IRM s Certification scheme

Transcription

1 Institute of Risk Management IRM s Certification scheme Transitional arrangements for students and qualified members

2 IRM Certification Raising standards across the profession High standards of quality and integrity are vital to the success of the risk profession. At IRM we set professional standards, build skills, cultivate talent, champion learning and support both individuals and organisations to improve their performance through building their risk management capability. IRM s new certification scheme aims to identify and promote qualified and experienced risk professionals. It recognises individuals who have acquired the appropriate level of technical knowledge through a recognised qualification and relevant practical experience. It also demonstrates a personal commitment to ongoing improvement through continuing professional development and adherence to a code of conduct. This booklet sets out the details of the new certification scheme. It also explains how it will affect you as a current member and what you need to do to acquire certified status. 2

3 What is certified membership? Certified Member (CMIRM) is the professional membership grade of IRM. It recognises individuals who have acquired the appropriate level of technical knowledge through a recognised qualification and relevant professional experience. Being certified also demonstrates a commitment to ongoing improvement through continuing professional development and adherence to IRM's code of conduct. To achieve certified status, members are required to demonstrate they meet a comprehensive set of criteria. Qualification: IRM's International Diploma in Risk Management or an equivalent qualification. Experience: As a minimum, Certified Members (CMIRM) must be able to demonstrate they have three years' professional experience in a risk role. Certified Fellows (CFIRM) must have at least eight years' experience. Continuing Professional Development: CMIRM's and CFIRM's must complete a minimum of 30 hours per year of CPD activities. Code of Conduct: All IRM members are bound by the highest standards of behaviour, integrity and ethics. Qualifications Code of conduct /ethics CERTIFIED MEMBERSHIP Professional experience Continuing professional development PROFESSIONAL STANDARDS 3

4 Benefits of certified membership Certification represents the highest calibre of risk professional, distinguishing you from others. Current and future employers immediately recognise that you have the technical competence, commitment to ongoing learning and integrity needed. Certified membership demonstrates your: Proven risk management knowledge Verified years of practical experience Commitment to personal development and growth Ability to uphold strict ethical standards Members who achieve the CMIRM and CFIRM designations will also be entitled to use the title Certified Risk Professional. Pathway to certified membership Student Graduate member (GradIRM) Certified Member (CMIRM) Certified Fellow (CFIRM) Certificate member (IRMCert) 4

5 How do I become a Certified Member? To become a Certified Member or Certified Fellow, you will need to meet the following criteria: Certified Member (CMIRM) Have held the designation MIRM for at least one year Have a minimum of 3 years professional risk management experience Evidence a minimum of 30 hours CPD activities achieved over the last 12 months Commit to abide by IRM s Code of Conduct Certified Fellow (CFIRM) Have held the designation FIRM for at least two years Have a minimum of 8 years professional risk management experience Evidence a minimum of 30 hours CPD activities achieved over the last 12 months Commit to adhere to IRM s Code of Conduct and new CPD scheme (commencing autumn 2015) You will also need to complete and submit the professional experience assessment form which can be found on our website. Transitional arrangements The following tables provide the detailed transition routes for current IRM members depending on their membership grade. If you have any specific questions about your own situation and would like to discuss your options, please contact our membership team by telephoning +44 (0) or membership@theirm.org 5

6 Transitional routes Membership grade Current position Next step/decision Action required Studying for a qualification Continue with your studies None. You will remain a student for the duration of your studies. Student Completed the International Certificate, but have not yet applied for membership Completed the International Diploma, but have not yet applied for membership Continue with your studies Chose not to continue with your studies Meet the criteria for Certified Member? Apply to become a Certificate member (IRMCert) and enrol on the International Diploma. Apply to become a Certificate member (IRMCert). If criteria met apply for CMIRM OR Apply to become a Graduate member (GradIRM) until Certified Member criteria met. Completed the Certificate in Risk Management in Financial Services, but not yet applied for membership Continue with your studies Choose not to continue with your studies Enrol on the International Diploma (You are exempt from Modules 1 and 2). Apply to become a Technical Specialist (SIRM). 6

7 Transitional routes Membership grade Current position Next step/decision Action required Certificant member (CIRM) Completed the International Certificate, and currently a Certificant member (CIRM) Enrolled on the International Diploma Completed the International Diploma Continue with your studies Do not continue with your studies Continue with your studies Meet the criteria for Certified Member? Do not yet meet the criteria for Certified Member? Enrol on the International Diploma. (You are exempt from modules 1 and 2). No action required. Your membership category will automatically be changed to Certificate member. Keep the designation - CIRM or elect to change designation to IRMCert. None. Apply to become a Certified Member (CMIRM). Apply to become a Graduate member (GradIRM) until criteria met. 7

8 Transitional routes Membership grade Current position Next step/decision Action required Specialist member (SIRM) Currently a Specialist member (SIRM) Complete the International Diploma Choose not to enrol on an IRM qualification Enrol on the International Diploma. You may be eligible for exemptions. Your membership category will automatically be changed to Technical Specialist. None. Your membership category will automatically be changed to Technical Specialist. Keep the designation SIRM. 8

9 Transitional routes Membership grade Current position Next step/decision Action required Member (MIRM) Hold the designation MIRM Meet the criteria for Certified Member? Do not yet meet the criteria for Certified Member? Apply to become a Certified Member (CMIRM). None. Retain MIRM designation and apply to become a Certified Member (CMIRM) at a later date. Fellow (FIRM) Hold the designation FIRM Meet the criteria for Certified Fellow? Do not yet meet the criteria for Certified Fellow? Apply to become a Certified Fellow (CFIRM). None. Retain FIRM designation and apply to become Certified (CFIRM) at a later date. 9

10 IRM Certification Scheme Q & A s Q: What s the point of IRM s certification? A: The number of jobs that involve managing risk has grown hugely in the last decade. These roles have a wide variety of job titles and responsibilities and can be found throughout the private, public and not for profit sectors across the world. Risk management is now a serious profession, but until now no comprehensive professional certification scheme has existed. IRM believes that to be acknowledged as a true profession, like medicine or law, we need to create a scheme which recognises and rewards high standards of professional competency, experience and ethics. Q: What difference will certification make? A: We think it will make a difference in at least three ways. Firstly, it will give risk practitioners a designation which recognises their achievements and provides an incentive to invest in their continuing professional development. It also gives those just starting their risk careers a clear path for progression. Secondly, it will benefit organisations and employers by helping them to distinguish the best from the rest. Employers who need to build their risk capacity will have a straightforward way to identify those who have the technical competence, experience and integrity that they need. Finally, it will raise awareness among business leaders and public policy makers that professional risk management helps organisations manage threats, make the most of opportunities and thereby become more sustainable. Q: How will Certification benefit me? A: Becoming a Certified Member will: Prove you are up to date and at the top of your game. It reinforces your IRM membership as a badge of professionalism and achievement. Open up opportunities for career advancement by providing employers and other stakeholders with a valuable benchmark and recruitment tool. Demonstrate your true value and provides you with greater recognition of your personal achievements. 10

11 Q: What do I need to do to become a Certified Member (CMIRM)? A: To become a Certified Member you need to be able to demonstrate the following: Have held the designation MIRM for at least one year Have a minimum of 3 years professional risk management experience Evidence a minimum of 30 hours CPD activities achieved over the last 12 months Commit to abide by IRM s Code of Conduct You will also need to complete and submit the professional experience assessment form which can be found on our website. Q: How do I become a Certified Fellow (CFIRM)? A: To become a Certified Fellow you need to be able to demonstrate the following: Have held the designation FIRM for at least two years Have a minimum of 8 years professional risk management experience Evidence a minimum of 30 hours CPD activities achieved over the last 12 months Commit to adhere to IRM s Code of Conduct and new CPD scheme (commencing autumn 2015) You will also need to complete and submit the professional experience assessment form which can be found on our website. Q: What CPD evidence do I need to supply for my application? A: You need to demonstrate that you have acquired a minimum of 30 hours CPD activity gained over the last 12 months. 11

12 Q: What will I get when I become a Certified Member? A: Certified Members will receive the designation CMIRM. Certified Fellows will receive the designation CFIRM. Both Members and Fellows will be entitled to describe themselves as a Certified Risk Professional. You will also receive a new certificate confirming your new membership status. Q: Do I need to pay a fee to become a Certified Member or Fellow? A: If you apply between 1 July and 30 September 2015 you will not have to pay an upgrade fee. Anyone upgrading after 30 September 2015 will have to pay a fee. Q: Will there be an annual charge to maintain my certification? A: Certified status is only available to IRM members, so you must continue to pay your annual membership subscription. You will not need to pay any additional fee. 12

13 Q: Will I have to apply to be re-certified every year? A: No. But you must pay your membership subscription and declare your commitment to uphold the code of conduct every year. You must also continue to meet the CPD requirement. Q: Will I lose my certification if I am unable to meet the annual CPD requirement? A: From 1 July 2016 IRM will be sampling members CPD records to ensure compliance with the scheme. If you are selected for sampling you will be asked to submit your CPD records. If we have questions or concerns about these records you may also be asked to take part in a telephone interview. IRM has a range of sanctions it can apply to members who fail to complete the CPD requirements. These include a reduction in membership grade or even removal from IRM s register of members. However, we recognise that some members may have extenuating circumstances such as illness, maternity leave, work events, family problems which result in their not being able to complete their CPD in any year. Members who find themselves in such circumstances should seek individual advice from the Institute. Q: What happens if I retire? A: If you retire from full-time employment and no longer wish to remain a Certified Member or Certified Fellow you can apply to become a retired member. You will benefit from a reduced membership subscription and your designation will revert to MIRM/FIRM. 13

14 Q: When will the certification scheme go live? A: 1 July 2015 Q: Can I become a Certified Member without taking the International Diploma? A: Yes. We know that many people have gained the relevant knowledge, skills and experience, but have not taken the International Diploma. On 1 October we will be launching the Assessment of Prior Learning (APL) route. This provides an alternative method to gain recognition for other routes of learning and professional knowledge. You will need to demonstrate that you have satisfied the same performance criteria given in the International Diploma syllabus, and done so to the required level and standard. In 2016 we will also launch a new Executive Route. This will be aimed at individuals who have a minimum of five years relevant experience and hold a senior strategic and decision-making risk role. Q: What happens if my membership lapses? A: If your membership lapses, then you will no longer have certified status. If you re-apply for membership at a later date you will need to demonstrate that you still meet the criteria for certification before CMIRM or CFIRM status is confirmed. 14

15 Next steps 1. Decide what you want to do. 2. Review the FAQs. 3. Visit for more information on certification and the application form. 4. Complete and submit your application to: Membership Institute of Risk Management 2nd Floor, Sackville House Fenchurch Street London, EC3M 6BN 15

16 Contact our membership team: T: +44 (0) E: W: Institute of Risk Management, 2nd Floor, Sackville House, Fenchurch Street, London, EC3M 6BM, United Kingdom