June 27, 2008
PRMIA Names Milosz Glinski PRM Candidate of the Year
PRMIA today named Milosz Glinski, a Consultant with Ernst & Young Corporate Finance in Warsaw, Poland, the 2008 PRM Candidate of the Year.
The Professional Risk Manager (PRM) designation program is the global standard for the world's top financial risk professionals. The PRM Candidate of the Year award program annually recognizes top PRM candidates from around the world. There are four awards given: the prestigious PRM Candidate of the Year award, the four other finalists for the top award, the Award of Merit for those whose exam scores across multiple exams distinguish them from the rest of the candidates, and the PRM Focus Award for candidates who have achieved the highest score of the year on the four individual exams of the PRM designation program.
"Every year the number of top quality exam candidates increases and this year was no exception," says David Millar, PRMIA Chief Operating Officer. "Selection for the Candidate of the Year, which is based on exam results, a written essay and an interview, gets no easier with an amazing level of quality on show. Milosz was an outstanding candidate who figured near the top with all reviewers. His exam results were outstanding and stood out over the other 1,2000 PRM exams taken during that same period; his written material showed both understanding and insight into the value of risk management; and his passion for the subject was evident during his interview. It is with great pleasure that we have been able to name Milosz PRM Candidate of the Year for 2008."
Milosz Glinski says, "I am honored to have been selected as PRM Candidate of the Year. I am very glad to learn that many of the fellow finalists also come from outside the risk management profession. This demonstrates the growing importance and awareness of risk management in business organizations around the world."
Marcin Borek, Partner, Business Advisory, Ernst & Young, congratulates Milosz on his accomplishment, "We are very proud of Milosz's success, especially because he stood out over so many great candidates. We wish him further development and spectacular professional achievement."
A full list of 2008 award recipients is listed below. Click here for a list of past winners.
PRM Candidate of the Year 2008
Milosz Glinski, Ernst & Young Corporate Finance, Warsaw, Poland
2008 Candidate of the Year Finalists
Simon den Hertog, ING Bank, Amsterdam, Netherlands
Stefan Wilke, Basycon Unternehmensberatung GmbH, Munich, Germany
Peter Wood, UW Faculty of Mathematics, Waterloo, Ontario, Canada
Yau Man Chun, HSBC Insurance, Central Hong Kong, Hong Kong
2008 Award of Merit
Goran Amon, Microsoft, Zagreb, Croatia/Hrvatska
Sebastien Forte, M.Sc. Financial Engineering Student HEC Montreal, Levis, Quebec, Canada
Pranav Dheeraj Gundlapalle, Lehman Brothers, Tokyo, Japan
Etienne Parent, Graduate Student, University of Chicago, Chicago, United States
Ashish Kumar Singh, Securities Exchange Board of India, Mumbai, India
Waldemar Stachowiak, Citibank Warsaw, Warsaw, Poland
Wang Chuan, Student, Princeton University, Princeton, United States
2008 Focus Award Winners
Exam 1
Pranav Dheeraj Gundlapalle, Lehman Brothers, Tokyo, Japan
Exam 2
Pranav Dheeraj Gundlapalle, Lehman Brothers, Tokyo, Japan
Wang Chuan, Student, Princeton University, Princeton, United States
Yau Man Chun, HSBC Insurance, Central Hong Kong, Hong Kong
Maxwell Brothers
Yuping Liu, Wachovia Bank, Charlotte, United States
Harjeet Singh, Student, Mumbai, India
Ashish Kumar Singh, Securities Exchange Board of India, Mumbai, India
Sivananth Ramachandran, ICICI Bank, Mumbai, India
Evan Griffiths, Genworth Financial, Helsinki, Finland
Feng Chen, UOB Group, Singapore, Singapore
George Mansourati, PricewaterhouseCoopers, Stockholm, Sweden
Shibashish Bhattacharjee, Market Rx, Nagpur, India
Kulpreet Khanuja, Tata Consultancy Services India, Pune, India
Arnaud Gaxotte, Hermes International, Paris, France
Philip Jones, United Kingdom
Konrad Birycki, Deloitte Advisory Sp. z o. o., Warsaw, Poland
Sebastien Forte, M.Sc. Financial Engineering Student HEC Montreal, Levis, Quebec, Canada
Kianli Lim, Exane Derivatives, Singapore, Singapore
Maria El Khomsi, Paris, France
Exam 3
Mihai Mirauta, Konstanz, Germany
Jie Sun, NUS, Singapore, Singapore
Exam 4
Eric Wolfe, HSBC Global Asset Management, London, United Kingdom
Christoph Janssen, Vinhedo, Brazil
Posted by PRMIA_Marketing at 02:18 PM
| Comments (0)
June 19, 2008
PRMIA Appoints New Regional Director to the Singapore Chapter
PRMIA announces today Lawrence Ho as the new Regional Director of the Singapore chapter.
Lawrence is the Director, Financial Services Support, Financial Products/Bank Training of KPMG in Singapore.
PRMIA wishes Lawrence success in his new role.
Posted by kgittins at 09:30 AM
| Comments (0)
June 18, 2008
PRMIA Global Risk Survey Benchmarks the Role of Enterprise Risk Management in Current and Future Business Processes
PRMIA today released the results of its global Enterprise Risk Management (ERM) survey titled "ERM – A Status Check on Global Best Practices". Supported by Microsoft's Risk and Compliance solutions industry group, this survey was designed to benchmark the current state and future direction of ERM practices around the world. Respondents came from 103 countries and included numerous specialties including risk practitioners, regulators responsible for ERM, consultants and/or vendors working in ERM, and PRMIA members in other related professional roles.
The survey results point to the emergence of ERM as a key component of current and future business processes. Robert R. Reitano, Professor of the Practice in Finance, Brandeis University, International Business School, and one of the main contributors to the PRMIA survey content, highlights some of the key findings of the survey:
Overall, 90% of respondents confirmed that ERM is very much a part of their current or future business process. While 41% confirmed that their organization has a well-defined ERM program in place, 49% of respondent ERM programs are in various stages of development.
Business strategy risk was perceived as the key ERM risk, followed closely by credit, market and operational risks, although when asked to rank risks quantitatively, business strategy risk fell to fourth place.
With respect to implementation and adoption, training and top-down support were cited as the most critical factors for a successful ERM program.
Over 70% cited "industry best practices" as the goal of their ERM program; most of the rest targeted "above regulatory minimums" in various degrees.
On average, participant companies are allocating about 3-3.5% of operational costs to their ERM programs, but identify 4.5-5% as what is needed for a successful and meaningful ongoing program.
75% of participants used their ERM risk measurements in the setting of target capital for their firms.
As a part of the PRMIA Global Event Series, PRMIA chapters around the world hosted a series of global events to discuss these ERM survey results. Sai Sireesh, Microsoft's Worldwide Director for Risk and Compliance solutions and PRMIA Seattle Co-Regional Director who also actively supported the global survey, shares his perspective on the response to the survey results, "PRMIA Seattle hosted a roundtable to share and validate the global ERM data points. The interactive session stimulated some animated and interesting insights from a cross section of risk practitioners from various industry sectors." Sireesh adds, "Especially of interest were the implementation and adoption-related findings. The ERM survey results, along with the industry roundtable insights, provided a good validation of some of the common issues that we as a solution provider help resolve during implementation of ERM initiatives and blueprints, for example in the area of ease of use, familiarity of ERM tools and ERM as part of everyday workflows and business processes."
The PRMIA "ERM A Status Check on Global Best Practices" survey is available for download to sustaining members from www.prmia.org.
PRMIA GLOBAL EVENT SERIES ERM EVENT HIGHLIGHTS
PRMIA Montreal
"PRMIA Montreal's event on Enterprise Risk Management on April 9, 2008 was a solid success with 70 people in attendance and sponsorship from SAS, KPMG and the Montreal Exchange. The event presented three knowledgeable speakers on ERM from New York and Montreal from AON, Algorithmics and KPMG who had a very complementary approach to one another. The level of engagement of the attendees was also quite significant and demonstrated best during the question period which lasted 45 minutes instead of the 15 minutes originally allocated. We look forward to organizing more events in the future in Montreal and hope they are just as successful. All presentation material is available on the PRMIA Montreal webpage."
- Faruk Patel, Co Regional Director of PRMIA Montreal
PRMIA Philippines
"The April 21 ERM Forum conducted by the PRMIA Philippine Chapter was very successful. The participants, primarily composed of CROs, CFOs and risk managers from varied sectors, appreciated the topic because it was relevant to their respective functions in their institution. Being a guru on ERM and COSO framework, the speaker discussed the ERM framework comprehensively by giving examples and 'live' cases which were highly appreciated by the participants. The lengthy open forum enabled the participants to gain practical tips and tools to meet the challenges of Basel II, particularly on managing operations risk."
- Sophie Ladores, Co Regional Director of PRMIA Philippines
PRMIA Boston
"The Boston Chapter was privileged to have presentations by James Lam, one of the pioneers of Enterprise Risk Management, and Robert R. Reitano, one of the central figures in PRMIA's global survey on ERM practices. The event was well attended and filled with interactive discussion between the speakers and attendees. Based on the extent of questions and note taking, it was apparent attendees had interest and found value in the discussion."
- Ed Dumas, Regional Director of PRMIA Boston
PRMIA Italy
"After the introduction on ERM made by Emerico Amari, Regional Director of PRMIA Italy, Giampaolo Gabbi presented a survey on use of derivatives in the Italian corporates. Then Roberto Bosco, risk manager at Mediaset, held a speech on enterprise risk management in his firm followed by a presentation made by AON on risk transfer solutions. The workshop was closed by SDA Bocconi professor Cesare Conti with some remarks to risk disclosure in the corporate sector. The audience appreciated all speeches and made some specific questions to the various topics treated by the speakers."
- Emerico Amari, Regional Director of PRMIA Italy
Posted by PRMIA_Marketing at 02:20 PM
| Comments (0)
June 12, 2008
PRMIA Announces Partnership with Kellogg School of Management at Northwestern University
PRMIA today announced a new university partnership with the Kellogg School of Management at Northwestern University.
The Kellogg School, in conjunction with PRMIA, will offer a non-degree executive education course, The Complete Course in Risk Management, beginning in February 2009 in Chicago. This course will provide participants with a broad and solid foundation of knowledge that will prepare them to effectively practice risk management.
"We are very pleased to be partnering with PRMIA and look forward to offering this risk management course at the Kellogg School," said Professor Robert Korajczyk, director of the Zell Center for Risk Research at Kellogg. "As the financial services industry grapples with issues relating to the markets and recent turbulent events, we are seeing increased emphasis on risk management. This course will provide the program participants with the tools they need to lead their firms effectively."
PRMIA, in conjunction with the Kellogg School and its other leading University Partners around the world, seeks to set the international standards for graduate level education in risk management and financial engineering, to offer training and development programs in finance and risk management around the world, and to reinvest the proceeds of these activities into scholarly research, scholarships and further educational efforts.
"The curriculum that we have designed with PRMIA will provide practitioners with the most comprehensive overview of risk management available in the marketplace," said Professor Russell Walker, assistant director of the Zell Center at Kellogg. "In addition to covering market, credit, and operational risk in great detail, we will provide the participants with training in reputational risk, supply chain risk, and how to communicate risk in an organization."
Timur Gok, Regional Director, PRMIA Chicago and Instructor, Department of Finance, Northern Illinois University, added, "PRMIA's partnership with the Kellogg School substantiates the rise of risk management and our higher standards. We are delighted and look forward to collaborating with such an outstanding academic institution."
About the Kellogg School of Management at Northwestern University
The Kellogg School of Management at Northwestern University was founded in 1908 and is widely recognized as a global leader in management education. The school, located just outside of Chicago, is home to a renowned, research-oriented faculty and MBA students from around the globe. The Kellogg School's academic portfolio includes the Full-Time, Part-Time and Executive MBA Programs and the nondegree Executive Education Program. The school offers three joint-degree programs: the JD-MBA, MD-MBA and the Master of Management and Manufacturing (MBA-MEM). Additionally, the Kellogg School offers an Executive MBA Program in Miami and has alliances with business schools in Europe, Asia, the Middle East and Canada. To learn more, visit www.kellogg.northwestern.edu.
Posted by PRMIA_Marketing at 09:13 AM
| Comments (0)
June 02, 2008
PRMIA Honors David R. Koenig with PRMIA Higher Standard Award
David R. Koenig, who has a long and distinguished history with PRMIA, including Chair of the Board of Directors, Executive Director, and President of the PRMIA Institute, was recently awarded the PRMIA Higher Standard Award. This award is given annually to an individual who has made significant contributions to PRMIA and to the risk industry.
Mr. Koenig, along with several other volunteers, formed PRMIA in 2002. Their vision was to solidly anchor the new association in ethical guidelines, transparency, testing standards, courses, and publications that would be better than anything offered by others in the risk profession and always committed to non-profit ideas of service.
Under Mr. Koenig's leadership and supported by volunteers, members, partners, and staff, PRMIA grew from 4,300 members at the end of its first year to an impressive 50,000 members today, spanning more than 180 countries. Throughout these six years, PRMIA has made a tremendous impact on the risk industry, offering the globally recognized Professional Risk Manager (PRM) certification program; providing the highest standard of risk education and training in partnership with leading universities around the world; and holding more than a thousand events throughout its chapter network. Mr. Koenig reached the goals he set out to achieve.
"I am truly honored to have been part of the group that worked to establish PRMIA in service to the risk profession around the world," said David R. Koenig. "This award is shared widely with all who are a part of PRMIA now and who were there at the very beginning."
At the end of September 2007, David stepped down from his professional roles with PRMIA but continues to be involved as a volunteer with the Education and Standards Committee and the Academic Advisory Council. He is now working privately as an advisor to Boards and Executives worldwide and is writing and editing various works on risk management and governance.
Says David Millar, PRMIA Chief Operating Officer, "On behalf of all PRMIA members, staff, and volunteers, we thank David for his contributions to PRMIA and to the risk industry. He played an instrumental role in PRMIA's growth, and his dedication and commitment have left PRMIA poised for continued success."
Past winners of the PRMIA Higher Standard Award include Nobel laureate Dr. Robert Merton of Harvard Business School and Prof. Carol Alexander, Chair of Financial Risk Management and Director of Research at the ICMA Centre, University of Reading.
Posted by PRMIA_Marketing at 09:28 AM
| Comments (0)
