January 30, 2003 - The Professional Risk Managers' International Association (PRMIA) is pleased to announce that Dr. Zvi Bodie, Professor of Finance and Economics at Boston University School of Management and author of standard-setting textbooks in Finance and Investments, has joined PRMIA's Education and Standards Committee.

"Professor Zvi Bodie is a leading researcher in the Finance and Risk Management areas, specializing in Investments and Financial Engineering," stated Dr. Zvi Wiener, co-Chair of PRMIA's Education Committee and Head of the Finance Department of the School of Business Administration at the Hebrew University of Jerusalem. "We are extremely pleased to have him join us on the Education and Standards Committee at PRMIA."

"I look forward to helping to make PRMIA the best professional organization of its kind," said Dr. Bodie.

"PRMIA's certification program is fast becoming a standard among professional Risk Managers and we are certain that Professor Bodie's vast experience will be a valuable asset, towards maintaining the high level of our program," stated Wiener.

PRMIAs Education and Standards Committee is charged with development of the PRMIA Certified Risk Manager program and PRMIAs Standards of Practice, Conduct and Ethics (Code of Conduct).

The PRMIA Certified Risk Manager exam is offered during testing windows each month in over 350 cities worldwide. It tests for both the knowledge and understanding of the building blocks essential to the successful practice of risk management. The exam tests theoretical and practical aspects of risk management best practices as well as case studies of failed practices. Further, it requires candidates to know, understand and commit to the professional standards that are at the heart of PRMIA's Bylaws and Standards of Best Practice, Conduct and Ethics (Code of Conduct).

The PRMIA Standards of Practice Conduct and Ethics sets the tone for expected standards of behavior by professional risk managers. Adherence to the code is expected of all PRMIA members and is required for maintenance of the PRMIA Certified Risk Manager Designation.

The PRMIA Certified Risk Manager exam is the only risk management certification program that has been endorsed by Algorithmics, SunGard Trading and Risk Systems, the Risk Desk, MB Risk Management, Lepus, Lombard Risk Management, plc and Misys. It is also supported through the sponsorship of Ernst and Young. Eighty percent of net exam revenues go to support local activities at PRMIA chapters around the world where over 4,000 attendees participated in free chapter meetings in 2002. The balance of net revenues is committed to support PRMIAs web-based and ground level efforts to fulfill its Mission.

Zvi Bodie holds a Ph.D from the Massachusetts Institute of Technology and has served on the finance faculty at the Harvard Business School and MIT's Sloan School of Management. Professor Bodie has published widely on pension finance and investment strategy in leading professional journals. His books include Foundations of Pension Finance, Pensions in the U.S. Economy, Issues in Pension Economics, and Financial Aspects of the U.S. Pension System. His textbook, Investments, is the market leader and is used in the certification programs of the Financial Planning Association and the Society of Actuaries and PRMIA. His textbook Finance is coauthored by Nobel Prize winning economist, Robert C. Merton. Professor Bodie is a member of the Pension Research Council of the Wharton School, University of Pennsylvania.

Members of the PRMIA Education and Standards Committee include:


Dr. Zvi Wiener, PRMIA Certified Risk Manager, Hebrew University, Israel

Dr. David Rowe, SunGard Trading and Risk Systems, Palo Alto, CA

James Lam, James Lam and Associates, Boston

Committee Members:

Dr. Emerico Amari, Macfin, Italy

Dr. Zvi Bodie, Boston University School of Management, Boston

Dr. Jorge-Galindo Flores, Deloitte & Touche, Mexico

Kruskal Hewitt, PRMIA Certified Risk Manager, Shinsei Bank, Japan

Dr. Allister Hickson, Manitoba Public Insurance, Canada

Glyn Holton, Contingency Analysis, Boston

Chiang Kheng Hong, PRMIA Certified Risk Manager, OCBC Bank, Singapore

Claus Madson, FinEAnalytics, Denmark

Nawal Roy, Deutsche Bank, New York

Dr. Sergey Smirnov, State University - Higher School of Economics, Russia

Fred Vacelet, PRMIA Certified Risk Manager, London

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