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ELCAS funding now available for the Certificate in Operational Risk

Enhanced Learning Credits Administration Service (ELCAS) funding for the Institute of Operational Risk (IOR) Certificate in Operational Risk Management now available for ex service personnel.

The IOR (part of the Institute of Risk Management group) has been granted Approved Learning Provider status for the Enhanced Learning Credits Scheme (ELC) by the Enhanced Learning Credits Administration Service (ELCAS).

The MOD’s Enhanced Learning Credits Scheme promotes lifelong learning amongst members of the Armed Forces. The scheme provides financial support in each of a maximum of three separate financial years for higher level learning of a nationally recognised qualification at level three or above.

The Institute of Operational Risk Certificate in Operational Risk Management (CORM) is an externally accredited RQF Level 4/EQF Level 5 course and is a self-study workbook supplemented with workplace reflection and learning activities, providing candidates with a foundation in operational risk management.

This exciting development builds on the Institute of Risk Management (which the IOR is a part of) signing the Armed Forces Covenant, pledging our support for the military community.

Simon King CMIRM, Chief Risk Officer, UK Ministry of Defence (including strategic headquarters for the Armed Forces) is a senior member of the IRM and comments:

“There are some 200,000 people in the Armed Forces and many of them are making risk management decisions every day. This access to funding and education will be invaluable to service personnel and help them to forge a new career path once they leave service.

A career in risk management gives you unique access to the top of, and across the breadth of, an organisation. You have a huge responsibility to use that access and voice your opinions carefully. Professional qualifications will enhance employability, increase earning potential and ensure those who access the funding for the CORM are current and competent.”

Iain Wright, CFIRM, Chair, IRM said:

“In these turbulent times there’s never been a greater need for current and competent risk managers in all businesses, in any sector globally to master the principles of risk management. Competent risk managers will be at the heart of the economic recovery post Covid-19.

Many of the skills learnt by service personnel naturally crossover into the world of risk management and we’re keen to ensure these skills are recognised and that we can help support lifelong learning and career transition where possible.

It is vitally important that the Armed Forces and businesses are mutually engaged and the IOR/IRM will be at the forefront of this. We provide accessible and relevant training and qualifications that will help service personnel make the transition to the business world”.

Benefits of studying for the CORM:

Learn operational risk concepts
Demonstrate commitment and professional knowledge
Develop a common understanding
Independent certification
Career transition and increase in earning potential.
Who can apply?

Ex-forces personnel currently working outside the military

Organisations that employ ex-forces personnel

Full details can be found here:

(Click on SEARCH FOR PROVIDER OR COURSE and then search for IOR).

IOR’s ELCAS Approved Training Provider number is 10925.

Posted in News item