IRMSA applied to SAQA to be part of the pilot project for the recognition of professional bodies and the registration of professional designations. SAQA will select eight professional bodies which will include a mix of different bodies (two statutory and six non‐statutory bodies; small, medium and large bodies; long-standing, newly established or emerging bodies; operating in one or more economic sectors; and so on).
Members of IRMSA are well aware of the excellent work already accomplished by the IRMSA Educational and Technical Committee, under the leadership of Pieter le Roux. At the IRMSA Annual Conference in 2009, the Institute received a mandate from stakeholders to develop an occupational qualification for Risk Managers. From that point, IRMSA has been extremely active in ensuring that the Institute is prepared for the process to become a recognised professional body. The Institute feels that it is in a position where it will benefit IRMSA and SAQA to be accepted as one of the bodies for the Pilot Phase.
Currently, IRMSA has three levels of Individual Membership: Ordinary Member, Associate Member and
Fellow Member. This membership breakdown will continue to be used as one route once IRMSA has registered the different levels of designations and will include another route where members will need to complete Board Exams in order to be able to use the designations that will be registered with SAQA.
IRMSA will register the following designations with SAQA:
· IRMSA: Risk Manager Member (IRMSA: RMM);
· IRMSA: Risk Manager Associate (IRMSA: RMA);
· IRMSA: Risk Manager Fellow (IRMSA: RMF);
· IRMSA: Risk Manager Practitioner; (IRMSA: RM Prac); and
· IRMSA: Risk Manager Professional (IRMSA: RM Prof).
IRMSA has successfully registered the “Risk Manager” occupation on the Organisational Framework for Occupations (OFO). Furthermore, IRMSA has been in partnership with BANK SETA to develop the Organisational Risk Officer occupation qualification. IRMSA is committed to the QCTO process, future learners and members. The higher‐level occupational curriculum and qualification for “Organisational Risk Officer (ORO)” has been developed and evaluated by the core committee.
IRMSA has now set the next process in motion to develop the lower‐level occupational qualification for Risk Practitioners. This will ensure progression from the lower QCTO qualification to the ORO QCTO qualification. Both qualifications will be generic and fit for anybody wanting to study Risk Management and therefore applicable to various industries be it in banking, insurance, construction, as the qualification will address generic Risk Management Principles.
Feedback from SAQA will be given to organisations who have submitted proposals to participate in the
Pilot Project on 13 September 2011. IRMSA is extremely excited to participate in the project, but is also aware that a great number of organisations have put proposals forward. It is satisfying for the organisation to know that it is at a point where it is able to participate as one of the bodies and would be able to contribute successfully to the initiative.
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