June 29, 2010
New Regional Director to lead the Washington DC Chapter - Thomas Day
PRMIA announces today the appointment of Thomas Day as the new Regional Director of the Washington DC Chapter. In his role as the Managing Director for Risk and Policy at SunGard Financial Services he is responsible for assessing risk across the balance sheet of some of the largest banks in the United States, understanding the risk management challenges - be they credit, market, liquidity, funding, price and other risks - and developing and deploying solutions that improve efficiency, capital measurement and, perhaps most importantly, foster the right set of enterprise-wide incentives. Not surprisingly, this view isn't simply resolved with technology platforms. The challenge of actively managing a balance sheet - whether corporate, financial, insurance or alternative investment - requires organizational infrastructure and financial risk governance models that create the right business intelligence being available at the right time, in the right place and at the right price.
As the Managing Director of Risk and Policy at Sungard, Mr. Day is a key source of thought-leadership for the company and its financial institution clients. Leveraging an extensive twenty-year career in banking, risk management and bank supervision, he assists clients in navigating through diverse market challenges and opportunities. His overall knowledge across financial enterprises is comprehensive and Mr. Day is well known for practical solutions to financial problems from a best-practice, business, accounting and strategic perspective.
Prior to re-joining SunGard, Mr. Day was Senior Risk and Policy Advisor within the US Treasury Department. In this role, Mr. Day oversaw the TARP program for various OTS chartered institutions and was a member of the interagency committee that reviewed applications for billions of dollars of capital investments into banks and other institutions. He has also served in senior roles at the Office of the Comptroller of the Currency, the Federal Reserve Board of Governors, AmSouth Bancorporation and SouthTrust Bancorp. He previously served as the SVP and head of product management and development at SunGard BancWare, one of the world's leading providers of risk management software, and was SVP of Balance Sheet Strategy for one of the largest commercial banks in the nation.
Mr. Day has a BS in Economics from Auburn University, is a Commissioned National Bank Examiner and a Commissioned Federal Bank and Financial Holding Company Examiner. Mr. Day is also the Regional Director for the Professional Risk Managers' International Association (PRMIA) in Washington D.C., a chapter with over 4,800 members. He is a frequent speaker at various industry conferences and events, a published writer and an avid fan of college football (particularly the SEC). He believes that social networking technology, cloud-computing and data transparency will radically transform not only finance, but financial risk management, our understanding of markets and will revolutionize the nature of brand and value.
Mr. Day's goals for the DC-PRMIA Chapter in 2010 are to (http://bit.ly/DCPRMIA):
1. Create an environment of connectivity and community amongst DC chapter participants
2. Add valuable content from the DC chapter into the local (global) risk management community
3. Be timely, relevant, and increasingly "sought out" for expert advice on risk management, market and regulatory issues
4. Enhance the Chapter's education and training initiatives, and utilize several new and innovative delivery mechanisms
5. Build a pool of volunteer sponsors for our Chapter
6. Expand our affinity relationships
7. Authoring and getting published thought leadership pieces throughout the course of the year
8. Cross-market/brand with NY, Charlotte and Boston, as well as our affinity partners at various local think-tanks and universities
PRMIA would like to acknowledge the Steering Committee members of the Washington DC chapter that will help the chapter achieve their goals, please find the members below.
Syed Ahmad co-Regional Director PRMIA DC, Federal Housing Finance Agency
Marlon Attiken, IBM, Special Advisor
Oliver Fratzscher, CDP, Honorary Member
Dr. David Green, Founding Principal, Special Advisor
Ashish Gupta, Fannie Mae, DC-PRMIA Business Development
Nicholas Kiritz, Constellation Energy, Newsletter
Christopher Laursen, Deputy Regional Director
Steven Lee, Global Client Consulting, DCSC Newsletter
Keith Ligon, Senior Manager, Federal Deposit Insurance Corporation
Timothy MacDonald, SVP Boston Private, Special Advisor
Timothy Prindle, Office of Thrift Supervision, Event Chair and Co-lead on Business Development
John Schwitz, Defense Intelligence Agency, Chair of DC-PRMIA Training and Professional Development
Christopher Whalen, Institutional Risk Analytics, Special Advisor
Kevin Stemp, Special Advisor, DC Steering Committee Secretary
Posted by PRMIA_Marketing at 11:13 AM
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June 15, 2010
Call for Speakers - Credit Risk Global Event Series
PRMIA announces a call for speakers for its Global Event Series on Credit Risk. The series will be held throughout the months of Spetember, October and November in 2010.
16 chapters will be holding events throughout the global PRMIA chapter network. These events include morning, afternoon and evening programs. We are seeking high level speakers who can share best practices, effective strategies and current thinking in the field of Risk Management for these chapter events on Credit Risk.
The PRMIA regional chapters that need your support are listed on the speaker application attached. Please mark on the application the box next to the chapter for which you are able to present. Speakers can select as many chapters as they are able to speak. Speakers will be matched with the Regional Director of the chapter(s) they have selected. Regional Directors will coordinate directly with speakers on preferred format, length of speech and other needed arrangements. PRMIA does not pay speaker fees, per diem or honoraria. Please make note on the application of specific speaker restrictions for some chapters.
If you are interested in presenting, please submit your application by June 28th. Applications must be submitted in English. Presentations may be delivered in other languages, depending on the preference of the regional chapter.
Please feel free to forward this opportunity to other potential speakers outside of PRMIA.
The application can be downloaded by clicking here or entering the following link into your internet browser: http://www.prmia.org/Weblogs/General/PRMIA_docs/PRMIA GES Speaker Application_Credit Risk_2010.doc
Please address any questions to Sue.Rod@prmia.org
Posted by kgittins at 10:13 AM
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June 10, 2010
Risk Certification Awards Announced
PRMIA and Thorek/Scott and Partners today announced the winners of their inaugural risk certification awards. Jan Larsen from the United States was named the winner of the Thorek/Scott Award for PRM Excellence and Richard Jones from the United Kingdom as the winner of the Thorek/Scott Award for Associate PRM Excellence.
These awards recognize those risk managers who believe in certifications as a vital step toward improving industry-wide risk management competence and achieving higher professional standing. Jan Larsen successfully passed the Professional Risk Manager (PRM) exams with the highest score among all exam takers between June 1, 2009 and May 31, 2010 and will receive a $4,000 cash prize. Richard Jones passed the Associate PRM exam with the highest score during this same period and will receive a $1,000 cash prize.
The two winners share their thoughts on the importance of risk certification and education and the benefits the PRM and Associate PRM have brought to them.
"The events of the past few years have served as a stark reminder to all of us of the critical importance of sound risk management practices. It is a great honor to have received the PRM certification and this subsequent recognition, and I hope to use what I have learned to help the financial community to move forward and ultimately emerge stronger than it was," says NERA Economic Consulting Senior Consultant Jan Larsen. "The skills demanded by the PRM Exam will benefit all PRM candidates, their employers and their employers' stakeholders. I am proud to have participated in the program and to be a member of PRMIA."
Richard Jones, Operations Graduate with Standard Life Investments says, "I studied for the Associate PRM in order to gain a broad grounding in risk management and its methodologies. My professional interactions with risk managers at Standard Life Investments have been significantly enhanced since I completed the Associate PRM, as I have a foundation of knowledge to build from, and am familiar with the terminology. The Associate PRM provides an ideal vehicle for financial services professionals who liaise with risk managers on a regular basis, to gain insight into the most widely used risk models, their requirements, and their outputs."
The PRM is recognized worldwide as the leading industry certification for risk managers, having received public endorsements from both business and universities. A PRM assures that the holder has the required broad knowledge and understanding, qualitative and quantitative, that risk managers must bring to the job. The Associate PRM is a PRMIA certificate program intended for staff entering the risk management profession, or those who interface with risk management disciplines on a regular basis, such as auditing, accounting, legal, and systems development personnel who want to understand fundamental risk management methods and practices.
A leader in executive search, Thorek/Scott and Partners has successfully connected top tier organizations with highly qualified professionals for over 30 years. Thorek/Scott's expertise in sourcing top talent risk professionals for the corporate, financial, and banking industries has enabled them to form lasting relationships with leading companies both within Canada and across the globe. Working with clients and candidates to create true partnerships, Thorek/Scott has dedicated themselves to bringing their intelligence, experience and enthusiasm to finding the leadership capital that fits. To learn more about their approach and values, as well as their recent successes and current opportunities, visit them at www.thorekscott.com or contact Catherine Edmunds at cedmunds@thorekscott.com.
Posted by PRMIA_Marketing at 08:53 PM
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June 03, 2010
FICO Survey Indicates Credit Supply Unlikely to Meet Consumer Demand
FICO (NYSE:FICO), the leading provider of analytics and decision management technology, announced the results of a survey conducted on its behalf by PRMIA asking bank risk professionals to predict trends in consumer credit.
Demand for Credit Up, But Lenders Still Cautious
The survey, conducted in March 2010, found that while bankers generally expected consumers to pursue more new credit as well as spend more against their existing credit lines, most lenders are likely to keep a close eye on risk management. Of the 127 bank risk professionals surveyed, 92 percent said they don't expect to see an easing of lending standards in this quarter, 95 percent expected interest rates for consumer credit to stay at current levels or move higher, and 83 percent expected the average credit limit for new credit cards to be lower than in the past.
"Bankers have a growing sense of optimism about the economy, but it's clear that risk management and responsible lending will be top-of-mind as they pursue new customers," said Dr. Andrew Jennings, chief research officer at FICO and head of FICO Labs -- the company's research unit that worked with PRMIA on this survey. "Banks will stay focused on loss prevention. Our survey found most bankers are still concerned about delinquencies. Throw in the CARD Act, which makes it harder for lenders to rein in risky cardholders, and it becomes highly unlikely we'll see lenders throw caution to the wind."
Delinquencies Expected to Increase
When asked about expected delinquency rates for several types of consumer credit, the majority of bankers said they expected delinquencies to increase. This includes home mortgages (60 percent of respondents expected a rise in delinquencies), credit cards (59 percent), and home equity lines of credit (56 percent). Even when asked about small business loans, 63 percent of lenders expected to see an increase in delinquencies.
Risk Management Becoming a Higher Priority in Banks
In a particularly telling result, 66 percent of bankers expected their institutions to increase the priority placed on risk management. Meanwhile, 34 percent expected the priority given to risk management to remain at its current level, and not a single respondent expected risk management to become a lower priority.
"Risk management hasn't always been treated strategically, but that's starting to change in a significant way," said Dr. Russell Walker of the Zell Center for Risk Research at Northwestern University's Kellogg School of Management. Walker is a PRMIA member and analyzed the survey results. "Financial institutions have come to realize how vulnerable their businesses are to macro-economic forces and I expect to see much more emphasis placed on proactive, systematic risk management and loss prevention than we've seen in the past."
Risk Managers Almost Universally Pessimistic about Impact of CARD Act
While the recently implemented CARD Act was designed to protect credit cardholders from objectionable lending practices, the survey found it is likely to contribute to the gap between credit supply and credit demand. Of those survey respondents who work in the credit card industry, over 85 percent expected the CARD Act to result in higher interest rates for consumers and lower credit limits for new accounts. These respondents also expected the law to result in similar or lower acceptance rates for credit applications, indicating that tougher regulations and the ongoing struggle by credit card issuers to regain profitability will keep credit tight.
A detailed report of the survey results is available at http://www.prmia.org/PRMIA-News/USConsumerCreditRisk.pdf. FICO and PRMIA extend special appreciation to The Zell Center for Risk Research at The Kellogg School of Management for its assistance in analyzing the survey responses and writing the report. FICO intends to replicate this survey quarterly.
About the Zell Center for Risk Research
The Zell Center for Risk Research promotes the study and understanding of the way people perceive risk, the effects of these perceptions, and the management of risk. The center accomplishes these objectives by encouraging academic research in this area, and through the communication of research findings to a wide audience of academics, students and practitioners. The center is housed within the Kellogg School of Management at Northwestern University, a widely-recognized global leader in management education. The school, located just outside of Chicago, is home to a renowned, research-based faculty and MBA students from around the globe. To learn more, visit www.kellogg.northwestern.edu.
About FICO
FICO (NYSE:FICO)-transforms business by making every decision count. FICO's Decision Management solutions combine trusted advice, world-class analytics and innovative applications to give organizations the power to automate, improve and connect decisions across their business. Clients in 80 countries work with FICO to increase customer loyalty and profitability, cut fraud losses, manage credit risk, meet regulatory and competitive demands, and rapidly build market share. FICO also helps millions of individuals manage their credit health through the www.myFICO.com website. Learn more about FICO at www.fico.com.
Posted by PRMIA_Marketing at 05:05 PM
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