IRM India Affiliate and NMIMS Centre for International Studies launch Professional Programme in Enterprise Risk Management (ERM)

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IRM & NMIMS

Mumbai, 07 December 2021: 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 program 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-recognized professional designations from IRM, the world leader for ERM qualifications across 140+ countries. 

Students and professionals from across India can register for the dual certification program and earn globally-recognized designations through IRM’s examinations 

Entry into the ERM Programme is not restricted to NMIMS students; the program 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 program, 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.

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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 organizations, 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 organizations 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, recognized 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.

More information about the Professional Programme in ERM and enrollment details are available at: https://cis.nmims.edu/professional-programme-in-enterprise-risk-management

About IRM India Affiliate:

The Institute of Risk Management is the world’s leading professional body for enterprise risk management qualifications and memberships (Level 1 to 5).  IRM publishes research and guidance, and also professional standards across the world. Our members (including members of the Institute of Operational Risk) work in all industries, in all risk disciplines, and across the public, private and not-for-profit sectors in more than 140 countries. With 360 exam centers in India, candidates can earn the IRM designations by pursuing the global examinations through IRM India Affiliate. IRM in India has been working with apex bodies and organizations like the AICTE (Ministry of Education), Invest India, Cipla, ICICI Lombard, Deloitte, JB Boda Group, NIMSME (Ministry of MSME), Bombay Chartered Accountants’ Society, and CNBC-TV18.

Website: www.theirmindia.org 

About NMIMS CIS: 

Established in 2006 as “SVKM’s Institute of International Studies” and with a legacy of over 15 years, the Centre for International Studies (CIS) has created a niche for itself by providing a conducive learning environment, which is very important for the conduct of international programs. At CIS, students receive a quality education in state-of-the-art, well-equipped classrooms with new teaching techniques and the latest e-learning environment of global standards. A talent base of teaching faculty that is committed, enthusiastic, and professionally accredited, encourages the students to develop and express their creative and competitive talents and therefore foster holistic development. CIS, in its truest essence, is a “happy learning place”.

Website: cis.nmims.edu

About SVKM’s NMIMS University:

Established in 1981, NMIMS is today recognized as a globally reputed university with strong industry linkages. It offers multiple disciplines across 8 campuses that consist of 17 specialized schools, more than 17000 students, and about 750 full-time faculty members, 10 faculty members with Fulbright Scholarship and Humboldt International Scholarship for post-doctoral researchers. It is known for its consistent academic quality and research-focused approach towards holistic education. SVKM’s NMIMS has been granted Category-I Deemed University status by Graded Autonomy Regulation 2018 by MHRD/UGC and NMIMS Mumbai Campus is NAAC accredited with a CGPA of 3.59. 

Website: www.nmims.edu

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