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Institute of Risk Management (IRM India) (headquartered in the UK) is the world's leading professional body for Enterprise Risk Management Qualifications from Level 1 to Level 5. IRM has been driving excellence for over 35 years with students pursuing the qualifications and professional examinations across 143 countries. The IRM has been recognized as the preferred thought leader in ERM by industries across the world. The institute’s 5-Level professional qualifications, with designations at each stage after Level 2, are globally recognized across industries and can be pursued simultaneously by students and working professionals. With the India chapter, students can now appear for all IRM examinations and qualifications through the 360 exam centers.
Table of content
IRM India Highlights
|
Established | Institute Type |
1986 | Not-for-Profit |
|
Duration |
Level 1: 2 months Level 2: 6-9 months Level 3: 12-18 months Level 4 & 5: Not applicable |
|
Aptitude Test |
RMAT |
|
Exam Frequency |
Level 1: 4 times a year (Feb/ May/ Aug/ Nov) Level 2: Twice a year (June & November) Level 3: Enroll anytime, Project-based assignments Level 4 & 5: No examination, Application-based |
|
Examination Format |
Level 1: Online, Computer-based multiple-choice questions (take the exam at the comfort of your home/office through a secured monitoring platform) Level 2: Computer-based at any of the 360 centers Level 3: Project and assignment based submissions Level 4 & 5: No examination, Application-based |
|
Exam Level |
International Professional exams to become Certified Fellow of IRM in Enterprise Risk Management (CFIRM) |
|
Conducting body |
IRM Global |
|
Exam Flexibility |
Opt-out at any stage after Level 2 with a designation; Opt-in at any time based on preparedness for the Next Level (not mandatory to complete all Levels) |
|
Exam Centers |
360 centers across India |
|
Top Recruiters |
Edelweiss, Aditya Birla Group, Larsen & Toubro, Deloitte, PwC, EY, Experian, Swiss Re, Barclays, AIG, Morgan Stanley, Willis Towers Watson, India First Insurance |
|
Official Website |
https://www.theirmindia.org/ |
|
Admission Helpdesk |
+91-7977950966 |
Why pursue IRM qualifications?
- Covers all categories of risks beyond just financial risk or insurance risk, making it relevant for students from marketing, technology, law, business, management, engineering, entrepreneurship and all backgrounds.
- Pursue alongside your graduation/ post-graduation as per your comfort with blended learning options available through IRM's blended learning providers.
- Huge demand for risk-intelligent professionals in every sector and department.
- Qualified risk professionals can command their premium through higher salaries.
- Excellent scope for career advancement with a pathway to becoming a Chief Risk Officer (CRO) through a Certified Fellow of IRM.
- Global recognition with professional designations awarded at each stage after Level 2.
- Join a global community of leaders across 143 countries who are IRM qualified.
IRM India Qualifications
IRM India offers courses from Level 1 to Level 5 in Enterprise Risk Management. Tabulated below are the details for the same:
|
Course |
Details |
|---|---|
|
Level 1 Enterprise Risk Management |
Eligibility for Students Eligibility: 10+2 from a recognized board Age: Minimum 18 years of age Work Experience: No experience or up to a maximum of 24 months experience Duration: 2 Months Eligibility for Working Professionals Eligibility: Graduation from a recognized university Age: Minimum 21 years of age Work Experience: Minimum 24 months’ full-time work experience in any field/sector (except risk management) Exams: Exams conducted four times in a year (Feb /May /Aug /Nov) (70% pass rate generally) Modules: 3 units Study time: 60 hours Free live study sessions by IRM: 16 hours of live study support sessions |
|
Level 2 IRMCert |
Eligibility: IRM Level 1 qualified or 2-3 years of experience in risk management International certification Duration: 6-9 Months Exams: June & November exams (Choose from 360 exam centers across India, 60% pass rate generally) Modules: 2 modules in each option Study time: 180-200 hours per module Free live study sessions by IRM: 6 hours of live webinars |
|
Level 3 Grade IRM |
Eligibility: Graduation/post-graduation & IRM Level 2 qualified Duration: 12-18 Months Exams: Enroll anytime, Project-based assignments Modules: 4 modules Study time: 180-200 hours per module |
|
Level 4 |
Eligibility: IRM Level 3 with minimum three years experience in a risk role Duration: Not applicable Exams: No examination, Application-based |
|
Level 5 |
Eligibility: IRM Level 4 Duration: Not applicable Exams: No examination, Application-based |
|
Digital Risk Management, Supply Chain Risk Management |
Eligibility: At least graduation or IRM Level 2 Duration: 6-9 Months |
Check: IRM Global Qualifications and Fees
IRM India Enrolment
Level 1 Enrolment
- Visit the official website of IRM and select your preferred examination month under the Enrolment page.
- Complete the registration form including payment of fees and access the following on the registration completion page:
- Download the study materials
- Complete the Risk Management Aptitude Test (RMAT)
- Register for the study support sessions applicable to the selected examination
- Candidates will also receive an email with the above instructions after payment of the fees.
Level 2 Enrolment
- The candidates can take assistance from IRM’s student support team who can help to plan your examination month and study options
- Confirm your application by filling up the admission form and upload the same on the website.
IRM Qualified Students/ Professionals working in the Industry
IRM is a not-for-profit professional body headquartered in the UK. It is run by professional members who are IRM qualified. The students of IRM has been working at reputed companies across the globe including companies like Edelweiss, Aditya Birla Group, Larsen & Toubro, Deloitte, PwC, EY, Experian, Swiss Re, Barclays, AIG, Morgan Stanley, Willis Towers Watson, India First Insurance, GlaxoSmithKline, Acies Consulting, Dr. Reddy's Laboratories, HSBC, Mastercard, Lloyds, Genting, MetLife, Adnoc, Alvarez & Marsal and others.
Average Salary offered to IRM Students
| Stage | Average Salary |
| Early Career (Graduate + IRM Level 1 or 2) | INR 5.8 lakhs to INR 9 lakhs |
| Mid-Career (PG + IRM Level 1 or 2) | INR 10 lakhs to INR 18 lakhs |
| Experienced (Level 3 + Work Experience) | INR 19 lakhs to INR 26 lakhs |
| Senior (Level 4 + Work Experience) | INR 27 lakhs to INR 28 lakhs |
| Chief Risk Officer / Risk Head | INR 75 lakhs and upwards |
Note: The average salary based on external data. IRM does not guarantee either placements or salary as it is a professional body.
Career Prospects: As an IRM qualified risk-intelligent professional you can work across sectors in any function. IRM Qualified professionals have been working across the globe for:
- Big 4 consulting firms
- Risk-based assurance in consulting and auditing firms
- Strategic risk management at consulting firms
- Credit rating agencies in risk management teams
- Start-ups, family-owned businesses, SMEs
- Rating agencies as company risk analysts
- Banks/NBFCs/FI as credit or risk professionals
- Equity markets as risk research experts
- Risk consulting and advisory services
- Industry risk management teams in any sector
- Due diligence in investment banking
IRM India Course & Fee Details
|
Course Name |
Fee |
|---|---|
|
Level 1 – Enterprise Risk Management |
₹ 29,500 |
|
Level 2 – Designation : IRMCert |
₹ 1,83,340 |
|
Level 3 – Designation : GradIRM |
₹ 3,60,500 |
|
Level 4 – Designation : CMIRM |
Joining fee: ₹ 39,000 Annual membership fee: ₹ 25,000 |
|
Level 5 – Designation : CFIRM |
₹ 8,500 |
| Digital Risk Management Certificate | INR 1,20,922 including 18% GST on registration fees |
| Supply Chain Risk Management Certificate | INR 1,20,922 including 18% GST on registration fees |
IRM India FAQs
Ques. What is the designation one gets after qualifying a level?
Ans. The following is the designation students will get after qualifying the levels of IRM:
| Course Level | Designation |
|---|---|
| Level 1 | None |
| Level 2 | IRMCert |
| Level 3 | GradIRM |
| Level 4 | CMIRM |
| Level 5 | CFIRM |
Ques. Can I pursue all three levels alongside my graduation from the Institute of Risk Management?
Ans. You can pursue Level 1 and Level 2 alongside graduation. It is highly recommended that candidates take the Level 3 Examination after completing their graduation.
Ques. What are the options available for fee payment at the Institute of Risk Management?
Ans. Candidates can pay upfront or opt for payment in EMI over a duration, either through IRM’s education financing partner (Eduvanz) or independently.
Ques. What is the validity of IRM’s Qualifications?
Ans. IRM’s Qualifications (Level 1 to Level 5, DRM, SCRM) is valid for a lifetime.
Ques. Will there be negative marking for the Level 1 and Level 2 Examination?
Ans. No, there will be no negative marking for any questions.
Ques. Why should I study ERM at the Institute of Risk Management?
Ans. The following are the key benefits of studying ERM at IRM:
- Global qualifications with designations delivered in 143 countries
- Global Community of Chief Risk Officers and Risk Professionals
- Recognized by the industry for 30 years across all sectors
- Covers over 40% of the World Economic Forum’s Growing Skills Index
- World’s leading body run by professional members
- No additional tuition required for IRM examinations
