IF Formula

I am trying to write an IF formula to convert a single select text option into a numerical value, but am receiving an #INVALIDOPERATION error message. Formula is below. Can you advise where I am going wrong?

=IF({Level of Scrutiny} = "High", 2, IF({Level of Scrutiny} = "Moderate", 1, IF({Level of Scrutiny} = "Low", 0)))

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