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.
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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.
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.
What each unit actually teaches you to do
Introducing Operational Risks and Risk Management Real unit · Institute of Risk Management
What you'll be able to do
- Explore different types of risk within an organisational context.
- Investigate the causes of operational risks in a given organisational context.
- Understand the relationship between cause, event and impact within the Bow Tie Model framework.
- Examine the stages of the operational risk management lifecycle within an organisation.
- Investigate the benefits and limitations of different risk perceptions and their impact on the risk management practices of organisations.
- Examine the key components that constitute an effective operational risk management framework.
Operational Risk Assessment Methods Real unit · Institute of Risk Management
What you'll be able to do
- Explore scenario analysis as an assessment methodology of operational risk management, including its benefits and limitations.
- Examine the scenario analysis process, including identifying key risk factors, developing scenarios, and assessing potential impacts.
- Examine the biases that could arise in the scenario analysis process, and strategies to mitigate their influence.
- Investigate the use of quantitative modelling in operational risk management, including value at risk (VaR) and stress testing.
- Investigate the use of stress testing in establishing the hypothetical severity of operational risk exposures, and its role in risk management decision-making.
Operational Risk Categorisation and Event Data Real unit · Institute of Risk Management
What you'll be able to do
- Examine the use of taxonomies as a tool for effective risk categorisation within organisations.
- Investigate different risk categorisation models commonly used in operational risk management.
- Analyse the effectiveness of controls, processes and tools used in data categorisation for the management of operational risks.
- Examine the characteristics and effectiveness of the application of both internal and external event data in operational risk management.
- Analyse the use of event data collection processes within an organisation.
- Examine the applications of external loss data in the context of operational risk management.
Operational Risk Controls Real unit · Institute of Risk Management
What you'll be able to do
- Analyse the impact that inherent risks can have on the operations and performance of organisations.
- Investigate the effectiveness of controls implemented to mitigate operational risks within an organisation.
- Examine the residual risk exposure that organisations face after the implementation of risk mitigation strategies.
- Investigate the risk control and self-assessment process used by organisations to identify and manage operational risks.
- Examine operational risk action plans used by organisations following the completion of the risk and control self-assessment process.
Operational Risk Event Management Real unit · Institute of Risk Management
What you'll be able to do
- Examine the incident management lifecycle, including identification, containment, eradication, recovery, and lessons learned.
- Examine post-incident best practice, including root cause analysis, documentation, and communication.
- Investigate business continuity planning to improve organisational resilience, including risk assessment, business impact analysis, and recovery strategies.
- Examine the characteristics and potential impact of Black Swan Events on operational risk.
- Investigate the effectiveness of Environmental, Social and Governance (ESG) risk reviews on risk mitigation strategies within an organisation.
Operational Risk Management: Monitoring and Controls Real unit · Institute of Risk Management
What you'll be able to do
- Explore the key principles of effective operational risk management within an organisation.
- Investigate different risk control modes and their application in the mitigation of operational risks.
- Investigate various risk control types used to categorise the nature and characteristics of operational risks.
- Investigate the key controls that are essential in the mitigation of severe inherent risks within an organisation.
- Assess the risk control assurance processes employed by organisations to ensure the effectiveness of their risk management strategies.
Operational Risk Monitoring and Reporting Real unit · Institute of Risk Management
What you'll be able to do
- Examine the key risk indicators relevant to operational risks within an organisation.
- Examine the risk control indicators used to manage and mitigate operational risks.
- Examine the performance indicators used to assess the effectiveness of operational risk management.
- Investigate the operational risk reporting processes used by organisations, including frequency, content, and recipients.
Operational Risk Strategy and Risk Appetite Real unit · Institute of Risk Management
What you'll be able to do
- Analyse the links between an organisation's overall strategy and its operational risk appetite.
- Investigate the concepts of operational risk appetite, risk tolerance, and risk capacity within an organisational context.
- Analyse operational risk appetite statements, both qualitatively and quantitatively, to determine their meaning and implications.
- Examine the process of setting operational risk appetite, including stakeholder involvement and data analysis.
- Examine the process of monitoring and reporting on operational risk appetite, including escalation procedures for breaches.
Risk Culture Real unit · Institute of Risk Management
What you'll be able to do
- Establish the characteristics of a real and effective control in the management of risks within an organisation.
- Investigate the role and responsibilities of governing body committees in the effective management of operational risks.
- Examine the significance of policies, procedures and other documentation in the context of operational risk management.
- Examine the key elements that contribute to a positive and effective risk culture within an organisation.
- Investigate various risk culture assessment and monitoring methods used by organisations.
- Examine different ways and strategies for improving risk culture within an organisation.
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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
Establish and maintain an organisational culture of risk awareness (Commissioning, Procurement and Contracting)
- Standard
Set and instil the right culture throughout the organisation
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.
- 5 records
- 4 records
- 1 record
- 1 record
- 5 records
- 1 record
Showing 6 roles, drawn from 70 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
Operational Risk Analyst
This work can lead to managing a team as an operational risk manager, or building deep technical expertise as a specialist advisor.
See the whole journeyOne email to help you decide: the facts, what it teaches, the jobs it leads to and where to start free. With a link back here. Nothing else follows unless you confirm your address.
The credits, and who awards them
Level 4 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
Introducing Operational Risks and Risk ManagementOperational Risk Assessment MethodsOperational Risk Categorisation and Event DataOperational Risk ControlsOperational Risk Event ManagementOperational Risk Management: Monitoring and ControlsOperational Risk Monitoring and ReportingOperational Risk Strategy and Risk Appetite
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 Practical Builder · your make-it-real tutor Illustration - Draft the real one Create
You do “Operational Risk Assessment Methods” 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
“Operational Risk Categorisation and Event Data” 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
“Introducing Operational Risks and 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.
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 Introducing Operational Risks and Risk Management, one of this qualification's own units.
Applied to your work in any of these jobs
Learners will be introduced to fundamental concepts of operational risks and risk management. The unit covers different risk types, causes of operational risks, the Bow Tie Model framework, and the operational risk management lifecycle.
- 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 4 International Certificate in Operational Risk Management
9 units in this credential, in the order it lists them, awarded by Institute of Risk Management.
- Introducing Operational Risks and Risk Management
- Operational Risk Assessment Methods
- Operational Risk Categorisation and Event Data
- Operational Risk Controls
- Operational Risk Event Management
- Operational Risk Management: Monitoring and Controls
and 3 more in the full unit list below.
Free tools
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Learned on your own work, taught one-to-one.
Everything you just read, learned one-to-one on the job you already do. Your free first module is Future Fluency, so you can see how the teaching works before you pay for anything.
Start my free AI Fluency moduleNo card. See how this qualification maps onto your role and meet the tutors who’d teach it, free. The learning begins when you subscribe. It’s £70 a month, billed monthly. Cancel any time and billing stops.
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.