The IRM has been granted supporting training provider status to deliver the professional qualification element of the Modern Apprenticeship in Risk and Compliance from the Register of Apprenticeship Training Providers.

Modern apprenticeships provide individuals 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.

The IRM qualifications that meet the Modern Apprenticeship standards are:
· IRM International Certificates in Enterprise Risk Management and Financial Services) Level 3

· IRM International Diploma in Risk Management, Level 6

IRM chairman, Iain Wright (pictured) 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.”

Apprenticeships must last for at least a year, and can go for as many as 5 years, depending on the level the apprentice is studying.

Employers can access funding including incentive payments of up to £2,000 for any apprentices hired before 31st January 2021.

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