The Institute of Risk Management (IRM) recently revealed that its International Certificate in Operational Risk Management (ICORM) and three additional risk management award programs have become eligible for funding by HRD Corp in Malaysia. This move aims to enhance the accessibility of globally recognized risk management education for Malaysian professionals. With organizations confronting mounting challenges in areas such as digital transformation, artificial intelligence, regulatory compliance, operational resilience, and governance, this initiative seeks to bolster the skills of employers and professionals in enterprise risk management.
This development is in line with Malaysia’s workforce development goals, as the country continues to experience shortages in skilled risk management roles. By offering flexible, workplace-focused training, IRM intends to aid employers in making informed decisions and enhancing organizational resilience. Among the programs eligible for HRD Corp funding are courses on managing AI risks in the workplace, which cover governance, ethical, and operational risks associated with artificial intelligence. Additionally, the financial services risk management program emphasizes practices within the banking, insurance, and financial services sectors, while the managing organizational risks course introduces foundational principles of enterprise risk management.
The International Certificate in Operational Risk Management (ICORM) is also part of the funded programs, addressing key areas such as operational risk frameworks, controls, monitoring, reporting, risk culture, and event management. IRM Asia, the institute’s regional branch and a registered HRD Corp training provider, has stated that Malaysian employers can now claim funding for these approved programs, thereby investing in qualifications recognized on an international level.
This initiative is a component of IRM’s comprehensive strategy to broaden professional risk management education throughout the ASEAN region. By supporting organizations in building long-term risk management capabilities, the institute aims to help them navigate the evolving landscape of business risks. As organizations strive to adapt and thrive in a rapidly changing environment, the availability of such funded programs offers a valuable opportunity to develop the necessary skills and knowledge to manage future challenges effectively.
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