.org Developing risk professionals

 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 qualifications
and training, publishing research and guidance, and setting professional standards.
For over 30 years our qualifications have been the global choice of qualification for risk
professionals and their employers. We are a not-for-profit 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 benefited from our qualifications include:

2 The IRM


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Overview 6
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Contents 3
 Introduction to IRM Qualifications
IRM’s qualifications 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 Certificates 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.

Live study International Online

sessions recognition examination

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 qualifications to meet industry needs.
We are responsive to the latest challenges facing risk managers, such as international regulatory
developments in the financial services sector. The post-crash environment has seen regulators,
investors and business partners 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.

4 Introduction to IRM Qualifications

Learning journey after the Level 1 examination
International Certificate in Enterprise Level 3
Risk Management (Level 2)
(Modules 1-2) International Diploma in
Or Enterprise Risk Management
International Certificate in Financial (Modules 3-6)
Services Risk Management (Level 2)
(Modules 1-2)

IRM Student Membership

Enrolling for the Level 2 qualification means you join IRM and become part of our global community
that covers 143 countries. You can also access a valuable range of benefits 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.

Our students are based in Driving excellence for

143 countries over 30 years

Benefits to employers
An organisation that effectively and efficiently 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 qualifications, you will benefit
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, qualifications, training and events.

Introduction to IRM Qualifications 5

 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 and access to IRM's Level 2 Qualification. 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.

Overview
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.

Unit 1: Unit 2:
Global risks, risk maturity, concepts ERM process, risk mitigation, risk
and frameworks categories and reporting

Entry requirements
Candidates enrolling 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 (Student examination)

• 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 (Professional examination)
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.
Further details of this are on the IRM website at www.theirmindia.org

6 Overview
Progression
Completion of the IRM Level 1 Examination gives you access to the Level 2
[IRMCert] International Certificate in ERM or Financial Services ERM examination
available in June or November each year at any of the 360 exam centers in India.

How long does the Level 1 take to complete?

You can complete the Level 1 within 2 months. An indicative study time for the
examination is between 60 and 90 hours depending on the individual candidate.

Assessment
Both units are assessed by a 90 minute Multiple Choice Question (MCQ) examination
that is conducted online through a proctored platform.

Examination sessions
You can enrol for February, May, August or November each year for the examination.
Check the registration timelines and key dates here https://www.theirmindia.org/level1

Study Resources
IRM India's elaborate resources provide a solid foundation for your exam success.
• Hardcover physical handbook couriered to your preferred address (only in India)
• Live study support sessions delivered by IRM India accredited exam coaches where
these sessions are organised virtually in seperate batches for working professionals
and students. These sessions are also accessible as recorded videos until the date of
the examination.
• International pre-recorded webinars by IRM
• Other electronic reference material
• Revision question booklet available at an additional fee

Overview 7
 Unit 1 and 2
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.

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

Introduction What is Risk?

Contents Contents

1. Understanding risk maturity 1. Learn how to define risk

2. Understanding the risks around us 2. Understanding how risk management can
3. Global interconnected events be used to both maximise opportunities and
4. Case studies on business failures minimise threat
3. Understanding the principles and
processes of risk management
4. Establishing the attributes of effective risk
management

8 Unit 1 & 2
 Context and Objectives Risk Assessment

Contents Contents

1. Understanding the purpose and scope of 1. Identification techniques

risk management 2. Assessing risk and selecting appropriate
2. Establishing the relevant risk framework actions and controls using key tools, such
including roles and responsibilities and as risk registers, risk bow-ties and risk
policies matrices
3. Develop an awareness of risk appetite 3. Practically applying risk assessment
using case studies to identify and analyse

Risk Action Communication and

Reporting

Contents Contents

1. Understanding risk treatment plans 1. Techniques to keep the risk

2. Recognising control effectiveness management process alive
3. Awareness of business resilience 2. Develop and appreciation of effective
risk reporting
3. Communicate risk to all levels and to
external stakeholders

Unit 1 & 2 9
 Further information
Exam Format and enrolment
Enrolling for the examinations can be done by completing the application process on the
website. Please visit www.theirmindia.org/admission to enrol for the examination. Companies or
organisations may register a group of employees / students by submitting their interest here
www.theirmindia.org/enquiry

10 Further information
Feedback from global students

Jonanthan Groves, CFIRM

Chief Risk Officer
QBE, Equator RE, Bermuda
“IRM qualifications provide a practical framework and a structured way of thinking.
This is vital to being successful in a risk role and the CPD requirement, ensures you
keep it current.”

Gemma Clatworthy, IRMCert

Senior Risk Manager, Enterprise Risk Strategy
Nationwide Building Society, United Kingdom
“The International Certificate has given me a good base for my risk management
knowledge and allowed me to develop my thinking in terms of how we can apply
principles and theory in practice.”

Johnny Kollin, IRMCert

Vice President, Wholesale Credit Sanctioning
Barclays, United Arab Emirates
“The Certificate is a great way for professionals to learn the foundations of risk and
for seasoned professionals to broaden and deepen their existing knowledge, staying
abreast with recent developments and networking with fellow risk professionals.”

Cheryl Forster, CMIRM

Operational Risk Manager
Atom Bank, United Kingdom
“IRM qualifications teach you everything you need to know to become an effective
risk manager and are recognised by employers worldwide. Also, studying at home
gives you full flexibility to fit it into your own circumstances.”

Feedback from Indian students at

www.theirmindia.org

What our students say 11

Institute of Risk Management -
India Affiliate

E: admissions@theirmindia.org
W: www.theirmindia.org

Developing risk professionals