The Institute of Risk Management South Africa (IRMSA) is the Professional Body for Risk Management in South Africa as recognised by the South African Qualifications Authority (SAQA). IRMSA represents individuals and companies committed to the enhancement of the Risk Management discipline. IRMSA serves aspiring risk practitioners, risk professionals and decision makers in Southern Africa.
We are dedicated to the advancement and practice of the risk management profession and accreditation, through research, promotion, education, upliftment, training, guidance and strong relationships with other Institutes and Associations. We promote and support the interest of our members and protect the public interest.
- IRMSA History
IRMSA was formed by merging the Society of Risk Managers (SRM), which was formed in March 1990, and the South African Risk and Insurance Management Association (SARIMA) at a Special General Meeting held in April 2003.
IRMSA’s first General Meeting was held on 3 September 2003, followed by the first IRMSA council meeting on 10 September 2003, at which Kay Darbourn was voted in as the first president of IRMSA. The launch was celebrated with a dinner on 1 October 2003.
On 29 November 2004, IRMSA registered as a Non-profit Organisation with the Department of Social Development. Membership grew from 1,165 in 2014 to 3,225 in 2019 (pre-COVID), and today, we have 3,418 members (2023). Our financial reserves grew from R6 736 063 in 2019 (pre-COVID) to R8 654 344 as at 28 February 2023.
We launched the Certified Risk Management Practitioner (CRM Prac) in 2014, and 33 candidates wrote the exam. By 2022, the number had increased to 120 candidates.
In 2016, IRMSA launched the Centre of Excellence, providing technical support to members and non-members.
IRMSA is a member of the International Federation of Risk and Insurance Management Associations (IFRIMA), the international umbrella organisation representing twenty risk management organisations and over thirty countries worldwide. IRMSA hosted the first IFRIMA board meeting in October 2018 in Johannesburg. IRMSA is also the only African country represented on the IFRIMA Board and one of the key role-players on the Board and EXCO of IFRIMA, especially with the focus on growing risk management in the rest of Africa.
- Get to know IRMSA
We are dedicated to the advancement and practice of the risk management profession and accreditation, through research, promotion, education, upliftment, training, guidance and strong relationships with other Institutes and Associations. We promote and support the interest of our members and protect the public interest.
- IRMSA Strategy
A longer-term strategic plan can elevate IRMSA planning beyond the corporate plan’s annual and Medium-Term Expenditure Framework (MTEF) horizon.
In this light, IRMSA embarked on a process to develop:
A three-year Strategic Plan for 2024/2025-2026/2027. An annual plan that channels the focus on the immediate future and clearly mapping out short, medium and longer term strategies.
In facilitating the process towards the development of the three-year Strategic Plan for 2024/2025-2026/2027, a results-based planning logic model was followed, which informed the approach to the various discussions and the packaging of the arising strategic information.
- IRMSA Constitution
The Constitution downloadable below incorporates the amendments approved by Members at the latest Annual General Meeting - Updated 23 June 2022.