How often must individuals take the ORM Fundamentals course?

The requirement for individuals to take the ORM Fundamentals course triennially is based on the understanding that operational risk management is an area that evolves, and periodic training ensures that individuals remain updated on the latest practices, standards, and regulatory requirements over a three-year cycle. A triennial schedule strikes a balance between proficiency refreshment and the reduction of training burden, allowing individuals to apply what they have learned while also giving them time to gain practical experience in the field.

This frequency acknowledges that while continuous learning is important, it also needs to be manageable within the context of regular professional duties and responsibilities. Maintaining a triennial requirement helps ensure that the knowledge remains relevant, taking into account that significant changes in ORM practices and the regulatory environment may occur over that time frame. Hence, the three-year interval is considered an effective approach to sustain competency and awareness in operational risk management.