Institute of Risk Management (IRM), headquartered in the UK, along with its India Affiliate, has partnered with NMIMS, one of India’s pioneering education institutions, to offer a Professional Programme in Enterprise Risk Management (ERM) through NMIMS’ Centre of International Studies (NMIMS CIS). The programme provides a structured pathway towards becoming a dynamic, globally-focused, risk-intelligent business leader, entrepreneur or manager. It will cover live, virtual study sessions, delivered by NMIMS, and integrated with IRM’s global ERM examinations from Level 1 to Level 3. The highly interactive online lectures, exercises, mock tests and case studies qualify for academic credits and certification from NMIMS (Deemed to be University), with globally-recognised professional designations from IRM, the world leader for ERM qualifications across 140+ countries.
Entry into the ERM Programme is not restricted to NMIMS students; the programme is open to students studying at any other college, working professionals as well as entrepreneurs and business owners. Aspirants from across India can enroll virtually in separate batches, starting with Level 1 all the way up to Level 3, which is at par with an International Master’s degree. Achieving success in ERM, after passing IRM’s rigorous qualifications through this programme, signifies expertise and proficiency in the essential knowledge and skills needed to manage enterprise-wide risks across sectors and economies, including cybersecurity, supply chain, climate change, reputation, and more.
Elaborating further, Hersh Shah, CEO, IRM India Affiliate, said: “In today’s complex business environment, a risk-intelligent leader is now preferred over a domain specialist who may not have the acumen to navigate through uncertainties like the pandemic or climate change or even a cyber-attack.
Furthermore, with SEBI, RBI, IRDAI and the Companies Act, 2013, mandating risk management in specified organisations, there is a huge demand for qualified risk professionals. With NMIMS’ legacy in quality management education and IRM’s global leadership and expertise in ERM qualifications, the Professional Programme in Enterprise Risk Management will produce talent equipped with complex problem-solving, risk-based decision-making and analytical thinking skills for every function and sector.
Market and recruitment data suggest that the average annual salary for qualified risk professionals ranges from INR 9 to 35 lakhs, while the average remuneration of a Chief Risk Officer in India ranges from INR 70 lakhs to 2.5 crores. This is an indication of the priority organisations are placing on their risk strategies and on building teams with qualified risk-intelligent talent.”
Dr. Ramesh Bhat, Vice Chancellor, NMIMS (Deemed-to-be University) said: “Organizations and regulators recognize the importance of qualified risk-analysts. These professionals possess expertise in managing enterprise-wide risks and can help develop a strong risk culture to enhance the survival of all types of organizations across sectors. With an advanced understanding of leading global risk frameworks, growing, interconnected uncertainties, and strategic threats, we are confident that candidates going through this program will gain the knowledge and skills, in areas of risk identification, risk mitigation, and crisis management strategies, required to achieve business objectives with the least risk exposure.
The Blended Learning Enterprise Risk Programme will address the demand-supply gap in ERM by helping aspirants enhance and develop the necessary skills and knowledge base in this area. The intensive classroom-oriented virtual learning will be delivered by experienced faculty from NMIMS CIS, enabling faster doubt clarification and more effective preparation through appropriate evaluation approaches. We recognize IRM’s global leadership in professional ERM education, and together we are committed to creating a globally-qualified talent pool of professionals.”
Ms. Deepali Kamle, In-charge Director, NMIMS Centre for International Studies, said: “Businesses face multiple challenges in the form of legal and regulatory frameworks, financial resources, market access, business support, development structures and training. Poor risk assessment can impact a firm’s overall performance. Mitigation of threats, as well as identification of relevant opportunities, albeit the risks, are the answers to the success of any business. The COVID-19 pandemic has given us myriad reasons to think and plan about the risks prevalent in our environment and around us. Traditionally, risk management was restricted to the finance and insurance spheres, but with the advent of the COVID-19 pandemic which crippled most of the industries, and with major corporate failures happening all around, the desideratum is robust Enterprise Risk Management.
This opens up a plethora of opportunities for students, young professionals, and even senior management, who wish to gain a deeper insight in the domain of risk. Risk management is actually a stimulus for growth and success, and being risk-ready is the need of the hour. We are very happy to be offering this niche professional qualification to candidates, in collaboration with IRM.”
IRM’s 5-level qualification and membership pathway, recognised across 140+ countries, provides an ideal opportunity for students, working professionals and entrepreneurs/business owners to leverage the demand for risk-intelligent experts and build a successful career. Candidates can enroll in the Professional Programme in Enterprise Risk Management while pursuing their studies or working anywhere in India. Upon clearing IRM’s examinations, they will receive IRM’s global certification in ERM, along with the opportunity to become a Certified Fellow of the Institute (CFIRM – Level 5), and eventually even becoming a risk-intelligent leader.