The Certified Operational Risk Expert (CORE) certification is a distinguished credential developed to equip professionals with the knowledge, tools, and methodologies needed to identify, assess, mitigate, and monitor operational risks in dynamic business environments. Operational risk—arising from failed processes, systems, people, or external events—has become one of the most significant challenges organizations face today. The CORE program is designed to provide a comprehensive, structured understanding of operational risk management (ORM), ensuring that participants can protect business value, reduce losses, and strengthen organizational resilience.

As organizations expand digitally, adopt automation, and interact with increasingly complex global supply chains, the nature and scope of operational risk has evolved. The CORE certification delves into core principles of risk identification and control, root cause analysis, loss event data management, business process assessments, and incident response frameworks. It equips learners with practical strategies for integrating operational risk into enterprise-wide risk systems, enhancing organizational decision-making, and aligning risk mitigation initiatives with regulatory expectations. By combining theory with hands-on best practices, CORE prepares professionals to be strategic leaders in the field of operational risk.

Certification Program Objectives:

Upon completing the Certified Operational Risk Expert (CORE) program, participants will be able to:

• Understand Operational Risk Frameworks: Grasp core concepts, classifications, and industry-aligned ORM frameworks such as Basel II/III and ISO 31000.
• Identify and Assess Operational Risks: Learn to analyze critical business functions and identify risk exposures through scenario analysis and control assessments.
• Establish Internal Controls and Monitoring: Design and implement controls, key risk indicators (KRIs), and early warning systems to mitigate and manage risk.
• Utilize Risk Data and Analytics: Analyze internal and external loss events, trends, and near misses to enhance reporting and strategic response.
• Build an Operational Risk Culture: Embed risk awareness, accountability, and ethical behavior across departments through communication and training.
• Ensure Regulatory and Audit Compliance: Align operational risk practices with compliance requirements and conduct thorough audit readiness assessments.

Certification Eligibility Criteria:

To apply for certification from The American Institute of Business and Management (AIBM) and its allied institutions, candidates must meet at least one of the following criteria:

• A Bachelor’s degree from a recognized institution

And/or

• 2 to 5 years of relevant work experience in the related professional field.

Note: Applicants who do not hold a Bachelor’s degree but possess exceptional professional experience and hold significant positions within their organizations in a relevant field may also be considered for certification on a case-by-case basis, subject to the approval of the AIBM evaluation committee.

Certifying Examination:

• To be certified as CORE, student should take up a 1.5 hours online exam conducted by AIIM.
• The qualifying exam would consist of 50 multiple choice questions, testing core certification modules.
• Professionals with relevant experience and other qualifying criteria may be exempted from the examination.

Certification Modules:

• Module 1: Fundamentals of Operational Risk Management
• Module 2: Risk Identification, Control Assessment, and Mapping
• Module 3: Loss Event Management and Data Analysis
• Module 4: Key Risk Indicators, Metrics, and Reporting
• Module 5: Control Design, Monitoring, and Testing
• Module 6: Operational Risk Governance, Culture, and Compliance

* The modules of the certification are constantly updated and are subject to change.

Who Should Do This Certification:

The CORE certification is ideal for professionals seeking to specialize in operational risk management and ensure their organizations remain resilient in the face of day-to-day business disruptions and systemic vulnerabilities. This program is particularly beneficial for:

• Operational Risk Managers and Analysts: Professionals directly involved in assessing, tracking, and managing operational risks will gain actionable knowledge and globally accepted practices to strengthen their ORM framework.
• Process Improvement and Business Continuity Experts: Those responsible for process optimization, internal controls, and incident response planning will benefit from strategies that align risk control with resilience and recovery objectives.
• Internal Auditors and Risk Assurance Officers: Audit professionals can expand their expertise in evaluating operational controls, identifying weaknesses, and recommending corrective actions across functions.
• Compliance and Regulatory Officers: Individuals ensuring compliance with regulations such as Basel, GDPR, SOX, and others will find the CORE certification a strong complement to their risk oversight responsibilities.
• Banking, Insurance, and Financial Services Professionals: Risk professionals working in highly regulated industries will gain tools for addressing fraud risk, transaction errors, system outages, and operational compliance issues.
• IT Risk and Cybersecurity Officers: As digital transformation increases exposure to IT failures and cyber threats, technical professionals can integrate operational risk insights to support system integrity and incident response.
• Consultants and Risk Advisors: Specialists advising clients on enterprise risk strategy or transformation initiatives will benefit from a deep, operationally grounded understanding of business risk exposure.
• Operations and Quality Assurance Managers: Managers in charge of delivering consistent, secure services and products can embed proactive risk monitoring and response into their operational playbooks.

The CORE certification is tailored for professionals across industries—finance, healthcare, manufacturing, logistics, and more—who are committed to embedding robust operational risk practices into their organizations, minimizing unexpected losses, and promoting long-term operational excellence.