The Institute of Risk Management
The Institute of Risk Management is a UK-based non-profit professional membership body founded in 1986 that delivers ISO 31000-aligned enterprise risk management qualifications, training courses (FoRM), and a global community of over 8,000 members across 143 countries.
- Company typePrivate
- Founded1986
- HeadquartersLondon, United Kingdom
- Headcount101–250
- GTM typeB2B
- OfferingServices
What The Institute of Risk Management does
The Institute of Risk Management (IRM) is a UK-based non-profit professional membership body founded in April 1986 to advance enterprise risk management (ERM) practice. Headquartered at 80 Leadenhall Street in the City of London, IRM delivers a portfolio spanning membership subscriptions, regulated and unregulated qualifications, and instructor-led and self-paced training, with a curriculum anchored to ISO 31000 international standards.
Its core product set includes the Fundamentals of Risk Management (FoRM) two-day course, e-learning programmes on ERM, quantitative risk, ESG, and risk culture, virtual and in-house bespoke corporate training, OFQUAL-regulated Level 4 and Level 5 International Certificates in Operational and Enterprise Risk Management, and unregulated awards in AI Risks, Financial Services Risk, and Managing Organisational Risks. Supporting infrastructure comprises a digital learning platform, the MyIRM member portal, the irm-communities.com forum, the quarterly Enterprise Risk Magazine, the annual IRM Risk Trends report, and more than 15 Special Interest Groups and 19 Regional Groups.
IRM monetises through four recurring and transactional streams: membership subscriptions (Student, Graduate, Certificate, Associate, CM, SIRM grades), course delivery fees (£1,085–£1,205 for FoRM in London, RM 3,500 in Malaysia), qualification and exam fees, and a licensed provider programme (£1,200–£1,750 initial approval, £2,500–£3,000 annual renewal, £20–£30 per certificate). Distribution combines direct public delivery, a global licensed-provider network across India, Australia, East Africa, Kuwait, Saudi Arabia, and South Africa, and the newly established IRM Asia Sdn Bhd subsidiary in Malaysia (formed March 2026 with HRD Corp approval), giving IRM a footprint across 143 countries, over 8,000 members, and more than 10,000 students trained.
The Institute of Risk Management firmographics
Firmographics- Name
- The Institute of Risk Management
- Legal name
- Institute of Risk Management
- Website
- https://theirm.org
- Company type
- Private
- Founded year
- 1986
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- The Institute of Risk Management is a UK-based non-profit professional membership body founded in 1986 that delivers ISO 31000-aligned enterprise risk management qualifications, training courses (FoRM), and a global community of over 8,000 members across 143 countries.
- Ownership category
- akta.pro rank
Where The Institute of Risk Management is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
The Institute of Risk Management business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Professional Membership: IRM generates revenue through membership fees across multiple grades including Student, Graduate, Certificate, Associate, Certified Member, and Technical Specialist (SIRM). Membership provides access to resources, networking, and member rates on courses.
- Training and Course Delivery: Revenue from delivering training courses including public courses (FoRM at £1085-£1205), virtual training, in-house/bespoke training, and e-learning programs. The FoRM course in Malaysia is priced at RM 3500 and is HRD Corp claimable.
- Qualifications and Certifications: IRM offers both unregulated qualifications (IRM Awards in AI Risks, Financial Services Risk Management, Managing Organisational Risks) and OFQUAL regulated qualifications (Level 4 and Level 5 International Certificates in ERM and Operational Risk). Revenue from exam fees and certification charges.
- Licensed Provider Program: Training organizations pay licensing fees to deliver FoRM courses under IRM brand. Initial fees range from £1,200-£1,750 for provider approval (including up to two trainers), with additional trainer fees of £750-£1,000 and a Trainer Resource Pack costing £3,800-£5,000. Ongoing annual renewal fees of £2,500-£3,000 plus £20-£30 per certificate issued.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Pay-as-you-go | Fundamentals of Risk Management (FoRM) - London |
| One time/ perpetual license | Multi-year contract | Licensed FoRM Provider - Initial Approval |
| Subscription | Annual | Licensed FoRM Provider - Annual Renewal |
| One time/ perpetual license | Pay-as-you-go | FoRM Malaysia - Kuala Lumpur |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels9 records
The Institute of Risk Management product offering
Product offeringCore offering
The Institute of Risk Management (IRM) is a non-profit professional membership body that delivers internationally recognised qualifications (including OFQUAL-regulated Level 4 and Level 5 certificates and unregulated awards in AI, financial services, and organisational risk), training courses (notably the two-day Fundamentals of Risk Management aligned with ISO 31000), e-learning, in-house corporate training, advisory services, and a global member community across 143 countries. It also publishes the quarterly Enterprise Risk Magazine and operates a licensed provider network that delivers IRM-branded training globally.
Product overview
The Institute of Risk Management offers a comprehensive portfolio of professional development products and services centred on enterprise risk management education and certification. The core offering consists of Ofqual-regulated qualifications at Levels 4 and 5 (International Certificates in Operational and Enterprise Risk Management) and unregulated award qualifications covering AI risks, financial services risk, and organisational risks. The flagship Fundamentals of Risk Management (FoRM) two-day training course serves as the primary entry point, supported by e-Learning, virtual, and in-house training options. IRM also provides advisory services, publishes Enterprise Risk Magazine, and maintains a membership programme with special interest groups and regional communities spanning over 143 countries. The portfolio operates as a professional body ecosystem rather than a unified software platform, with qualifications, training, and community engagement as distinct but interconnected service lines.
Differentiator
Problem solved
Functional benefit
Brands
- IRM Advisory: Brand-new awards covering operational, AI and financial services risk management.
- Enterprise Risk Magazine
- IRM Training
- IRM Awards
Products and services
- IRM Award in Managing AI Risks in the Workplace An unregulated short award qualification designed to help professionals understand and manage risks associated with artificial intelligence in the workplace.
- IRM Award in Financial Services Risk Management An unregulated award qualification focused on risk management principles and practices specific to the financial services industry.
- IRM Award in Managing Organisational Risks An unregulated award qualification covering fundamental concepts of identifying, assessing, and managing organisational risks.
- Level 5 - International Certificate in Enterprise Risk Management An OFQUAL-regulated Level 5 qualification providing advanced knowledge in enterprise risk management frameworks, assessment methodologies, and governance practices.
- Level 4 - International Certificate in Operational Risk Management An OFQUAL-regulated Level 4 qualification covering foundational to intermediate operational risk management concepts and practices.
- Fundamentals of Risk Management (FoRM) Two-day introductory training course providing a comprehensive foundation in enterprise risk management aligned with ISO 31000, including risk identification, assessment, treatment, and reporting techniques, with 12-14 CPD hours and a certificate of completion.
- e-Learning Programme Self-paced online courses covering Introduction to Enterprise Risk and Resilience, Quantitative Risk Management, Risk Culture and Communications, ESG Fundamentals, and Risk Simulator awareness.
- Virtual Training Courses Live, instructor-led training delivered online, providing interactive sessions and real-time engagement with the same curriculum as in-person courses.
- In-House Training Tailored training delivered at client organisations in standard, tailored, or fully bespoke formats, covering topics from introductory to advanced strategic risk management.
- Bundle Training Discounted packages combining multiple training courses, offering up to 25% savings when booking multiple courses together for individuals or teams.
- IRM Advisory Services Consulting services delivered by IRM practitioners to help organisations build risk management capabilities and develop practical tools and frameworks.
- Membership Programme Professional membership grades (Certificate, Graduate, Associate, Certified Member, Technical Specialist SIRM) offering networking, resources, course discounts, and professional development for risk management practitioners.
- Licensed FoRM Provider Programme Licensing programme enabling approved training organisations globally to deliver FoRM courses under the IRM brand with provided materials and quality assurance, with initial approval fees of £1,200-£1,750 and annual renewals of £2,500-£3,000.
Quantifiable outcome
- 12-14 CPD hours per course
- +2 more outcomes
Companies that use The Institute of Risk Management
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles4 records
The Institute of Risk Management technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
The Institute of Risk Management partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and minor.
- Human Resource Development Corporation (HRD Corp) MalaysiacoreIRM Asia Sdn Bhd has become an approved HRD Corp training provider in Malaysia, enabling IRM to deliver its risk management education programmes locally with access to government funding for employers through the SBL (Sistem Belanjawan Latihan) scheme.
- British Malaysian Chamber of Commerce (BMCC)minorIRM upgraded its membership with the British Malaysian Chamber of Commerce to Sterling level, supporting its strategic expansion in Malaysia and hosting training events at the BMCC premises in Kuala Lumpur.
- IRM Asia Sdn BhdcoreIRM established a new subsidiary office in Kuala Lumpur, Malaysia to support enterprise risk management education and professional development in the Asia-Pacific region. The subsidiary aims to operate as a certified HRD Corp training provider, offering qualifications, training, and partnerships as a regional hub for expertise and collaboration.
- Risk and Insurance Management Association of Singapore (RIMAS)coreIRM and RIMAS announced a new strategic collaboration designed to advance professional development, knowledge sharing, and organisational resilience across Singapore. This partnership strengthens risk management capability in the region.
- IRM India AffiliatecoreLicensed FoRM provider for India, committed to expanding IRM's global community and creating an ecosystem for enterprise risk management education in India.
- Victorem (Australia)coreApproved FoRM training provider in Australia, offering Fundamentals of Risk Management courses to Australian organizations.
- Pinebridge Training and Consulting (East Africa)coreLicensed FoRM provider for East Africa, delivering risk management training in Kenya and the broader East African region.
- Boubyan Consulting Firm (Kuwait)coreApproved FoRM training provider in Kuwait, serving the Middle Eastern market for risk management education.
- Executive Education Center, University of Business and Technology (Saudi Arabia)coreUniversity-based FoRM provider in Saudi Arabia, part of IRM's expansion into the Kingdom.
- RISKS - The Institute of Risk and Resilience (Saudi Arabia)coreApproved FoRM training provider in Saudi Arabia under the leadership of Sara Alrubei.
- Wconsulting (South Africa)coreLicensed FoRM provider for South Africa, delivering risk management training across Southern Africa.
- Imam Abdulrahman Bin Faisal UniversityminorUniversity partnership where IRM delivered a customized seven-day advanced Risk Management Masterclass to faculty. Dr Kamran Ahmed Siddiqui, Associate Professor at the College of Business Administration, provided positive feedback on the training.
Scale indicators4 records
Recent moves8 records
Expansion highlights6 records
The Institute of Risk Management competitors and assessment
Company assessmentDirect peers
- RIMS (Risk and Insurance Management Society): RIMS is the largest global non-profit membership association for risk professionals, offering the CRM (Certified Risk Manager) designation and a similar blend of training, certifications, and community. Directly comparable as a competing professional body for enterprise risk management.
- GARP (Global Association of Risk Professionals): GARP administers the FRM (Financial Risk Manager) certification, the most widely recognised credential in financial risk management. Competes with IRM for the same risk professional audience, particularly in banking and financial services.
- PRMIA (Professional Risk Managers' International Association): PRMIA offers the PRM (Professional Risk Manager) designation and risk training programs. Directly comparable as a competing professional body and credential provider in the risk management space.
Regional players
- AIRMIC (Association of Insurance and Risk Managers in Industry and Commerce): AIRMIC is the UK's leading association for insurance and risk managers, offering training, qualifications (including the CertCII), and thought leadership. Highly comparable in product offering but UK-only geographic focus, making it a regional rather than direct competitor.
- FERMA (Federation of European Risk Management Associations): FERMA is the federation of national risk management associations across Europe, focused on advocacy, training, and the RIMAP certification. Comparable as a regional umbrella body serving similar risk professionals, primarily in Europe.
- Institute of Risk and Resilience (RISKS, Saudi Arabia): RISKS is a regional Saudi Arabian risk management body that delivers IRM's licensed FoRM training. Comparable as a regionally focused risk professional body, and notable as both a partner and potential regional competitor in the Middle East.
Emerging players
- BCI (Business Continuity Institute): BCI offers the CBCI certification and training for business continuity and resilience professionals, an adjacent discipline to enterprise risk management. Comparable as a peer professional body with similar membership and credentialing model.
Broad incumbents
- ISACA: ISACA is a large global professional association for IT governance, risk, and cybersecurity, offering CRISC and CISA certifications. Comparable in offering GRC-related credentials and training to a professional audience that overlaps with IRM's cyber and operational risk segments.
- Chartered IIA (Chartered Institute of Internal Auditors): The Chartered Institute of Internal Auditors is the UK standard-setter for internal audit, offering the CIA and CMIIA qualifications. Comparable as an established professional body with a related but distinct governance/risk focus.
Others
- Institute of Actuaries (IFoA): The IFoA is a UK-based chartered professional body for actuaries whose members work extensively in enterprise risk management (especially insurance and pensions ERM). Comparable in serving risk-focused professionals through chartered credentials and CPD programmes, though its actuarial specialty differs from IRM's generalist ERM focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
The Institute of Risk Management social profiles
Digital presenceThe Institute of Risk Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Institute of Risk Management leadership team
Management profileNumber of profiles
Profiles4 records
The Institute of Risk Management subsidiaries and ownership
Company hierarchySubsidiaries2 records
The Institute of Risk Management funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Institute of Risk Management M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about The Institute of Risk Management
What does The Institute of Risk Management do?
The Institute of Risk Management (IRM) is a non-profit professional membership body that delivers internationally recognised qualifications (including OFQUAL-regulated Level 4 and Level 5 certificates and unregulated awards in AI, financial services, and organisational risk), training courses (notably the two-day Fundamentals of Risk Management aligned with ISO 31000), e-learning, in-house corporate training, advisory services, and a global member community across 143 countries. It also publishes the quarterly Enterprise Risk Magazine and operates a licensed provider network that delivers IRM-branded training globally.
Is The Institute of Risk Management a public or private company?
The Institute of Risk Management is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was The Institute of Risk Management founded?
The Institute of Risk Management was founded in 1986. It employs 101 to 250 people.
Where is The Institute of Risk Management based?
The Institute of Risk Management is headquartered in London, United Kingdom, in the Europe region.
How does The Institute of Risk Management make money?
Four revenue lines are on record. Professional Membership is the primary driver. The others are training and Course Delivery, qualifications and Certifications and licensed Provider Program.
Who are The Institute of Risk Management's main competitors?
Direct peers on record are RIMS (Risk and Insurance Management Society), GARP (Global Association of Risk Professionals) and PRMIA (Professional Risk Managers' International Association). Regional players are AIRMIC (Association of Insurance and Risk Managers in Industry and Commerce), FERMA (Federation of European Risk Management Associations) and Institute of Risk and Resilience (RISKS, Saudi Arabia). BCI (Business Continuity Institute) is listed as an emerging player. Broad incumbents are ISACA and Chartered IIA (Chartered Institute of Internal Auditors). Institute of Actuaries (IFoA) is listed as an others.
Does The Institute of Risk Management have an API?
No public API is recorded for The Institute of Risk Management.