IRM revamps Diploma

The revised Diploma was launched on Monday and is designed to allow students to 'seamlessly' progress from the IRM's lower-level International Certificate in Risk Management onto its flagship programme, explained the education provider. The new Diploma comprises of six modules. Successful completion of the first two modules leads to the award of the International Certificate in Risk Management, but students can now complete the remaining four modules to gain the Diploma in Risk Management. While the revised Diploma incorporates core components of the previous syllabus, it also introduces additional topics including risk appetite, risk culture, resilience and future risk.hideThe first two modules cover the principles and practice of risk and risk management. Those that wish to further their training will then study risk assessment and risk treatment. The final two modules are more strategically oriented. They examine issues of governance and risk culture in more depth and explore how organisations might plan for the future and become more resilient in the face of increasing global threats. "Since the original Diploma was created 25 years ago, globalisation has become a reality, cyber risk is the new normal and once experimental industries are now mainstream. Our revised Diploma ensures risk professionals are qualified to deal with today's complex reality," explained the IRM's education programme director, Dr Lynn Drennan, on the thinking behind the revision. The adoption of international standards such as ISO 31000 and the creation of core competence frameworks in risk management were two key influences on the IRM's decision to review and refresh its offerings. In order to decide on the shape of the new Diploma and the key skills needed by risk managers in today's business environment the IRM commissioned research into risk management competencies across the world. It also created a global Education Advisory Board made up of more than 30 risk professionals and academics to act as a sounding board and source of advice and information throughout the process. "Our research into core competencies in risk management confirmed that effective risk managers need a wide range of skills and a broad understanding of the tools and techniques available to identify, evaluate, quantify and treat risks. A high level of awareness of the special features of the industry or sector that he or she is operating in and the individual culture of the organisation, is also crucial," said Ms Drennan. She explained that communication skills are perhaps the most important for risk managers because they need to educate colleagues, persuade and negotiate in order to succeed. She said the Diploma encourages students to find out what tools are used to manage risk within their own organisations, question why things are-or are not-being done in a certain way and think about how to improve the management of risk in their own business environments. "In terms of our approach to student learning, the individual study guides incorporate learning activities that encourage the student to apply their knowledge within their own organisations, and are illustrated throughout with 'real world' examples and case studies," she explained. In short the new IRM programme is designed to meet the changing role of the risk manager and help students to drive risk management within their organisations. "Professional risk managers are increasingly being involved at the inception of new projects and programme design, which is essential if opportunities are to be maximised and corporate objectives achieved," said Ms Drennan. "But it's important to remember that we all manage risk-one way or another-within our own disciplines and departments and the IRM wants to see risk management embedded throughout organisations, as part of better management." The IRM's International Diploma in Risk Management is designed for both risk professionals and those who manage risk as part of their role. It is aimed at students from the private, public and voluntary, or third, sectors.

IRM revamps Diploma

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