The Institute of Risk Management (IRM) has revealed that its International Certificate in Operational Risk Management (ICORM), along with three other professional risk management programs, are now eligible for funding from HRD Corp in Malaysia. This move is set to widen the availability of internationally accredited risk management education in the country, aiming to equip Malaysian employers and professionals with crucial skills in enterprise risk management. With the challenges posed by digital transformation, artificial intelligence, regulatory compliance, operational resilience, and governance, the need for these skills is becoming increasingly essential.
This initiative aligns with Malaysia’s focus on workforce development, particularly in areas experiencing a shortage of skilled professionals, such as risk management roles. IRM’s objective is to offer flexible, workplace-oriented training that enhances decision-making and boosts organizational resilience. The programs eligible for HRD Corp funding are designed to address contemporary issues in risk management, including managing AI risks in the workplace, financial services risk management, and organizational risk management principles.
The suite of HRD Corp-funded programs comprises “Managing AI Risks in the Workplace,” which addresses governance, ethical, and operational risks involved with artificial intelligence; “Financial Services Risk Management,” which targets risk management practices within the banking, insurance, and financial services sectors; and “Managing Organisational Risks,” which introduces the principles of enterprise risk management. The ICORM program focuses on operational risk frameworks, controls, monitoring, reporting, risk culture, and event management.
IRM Asia, the organization’s regional branch and a registered HRD Corp training provider, emphasized that eligible Malaysian employers can apply for funding for these approved programs, thus enabling investment in internationally recognized professional qualifications. This effort is part of a broader strategy by the institute to expand professional risk management education throughout the ASEAN region. The initiative supports organizations in building long-term capabilities in risk management, addressing both current and future challenges.
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