University of Mumbai launches IRM’s Global Level 1 Enterprise Risk as 2-credit open elective course under NEP

The University of Mumbai’s Garware Institute of Career Education and Development (GICED) has launched a pathbreaking collaboration with the Institute of Risk Management’s India Affiliate (IRM India) to introduce IRM’s Global Level 1 Enterprise Risk Management (ERM) Course as a 2-credit open elective virtual course under the National Education Policy (NEP, 2020). IRM, headquartered in the UK, established in 1986, is the world's leading certifying body for ERM examinations across 143 Countries. IRM is the only body in the world to provide designations in ERM with Fellowship at Stage 5 / Level 5. 

In a world where events like pandemics, wars, cyber-attacks, fake news, supply chain disruptions, governance irregularities, entrepreneurial failures, succession planning and reputational damages are becoming increasingly common, understanding and managing all types of risks is no longer just a profession — but a vital life skill across any career path. Through this landmark collaboration, students will have the opportunity to earn the global life skill by getting risk-intelligent in every domain and sector with this internationally recognised 2-credit open elective virtual course covering 300 areas of risks. 

University of Mumbai students studying under-graduation or post-graduation in any college, discipline or stream (technology, engineering, law, finance, business studies, entrepreneurship, marketing, and more) can register for the course in order to become risk-literate. Alumni of University of Mumbai working in any function (HR, supply chain, finance, audit, governance, procurement, branding) or role (entrepreneur, family business owner, professionals, employees) can also enrol for this course to upskill and start a career in ERM.

Prof. (Dr.) Ravindra Kulkarni, Hon’ble Vice Chancellor, University of Mumbai said, “We are delighted to partner with the prestigious Institute of Risk Management (IRM) UK to offer our students a world-class risk management open elective 2 credits program. This collaboration will enable our students to gain cutting-edge knowledge and skills in risk management, preparing them to navigate the complexities of a rapidly changing global business landscape. The students will be able to work in any career in any function across industries including startup, family business, business department of company or risk management department with their ability to identify enterprise wide risks. UM GICED will be able to contribute towards creating Risk Resilient India.”

“This landmark collaboration will help students aspire to be professionals, business leaders, consultants, entrepreneurs, or next-gen family business owners, the open elective course, recognized for 2 credits, will serve as a gateway to mastering problem-solving and risk-based decision-making skills. Students will also learn to navigate challenges in emerging areas such as AI, climate, supply chain, geopolitics, and project management, and confidently transform these challenges into opportunities”,said Ian Livsey, CEO, Institute of Risk Management.

“We are thrilled to partner with the esteemed University of Mumbai, reinforcing our commitment to building a Viksit, Aatmanirbhar, and resilient India by nurturing risk-intelligent leaders. This collaboration will equip students and alumni from the University and its affiliated colleges with essential knowledge that transcends industries, roles, and responsibilities”,said Hersh Shah, CEO, IRM India Affiliate and India’s Youngest Enterprise Risk Expert at the launch event.

As part of the course, students will get a physical textbook, a 3-month access to the online learning portal from IRM India Affiliate with study materials, course videos and 24/7 AI-enabled academic support through faculty. The exams will be conducted on an ongoing basis as soon as students complete the online training. Students will have unlimited attempts to pass the examination within a period of 3 months. Once students pass the internal and external examination, a mark sheet will be generated by GICED as per the University academic schedule and 2 academic credits shall be granted under the Academic Bank of Credits (ABC). Candidates will then have the opportunity to pay and appear for the Supplementary Online Examination by IRM India to earn the IRM's Global Level 1 Certificate from the UK, recognised in 140 countries.

Registrations for the course open on 15th October 2024. University students and alumni can pre-register by dropping an inquiry on the Registration Section at: https://www.gicededu.co.in/irm-mumbai-university-global-enterprise-risk-management-2-credit-course.php  

University of Mumbai Affiliated College Deans / Faculty / Programme Coordinators / HODs interested in offering this international course under NEP or integrating the course in their curriculum or registering their students together can contact +91-7718809596.

About IRM India Affiliate

The Institute of Risk Management (headquartered in the UK, established in 1986) is the world's leading certifying body for Enterprise Risk Management (ERM) examinations across 140+ Countries. IRM is the only body in the world to provide designations in ERM with Fellowship at Stage 5 / Level 5. IRM India Affiliate has partnered with leading organizations such as Invest India, NIMSME ( Ministry of MSME), IHCL, UltraTech Cement, Cipla, Reliance Jio, Tata Consumer Products, HDFC Asset Management and ICICI Lombard. It also has academic ties with institutions like Mahindra University, Sri Sri University, NMIMS CIS, IFMR Business School, MAHE, National Insurance Academy, and FLAME University. Other landmark initiatives include a report with AICTE, annual CRO summit with NISM (SEBI’s capacity building initiative), virtual risk programme for school students with Mindler, What’s the RiskTM show on CNBCTV18 and the Enterprise Risk & India Regulation Online Course (ERIRC) with NISM. More information on IRM’s qualifications, exam updates, and other details are available at - https://www.theirmindia.org/

About University of Mumbai 

The University of Mumbai (known earlier as University of Bombay) is one of the oldest and premier Universities in India. It was established in 1857 consequent upon “Wood’s Education Dispatch”, and it is one amongst the first three Universities in India. Category I University status awarded by UGC. The University has been bestowed with A++ grade, with CGPA of 3.65 in August 2021, by National Assessment and Accreditation Council (NAAC), Bangalore, and its current CGPA being one among highest in Maharashtra.

About Garware Institute of Career and Education Development

The Garware Institute of Career Education and Development (GICED) was founded by the University of Mumbai in 1984 through joint efforts of Padmabhushan Shri Abasaheb Garware and Prof. Ram Joshi then Vice Chancellor of University of Mumbai with a vision of conducting various vocational and career oriented courses.

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