Gain an International Certification in Enterprise Risk Management - IRM India

 Risk management is increasingly recognized as a critical issue for businesses across all sectors, from fighting cyber risk, epidemics, climate change and fraud to coordinating complex supply chains and operational risks. As awareness of risk management increases, employers, customers and regulators are increasingly attaching importance to qualifications such as international ERM certificates.

 

The International Certificate in Enterprise Risk Management is an ideal qualification for anyone seeking a solid foundation in the theory and practice of effective risk management. There has never been a better time to earn your risk management qualification, support your organization in the post-Covid-19 economic recovery, and increase your potential earnings and career prospects.

 

What will I learn?

 

We at IRM India will equip you with the skills and practical skills to advance your career prospects. Our qualifications are globally recognized as the industry standard in Enterprise Risk Management. You will gain the skills to help develop, adapt and implement robust risk frameworks to improve the resilience of your business.

 

 

 

Module One: Principles of risk and risk management

 

• The concepts and definitions of risk and risk management

• Risk management standards

• Enterprise risk management

• Risk assessment, identification, analysis, and evaluation

• Risk responses and risk treatment

Module Two: Practice of risk management

 

• The global business environment

• Risk strategy and framework

• Risk culture, appetite, and tolerance

• Risk and organisations

• Risk assurance and reporting

• Case studies in organisational risk management

By studying this certificate, you will be able to:

 

• Recognise the origins and key concepts relating to risk management

• Compare and contrast the main risk management standards

• Apply the concepts of ERM

• Examine the main approaches to risk identification

• Use the main approaches to the analysis and evaluation of risk

• Distinguish the main features of risk control techniques

• Understand the impact of the wider business environment on risk management across sectors and regions

• Illustrate the key features of a risk management framework

• Explain the significance of issues of culture, appetite and tolerance, as well the key features of corporate governance models, project risk and operational management systems

• Discuss the nature and purpose of internal control, audit and risk assurance techniques

• Analyse real-life case studies and identify key risk management lessons

Why the IRM?

 

IRM is one of the world's leading providers of education and training for risk professionals, enabling you to make more informed risk decisions. The institute prepares enterprise risk management irm experts for today's challenges and tomorrow's opportunities.

 

Our internationally recognized online professional qualifications foster people who work at risk throughout their careers, and employers around the world are actively seeking to hire IRM-qualified risk professionals. Also get enrolled into enterprise risk management courses in India.

Risk Management Process - Types of Risks | The IRM India

 Risk management process is the technique of identifying, evaluating, and controlling threats to the organization's capital and profits. These dangers rise up from diverse sources, which include monetary uncertainties, felony obligations, generation problems, strategic control errors, injuries and natural disasters. 

A fortunate risk management program helps a corporation take into account the total vary of risks it faces. Risk management process conjointly examines the link between risks and therefore the cascading impact they may wear AN organization' strategic goals. 

Why is risk management important?

Risk management has maybe never been a lot of necessary than it's now. The risks fashionable organizations face have full-grown more complex, burning by the fast pace of globalization. New risks are perpetually emerging, usually relating to and generated by the now-pervasive use of digital technology. temperature change has been dubbed a "threat multiplier" by risk experts. 

Businesses created speedy changes to the threats posed by the pandemic. But, going forward they're grappling with novel risks, together with however or whether or not to bring staff back to the workplace and what ought to be done to create their provide chains less prone to crises. 

                                         What is the risk management process?

The risk management process may be a set of practices designed to assist businesses minimize risks. the first goal of the chance management process is for businesses to keep up their operational potency even once sudden problems arise. Risk management involves each reactively resolution current risks and proactively preventing future risks from happening. By victimisation the risk management process, groups will increase their ability to either mitigate or resolve challenges if they occur. 

Types of risks

Most organizations categorize their risks into groups, such as: 

Regulatory

Regulatory risks consult with the local, federal or industry-specific laws that governments need businesses to obey with. These might embody the regulations set by the activity Safety and Health Administration (OSHA), Center for malady management (CDC) or Environmental Protection Agency (EPA). 

Security 

Security dangers relate to information breaches or times of fraud. Minimizing protection dangers enables make sure that companies hold touchy information, including their customers' credit score card numbers or their very own financial institution accounts, safe. 

Personnel 

Some risks can also additionally arise associated with a business's staff, together with now no longer having employees with the abilties to satisfy contemporary projects. By growing a dynamic and adaptable workforce, organizations can be capable of lessen their employees dangers. 

Market 

Changes inside markets or in the wider countrywide or international economic system can on occasion have an effect on character businesses. A corporation organized for those kinds of marketplace dangers can discover ways to hold supplying its offerings or adapt to new marketplace needs. 

Financial 

Financial risks check with credit score or debt amounts. A economic chance can also relate to a business' marketplace decisions, which includes what number of markets make contributions to a company's income. 

Brand 

Brand risks can have an effect on the general public belief of your company. Public members of the family groups frequently deal with the threat control associated with their company's logo to assist hold or enhance their organization's reputation. 

Operational 

Operational risks are demanding situations associated with the regular methods of your enterprise, together with deliver chains. Knowing the way to lessen operational dangers can assist maintain your enterprise functioning below many circumstances. 

Risk Management Process - Practical techniques for identifying risks

 Risk management process is a unique thing within organizations operating in all sectors and sectors of business sustainability. In today's competitive and complex environment, it is now one of the most important decision-making functions in an organization compared to the days when risk management was seen as a support function. 

According to ISO 31000 - International Risk Management System, the risk management process includes risk identification, risk analysis, risk assessment, risk management, risk monitoring and evaluation, communication and risk culture. Risk management helps organizations identify and assess. Analyzing, monitoring and mitigating risks that threaten organizational goals. 

Practical techniques for identifying risks:

Step 1: Get the team together

Most project teams are made up of a mix of senior and more experienced members who mine their historical databases to identify project risks. and new and less experienced members who look at project risks with fresh eyes. Your team members are also likely to be a mix of personality types across the introvert-extrovert spectrum. Your challenge is to bring together complementary and diverse perspectives to capture the wealth of project risks you wish to identify. 

Step 2: Each team member contributes risks

When you create your team in person or online, ask each team member to contribute a set number of missions. Depending on the size of your project, 5-10 risks per team member are realistic. Asking about these risks in writing has the advantage that each team member thinks about the risks individually and independently. This independent thinking, not guided or influenced by other, perhaps more dominant, team members, results in a range of different risks where more potential risks are identified. 

Step 3: Collate and group the risks

After collecting risks, combine duplicate risks and group them into categories. Group risks into categories and group them together in an orderly and orderly manner. There are usually 10-15 high level classes. For example, the three project constraints, cost, time, and scope, are common risk categories. The number and type of categories depends on the project and the management system of the organization. 

Step 4: Use a mind map to display risks visually

Mind mapping is a powerful technique for presenting a large number of risks in a streamlined and compact visual form. A mind map is a diagram based on a central concept. In our case, the central concept is project risk. Mind maps use a non-linear graphic format to outline ideas around a central concept. Imagine a spiderweb or a wheelbarrow. 

Risk Assessment India - Risk Management Process | The IRM India

 Creating a good risk management plan will help protect your company's resources, reputation and people. In addition, each organization communicates risk differently and has its own internal risk management culture and protocol. The risk management process must integrate the internal and external context in risk planning. 

Principles of risk assessment 

Ensure risks are identified early

This is perhaps the most important principle of risk assessment india. Make sure you are on the cutting edge by conducting a risk assessment before starting a project. Identify sources of potential hazards and plan preventative actions and responses if they occur. Once the risks have been identified and their source found, they need to be measured. 

Factor in organisational goals and objectives 

Ensure that your risk management plan aligns with your organization's overall goals and objectives. If one of the risks you reported does eventually materialize, what will be its impact on the organization both financially and in terms of reputation? Each organization has different outcomes and priorities and should be included in the risk management plan. The risk strategy must be consistent with the overall objectives and culture of the organization. 

Manage risk within context

Context is very important when considering project risk because different organizations have different levels of risk tolerance. Different factors (political, technological, legal, social, etc.) affect organizations and industries differently. For example, one organization may be particularly vulnerable to its legal environment, while another may need to look more closely at its impact on society. 

Involve stakeholders 

During the risk management process, stakeholders must be involved in the decision-making process. By involving stakeholders in risk planning, you will identify and acquire potential risks that you may not have considered. 

Ensure responsibilities and roles are clear 

Risk management plans can be owned by individuals, such as project managers or change managers, but must be transparent and visible. Everyone should know their role in mitigating risk and accountability should be clear and comprehensive throughout the risk management process. 

Create a cycle of risk review  

Once you have identified your risk and developed a risk management plan or strategy, it is important to remember the mindset you have set. At each stage of the process, all risks must be assessed and, if necessary, preventive actions or measures must be taken. 

Strive for continuous improvement

After the project is complete, review how the risk management plan has progressed and there is room for improvement. Always adjust your risk management practices and try to bring these lessons into your next project. 

Enterprise Risk Management Services - The IRM India

 Enterprise risk management is the process of planning, organizing, directing and controlling the activities of an organization to minimize the harmful effects of risk on capital and earnings. An organization's risk management includes risks related to financial risk, strategic risk, operational risk and accidental loss. 

An ERM program can help increase awareness of business risks across your organization, build confidence in strategic objectives, meet regulatory and internal compliance obligations, and improve operational efficiency through greater application. consistency of processes and controls. 

Enterprise Risk Management Services

• The enteprise risk management services includes identifying and prioritizing critical business processes and the related risks.

• Identify unacceptable risks and develop risk treatment plans to close risk gaps.

• It uses artificial intelligence and other advanced technologies to automate inefficient and inefficient manual processes. 

• Develop risk profiles and key risk indicators to identify control deficiencies and assess how the ERM program is performing, how it deviates from corporate policy, and how many risk incidents 

ERM applies to start-up and family business owners, business leaders, and professionals in HR, logistics, supply chain, marketing, legal, sales, research, and development who want to apply risk information to their roles. Because risk is inherent in everything we do, the roles performed by qualified IRM professionals are very diverse. ERM covers the following types of business risks with the extensive knowledge and practical skills required to manage them.