India Chapter of Institute of Risk Management, UK (IRM India), the world’s leading professional body for Enterprise Risk Management (ERM) qualifications, today announced the results of the October Level-1 examination, held on Sunday, 25th October 2020. Sangeeta Gamre, Head – Projects, SRS Pharmaceuticals, and Chelna Gothi from Mithibai College, Mumbai, have topped in India, with 510 score points (85%) and 476 score points (79.4%) respectively.
Recently, IRM’s Level 1 examination was transitioned fully online, for candidates from India, and 14 other countries in Asia, namely China, Japan, Singapore, Sri Lanka, Nepal, Mongolia, Hong Kong, Vietnam, Cambodia, Indonesia, Thailand, Philippines, Laos, and Malaysia. IRM India Chapter has also been designated administrator for the Level 1 examination in Enterprise Risk Management, which shall now be conducted four times a year, in all 15 countries, via a secured, online testing platform, allowing students and professionals to kick-start a professional career through IRM’s global qualifications, from the comfort of their homes or offices. Additionally, IRM India has also partnered with the All India Council for Technical Education (AICTE), to offer certain scholarships in the Level 1 examination to students studying at AICTE approved institutions.
On this incremental development for students across the South-East Asia region, Hersh Shah, CEO, India Chapter of Institute of Risk Management, UK, said, “Our mission is to expand IRM’s global community and empower candidates to prepare for a professional career in Enterprise Risk Management at their comfort. We are confident that students will now have sufficient time to plan their studies and prepare for professional qualification. Generally, about 65% students have cleared the Level 1 examination in recent months and almost 97% of the candidates agree that they are able to think from a risk perspective and have become analytical in their approach after IRM’s Level 1. Further, in contrast to the traditional perspective towards risk management, 60% of our candidates work in non-insurance roles, indicating the broadening acknowledgement of the true scope of risk management in the country.”
Sangeeta Gamre, All-India rank-holder said, “This has been an excellent start to recognising & understanding various aspects of risks in organisation at all levels. The Level 1 touches end to end concepts of risk, though this is just the beginning. I still have a long way to go, and I would now like to pursue Level 2”.
Chelna Gothi, student, Mithibai College, said, “I did not clear the exam in the first attempt as I thought the questions would be generic and direct from the study materials. When I failed, I realised I need to prepare better, focus on the application of the theory, and use the study resources provided by IRM much more seriously. The Level 1 examination is tough if one does not prepare well, and it can get very confusing, with risk being such a vast subject. The study support sessions helped me a lot as well. I am extremely happy that all the efforts finally paid off, and I look forward to pursuing the Level 2 qualification.”
Sanjay Himatsingani, Director, IRM Global said, “The pandemic has sharply exposed the vulnerability of organisations of all sizes, to uncertainties and unforeseen threats. In the coming time, many more companies will undertake a course correction in their view towards risk management, to secure themselves against future crises. Investors will also take a sharper lens to the risk management policies and practices of startups they are considering investing in. This reorientation will be led by trained enterprise risk professionals, who possess the vision and analytical ability to anticipate potential risks, devise mitigation strategies, and navigate their organisations to the successful achievement of their objectives. IRM’s globally-recognized qualifications equip professionals with the skills necessary to become the vanguards of this transformation.”
The Level 1 ERM examination will now be conducted four times a year, that is, February, May, August and November, on the last Sunday of the respective month, from 4 PM – 5:30 PM IST, with a basic requirement of an internet connection and a fully functional webcam. The format consists of one paper, which is application and case study based, and the results of the exams are announced within 10 working days. For students to prepare for the examination, IRM also offers basic virtual study support sessions delivered by IRM experts, study material and webinars by IRM’s international experts, at no additional fee.
The Level 1 Examination can be pursued by students and working professionals alongside their graduation, post-graduation or professional career. Candidates who are aspiring business leaders across all sectors including financial services, risk consultants, entrepreneurs, family business owners or chief risk officers, have been enrolling for IRM’s examinations. At each stage after Level 1, candidates are entitled to a globally-recognised designation – IRMCert (level 2), GradIRM (Level 3), CMIRM (Level 4) and CFIRM (Level 5) – upon successful completion.
Candidates who complete IRM’s Enterprise Risk Management qualifications acquire knowledge that organisations expect, as well as the critical risk identification and mitigation skills that professionals need, to respond to complex uncertain events impacting all departments of an organisation, including marketing, human resources, procurement, supply chain, information technology, cybersecurity, sales, legal, research & development and many more.