October 17, 2003 - In a meeting of the members of PRMIA on October 16th, Mark Abbott, Alexander Shipilov and David R. Koenig were all re-elected to the Board of Directors of the Professional Risk Managers' International Association.

Members in all regions cast votes to choose those to fill three Global seats on the Board, meaning their focus is on the global efforts of the association. The following were the results tallied at the meeting:

David R. Koenig (44%)
Mark Abbott (23%)
Alexander Shipilov (20%)
Mamdouh Barakat (13%)

Dr. Alexander Shipilov has been practicing risk management consulting at PricewaterhouseCoopers (PwC) since 1995. He has lived and worked in Russia, Great Britain, Spain, USA and Canada advising banks, insurance and energy companies in risk management issues. Dr. Shipilov’s responsibilities include also reviewing valuation models and inputs, and performing substantive valuations of derivative instruments held by the PwC audit clients. He received his bilingual MBA at IESE, Spain, Ph.D. in Applied Mathematics at the USSR Academy of Sciences, and a Master degree in Mechanical Engineering at Togliatti Polytechnic Institute. He speaks English, Russian and Spanish. In recent years Dr. Shipilov obtained a dozen of patents in Robotics, published several articles on risk management and optimization problems. His book "Resonant Robotic Systems" has been published by Springer-Verlag this year. He currently serves as the Secretary/Treasurer of PRMIA.

Mark C. Abbott, PRM, is Managing Director, Investments, and head of Quantitative Research, ALM and Risk Management for Guardian Life Insurance Company of America. Mark has 21 years of experience, previously managed prominent institutional risk management relationships and quantitative analytics at BlackRock, Barra, Global Advanced Technology, Drexel Burnham Lambert and Merrill Lynch. Mark received an MA in Mathematical Statistics from Columbia University and a BA from Columbia College. He is an active member of the PRMIA Board of Directors, New York Steering Committee and Regional Director Support and Standards Committee. He has also been very active with the Society of Actuaries.

David R. Koenig has been serving full time in a volunteer role as the Chair of the Board of Directors for PRMIA. He's been in the financial markets for nearly 20 years, has built three risk management programs from the ground up, has been a researcher and trader, having actively managed the exposure on mortgage derivatives in excess of US$50 billion and traded fixed income derivatives in notional amounts exceeding US$6 billion. He was most recently the Managing Director of Market and Institutional Credit Risk Management for USBancorp Piper Jaffray & in his career has worked for GMAC/RFC, the Principal Financial Group and the First National Bank of Chicago. He has a Master's Degree in Economics from Northwestern University in Evanston, IL and undergraduate degrees in Mathematics, Statistics and Economics from Miami University in Oxford, OH.

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