IRM to Offer Modern Apprenticeships in Risk and Compliance
The IRM has been granted supporting training provider status (to deliver the professional qualification element of the Apprenticeship) by the Register of Apprenticeship Training Providers (RoATP) for Modern Apprenticeships in Risk and Compliance. Apprenticeships must last for at least a year. They can last up to 5 years depending on the level the apprentice is studying.
Modern Apprenticeships give anyone over the age of 16 the opportunity to work in a paid job while undertaking workplace training in order to gain new and enhanced skills and recognised professional qualifications. All apprenticeships include elements of on the job and off the job training, leading to industry recognised standards or qualifications. Some apprenticeships also require an assessment at the end of the programme to assess the apprentice`s ability and competence in their job role.
Employers can access funding including incentive payments of up to £2,000 for any apprentices hired before 31 January 2021.
The IRM qualifications that meet the Modern Apprenticeship standards are:
- IRM International Certificates in Enterprise Risk Management (ERM), and Financial Services) – Level 3
- IRM International Diploma in Risk Management– Level 6
Iain Wright, CFIRM, Chair, IRM said:
“We’re delighted to be able to make this announcement, Apprenticeships are a great way to earn as you learn and get a recognised qualification from the Institute - whether to kick start working life or further an established career with new skills.
The pandemic has hugely impacted the unemployment rate of 16-24-year-olds which some forecasters predict could reach more than 20% because of Covid-19. The employment market is volatile but this initiative can go some way to secure the futures of young people.
It’s exciting that IRM will be playing a central role in helping to educate the next generation of risk managers. There are clear benefits for both the employer and the apprentice.”
Louise Brennan, Risk Higher Apprentice at Barclays UK Wholesale Credit has recently completed her Apprenticeship, she told us more:
“To be honest, I was hesitant at first – the word “apprenticeship” brings to mind school leavers, not someone like myself who had been to university and working full-time for a number of years.
I researched the options and became really excited about the possibility of working and gaining experience in the risk function. It’s an area that has received a lot of attention, particularly since the financial crisis and now during the pandemic. Risk is relevant to all businesses.
An IRM qualification is a great base for stepping into a career in risk management. It requires hard work and dedication to complete a qualification whilst working, but you’ll receive lots of support”.
The 28-year-old graduated from Bournemouth University with a degree in television production in 2011, but found it difficult to get work in the area she studied in.
She ended up working as a Barclays Customer Service Adviser. She then heard about apprenticeships and enrolled on the risk higher apprenticeship. She graduated in September 2020, read more about Louise here.
Find out more information on how to recruit an apprentice or apply for the Risk & Compliance apprenticeship programme including a list of the training providers click here.
For further information please contact: Joanna Kraska, Business Development Manager, IRM: Joanna.firstname.lastname@example.org
Our UKPRN number is 10019904.