IRMSA process leads to recognition of Risk Management as an occupation
Pieter le Roux, chairperson of the IRMSA Education and Technical Sub-Committee (the Committee), in conjunction with the members of the IRMSA Executive Committee, identified that more has to be done for members in terms of identifying gaps related to the profession, the members’ needs and how these needs will be addressed. His involvement with the Compliance Institute of South Africa (CISA) prompted him to investigate whether the Risk Management occupation is registered as an occupation with the Department of Labour (which it wasn’t) and then the Committee proactively embarked on a prolific journey of getting the occupation registered. Tasked by the Executive Committee and mandated by stakeholders spelt the beginning of a process referred to as the QCTO (Quality Council for Trades and Occupations) process with the assistance of a QCTO facilitator/consultant Jurie van Zyl.
It was formally announced in February 2010 that the Organisational Risk Manager was registered as an occupation. As part of the Organising Framework for Occupations (OFO), this means that IRMSA will now proceed to the next step which is to ensure that the Occupational Curriculum and Qualification is developed for Risk Managers.
Apart from celebrating this registration, IRMSA has recently received notification that The Banking Sector Education and Training Authority (BANKSETA) has agreed to sponsor the development of the QCTO curriculum and qualification for the “Organisational Risk Manager” during the 2010/2011 financial year. The advantage of developing this curriculum and qualification is that Training and Development providers can also develop their own course material in line with the curriculum and qualification once developed and registered with QCTO.
The wonderful thing is that the qualification will be generic and fit - for - purpose for anybody wanting to study Risk Management and therefore it will be applicable to various industries be it in Banking, Insurance, Construction etc. because the qualification will address generic Risk Management Principles. Providers can then develop material based on the specific Industry’s requirements. Whilst this is achieved, we will register IRMSA with SAQA as a Professional Body as well as IRMSA’s professional designations. The long-term view is that candidates would submit to a board exam for a summative assessment giving them professional status if successful and allowing them to add a specific designation after their surname.
We salute Pieter and the Committee for the incredible work he and the members have done and we are very excited to see what the developments will be!
*This qualification will be endorsed by IRMSA, registered with SAQA and aligned with International Standards.
Institute of Risk Management SA
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