Investors in Risk Management accreditation is an excelent way of reassuring stakeholders that risks are being managed appropriately. The accreditation process is an outstanding opportunity to gain an independent perspective and professional advice on recognised principles of risk management processes.
Organisations have always faced and mitigated risks, but a more complex business environment has broadened the set of demands to manage risks effectively. Stakeholders are increasingly expecting businesses to manage the full impacts of their operational, political, economic, social, technological and legal risks. IIRM accreditation using our Risk Management Maturity Model will improve your ability to develop, implement and enhance your risk management framework. It will satisfy the stakeholders that a risk management framework is in place and working effectively to manage organisation-wide risks.
IIRM use RMMM with the objective of measuring the risk maturity levels of organisations to facilitate the implementation of the best risk management practices.
We offer organisations a simple but effective method to measure the maturity of their risk management process and suggest improvements towards a state where the entity will be in an improved condition to achieve its strategic and operational objectives.
In reality it is quite difficult to find a fully or completely mature organisation; however, it makes sense to define degrees of maturity by measuring the complexity of the organisational risk management process according to a risk maturity model.
A maturity level is a well-defined evolutionary level toward achieving a mature process. Each IIRM Risk Management Maturity level provides a layer in the foundation for continuous improvement in a risk management framework. No single risk maturity level will be appropriate for all organisations. Each organisation’s board and executive should decide on the appropriate level of risk management sophistication that they aspire to achieve. The desired level of risk maturity may change over time to reflect changes in the organisation’s complexity, size and risk appetite.
The immediate output is the Risk Maturity Assessment report which will include a summary for an immediate insight and the following elements:
IIRM Accreditation is the outcome of a successful assessment of a risk management maturity by IIRM. Whatever the level of accreditation you achieve, it provides evidence to stakeholders that you are either effectively managing your risks or are on the right track to manage organisation-wide risk with a strong commitment.