The Institute of Risk Management (IRM) has unveiled an initiative that makes its International Certificate in Operational Risk Management (ICORM) and three professional risk management programs eligible for HRD Corp funding in Malaysia. This move is designed to broaden the availability of globally recognized risk management education to Malaysian professionals and employers.
This strategic development aims to enhance skills in enterprise risk management amid the rising challenges organizations face, including digital transformation, artificial intelligence, regulatory compliance, and the need for operational resilience and governance. IRM’s decision reflects Malaysia’s workforce development goals, particularly as the country experiences a shortage of skills in risk management roles. The organization seeks to offer flexible, workplace-oriented training that promotes improved decision-making and organizational resilience.
The HRD Corp-funded programs encompass several key areas: Managing AI Risks in the Workplace, which addresses governance, ethical, and operational risks linked to artificial intelligence; Financial Services Risk Management, which deals with risk management practices specific to banking, insurance, and financial services sectors; Managing Organisational Risks, which introduces the principles of enterprise risk management; and the International Certificate in Operational Risk Management (ICORM), focusing on operational risk frameworks, controls, monitoring, reporting, risk culture, and event management.
IRM Asia, the regional arm of the organization and a registered HRD Corp training provider, highlighted that eligible Malaysian employers can now access funding for these approved programs, allowing them to invest in internationally recognized professional qualifications. This initiative is also part of IRM’s larger strategy to expand professional risk management education across the ASEAN region, thereby supporting organizations in building sustainable risk management capabilities for the long term.
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