Risk Management, PRMIA

PRMIA Sustaining Members will have an opportunity to access the complete survey results report within the next several weeks via the Exclusive Content box on PRMIA's website. Watch your e-mail for more information.

Posted by PRMIA_Marketing at 10:19 AM | Comments (0)

July 24, 2009

PRMIA Appoints New Co-Regional Director, David Munro, to the South African Chapter

PRMIA announces today the appointment of David Munro to the position of Co-Regional Director of the South African chapter. David is a finance and risk solutions specialist at Absa Capital, an affiliate of Barclays Capital. He will be working alongside current Co-Regional Director Greg Goeller to lead the chapter. David's current position involves providing financing and risk management solutions to a wide range of financial institutions including development funding institutions. David has been a PRMIA member since 2003 and is a PRM holder.

David's goals for the chapter include enhancing awareness of PRMIA in the South African financial market as a superior risk management professional organization, promoting constructive dialogue between senior risk management professionals, promoting the growth and stature of PRMIA in South Africa, working to grow the current steering committee and promoting the benefits and use of PRMIA training tools and exams to develop risk management professionals in South Africa. David is very much aware that his role will involve enhancing the risk management profession at a government and government agency level as the South African economy develops further in a sustainable manner. In addition David has a strong network in the financial services industry in South Africa.

PRMIA looks forward to seeing the expanded growth and activities in South Africa and wishes David success in his new role.

Posted by kgittins at 08:50 AM | Comments (0)

July 21, 2009

New Chapter Opening in Ireland

PRMIA announces today a new chapter in Ireland. Leading the chapter will be Co-Regional Director Justin McCarthy. Justin, a VP with Bank of America - Merrill Lynch is a former employee of PricewaterhouseCoopers. He has been a PRMIA sustaining member since 2006 and is currently working toward obtaining his PRM.

Roger Kumra, the other Co-Regional Director, will be unable to take up the position due to his move to Cyprus. PRMIA would like to thank Roger for all of his work in establishing the Irish chapter. His motivation, energy, enthusiasm and drive accomplished an incredible amount in the last few months. In addition to already holding two events he and Justin have been able to recruit an excellent steering committee and establish a strategy for the chapter to provide many future opportunities for the Irish membership. Justin and Roger are working with the current steering committee to find another Co-Regional Director.

PRMIA thanks the current Steering Committee members for their work in helping to establish the chapter:
•Professor John Cotter, Director of Centre for Financial Markets, UCD School of Business, University College Dublin
•Peter Crilly, Director of Operational Risk, Bank of Scotland Ireland
•Keith McCarthy, IT Audit Manager, Anglo Irish Bank Corporation Limited
•Nicholas Pratt, Freelance Journalist
•Alberto Ulloa, Senior Manager, Enterprise Risk Services, Deloitte & Touche

The chapter's mission is to propagate the leading edge risk management expertise and ideas, to provide a forum for learning by sharing and discussion, and to encourage and facilitate our members to demonstrate their credibility by the use of established certification. The chapter's goals include:

•To hold a number of talks (initially four) aimed at a mass (risk management) audience.
•To provide the facility for our members to hold ad hoc meetings (focus groups and presentations) to address particular needs, for example to better understand the impact of a new regulatory directive.
•To provide opportunities for our members to leverage off of each other to gain a better understanding of the content of the PRM and APRM.
•To increase the understanding of 'modern' risk management practice within Ireland.
•To push PRMIA membership within Ireland to all areas of financial risk management.
•To create links to academics and academic institutions. This should enhance the status and relevance of relevant research in Ireland and bring more theoretical aspects into risk management in Ireland (with the clear understanding that a good understanding of the business is essential for all risk management decision making)

PRMIA wishes Justin success in his new role and looks forward to seeing activities in Ireland. We wish Roger all the best in his move and thank him immensely for his work in creating the chapter.

If you are interested in receiving information about the Ireland chapter including event invitations, please edit your profile to include the Ireland chapter. Steps to do this are:
•Login to your PRMIA useraccount
•Click the 'manage my profile' link underneath the welcome message
•Click the 'edit my profile' link
•In the chapter listings tick the box next to the Ireland chapter
•Scroll down and click the update button

Posted by kgittins at 10:59 AM | Comments (0)

PRMIA and CMRA find that Credit Losses, Volatility and Government Changing the Rules are the greatest concerns of Risk Managers for 2nd Half 2009

PRMIA and Capital Market Risk Advisors (CMRA) today released preliminary findings of their risk governance survey, which also asked about the primary concerns of risk professionals for 2nd half 2009.

"The survey confirms our anecdotal findings that the government's inconsistency remains a major concern," said Peter Niculescu, a Partner at CMRA.

Over 140 participants from 27 countries participated in the survey, with the majority from the U.S. 32.4% of the respondents were from banks/investment banks, 22.4% from asset managers, and 13.8% from insurance companies. 34.7% of respondents had assets of $100B+.

Click here to see the top concerns for 2nd half 2009.

Banks ranked credit risk as their #1 concern (1.26) and "government changing the rules" as their #2 concern, while ranking volatility (2.63) as considerably less a fear than did asset managers, insurance companies and plan sponsors/endowments/foundations.

"PRMIA and its C-Suite subgroup have been leaders in facilitating interactions among Chief Risk Officers (CROs) across industry lines and we are confident that the Risk Governance Survey of which this question re greatest concerns for 2nd half 2009 was one component, will help inform best practices," said Steve Lindo, PRMIA's Executive Director.

The results of the Risk Governance Survey will be released on July 28. Participants will receive detailed, customized results comparing their practices to their peer group.

Posted by PRMIA_Marketing at 08:08 AM | Comments (0)

July 15, 2009

PRMIA Names PRM Candidate of the Year

PRMIA has named Mukul Pareek, an Account Management Associate at Bridgewater Associates, the 2009 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 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.

"The entire award committee was very impressed by Mukul, and we congratulate him on this achievement," says David Millar, PRMIA Chief Operating Officer. "He excelled on his exam results, written essay and interview, and proved that he is deserving of this prestigious award."

Mukul Pareek says, "I am honored to have been chosen for this award. Preparing for the certification exams provided me with two invaluable benefits: firstly, a conceptual understanding of markets, risk, reward and regulation that any market professional needs in a dynamic business environment, and secondly, an understanding of the tools to immediately apply the theory, whether in the form of over a dozen detailed case studies, or spreadsheet based modeling for the kind of issues asset managers and risk professionals have to deal with each day."

He adds, "If one is really interested in enhancing one's knowledge of the contemporary thinking on risk beyond the superficial, the PRM certification provides a very well structured route to do so. The self-contained course material is head and shoulders above anything else I could compare it to."

Click here for a full list of 2009 award recipients, as well as past winners.

Posted by PRMIA_Marketing at 03:46 PM | Comments (0)

July 02, 2009

PRMIA's New Chinese Exams Introduced at 2009 Financial Risk Management Forum in China

On Sunday, June 28th, the 2009 Financial Risk Management Forum co-organized by Institute of Finance & Banking of Chinese Academy of Social Sciences (CASS) and TEHUA Post-Doctoral Research Station and sponsored by PRMIA and the Prming Education Counseling Corporation in China (PECC) was held at the Academic Report Hall of CASS in Beijing.

The theme of this forum was "Financial Crisis and Financial Risk Management". Present at the forum were current and former officials and experts from regulatory bodies, professors and scholars from universities and other institutes of learning, and representatives from Chinese financial associations and banks.

With speakers from Chinese regulators, state and academic bodies and local banks, heated discussions were held on how to strengthen risk management in China against the backdrop of the global financial crisis. China protected itself well against the 1997 Asian financial crisis and now needs to ensure it emerges from the current crisis in a strong state. Risk management, long ignored by many financial institutions, grows in importance and the studying financial risk management theories and practices, as well as experience and cases with regard to the prevention of financial risks, and enhancing risk management awareness and abilities of practitioners has become an important and urgent topic for China's financial industry.

This forum also introduced PRMIA's new Chinese exams and its committee of local experts and is a milestone in our introduction of international risk management experience into China.

Click here to see a copy of the entire press release regarding this event.

Posted by PRMIA_Marketing at 03:53 PM | Comments (0)