Magazine article The RMA Journal

A Message to Members: RMA Recently Announced the Launch of a New Foundation That Will Provide Scholarships and Training Opportunities to Support the Associations Goal of Advancing Sound Risk Principles in the Financial Services Industry-Now and for Years to Come

Magazine article The RMA Journal

A Message to Members: RMA Recently Announced the Launch of a New Foundation That Will Provide Scholarships and Training Opportunities to Support the Associations Goal of Advancing Sound Risk Principles in the Financial Services Industry-Now and for Years to Come

Article excerpt

RMA SETS THE STAGE FOR A NEW GENERATION OF BANKERS

2015 was an exciting year for RMA. We saw evidence that there is genuine pride of membership, a willingness to take action to move the industry forward and shine a light on the career potential that exists in banking, and plenty of opportunities to Join. Engage. Lead.

At the core of this excitement was the energy around taking concrete steps on the RMA enhanced learning initiative that was announced last year. The Board and staff had identified that there is a talent gap in the industry and the Board authorized an initial contribution of $5 million in 2014 and a subsequent contribution of $500,000 in 2015 to the RMA Foundation which will aim to instill future generations of bankers with a firm commitment to sound risk management principles--just as it says in our mission. This strategic investment that will fund educational endeavors enabled demonstrable progress to be made in defining the specific components of this academic program including designing several of the key components of the program, and initiating outreach efforts to several key partners. Gratifyingly, these outreach efforts were enthusiastically received. This academic program really began to take shape in Fiscal Year 2015. We determined that we would offer small scholarships to undergraduate students majoring in business around the country as well offer an RMA membership and an opportunity to earn a certificate which could be listed on a resume. Individual scholarship award amounts will be based on the strength of the application. Awards ranging from $2,000 to $5,000 per student are available through The Risk Management Association (RMA) Foundation. Up to $200,000 a year will be awarded through the Scholarship Program. And starting next year, students will be able to earn a Credit Essentials Certificate that will demonstrate proficiency in business and financial knowledge and help certificate holders stand out.

As word spread about the RMA Foundation and the programs it will enable, the pride members have and their strong commitment to our profession was evident. Chapters are going to be an integral part of this program and they have been enthusiastically endorsing the initiative that positions RMA as the Association that promulgates sound risk management and instills that commitment in young professionals--the future of RMA.

For more than a century RMA has continued to uphold its reputation while advancing the use of sound risk management principles in the financial services industry. The Association leverages this reputation by providing the industry with the ability to certify its practitioners with verifiable credentials.

In today's rapidly changing financial services industry, credit and lending professionals continue to play a critical role in shaping the risk profile of their respective institutions. RMA's Credit Risk Certification (CRC) is the only recognized professional designation for credit and lending professionals, and earning it gives added credibility among colleagues and clients alike. As a credentialed risk professional through RMA, you demonstrate a commitment to the credit risk industry and a level of industry knowledge that has been recognized by an objective, outside organization. …

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