How you’d get this certificate
- Zavmo teaches you. You learn the units one-to-one with an AI tutor, on your own work.
- You register with an approved centre. That is a college, training provider or employer Institute of Risk Management has approved to offer this qualification. Zavmo is not an approved centre, so you register with them, not with us.
- The centre assesses, and Institute of Risk Management awards. A qualified assessor at the centre judges your evidence, and the certificate comes from Institute of Risk Management.
This Level 5 certificate from IRM develops knowledge of financial services risk management. It covers risk culture, corporate governance, regulation, and operational and financial risk. It is intended for individuals working in, or aspiring to work in, the financial services sector.
These are the units Institute of Risk Management registers against this qualification. It is a catalogue, not a syllabus. Which of them you take depends on the combination the qualification requires, and that is set by the awarding body rather than by us. Every unit here is regulated. Zavmo teaches towards them on your own work, and work done here is recognised as prior learning under the agreements we hold.
Zavmo is not an awarding body, is not an approved centre, and is not affiliated with Institute of Risk Management. It does the teaching and the mapping. Institute of Risk Management sets this qualification and awards it, and a qualified human assessor makes the assessment decision.
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What each unit actually teaches you to do
Corporate governance and risk assurance Real unit · Institute of Risk Management
What you'll be able to do
- Examine different corporate governance models of organisations
- Understand the impact that board structures have on organisations' approaches to risk management
- Examine the regulatory influences on risk management of organisations
- Examine the roles and responsibilities of the board for risk management
- Understand the role and purpose of internal and external assurance on the control of risks in organisations
Financial Risk Real unit · Institute of Risk Management
What you'll be able to do
- Examine the approaches used to manage liquidity risk in the financial services sector
- Examine the approaches used to quantify liquidity risk in the financial services sector
- Examine the approaches used to manage credit risk in the financial services sector
- Examine the approaches used to quantify credit risk in the financial services sector
- Examine the approaches used to manage market risk in the financial services sector
- Examine the approaches used to quantify market risk in the financial services sector
- Examine the approaches used in Value at Risk calculation
- Understand the limitations around internal models for risk management
- Understand the regulatory requirements around internal models for risk management
- Examine the approaches used to manage insurance risk
- Examine the approaches used to quantify insurance risk
Introducing Operational Risk in the Financial Services Sector Real unit · Institute of Risk Management
What you'll be able to do
- Understand the influence of operational risk on the financial services sector
- Understand the regulatory requirements for the management of operational risk in the financial services sector
- Understand the assessment methods used in managing operational risk in the financial services sector
- Understand the quantification of operational risk in the financial services sector
- Understand the role of loss data consortiums in the management of operational risk
Key concepts in risk management Real unit · Institute of Risk Management
What you'll be able to do
- Compare and contrast the core concepts of risk and risk management, utilising a range of different recognised approaches and perspectives.
- Examine the key developments and milestones in the evolution of risk management as a discipline and practice.
- Understand the significant influence of enterprise risk management (ERM) on an organisation's strategic planning, governance structures, and overall resilience to potential disruptions.
- Review the approaches to and integrations of different risk management specialisms (e.g., financial risk, operational risk, compliance risk) within an organisation's broader risk management framework.
- Examine different international risk management standards and approaches, such as ISO 31000 and COSO, and their application in various organisational settings.
Managing, monitoring and reporting risks Real unit · Institute of Risk Management
What you'll be able to do
- Establish the criteria that define a real and effective control in the context of managing risks within an organisation.
- Understand how to evaluate the effectiveness of existing controls in order to determine the extent to which risks are being adequately managed.
- Understand the processes and techniques involved in monitoring risks to ensure they remain within acceptable levels.
- Distinguish between the specific risks, controls, and underlying processes that require review and improvement within an organisation's risk management framework.
- Examine the methods and channels used for reporting risks to both internal and external stakeholders, ensuring transparency and accountability.
- Understand how different risk decision-making styles within an organisation are linked to its overall risk appetite, risk tolerance levels, and prevailing risk culture.
Regulation in Financial Services Real unit · Institute of Risk Management
What you'll be able to do
- Investigate the nature of financial services regulation
- Investigate the purpose of financial services regulation
- Investigate the general structure of financial services regulation
- Examine the financial services regulatory framework
- Examine the responsibilities of regulators within the financial services sector
- Examine the key regulations in the financial services sector
- Examine the key regulators in the financial services sector
- Investigate the application of the three pillars to the financial services sector
- Examine the application of global regulation to the financial services
Resilience Real unit · Institute of Risk Management
What you'll be able to do
- Examine the role of risk management in achieving and maintaining organisational resilience.
- Examine the potential disruptors that an organisation may face.
- Understand the role of risk management in supporting agility and innovation within organisations.
- Determine the most appropriate risk management tools to test the resilience of an organisation.
- Understand the purpose and content of organisations' viability statements.
Risk context, objectives and assessment Real unit · Institute of Risk Management
What you'll be able to do
- Examine an organisation's internal and external contexts, including its strategic objectives and operating environment.
- Understand the importance of framing objectives and key performance indicators (KPIs) in relation to risk management.
- Examine the risks faced by an organisation using risk articulation and risk identification techniques.
- Establish the significance of the identified risks, linked to risk appetite and tolerance, using a variety of techniques.
Risk culture and appetite Real unit · Institute of Risk Management
What you'll be able to do
- Understand the value of risk culture for organisations
- Examine the influence of people on the risk culture of an organisation
- Examine the risk culture model of an organisation
- Understand how to measure a successful risk culture of an organisation
- Examine the risk appetite, risk tolerance and capacity of an organisation
- Examine risk appetite statements of organisations
- Examine the risk appetite criteria and trigger points of an organisation and how these are monitored
Specific Operational Risks in the Financial Services Sector Real unit · Institute of Risk Management
What you'll be able to do
- Investigate cyber security risks in the financial service sector
- Investigate data security risks in the financial service sector
- Examine outsourcing risk in the financial services sector
- Examine third-party risk in the financial services sector
- Investigate operational resilience risk in the financial services sector
- Investigate customer risk in the financial services sector
- Investigate consumer risk in the financial services sector
- Understand other material risks in the banking sector
- Understand other material risks in the insurance sectors
Strategic planning for Enterprise Risk Management Real unit · Institute of Risk Management
What you'll be able to do
- Examine the fundamental principles and key attributes that underpin effective risk management practices within organisations.
- Develop a comprehensive and effective risk management strategy tailored to the specific needs and objectives of an organisation.
- Understand the various stages and components of risk management processes, from identification and assessment to mitigation and monitoring.
Sustainability Real unit · Institute of Risk Management
What you'll be able to do
- Understand the role of risk management in ensuring organisational sustainability.
- Examine the evolution of sustainability as a business concept.
- Understand the role of risk management in enabling the sustainability of an organisation's operations and strategy.
- Understand the impact of climate change risk management on an organisation and its stakeholders.
The national standards these units are built against
What the job actually needs, in the words employers and awarding bodies already use for the work itself.
- Standard
Assess business strategy and commercial risks that a Training and Competence Scheme must address
- Standard
Assess risks for a financial services organisation
- Standard
Assess, Analyse and Evaluate Risks
- Standard
Contribute to information security related business resilience activities
- Standard
Determine the organisation’s approach to risk
- Standard
Develop a risk profile for a financial services organisation
- Standard
Develop and maintain relationships relevant to risk management in a financial services organisation
- Standard
Ensure an effective risk architecture is in place for a financial services organisation
- Standard
Establish and maintain transparent and formal structures and policies in relation to risk and internal controls
- Standard
Establish risk appetite and policy for a financial services organisation
- Standard
Evaluate the effectiveness of risk management controls for a financial services organisation
- Standard
Gather and Communicate Information About Anti-Money Laundering and Countering Terrorist Financing Requirements in Your Organisation
- Standard
Identify and assess the risks inherent in the organisation’s business model
- Standard
Identify risk actions to manage risk for a financial services organisation
- Standard
Identify risks for a financial services organisation
- Standard
Identify, analyse and assess risk
- Standard
Manage information security related business resilience activities
- Standard
Manage risks relating to data and information in a health context
Showing 18 of 26 standards these units map to.
The jobs these credits are mapped to
A qualification is never a dead end here. Each of these is a job record this qualification is a mapped route into.
- 2 records
- 1 record
- 3 records
- 1 record
- 2 records
- 1 record
Showing 6 roles, drawn from 310 job records mapped to this qualification. Near-identical records are folded together, and each row says how many it stands for.
Where this can lead
Resilience Manager
This work can lead to broader risk management roles, senior resilience roles overseeing a wider function, or director-level roles setting resilience strategy across an organisation.
See the whole journeyThe credits, and who awards them
Level 5 credits are regulated, and they are awarded by Institute of Risk Management rather than by Zavmo. They don’t vanish when a subscription ends or a website closes. They travel to any employer, and Zavmo keeps the map of what you have covered and what is next.
What you would be collecting
Corporate governance and risk assuranceFinancial RiskIntroducing Operational Risk in the Financial Services SectorKey concepts in risk managementManaging, monitoring and reporting risksRegulation in Financial ServicesResilienceRisk context, objectives and assessment
Each one is a real unit registered against this qualification.
How you’d practise it
You don’t watch this. You do it.
You are not assessed on remembering this. You are assessed on applying it, analysing it, evaluating it and producing something. So that is what the practice is: projects, role play and your own live cases, with a tutor in the room.
The Coach · your practice partner Illustration - Pitch it Evaluate
“Strategic planning for Enterprise Risk Management” gets practised as a pitch. You make the case out loud, Zavmo asks the question the room would ask, and you make it again.
- Draft the real one Create
You do “Financial Risk” on a real document of your own. Zavmo works on the draft you have to send anyway, so the coursework and the job are the same piece of work.
- Map a live decision Analyse
“Managing, monitoring and reporting risks” runs on a decision you are facing now. Zavmo maps it with you and shows what the second-order effect looks like before you find out the slow way.
- Lead it Apply
“Key concepts in risk management” is practised on the team you actually have. You talk through the call you are about to make, and Zavmo makes you say it the way you would say it to them.
What you leave holding
The standards this credential builds, in the shape the product keeps them
Nothing here is marked learned. There is no learner on a public page, so the map shows what the qualification covers rather than what anybody has done.
- Assess business strategy and commercial risks that a Training and Competence Scheme must address
- Assess risks for a financial services organisation
- Assess, Analyse and Evaluate Risks
- Contribute to information security related business resilience activities
- Determine the organisation’s approach to risk
- Develop a risk profile for a financial services organisation
- Develop and maintain relationships relevant to risk management in a financial services organisation
- Ensure an effective risk architecture is in place for a financial services organisation
How you would learn this
One to one, on the work you already do
A tutor sets the task against your own job and marks the reasoning, at your pace. There is no cohort to fall behind.
A lesson from Corporate governance and risk assurance, one of this qualification's own units.
Applied to your work in any of these jobs
Learners will examine various corporate governance models and their impact on organisational risk management. The unit covers board structures, regulatory influences, and the roles and responsibilities of boards in overseeing risk assurance.
- 1 Remember
- 2 Understand
- 3 Apply
- 4 Analyse
- 5 Evaluate
- 6 Create
It is £70 a month, billed monthly. Your free first module is Future Fluency, and you can cancel any time. Teaching towards this qualification begins when you subscribe.
Built for IRM's Level 5 International Certificate in Financial Services Risk Management
12 units in this credential, in the order it lists them, awarded by Institute of Risk Management.
- Corporate governance and risk assurance
- Financial Risk
- Introducing Operational Risk in the Financial Services Sector
- Key concepts in risk management
- Managing, monitoring and reporting risks
- Regulation in Financial Services
and 6 more in the full unit list below.
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The title, level, credits, guided learning hours and unit learning outcomes on this page are taken from the Ofqual Register of Regulated Qualifications. Contains public sector information licensed under the Open Government Licence v3.0. Where this data comes from.