Accreditation
- ATHE regulated by Ofqual
- RQF Level 4 in the UK
- EQF Level 5 in Europe
- Exam facilitated by APMG
Exam
- Online
(with online invigilator) - 50 multiple-choice questions
- 75 minutes
Benefits for Individuals
- Learn operational risk concepts
- Demonstrate commitment and professional knowledge
Study Method
- Self-learning
- 130-150 hours of study required
- Study workbook provided
Fee
- £695 + VAT includes:-
- Study workbook and exam fee
- 1 year IOR Associate & Certificate membership
Benefits for Organisations
- Develop common understanding
- Independent certification
Study Topics
- Fundamentals of Operational Risk
- Management of Operational Risk
- Operational Risk Appetite
- Operational Risk Tools – Categorisation
- Operational Risk Tools – Risk and Control Self-Assessment
- Operational Risk Indicators
- Operational Risk Tools – Events and Losses
- Operational Risk Tools – Scenario Analysis
- The Regulatory Treatment of Operational Risk
Step 1: Register on the IOR website and complete the application form
The qualification is designed for individuals who have completed secondary education. Relevant work experience would be useful but is not essential. You must accept the Terms and Conditions and our Fair Treatment of your Data policy for the course prior to enrolment
Step 2: Pay the course fee to receive the Course Workbook
As part of the application, full payment of the course fee is required in advance. The course fee includes access to the student’s area, course workbook, one attempt at the exam, and 12 months of IOR Associate membership if you are not already a member. A number of payment options are available and these are described on the website at enrolment. All payments must be in Great British Pounds (GBP) and are subject to UK sales tax (VAT). Upon payment, you will receive login details to the student’s area where you can access the course workbook.
This course is subject to the IRM Qualification Terms and Conditions.
Step 3: Study the Course Workbook
You need to study all 9 Workbook chapters in detail, in order to be fully prepared for the exam. The countdown starts the moment you are provided with login details to the student’s area. You cannot attempt the exam within the first 3 months of commencing your studies.
You may refer to other materials, however, at the exam you will only be tested on the learning outcomes as outlined in the Syllabus.
You are expected to carry out the Workplace Reflection exercises, outlined in the Workbook, to further explore the principles explained in the Workbook and apply knowledge/ tools first hand, within a professional environment.
Self-motivation is important and to be able to commit sufficient time to the course, especially as the course (i.e. Workbook study, Workplace Reflection exercises and Learning Activities) is expected to take you at least 150 hours to complete.
Step 4: Book the exam slot
3 months after confirming your enrolment, you will receive the exam voucher and booking reference number with instructions on how to create your account and book your exam slot.
Your understanding of the topics covered in the Workbook is assessed through a multiple-choice question exam. Questions are based solely on the content of the Workbook with a focus on the learning outcome listed at the start of each chapter.
You can practice for the exam by going through the ‘Key Learning’ once you reach the end of a Workbook chapter.
You may decide to take the mock exam available in the student’s area and can gain familiarity with the online system prior to the formal exam sitting. This is recommended, as it will also confirm that the computer used for the exam is compatible with the system.
Step 5: Take the exam
You will have 75 minutes available to answer 50 multiple-choice questions. You will be monitored during the exam by a professional supervisor (online invigilator) from APMG – our official exam facilitator.
Before the exam session starts, you will be asked to grant the online invigilator permission to check the immediate home or office environment (e.g. desk area and surroundings) that you have chosen for the exam.
The exam can only be taken on a PC, laptop, MacBook Pro or iMAC that you have ‘Admin’ rights to, where you are allowed to install new software applications. You will need to download a software application in order for the invigilator to be able to observe you during the exam.
You will have the opportunity to test the link between the system and your IT system prior to the exam session. You will find detailed instructions when you log on to the portal.
Step 6: Learn the result of the exam
You will need to achieve the pass mark as set by IOR in order to be awarded the ‘Certificate in Operational Risk Management’. You will not be provided with the marks awarded for the exam but will be advised of a simple pass or fail.
Exam results will only be issued to you, even if you are sponsored by your employer.
Step 7: Certificate issue
You will receive notification of your score on your Candidate Portal account and if you have passed, an accredited electronic Certificate is issued in PDF format, 20 days after your exam results date.
| Description | Fee (fees exclude UK VAT) |
| Level 4 Certificate in Operational Risk Management (CORM) Price includes:
| £695.00* |
| Re-sits of the exam (1 re-sit allowed) | £150.00 |
| Course Fee (if re-enrolling after 2 failed attempts at the exam) | £350.00 |
* from the 1st March 2022
