Purpose
The IRMSA Risk Competency Assessment Tool is a tool that allows risk stakeholders to evaluate their skills and knowledge against industry standards. It serves to identify both strengths and areas for development, providing valuable insights that inform targeted learning, professional development, and growth initiatives.
The tool is divided into two competency development pathways,
- IRMSA Certification (Certified Risk Management Practitioner or Certified Risk Management Professional) or
- Personal & Career Development.
Risk Competency Categories explained
The IRMSA Risk Competency Model equips professionals to make informed decisions, show measurable growth, and strengthen organisational resilience and sustainability. Built on international standards and benchmarking, it provides a framework for continuous learning and skill relevance in an evolving risk landscape.
The IRMSA Risk Competency Model comprises 4 primary categories and 5 competencies per category:
| Cognitive Competency | A set of mental abilities and skills that help risk stakeholders acquire, process, and use knowledge effectively. These competencies cover thinking, problem-solving, and information processing, supporting learning, adaptation, and success in education, work, and daily life. |
| Functional Competency | The specific skills, knowledge, and abilities that individuals or organisations possess and use to execute the risk management program effectively. |
| Business Enabler Competency | The ability of individuals, teams, or organisations to effectively collaborate and integrate expertise and skills from various functional areas to identify, assess, mitigate, and capitalise on risks and opportunities. |
| Behaviour and Attitude Competency | A set of skills enabling individuals and organisations to effectively handle social and interpersonal challenges or opportunities. These competencies are essential for managing the human and social factors that influence outcomes for people and groups. |
Table 1: Risk Competency Categories
Diagram 1: Competencies per Risk Competency Category
Risk Competency Proficiency (Skills, Knowledge & Ability) Levels explained
Proficiency levels provide a structured approach to assess, benchmark, and develop risk management capabilities within an organisation. Integrating professional growth, lifelong learning, and benchmarking ensures that risk management skills evolve in line with industry standards and organisational needs. The proficiency levels are based on the South African National Qualifications Associations’ national qualification framework (NQF) levels, IRMSA membership types and Blooms taxonomy.