Help converting a simple IF formula to a column formula


Can someone advise what is wrong in the syntax that is causing it to not be converted to a column formula?

=IF([Inherent Risk Level]1 = "Low Risk / Minor", "1", IF([Inherent Risk Level]1 = "Moderate Risk / Material", "2", IF([Inherent Risk Level]1 = "High Risk / Critical", "3")))

Thank you

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