IRm fOCus A gAME chAnGer RISk PROfESSIOnALS CERTIfICATIOn IS A MAJOR MILESTOnE fOR THE InDUSTRy The first CMIRMs and CFIRMs with IRM chairman, Jos Morago (right), and director Clive Thompson (far left) O n 1 July, IRM launched its new certification for risk professionals, bringing the sector into line with professions such as accountancy and law. The following day, IRM chairman, Jos Morago, presented the first proud MIRMS and FIRMS with their certificates, calling it a major milestone in professionalising risk management. Risk professionals have an incredibly important organisational and societal role to play in managing risks and maximising opportunities, Morago pointed out. Now our certification scheme sets out the standards of best practice for the profession worldwide, and gives organisations new confidence that they are recruiting risk professionals with the right experience and skills. IRM chief executive Ian Livsey added: We believe the thorough and comprehensive nature of IRM certification will be a game-changer, giving risk practitioners a clear route to professional recognition. Find out more about becoming certified and the benefits it offers to risk practitioners, employers and regulators here www.theirm.org/membership/ become-a-certified-member/ current MIrMs and FIrMs The status of MIRMs and FIRMs remains unchanged. Both continue to provide a valuable international designation, which recognises the professional and qualified status of members. Certification recognises experience as well as knowledge, and many current members already have or will gain that experience, and can then apply for certification if they wish. Its not compulsory and we recognise that many members will choose to enjoy the benefits they currently get from MIRM and FIRM status. A streamlined transition Its inevitable that a scheme as comprehensive as certification has raised questions from members. Many of these queries have simple solutions or are covered in the supporting material. So, if you have any questions about your own situation, please email us at membership@theirm.org Weve also created a seven-minute video to explain how straightforward the process is, as well as the different routes to certification available to members. Watch it at https://www.youtube.com/watch?v=eA4ymQalmfQ: Spotlight on standards The global, post-financial-crash focus on behavioural standards and professional competency continues to intensify. Most recently, the Banking Standards Board announced in July that it wanted the UKs biggest banks to provide details of their ethical policies, cultural standards and executive pay, as part of a wider audit of company culture. Barclays, HSBC, Lloyds, Nationwide, Royal Bank of Scotland, Santander and Standard Chartered are among the major names who have agreed to participate. So its timely that IRM has recently published its Professional Standards Framework, covering the standards and behavioural competencies we expect from risk professionals. While the framework underpins certification, the standards are likely to prove a useful reference for a much wider group of risk stakeholders. They are available on IRMs website www.theirm.org/media/1406416/IRM-PSRMBrochure_WEB.pdf We have sent all UK regulators a copy of the standards. We look forward to working with them to maximise the impact our profession can have on changing corporate culture for the better, as well as adding value to decision-making.