Qualifications

Our risk management qualifications give you the broad knowledge and the practical skills you need to manage risks.

Our qualifications include:

EXECUTIVE EDUCATION TRAINING COURSE IN RISK MANAGEMENT FOR INSURANCE AND REINSURANCE

– To provide a framework for understanding the fundamentals of risk management within the insurance and reinsurance industry.

– To explore real-world examples and learn techniques needed to identify, analyze, and respond to a variety of risks, both internal and external to companies within the industry.

– To understand the effects and rationale for designing an effective risk management strategy and alignment with the organization’s corporate governance principles and regulations.

– To learn how to develop Own Risk and Solvency Assessment (ORSA) reports for insurance companies along with recovery resolution plans.

The modules will be given online from 2:00 pm to 6:00 pm (Beirut Time)

Module 1: Principles of Risk and Risk Management | January 11 – 12, 2024
Module 2: Risk Management in Insurance | January 15 – 16, 2024
Module 3: Risk Strategy and Framework | January 23 & 26, 2024
Module 4: Quantitative Methods for Risk Management in Insurance | January 31, February 1 – 2, 2024
Module 5: ORSA – Stress Testing, Capital Solvency and Liquidity | February 7 – 8, 2024
Module 6: Risk Culture | February 15 – 16, 2024
Module7: Case Studies | February 20 – 21 – 22, 2024

Submission of applications: December 22, 2023, at the latest

INTERNATIONAL CERTIFICATE IN ENTERPRISE RISK MANAGEMENT

The International Certificate in Enterprise Risk Management can be pursued as a stand-alone certification, or as the first of two parts – along with the International Certificate in Financial Risk Management – under the International Diploma in Risk Management.

While there are no formal entry requirements, IRM-enrolled students are expected to hold basic knowledge around risk management tools and techniques.

The average duration for this certificate ranges between six and nine months. Students are expected to dedicate around 180-200 hours per module, enroll in both modules concurrently, and sit exams for both during the same period. The certificate’s two assessment sessions each year normally fall in June and December.

IRM examinations are online and computer-based, assessing students on their retention and acquisition of learning outcomes.

The assessment for module 1 comprises of one multiple choice exam weighing 40% of the final mark, and a 2,000 words essay assignment weighing 60% of the final mark.

The assessment for module 2 comprises of two 2,000 words essay assignments, each weighting 50% of the final mark.

The learning journey for this certificate consists of two modules. Module 1, “Principles of Risk and Risk Management”, learners will get an introduction to the principles and concepts of risk and risk management and its development through Enterprise Risk Management using international best practices. Learn why risk management principles and frameworks are the foundation of effective risk management implementation.

In Module 2, “Practice of Risk Management” learners will gain the skills and know-how to implement effective risk management to set and deliver on an organisation’s strategy, taking account of its value chain and core objectives. Explore and examine the different risk management approaches to embed risk management and assess the core competencies organisations require from risk professionals and individuals.

Unit	Topic	Learning outcomes
Unit 1	Risk management overview	General introduction to risk management concepts
Unit 2	Standards	Key risk management standards, including the most generally accepted ISO 31000 standard (ISO, 2018), as well as specialist risk management standards
Unit 3	Enterprise risk management (ERM)	Overview of ERM and its real-world applications
Unit 4	Risk assessment (part 1)	Risk assessement considerations, risk cause and effect, and risk classification systems
Unit 5	Risk assessment (part 2)	Risk analysis and risk evaluation
Unit 6	Risk response and treatment	The 4 Ts, risk control techniques, introduction to monitoring and review

Unit	Topic	Learning outcomes
Unit 1	Global business environment	The implications of the global business and risk environment on organizations
Unit 2	Risk strategy and framework	Risk architecture, strategy and protocols, risk management documentation and responsibilities
Unit 3	Risk culture	Organizational culture around risk appetite and tolerance
Unit 4	Risk and organizations	Corporate governance, international regulatory bodies, and supply chain management
Unit 5	Risk assurance and reporting	Control environment, internal auditing, and risk assurance and reporting
Unit 6	Case studies	Case studies in organizational risk management

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CERTIFICATE IN OPERATIONAL RISK MANAGEMENT

The CORM course content was designed to offer student insight into the fundamentals of operational risk management, as well as into the regulatory treatment of this discipline. Among other information areas, students will also be introduced to the basics of operational risk appetite and to risk management tools – namely categorization, risk and control self-assessment, events and losses, and scenario analysis.

The study topics for the certificate include:

1 Fundamentals of Operational Risk

2 Management of Operational Risk

3 Operational Risk Appetite

4 Operational Risk Tools – Categorization

5 Operational Risk Tools – Risk and Control Self-Assessment

6 Operational Risk Indicators

7 Operational Risk Tools – Events and Losses

8 Operational Risk Tools – Scenario Analysis

9 The Regulatory Treatment of Operational Risk

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DIGITAL RISK MANAGEMENT CERTIFICATE

The Digital Risk Management Certificate is a distance learning study program, aimed at introducing risk management professionals to the impact of digital disruption and transformation on the discipline – from challenges and opportunities to tools and techniques.

While there are no formal entry requirements, this certificate is set at an equivalent difficulty level to an undergraduate degree.

The average duration for this certificate ranges between six to nine months. Students are expected to dedicate around 180-200 of study hours to complete the learning track, in an online learning environment – covering discussion forums, module coaches, an online resource center, and live revision webinars.

Students are the administered a 90-minute computer-based, multiple-choice exam, assessing them on their retention and acquisition of learning outcomes. The certificate’s two examination sessions each year normally fall in June and December.

The Digital Risk Management Certificate curriculum was developed by IRM in partnership with the University of Warwick, addressing the disruptive nature of digital technologies on operational models, safety, and security – and at that, on operational risk management in the face of increasing cyber-attacks, data breaches, and online fraud. The course also takes students through the impact of emerging technologies like blockchain, AI (artificial intelligence), robotics, and the Internet of Things (IoT) on the risk environment and management tools. Risk appetite, ethics, legal frameworks, cybersecurity, and risk response in the context of digital and technological innovation are also key areas under the certificate’s learning track.

Unit	Topic	Learning outcomes
Unit 1	The digital revolution	Digital technology and the fourth industrial revolution, fintech, regtech and blockchain
Unit 2	Digital disruption and ethics	Risks, ethical and legal implications, and risk management approaches to digital innovation
Unit 3	Digital disruption risks	Digitization and cybersecurity risks
Unit 4	Digital risk management	Information asset protection and risk-based cyber security frameworks
Unit 5	Digital attack and defense	The role of risk management systems, compliance and cyber defence frameworks in cyber risk response
Unit 6	Change management	Governance, incident management and reporting

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INTERNATIONAL DIPLOMA IN RISK MANAGEMENT

The International Diploma in Risk Management is a continuation of the International Certificate in Financial Services Risk Management or the International Certificate in Enterprise Risk Management . While both former certificates cover Modules 1 and 2, pertaining to enterprise and financial risk management in theory and in practice, the diploma covers Modules 3 to 6, which explore risk management in the context of assessment and control; organizational oversight; and resilience, perception, and society.

The certificate is set at a difficulty level equivalent to a master’s degree. Students must have obtained either the International Certificate in Financial Services Risk Management or the International Certificate in Enterprise Risk Management, which cover modules 1 and 2, to pursue the International Diploma in Risk Management. Management by examination or APL is required before progressing to modules 3-6 of the diploma.

The average duration for this certificate ranges between six to nine months. Students are expected to dedicate around 180-200 of study hours per module and are assessed through online assignments. Students are entitled up to three years to complete the diploma modules. Learning outcomes for modules 3 to 5 are assessed through written assignments (two per module).

The final module is a graded risk management proposal and project, whereby students are assigned specialist pieces in their topic and field of choice and evaluated accordingly.

Unit	Topic	Learning outcomes
Unit A	Risk management overview	Developments, approaches, processes, standards, definitions, and categories under risk management
Unit B	Risk identification	Risk contexts and identification methods and techniques
Unit C	Qualitative Analysis	Risk prioritization and qualitative analysis methods and techniques
Unit D	Quantitative analysis	” Quantitative analysis methods and techniques, probability and impact, risk modelling and risk evaluation.”
Unit E	Risk control (part 1)	Risk control methods and techniques and risk financing.
Unit F	Risk control (part 2)	“Insurance, monitoring, testing and resourcing risk controls and project risk management”

Unit	Topic	Learning outcomes
Unit A	Governance issues	Corporate governance, risk oversight, audit, regulation and compliance
Unit B	Strategic planning and leadership	Strategic planning, leadership, roles and responsibilities and stakeholder expectation management
Unit C	Risk information and reporting	Risk reporting, roles and responsibilities in respect of reporting, data, analytics and communications and re-evaluation after an event
Unit D	Decision making	Risk-based decisionmaking analysis and techniques, and problem solving
Unit E	Risk management performance and training	Risk management skills development and training, and conflict management
Unit F	Culture and ethics	“Organizational culture, corporate social responsibility, and conduct and reputation risk”

Unit	Topic	Learning outcomes
Unit A	Resilience	Organizational and social resilience
Unit B	Continuity management	Business continuity management and business impact analysis
Unit C	Crisis management	Crisis management and contingency planning, crisis communication
Unit D	Perception and communication	The psychology of risk perception, attitude and behavior
Unit E	Societal risk	Societal risk principles, management, perception, and resourcing
Unit F	Emerging and future risks	Core attributes and nature of global risks, and black swan predictability

Unit	Topic	Learning outcomes
Unit A	Research	Research and investigation processes
Unit B	Literature review	Introduction and use of literature review in research
Unit C	Methodology	Research and methodologies deployed into risk assessment studies
Unit D	Proposal development	Introduction to prosposal content development and structuring
Unit E	Ethics	Ethics and permissions in research project management
Unit F	Presentation	Regulations, protocols and conventions for project writing and presentation

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EXECUTIVE EDUCATION TRAINING COURSE IN RISK MANAGEMENT FOR INSURANCE AND REINSURANCE

INTERNATIONAL CERTIFICATE IN ENTERPRISE RISK MANAGEMENT

CERTIFICATE IN OPERATIONAL RISK MANAGEMENT

DIGITAL RISK MANAGEMENT CERTIFICATE

INTERNATIONAL DIPLOMA IN RISK MANAGEMENT

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