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Gain The Skills To Navigate Operational Risks
with IRM's Level 4 International Certificate in Operational Risk Management (ICORM)
Study our revised Level 4 qualification
to prepare for managing operational risks today
Become a Certified Institute of Operational Risk Practitioner and member of IRM’s Institute of Operational Risk. (CIOR) to
Supercharge your career with the IRM.
Learn Online | 9 Units | 3-9 Months | 150 hours TQT | MCQ Exam | Ofqual regulated from Sept 2024
IRM's Level 4 International Certificate in Operational Risk Management (ICORM) is designed to introduce students to
the fundamental theory, management, and application of Operational Risk Management to ensure timely organisational success.
This in turn enhances an organisation’s ability to achieve its objectives and ensure sustainability based on transparent and ethical behaviours.
There has never been a better time to increase your earning potential and career prospects by gaining an internationally recognised and
UK Ofqual accredited Operational Risk Management qualification.
What will you learn?
IRM’s Level 4 International Certificate in Operational Risk Management (ICORM), introduces you to the concepts of risk and operational risk management and how these operational risks are identified, categorised, managed, monitored and reported
What is covered in the ICORM syllabus?
| Units | Key Concepts | Description |
| Unit 1 | Introducing Operational Risks and Risk Management |
Explore operational risk in different contexts. |
| Unit 2 | Operational Risk Controls | Investigate Operational Risk controls. |
| Unit 3 | Operational Risk Management, Monitoring and Reporting | Examine Operational risk management, monitoring and reporting. |
| Unit 4 | Risk Culture | Analyse the risk culture of organisations. |
| Unit 5 | Operational Risk Strategy and Risk Appetite | Explore risk strategy and appetite. |
| Unit 6 | Operational Risk Categorisation and Event Data | Explore the nature and use of event data and its categorisation. |
| Unit 7 | Operational Risk Assessment Methods | Understand scenario analysis in operational risk management. |
| Unit 8 | Operational Risk Monitoring and Reporting | Explore the indicators and reporting of operational risks. |
| Unit 9 | Operational Risk Event Management | Explore the indicators and reporting of operational risks. |
Why should you study for the Level 4 -
International Certificate in Operational Risk Management?
IRM’s Level 4 International Certificate in Operational Risk Management (ICORM) is a risk industry professionally recognised qualification. It is regulated by England’s Office of Qualifications and Examinations (Ofqual). Whether you are looking to get a grounding or solidify your expertise in Operational Risk Management, this is the ideal qualification for you.
You can study online from anywhere in the world at your own pace. You will be supported by a Module Coach and through an online student forum.
By enroling you will:
Study
online
Get support from a
module coach
Take a multiple-choice
exam
Risk management is an inherent part of good management practice. By developing your expertise through our qualifications, you will be equipped with the skills to manage organisational risks and seize opportunities to help your business achieve its objectives at lower overall costs.
Why the IRM?
IRM is the leading global provider of education and training for risk professionals, enabling and empowering you to make better-informed risk decisions. The institute prepares risk management professionals for the challenges of today and the opportunities of the future.
Our internationally recognised online professional qualifications advance those working at risk throughout their careers, with employers across the globe actively looking to hire IRM-qualified risk professionals.
Benefit from our 30 years of experience to supercharge your career and to:
Increase your earning potential
Gain international recognition in risk management
Improve your career prospects
Gain more confidence in your role
How much does it cost?
IRM's Level 4 International Certificate in Operational Risk Management (ICORM)
|
Description |
Fee (VAT exempt) |
|
IRM's Level 4 International Certificate in Operational Risk Management
|
£850 |
About the examinations.
There are 4 assessment sessions a year: March, June, September and December. Learners will be automatically allocated the first available exam session. If you wish to change your session, you can do so once without any additional costs. The exam cannot be taken in the first three months after the enrolment.
Exams will be taken in person at a Pearson Vue Test centre. The exams consist of 60 Multiple Choice Questions (MCQs) that are to be completed in 90 minutes. Marking thresholds change from session to session after reviewing student performance to ensure consistency, validity, fairness and relevancy
What is included in the fees?
You can study for IRM's Level 4 International Certificate in Operational Risk Management through self-directed distance learning. Online learning on the IRM’s Virtual Learning Platform - Moodle gives you the flexibility to study at home at your own pace. Our extensive global network of examination centres means you can study and take your multiple-choice examinations anywhere in the world.
Online learning
Student handbook
Discussion forum
Module coach
Revision webinars and videos
Online resource center
Sample MCQ exam questions
Dedicated student support
Student membership
Please note: Core textbooks for this qualification are not included in the course fees and need to be purchased separately.
How has the revised syllabus changed?
- Updated material to reflect current trends, updated regulation and terms in Operational Risk Management.
- More synergy in covered topics, i.e. moving from simple to deeper investigations to enhance overall learning.
- Employer-led content and assessments to enable you to apply your learning to your role
- Deeper investigation into topics such as:
- Control and Residual scoring in Unit 2 now includes some calculations and covers the consequences of ineffective controls
o Elements of good risk cultures
o More assessment and monitoring of risk methods
o Inclusion of Quantitative risk modelling and Stress Testing approaches
o More depth to content on Risk Indicators
o A new unit on Operational Risk Event Management.
- Control and Residual scoring in Unit 2 now includes some calculations and covers the consequences of ineffective controls
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How to enrol
There are no formal entry requirements for IRM’s Level 4 International Certificate in Operational Risk Management.
This certificate is relevant to risk management in all sectors globally. It is recommended that students have some basic understanding of risk management.
No formal entry
requirements
Access to 5000+ global test centres
Relevant for all
sectors
Applicable to all levels and roles
IRM's qualifications are delivered and assessed in English. If English is not your first language, we recommend you have an Academic IELTS score of 6.0 (with no element less than 5.5) or equivalent evidence of competence in the English language before beginning your studies.
Over 10,000 students from 143 countries from the likes of:
have accelerated their career with us
Ready to enrol?
Take the next steps to improve your earning potential.
FAQ's
What are the entry requirements?
The qualification is delivered in the English language. If English is not the student’s first language, IRM recommends they have an Academic IELTS score of 6.0 (with no elements less than 5.5) or equivalent evidence of competence in the English language before beginning their studies.
How do I register?
To enrol in the course, please complete the online enrolment form here https://www.theirm.org/joining/
You can either pay by card right away or get an invoice to make a bank transfer at a later time.
The enrolment is ongoing so you can enrol at any point during the year and you will have a year to complete the course from the moment your enrolment is confirmed.
What does the course fee cover?
Once successfully enroled and the payment has been made you will gain access to the following:
- Our online virtual learning environment, with activities and quizzes
- Unit guides and essential readings
- Discussion forum
- Module coach
- Supportive webinars and videos
- Sample multiple-choice-questions (MCQ)
- Online resource centre
- Dedicated Student Support Team
- IRM Student Membership
- Special Interest and Regional Groups – a great networking opportunity
- Discounts on training courses and other IRM products
Are textbooks covered in the fee?
No, students need to buy the main text book themselves.
Discounted rates
Discounted rates are available for groups of 10 or more employees from the same organisation enroling for the same session. Please contact our Business Development Manager Joanna Kraska at joanna.kraska@theirm.org for further details.
Can I defer my exams once I have enroled and paid for my course?
As standard policy, we do not offer deferrals.
What happens if I failed, or missed the exam?
If you fail or are not able to sit your scheduled exam(s) for any reason, you can decide not to attend the exam(s) and will be marked as absent.
Access to the VLE will be revoked. Access will only be reinstated after the payment has been received for your resit. You are permitted only ONE re-sit and this must be completed within 12 months of your initial enrolment.
You will be charged a re-sit fee of £175 to enter your next exam, and you will need to take this in the immediate assessment session after receiving your exam results.
How will I get the course material?
48 hours after the payment has been received, we will send an email to you with your credentials to log into the Virtual Learning Environment, where you will find your learning materials.
How long does it take to complete the ICORM?
Approximately 150 hours of study are required to complete the course. Students have a maximum of one year to finish from the moment their enrolment is confirmed.
How are the examinations set?
There are 4 assessment sessions a year: March, June, September and December. Learners will be automatically allocated the first available exam session. If you wish to change your session, you can do so once without any additional costs. The exam cannot be taken in the first three months after the enrolment.
Exams will be taken in person in a Pearson Vue Test Centre and they consist of 60 multiple choice questions that need to be answered in 90 minutes. The pass mark changes from session to session after reviewing students’ performances to make sure the exams are fair and relevant.
How many sittings of the exam are permitted?
You can sit your exam once, and if you fail or are absent you can apply for one resit at an additional cost. If you fail your resit or are absent on the day of the exam, you will need to enrol in the course again and start from the beginning.
How soon will I know my results?
Results are published approximately 6 weeks after the exam is taken.
If I have a disability or a learning difficulty which makes it difficult to study or to access the exam, what should I do?
The Institute and its exam provider, Pearson Vue, will aim to make reasonable adjustments to allow you to be able to study and access the exam. Where this relates to study material please contact the Institute via studentqueries@theirm.org or for the exam environment please fill this form and send it to Exams directly at exams@theirm.org .
Does this course give you access to the International Diploma in Risk Management?
No, it does not. This is a standalone course.