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June 1, 2006 –The ICMA Centre, University of Reading, has launched the first full-time Masters degree in financial risk management to encompass the Professional Risk Manager (PRMTM) certification syllabus and PRM Handbook in its curriculum. The PRMTM qualification is the leading professional qualification in its field with active candidates in more than 85 countries. The new Master of Science degree in Financial Risk Management has its first intake in October 2006.

The Professional Risk Managers’ International Association (PRMIA), who certify the holders of the PRMTM credential, have built strong links with a group of well-known business schools, including the ICMA Centre, through the PRMIA Institute, where best practice curricula for graduate programs in risk management are being developed. Carol Alexander, the ICMA Centre’s research director is also chair of the Academic Advisory Council (AAC) of the PRMIA Institute. The AAC consists of internationally renowned academics that are dedicated to global outreach and the highest educational standards. In addition to the ICMA Centre, members of the AAC come from the University of California at Berkeley Haas School of Business, Hong Kong University of Science and Technology Business School, Groupe HEC Business School in Paris, National University of Singapore Centre for Financial Engineering, University of Toronto Risk Lab, Technical University of Munich HVB-Institute for Mathematical Finance, Macquarie University Applied Finance Centre and the University of Michigan College of Engineering. Representatives from each institution are engaged in supporting the risk management profession through PRMIA.

“The MSc in Financial Risk Management is bound to appeal to current and future PRMIA members. Membership is rapidly expanding so in future the ICMA Centre plans to offer both distance learning and flexible learning versions of the degree. Students now recognize the benefit of adding professional qualifications to their academic degrees and we have two other new Masters degrees with this facility: the MSc in Investment Management (linked to the CFA) and the MSc in Compliance and Regulation, linked to our NASD qualification,“ said Professor Carol Alexander, Chair of Risk Management and Head of Research at the ICMA Centre and Chair of the Academic Advisory Council for PRMIA

“PRMIA places great value on the contributions that the ICMA Centre makes to raising the standards of the risk management practice through its leading degree programs. We believe that our academic partners contribute substantially to the betterment of risk management practices worldwide through such initiatives,” said David R Koenig, Executive Director and Immediate Past Chair, Board of Directors, of the Professional Risk Managers’ International Association (PRMIA)

‘The ICMA Centre has been leading the world in establishing academic excellence in financial risk management research and education. Our success is based on the integration of applied finance theory and industry specific knowledge. PRMIA, with its forward looking approach to best practice in risk management, offers an ideal partner to complement and enhance the new masters programme,” said Professor John Board, Director, ICMA Centre.