The Institute of Risk Management is to form a partnership with the Institute of Operational Risk. As part of the alliance, the IRM will provide support for the promotion of the IOR Certificate in Operational Risk. This will become part of the IRM’s global portfolio of qualifications, complementing the International Certificate and Diploma in ERM, and the new Digital Risk Management Certificate.

Both organisations have expressed a commitment to advancing the practice of operational risk management in the fourth industrial revolution. As part of this, the IRM will be funding a major joint research project to advance thinking in operational risk management and contribute to further qualifications development.

The development of a global network of risk practitioners and professionals delivering value and service at a local and regional level is a key strategy of both the IRM and IOR. The chapters and groups of the two organisations will co-operate at a regional level to provide global support for members and the wider risk management community.

Chairman at the IRM, Socrates Coudounaris, said the alliance is formed in the interest of both organisations. “The IRM has a long and productive association with the Institute of Operational Risk. We have built our partnership on the common ground between us and the joint interest we have in providing excellent education and training to the wider global risk community in ERM and in operational risk," he said.

"Our groups and chapters complement one another. We believe it is in the interest of both institutes to further deepen and extend our strategic relationship. The exact form of the future strategy is currently under discussion but we are positive that whatever the direction taken the outcome will be in the best interests of the risk management profession.”

The IOR brand will be retained.

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