National Occupational Standards

Sector Profile

Risk Management is the process which aims to help organisations identify, understand, evaluate, prioritise and take appropriate action in respect of the organisational risks in order to help the organisation meet their business objectives.

It is relevant to all organisations, large and small, and in public, private and not-for-profit sectors. It is an important skill for all business leaders and professionals and should occupy a distinct place in the culture of every organisation. Risk management functions may be carried out by a dedicated risk manager or alternatively may be spread across a number of roles within an organisation, and are likely to include setting policy and strategy for risk management, championing risk management at strategic and operational levels, building a risk-aware culture within the organisation, establishing internal risk policy and structures, and developing risk response processes.


The Risk Management NOS are designed to be used in all sectors and cover a range of key risk management functions. The comprehensive suite includes the following standards:

  • CFARMA001 Develop a risk management strategy
  • CFARMA002 Develop risk management policies and procedures
  • CFARMA003 Raise awareness of risk management within an organisation
  • CFARMA004 Identify, analyse and assess risk
  • CFARMA005 Manage, monitor and report risk
  • CFARMA006 Monitor and review risk management strategies, policies and processes

The NOS cover occupational functions at a number of levels or responsibility and complexity. They are relevant to anyone involved in the risk management process, including risk managers, risk officers, risk analysts, risk practitioners and risk consultants.

Risk Management (PDF) ⇢

Define the Standards for Your Sector

Our NOS and frameworks have been developed to best represent the skills that you need in your sector. If you would like to join one of our sector-focused steering groups and ensure that training continues to work for your business, please contact us on

We are proud to work with

Instructus Skills is a pan-sector body that represents the training needs of over 11 million employees across the UK. From consultations to certification, we ensure that apprenticeships deliver the skilled workers that employers need.

In other words, we make apprenticeships work.