- What is CPD?
- Why CPD?
- Who should undertake CPD?
- How can you achieve CPD?
- How can CPD be recorded? The CPD Log
- What are the CPD elements?
- Training
- Self-directed Learning
- Development of Others
- What training is accredited for CPD?
- Can you apply for a Concession?
- Training
- Self-directed learning
- Development of Others
- Activities not appropriate for CPD
What is CPD?
Continuing Professional Development (CPD) can be defined as: “The systematic maintenance, improvement and broadening of knowledge, experience and skills, and the development of personal qualities helpful in the execution of professional duties throughout a career.”
In common with most other comparable institutes, the IOR maintains its own CPD policy, and makes the assumption that time spent in relevant study or other recommended activity is an indication of increasing expertise.
Why CPD?
All professional disciplines face a fast changing environment, and especially Operational Risk as the discipline is so relatively new. This environment means that members must continuously strive to keep their skills and knowledge as up to date as possible.
Work experience alone is not enough; CPD is an essential further dimension by which members can ensure they are maintaining, strengthening and further developing their professional skills and abilities.
Who should undertake CPD?
CPD is advised for all members, regardless of status within the Institute, and regardless of their experience. We make no distinction in saying to all members that we expect everyone to take responsibility for their own continuous development in this field, within our guidelines. The Institute has attempted to make this policy as simple and universal as possible, and with as few exceptions as possible.
How can you achieve CPD?
The IOR defines CPD in terms of hours of accepted CPD training. In any one year, each member of the Institute is advised to complete 30 hours of training.
How can CPD be recorded? The CPD Log
The CPD log is available to download from the following link CPD Log
Each member should account for all of this training in the IOR CPD Log. This log should be available for inspection, and individual logs will be called in for inspection throughout the year. Members may then if necessary be prepared to explain the relevance of the CPD recorded to their personal professional development.
If, at the discretion of the Exco of the IOR, their CPD is judged insufficient, they may be asked to undertake further work, and will be given advice and assistance on finding suitable opportunities. The IOR expects such cases to be exceptional.
Every member should be in addition prepared to attest to the satisfactory completion of the previous years CPD when renewing their membership subscription.
To allow for inspection, members should keep their logs, and any certificates of relevant training completion they are awarded for 6 years.
An example is provided as the appendix to this policy.
What are the CPD elements?
CPD is divided into 3 categories, which should add up to at least 30 hours, and within that total each member should complete at least an hour of work per year under each category. These categories are:
1 Training
Activities that are active and participatory, and are part of some recognised formally constituted training, conference, knowledge transfer or briefing scheme. Computer-based training is included here.
Maximum claimable hours : 28
Minimum claimable hours : 1
2 Self-directed Learning
All unaccompanied learning activities, including internet based research, except computer based training included in 1 above.
Maximum claimable hours : 10
Minimum claimable hours : 1
3 Development of Others
Where a member of the Institute shares their knowledge and expertise with other members or directly with non members in the fields covered by the Institute, including institute and related professional contributions in formally constituted roles, and all provision of agreed training and education, conference presentations. Those in training roles can multiply contact time by 5 to account for preparation.
Maximum claimable hours : 20
Minimum claimable hours : 1
What training is accredited for CPD?
There is a very great range of training and knowledge transfer that is potentially suitable for members to pursue as CPD. The Institute givers permission to members to self-certificate their own training, providing that this training is clearly recorded in the individual member’s CPD log, and meets the requirements of the 3 elements detailed above. Such training should be clearly relevant to this purpose, and may be subject to challenge when individual logs are called in for inspection.
Contact technology@ior-institute.org if you require further information.
In addition, the institute will provide some courses especially accredited for CPD as a guide for members. Initially these will include the training events that the Institute runs. Where other courses or programmes from other institutes are accredited, they will be listed on this site as part of this policy.
Can you apply for a Concession?
The CPD team contactable via email to technology@ior-institute.org will provide the first contact point for consideration of any concessions. It may be the case that individual members have compelling personal reasons for an exception to the policy, and these will always be considered sympathetically, by IOR Exco in the final instance.
Detailed Examples of CPD
1 Training
Sources:
Specialist training providers either in-house or independent, providers of academic training including educational establishments, and institutes or societies. This category will include the formal training run by the IOR. They could include technical meetings run by directors and partners, and knowledge transfer.
Delivery:
Courses, conferences, workshops, structured discussions and formal computer based training. Completion required may range from attendance through to participation, to formal examination and dissertation. They may provide a variety of evidence, including from self-certification of attendance or completion to many forms of certification including qualifications.
Computer based learning of sufficient quality by a specialist provider.
2 Self-directed learning
Sources:
A very wide range of specialist providers of information in the fields of relevance to Operational Risk including accepted academic and practical authors on theory and practice, and regulatory and supervisory bodies. The proceedings of governance bodies and discussions of the development of operational risk practice. The works of individual organisations such as their own policies and procedures with regard to operational risk. The use of regular professional journals and magazines should be carefully assessed to ensure that material recorded as CPD is of sufficient professional quality.
Delivery:
A very wide range of reading materials including paper and electronic format, the latter available in many forms including through internet and intranet search, including the relevant parts of the IOR website. Materials may be made available through for example commercial publishers, individual organisations under various conditions of confidentiality, and research institutes and libraries such as the British Library.
3 Development of Others
Sources:
Research and lecture preparation
The results of self-directed learning are expressed in communication either of original contributions to original research or in the preparation and presentation of lectures and other forms of training.
Contributions to the development of the organisation of the Profession and the Institute.
Where members are assuming positions of responsibility such as attendance at committee meetings and contributions to workstreams then their experience and expertise in the field of operational risk is an important source of their authority.
Delivery:
All training roles can multiply contact time by 5 to account for preparation. All posts of responsibility can multiply their contact time by 2 to account for preparation.
Note that self-certification allows this topic to be widely drawn. A member of the institute without a formal post of responsibility of a formal teaching role can nevertheless take part in the development of others and further the development of the discipline of Operational Risk. Leadership is available at every level, and can assume the form of providing assistance and taking informal responsibility for the professional development of others such as work colleagues, providing some basic assistance at training events, and contributing to the growth in membership of the institute. The minimum requirements of time spent in each activity type are there to challenge members to take part in all the constituents of CPD.
Activities not appropriate for CPD
A wide range of ‘business-as-usual’ activities should not be entered on CPD logs. Normal working activity, other than original research, any use of basic journalism, social activities including institute dinners, all non-technical discussions. The fact of subscription to relevant journals is not sufficient to justify CPD, it is the appropriate and justified usage that is of relevance.
