Management Association continues its global expansion, offering educational
courses and events in locations around the world. Next month, it will hold
inaugural chapter meetings in Australia and cosponsor an Asian Conference on Securities Lending in Hong Kong. It also will introduce an operational risk course in four Asian cities.
RMA's new Australian Chapter will hold inaugural meetings in Sydney and Melbourne on March 17 and March 18. About 300 financial services professionals are expected to attend each meeting and hear RMA President and CEO Maurice H. Hartigan II speak about current developments and future trends in risk management.
RMA will cosponsor an Asian Conference on Securities Lending with the Pan Asia Securities Lending Association, which will be held March 23-25, 2004, at the Grand Hyatt Hong Kong. The conference program will include planned country updates from representatives of Hong Kong, Singapore, Korea, Taiwan, and others.
Also in March, RMA will offer its Operational Risk 101 course, a one-day class, in Kuala Lumpur, Singapore, Jakarta, and Hong Kong.
These events reflect RMA's broadened risk focus. About three years ago RMA expanded beyond its traditional focus on credit risk. It now helps the financial services industry to identify and manage risks throughout the enterprise.
"RMA was formed in 1914 because bankers recognized the importance of sharing credit information," said Maurice H. Hartigan II, president and CEO of RMA. "Today the financial services industry is much more complex. Institutions must measure and manage risks across the entire enterprise. In addition to credit risk, operational risk and market risk must be managed to ensure that an institution remains safe and sound?and competitive."
Hartigan said RMA's commitment to serving the financial services industry remains as strong today as it was 90 years ago. "We continue to upgrade our credit-based information products such as Annual Statement Studies and to offer delivery of our training and information products in traditional as well as electronic formats. We are dedicated to meeting the needs of an industry that is growing globally."
As a nonprofit professional association, RMA does not lobby, but it does meet with the industry regulators to discuss issues of mutual concern, such as the impact of the slowing economy on bank portfolios.
In addition to its 120 chapters throughout North America and its new Australian chapter, RMA has chapters in Hong Kong, Singapore, and London.
RMA is a member-driven professional association whose sole purpose is to advance the use of sound risk principles in the financial services industry. Founded in 1914, RMA promotes an enterprise-wide approach to risk management that focuses on credit risk, market risk, and operational risk. Headquartered in Philadelphia, Pennsylvania, RMA has about 3,000 institutional members that include banks of all sizes as well as nonbank institutions. They are represented in the Association by 16,000 commercial loan, credit and risk management professionals in the 50 states, Puerto Rico, Canada, and numerous foreign cities, including Hong Kong, Singapore, Melbourne, and London.
Press Release Contact:
Kathleen M. Beans