Risk Management, PRMIA

In a recent tally, the Board members of the Professional Risk Managers' International Association and the Regional Directors from PRMIA’s sixty chapters around the world selected these two international leaders to be honored.

“We're delighted to offer our appreciation to Drs. Merton and Alexander for their contributions to our membership, as well as their lifetime contributions to finance and the risk management profession,” said David R. Koenig, Executive Director of PRMIA.

The PRMIA Higher Standard award is granted to individuals who have significantly impacted the global practice of risk management, provided a substantial contribution to the Mission of PRMIA and its members, and who show an ongoing commitment to the highest standards of the profession. The selection of the winners of this award was made from over one dozen nominees, all of whom are recognizable from their outstanding work.

Prof. Merton graciously donated his thirty year's of lecture notes to PRMIA members in February of 2004. On average, his notes are read more than 600 times each week. Since first being posted they have been read nearly 100,000 times.

“It is no doubt that Dr. Merton's kind contribution has had a global impact on the advancement of understanding of finance and risk management, especially on our association's members,” said Mr. Koenig.

“I am delighted to learn that I have been selected to receive the PRMIA Higher Standard Award this year and am greatly honored,” said Professor Merton. “I am also very pleased by the latest statistics on the wide and frequent use of my teaching notes.”

Prof. Alexander's leadership of the PRMIA Academic Advisory Council, and in particular, her incredible dedication in the creation of the Professional Risk Managers' Handbook have earned her great respect from our leadership, building upon her already well-established reputation in our industry.

The PRM Handbook is now used in over 105 countries and at nearly every major financial institution. It is no doubt that this work has had a global impact on the advancement of understanding of finance and risk management and has been especially helpful to thousands of PRMIA's members.

“I believe proper education in risk management is hugely important to the development of the individual, the company and indeed the whole economy,” said Professor Alexander. “PRMIA and I share a dedication to setting proper standards for the risk management profession, and helping candidates from all over the world achieve those standards, especially candidates in less developed countries.”

In honor of this award, the PRMIA Institute will provide two US$1,000 grants to a scholar or student in the field of risk management, one each selected by Professors Merton and Alexander.