International Certificate in Financial Services Risk Management

The International Certificate in Financial Services Risk Management has been updated in response to international regulatory developments such as Basel III and Solvency II which require that financial services companies and their staff have a broader understanding of risk management.

The qualification provides you with an:

  • Introduction to the principles, concepts and practice of risk and risk management
  • Understanding of the multi-disciplinary nature of risk management within a financial services organisation
  • Understanding of current risk management thinking, standards and regulations across of the world
  • Entry route to the International Diploma in Risk Management

If you already hold one of the risk management qualifications on this list you will be exempt from the International Certificate in Enterprise Risk Management and may apply directly to become a Certificate Member of IRM.

Download a Certificate Membership application form.

There are also other ways of having your learning and experience recognised via either non-standard exemption routes or accreditation of prior learning.

View the financial services certificate qualification brochure here

Click here to view the Financial Services qualification brochure » 

Principles of Risk and Risk Management in Financial Services

An introduction to the principles and concepts of risk and risk management in financial services, it explores how to classify risks in a financial services environment and the approaches that are used to identify, assess and treat them.

Practice of Risk Management in Financial Services

Exploring the impact of the global business environment on risk, it examines the impact of the business environment on risk management in the banking and insurance sectors, and how corporate governance influences risk architecture, culture, appetite and tolerance.

Equivalent to degree level.

5-9 months                                                                                                                                                      

Students undertaking the International Certificate in Enterprise Risk Management qualification must complete the qualification within two years of enrolling as a student. Three attempts are permitted within this timeframe and each attempt will require you to pay a re-sit fee. You will continue to have access to your learning materials After this point, students will be required to re-enrol and pay a further enrolment fee.

An indicative study time for the qualification is between 180 and 200 hours per module.

Self-directed distance learning

Distance learning gives you the flexibility to study at home at your own pace. Our extensive global network of examination centres and our special centre policy means you can study and take your examinations anywhere in the world. 

Blended learning

We offer a blended learning option for students who prefer a more interactive learning experience. These student-centred workshops will reinforce your understanding of the material and help you develop the practical skills needed to put your learning into practice. 

Find out more »


Through our in-house training, work with you to develop and deliver bespoke training courses to meet all your objectives. We develop the course and reference materials which can be delivered on a rolling basis or as a unique event, depending on your requirements.

Find out more »

Student membership: When you enrol on the International Certificate in Enterprise Risk Management qualification you will automatically be registered as a student member of IRM for a maximum of two years, or until you complete the course - whichever comes first. You will only continue to have student membership as long as you are entered for an exam. Students will also receive access to:

  • Online virtual learning environment – with activities and quizzes
  • Student handbook
  • Discussion forum
  • Module coaches
  • Live Revision webinars
  • Sample example questions
  • Online resource centre
  • Dedicated student support team

Please note: The online virtual learning environment which includes access all of the above (except core textbooks) will be available from September 2020 

There are no formal entry requirements.

IRM's qualifications are delivered and assessed in English. If English is not your first language, we recommend you have an Academic IELTS score of 6.0 (with no element less than 5.5) or equivalent evidence of competence in the English language before beginning your studies.

IRM’s examinations are online and computer-based. Module content will be assessed through the use of the learning outcomes. 

Please note: You can only enrol for one Certificate per exam session.

Examination Dates


Download the December 2020 examination timetable

June 2021 examination dates

Download the June 2021 examination timetable

Examination Centres

Pearson VUE has an extensive test centre network across the world.

Students will be notified of the date they can book the test centre for the exam after they have enrolled on the qualification and their payment successfully processed.

Special needs and access arrangements

Wherever possible, examination arrangements will take into account any special requirements you have. If you complete an application for special arrangements, we must receive your completed form no later than 28 February for the June examinations, and by 31 July for the November examinations. This is to give us enough time to effectively help you with your requirements. While we aim to meet all requests, we cannot fulfil requirements where applications are received late.

Special arrangements application form

Special needs and access policy 

Standard exemptions

If you already hold one of the risk management qualifications on this list you will be exempt from the International Certificate in Enterprise Risk Management and may apply directly to become a Certificate Member of IRM.

Download a Certificate Membership application form.

You may also be exempt from some of the modules on the International Diploma in Enterprise Risk Management, should you wish to continue towards full professional qualification.

Non-standard exemptions

If you hold a qualification/award with which we have not already approved, but which you feel covers the syllabus of one or more modules, you might still be able to claim an exemption. You will need to provide evidence that the qualification/award you hold covers a minimum of 80% of the syllabus for the module you are applying for and has been tested to a level equivalent to the International Diploma.

Download a non-standard exemption form here

Accreditation of prior learning (APL)

Our Accreditation of Prior Learning Scheme (APL) recognises that people learn and demonstrate knowledge in ways other than through a process of formal study and examination. It allows you to demonstrate that you have met the theoretical requirements of the International Diploma modules through practical work experience or non-certificated training rather than by examination.

You must have a minimum of five years risk management experience to be eligible to apply and you will need to demonstrate your professional competence through the completion of a detailed portfolio of experience.

Download the application form here

Download the guidance for applicants here

Successful graduates automatically become Certificate Members (IRMCert).

You will also have met the prerequisite for acceptance on to the International Diploma in Enterprise Risk Management.

What happens once the qualification has been completed?

Completion of the certificate will mean that you become a Certificate Member (IRMCert) and are able to progress on to the International Diploma in Enterprise Risk Management; this is the first step of the journey to become a Certified Member of the IRM (CMIRM).

How long does it take to complete?

There are two enrolment periods each year and students should consider the time commitment for study before enrolling on the course; the Certificate can be completed within 10 months, and study time available will depend on when the full course fees have been paid for the enrolment period open at that time. Students enrolling later in the enrolment period will need to consider the amount of time remaining to study for their scheduled exam session before enrolling on to the course.

Can the modules be split across different exam sessions?

The course consists of two modules which are studied together. The exams for both are sat in the same exam period that relates to their enrolment window, and cannot be split.

Is there a time limit in which to complete the qualification?

Students have 3 attempts  and must complete the qualification successfully within 3 consecutive sessions e.g. June, December, June or December, June, December. After this point, students will be required to re-enrol and pay a further enrolment fee

When do the exams take place?

There are two examination sessions for the Certificate. These are normally early June and late November. Exact dates can be found on the exam timetable.

Can I defer my exams once I have enrolled and paid for my course?

Unfortunately we do not offer deferrals as such on exams within our Examination Policies, Procedures and Regulations. If candidates are not able to sit their scheduled exams for any reason, they can decide not to attend the exam and will be marked as absent. There is a fee for entry to a later exam session - £175.00 GBP per exam, and will be charged upon any future re-sits of the missed exam(s).

Not attending your any of your scheduled exams will use up one of your three attempts at each exam, but you will not be penalised at all in terms of marks or grading for sitting in a later session.

June 2021 session course fees

Standard rate £2,095.00
Member rate £1,895.00

Low GDP rate
View the list of low GDP countries

To qualify for the Low GDP Rate, you must meet all of the following:

  • Living in the low GDP country
  • Working in the low GDP country
  • Having your learning materials delivered to the low GDP country
  • Sitting your exams in the low GDP country
Click here to view group discount information  

Qualification course fees are VAT exempt.

Please note: Core textbooks for this qualification are not included in the course fees and need to be purchased separately.

Group enrolments

Discounted rates are available for groups of 10 or more employees enrolling for the same session from the same organisation. For further details please contact our Business Development Manager - Joanna Kraska.

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Payment methods

Full details of payment methods can be found on the enrolment form. Payment can be made using the following methods

  • BACS / Bank transfer
  • Debit / Credit card
  • Invoice -  payment must be made within 14 days of the invoice date


Key Dates

June 2021 Exams

01 Jul 20 - Enrolment opens
Sept 20 - Access to virtual learning environment (Moodle) becomes available
31 Dec 20 - Enrolment closes
01 Jan 21 - Studying period starts
07 Jun 21 – 11 Jun 21 - Principles of Risk & Risk Management in FS exam
14 Jun 21 – 18 Jun 21 - Practice of Risk Management in FS exam

Exam session Enrolment window
June exams 1 July - 31 December
December exams 1 February - 31 May

Please note that the enrolment is not an enquiry form or an expression of interest. By completing the online enrolment application you are enrolling as a student on to the course for the qualification and must pay the course fees; you will be asked to pay your full course fees by debit/credit card (MasterCard or Visa) at the end of this online application.

Alternatively if your organisation is sponsoring you and has already agreed to cover the cost of your course fees and needs an invoice raised you can select this option. Please ensure that you have all of the correct invoicing details before starting this process - information you will need from the person agreeing to sponsor you includes a PO number, invoicing email address, and invoicing postal address. A PO cannot be accepted as an enrolment, and an enrolment form will need to be completed as well as submitting a PO.

If your organisation is sponsoring your course fees, please ensure that this has already been agreed before starting the enrolment process, as once the enrolment form has been submitted, full payment is required.


To get in touch or for more information contact us:

 +44 (0)20 7709 4125