IRM has introduced itself in India through GLECO International

February, 2020

IRM has introduced itself in India through GLECO International

In a bid to create pathway for professionals to become Chief Risk Officers, get large companies, SMEs and startups risk-ready and develop risk-thinking leaders across sectors, the Institute of Risk Management (IRM, UK), has introduced its 5-Level Global ERM Qualifications (with globally recognised designations) in India . With a presence in 143 countries IRM has introduced itself in India through GLECO International – the exclusive affiliate.

With intense global competition and rapid growth Indian firms are forced to identify & incorporate the importance of enterprise risk management. Institute of Risk Management(IRM, UK) prepares entrepreneurs to manage uncertain events in their businesses.

The world is facing an increasing number of challenges which are dynamic and complex yet interconnected. According to various research articles and surveys, 42% of startups in India are failing because of misread market demand; 92% of family businesses in India don’t have a succession plan; 76% Indian companies faced a cyber-attack in 2018-19 and approx. 71,000 crores is the reported amount of bank frauds in India last year. Across the globe, especially in developed economies, risk management has evolved and gained significant importance in how leaders run their businesses. Historically, the concept of risk management has always been associated with finance, compliance and insurance but the survival of businesses in today’s complex environment requires a robust and holistic approach towards Enterprise Risk Management (ERM).

IRM in India has partnered with 360 examination centers across India. IRM’s global qualifications equip individuals with complex problem solving, effective decision making and critical thinking skills and knowledge needed to succeed in a risky world. IRM students come from varied backgrounds like family businesses, budding entrepreneurs, working professionals across various sectors, risk management teams of mid and large companies, SME business owners and many others.

Hersh Shah | CEO, Gleco International

Speaking about the IRM India Affiliate, Hersh Shah (CEO), who is a Chartered Accountant, an alumnus of IIM Bangalore and Technical Specialist of the IRM (SIRM) said “Indian companies across sectors have started to gradually migrate from risk management compliance to risk based decision making that is resulting in enhanced strategic value for sustainable business growth. The IRM’s leading Global Qualifications in Enterprise Risk Management will create a parallel career pathway for students to pursue the 5 Levels alongside their undergraduate or postgraduate studies and more importantly provide a platform for companies across sectors to recruit qualified business risk professionals. Having taught business risk management in my personal capacity since the age of 22, I believe that risk management will empower students, entrepreneurs and professionals with the much-needed acumen to navigate their way towards success using risk-based decision making.”

Indian companies across sectors have started to gradually migrate from risk management compliance to risk based decision making that is resulting in enhanced strategic value for sustainable business growth. With much emphasis from Indian regulators, business leaders are embedding risk culture in the DNA of their companies and the role of Chief Risk Officer is fast evolving. The application of risk management today is across sectors and industries including family businesses, SMEs and startups.

Globally, the IRM has over 10,000+ members who work in many roles, in all industries and across the public, private and not-for-profit sectors around the world. In India, some of the IRM members are working at Deloitte, Aditya Birla Group, Barclays, Edelweiss, Swiss Re, India First Insurance, JLT to name a few.

IRM India Affiliate has partnered with various companies who are recruiting IRM Level 1 Qualified students. IRM’s Level 1 Qualification, a 100% classroom-based simulation game driven program, is delivered at IRM partner Universities / Colleges and also across cities at IRM partner training centers every month. Candidates can pursue the Level 2 and Level 3 qualifications online through live webinars, industry module mentors and study materials. The IRM qualifications provide you with globally recognised designations where Level 5 grants you a Certified Fellow (CFIRM) status.

About Institute of Risk Management

The IRM is the leading professional body for Enterprise Risk Management. The IRM helps build excellence in risk management to improve the way organisations work. IRM provides globally recognised qualifications and training, publish research and thought leadership and set professional standards, which define the knowledge, skills and behaviours today's risk professionals need to meet the demands of an increasingly complex and challenging business environment. The IRM is independent and not-for-profit.

GLECO, the IRM India Affiliate stands for Global Education Consultants - a British ancestral name which stands for openness, loyalty and efficiency. IRM UK - 1986 founded, 20k + students trained globally, 10k+ professional members, 360+ exam centers in India, 5 - Level Globally recognised qualifications.

IRM in India has partnered with institutions like Bennett University and Jai Hind College and has delivered programs for various corporate clients.

Globally, IRM works with Cambridge University on many research projects / thought leaderships and also Warwick University which has jointly launched a certification in Digital Risk Management with exams in June and November.

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