This certification programme covers RBI regulatory expectations, technology risk assessment, operational resilience, IT outsourcing, audit, cloud governance and AI risks, supported by 40+ industry case studies and 20 practical toolkits.
The Risk Management Association of India (RMAI) has announced the launch of its new Certificate Course in IT Risk & Technology Governance in Financial Institutions, designed to strengthen technology risk management, governance and regulatory compliance capabilities across the banking, financial services and insurance (BFSI) sector.
Offered through Smart Online Course, the programme provides structured, practical learning for professionals responsible for managing, supervising, auditing and governing technology-related risks in financial institutions.
The course comprises 7 specialised modules, 46 video lectures, more than 40 industry case studies and 20 practical implementation toolkits, with approximately 25 to 30 hours of learning. It also offers dual certification opportunities through RMAI and the BFSI Sector Skill Council of India, subject to successful completion and applicable assessment requirements.
Why IT Risk and Technology Governance Have Become Critical for Financial Institutions
Technology has become central to banking operations, payment systems, lending platforms, insurance services and customer engagement. However, increasing technology dependence also exposes financial institutions to operational disruptions, unsuccessful system migrations, third-party failures, data security incidents and weaknesses in digital infrastructure.
Technology risk extends well beyond cybersecurity. A failed core banking migration, a prolonged payment system outage, inadequate IT change controls or the failure of a critical technology service provider can have significant financial, operational, regulatory and reputational consequences.
These risks also raise important questions regarding Board oversight, management accountability, internal controls, technology resilience and independent assurance.
The Reserve Bank of India has reinforced these responsibilities through its Master Direction on Information Technology Governance, Risk, Controls and Assurance Practices, 2023, and the Master Direction on Outsourcing of Information Technology Services, 2023.
Financial institutions are therefore expected to maintain appropriate governance arrangements, identify and control material technology risks, strengthen operational resilience and exercise effective oversight of outsourced technology services.
The new RMAI certification programme has been developed to help professionals understand these requirements and apply technology risk management principles within their organisations.
Seven Specialised Modules Covering the Technology Risk Lifecycle
The programme follows a structured learning approach covering governance, risk assessment, technology operations, third-party arrangements, assurance and emerging technologies.
The seven modules are:
- IT Risk & Technology Governance Fundamentals: Understanding technology dependencies, enterprise risk, governance structures and accountability across the Board, senior management and technology functions.
- IT Governance Framework, Strategy & Regulatory Expectations: Examining Board oversight, IT Steering Committees, RBI directions, technology strategy, IT policies and technology project governance.
- IT Risk Assessment, Information Assets, Controls & Risk Reporting: Developing skills in technology risk identification, inherent and residual risk assessment, risk appetite, information asset management, Key Risk Indicators (KRIs) and risk reporting.
- IT Operations, Change Management, Resilience & Business Continuity: Covering technology incidents, change controls, business impact analysis, business continuity planning, disaster recovery and resilience testing.
- IT Outsourcing & Third-Party Technology Risk Management: Addressing vendor materiality, due diligence, outsourcing contracts, service-level agreements, concentration risks, fourth-party dependencies and exit planning.
- IT Audit, Compliance Monitoring & Technology Assurance: Understanding IT General Controls, application controls, risk-based IT auditing, control testing, audit findings and regulatory examination readiness.
- Cloud, Digital Technology & AI Risk Governance: Examining cloud infrastructure, API ecosystems, digital banking platforms, artificial intelligence governance, model risk, third-party AI dependencies and operational resilience.
The curriculum is intended to connect technology risk concepts with practical governance and control responsibilities across different functions within financial institutions.
Learning From 40+ Real Industry Case Studies
A significant feature of the programme is its case-study-based learning methodology.
Each lecture connects a technology risk concept with a practical example or documented industry case. The curriculum examines incidents and regulatory developments involving organisations such as:
- RBS, NatWest and Ulster Bank (2012): Technology infrastructure failure and service disruption.
- TSB Bank (2018): Core banking migration failure and technology change management.
- HDFC Bank (2020): Digital banking disruptions and subsequent RBI supervisory restrictions.
- DBS Bank (2023): Digital banking service disruptions and technology resilience.
- Kotak Mahindra Bank (2024): RBI supervisory action concerning IT risk management and technology controls.
- CrowdStrike (2024): Technology concentration, third-party dependencies and global operational disruption.
These cases allow participants to examine the underlying risk, identify governance or control deficiencies and understand how institutions can strengthen their preventive and corrective arrangements.
20 Practical Toolkits to Support Workplace Implementation
Beyond theoretical understanding, the programme provides 20 practitioner resources, comprising 19 editable Excel and Word templates and an industry reading and regulatory reference pack.
The toolkits include:
IT Governance RACI Matrix,
Board Technology Reporting Pack,
RBI Technology Risk Gap Assessment Checklist,
IT Risk Register,
Technology KRI Library,
Risk Appetite Statement,
Technology Risk Dashboard,
Incident Register,
Business Impact Analysis Worksheet and
Disaster Recovery Drill Plan.
Additional resources support vendor due diligence, outsourcing contract reviews, cloud exit planning, IT audit procedures, audit remediation tracking and AI model risk assessment.
These tools are designed to help participants translate course learning into practical activities such as technology risk assessments, management reporting, internal control reviews and vendor risk monitoring.
Interactive Technology Risk Simulation and AI Learning Support
The course also includes an interactive technology risk case study involving a fictional financial institution facing suspected customer-data exposure and unusual API-driven loan disbursements.
Participants explore interconnected technology systems, assess inherent and residual risks, evaluate control measures, make incident response decisions and examine governance responsibilities.
The simulation includes a technology risk assessment laboratory, incident decision simulator, accountability map and scenario-based knowledge checks.
An integrated AI Mentor provides additional learning support by explaining course concepts, helping participants prepare for assessments and guiding them in the use of practitioner templates.
Who Should Enrol?
The programme is designed for professionals working in banks, NBFCs, insurance companies, FinTech organisations and other financial institutions.
It is particularly relevant for IT Risk Managers, Operational Risk and Enterprise Risk Management professionals, Compliance Officers, Internal Auditors, IT Auditors, Information Security professionals, Vendor Risk Managers and Technology Project Managers.
It is also suitable for professionals working in CIO, CTO and CISO offices, IT Steering Committees, digital banking operations and technology governance functions.
A specialised technical background is not mandatory. The programme introduces relevant concepts systematically and explains their application through BFSI examples.
Dual Certification From RMAI and BFSI Sector Skill Council of India
On successful completion of the programme and fulfilment of applicable assessment requirements, eligible participants can receive two certificates:
Certificate 1: Joint Certificate of Completion from the Risk Management Association of India (RMAI) and Smart Online Course.
Certificate 2: Certificate issued by the BFSI Sector Skill Council of India (BFSI SSC), an initiative of the National Skill Development Corporation (NSDC) under Skill India.
The final assessment is conducted by BFSI SSC. The certification structure is intended to support professional capability development in technology risk management, governance and assurance within the BFSI sector.
Flexible Self-Paced Learning for Working Professionals
The programme is delivered online through Smart Online Course, allowing professionals to learn at their own pace without interrupting their regular work responsibilities.
Participants receive access to video lectures, module-wise study materials, MCQ assessments, industry case studies, practical templates, reference resources and the AI Mentor.
The estimated total learning commitment is 25 to 30 hours, including video learning, assessments and practical activities. Course access is valid for 120 days.
Banks, NBFCs, insurance companies and other financial institutions can also enquire about group enrolments and corporate capability-building programmes.
Course Fee and Enrolment Details
The programme is currently offered at a special introductory fee of ₹8,499, including GST, against the listed fee of ₹15,000.
Professionals seeking to strengthen their understanding of IT governance, technology risk assessment, regulatory expectations, operational resilience and emerging technology risks can explore the detailed curriculum and enrol through Smart Online Course.
View Full Course Details and Enrol
For corporate training and group enrolment enquiries:
Email: info@smartonlinecourse.org
Phone: +91 8232 083 010
Certification is subject to successful course completion and applicable assessment requirements. Course fees and promotional offers are subject to change.
