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Launch of BIBF’s Professional Risk Manager (PRM) training program
30th April 2007
Banks in the Middle East need to take risk management more seriously, if they want to avoid a financial crisis that could result in bank failure, says a leading international expert. (May be, you can put a quote here instead “All of life is the management of risk, not its elimination”. Walter Wriston, former Chairman of the Citigroup.)
As the business of banking becomes increasingly riskier and a new international regimen on capital adequacy and risk management for banks, Basel II, takes root in countries around the world, the need for qualified risk managers has never been more acute, said Dr David Rowe, Executive Vice President for Risk Management at SunGard - Adaptiv.
He was speaking at an Open House held yesterday (29 April 2007) at the Bahrain Institute of Banking & Finance (BIBF). The Open House was held to launch the BIBF’s Professional Risk Manager (PRM) training program.
Dr. David Rowe, who is also Co-Chair of the Professional Risk Managers’ International Association (PRMIA) Education Committee, was in Bahrain to speak to interested candidates on PRM. Risk Managers and Training managers from the financial services industry, BIBF officials, faculty and staff were present at the launch ceremony.
Mr. Hussain Al Ajmi, Division Head, Learning Centers, at the BIBF said “The vast majority of banks and other financial institutions are realizing the importance of risk management in all aspects of their operations. Bahrain needs to develop a pool of professionals in this area. BIBF is working to fulfil the needs of the industry to that effect.
Dr Subhadra Ganguli, Senior Instructor, Banking Learning Centre, at the BIBF, stressed the importance of risk management in protecting banks, and financial systems, against financial crisis which could lead to collapse.
“Risk management is no longer an option. Identifying and efficiently managing risk is equally important for maximizing profits and returns to shareholders,” she said.
The new BIBF programme, the PRM, is aimed at preparing a new breed of high caliber risk management professionals, who can capably steer their respective institutions to even higher levels of success.
Awarded by the PRMIA, the PRM is the global standard for risk managers. It consists of four separate modules and a corresponding exam in each module. Exams can be taken on –line on any business day in one sitting or in four separate modules and in any order over a period of up to two years. In order to get the PRM Certification, the candidate must pass all four modules. The candidate is also required to register online with (PRIMA): www.prmia.org
Each candidate after registering with (PRIMA), will receive a rigorous eight- month training in all four modules at BIBF by experienced (PRM) certification holders from the industry and BIBF faculty. These modules include: Financial Theory, Mathematical Foundation of Risk Measurements, Risk management Practices and Case Studies, Standards: Governance, Best Practices, Ethics.
The programme begins on 26th May 2007. Classes will be held at the BIBF every Saturday from 9:30am - 12:30pm and 1:30 pm - 4:30 pm.
For other inquiries, please contact the BIBF Banking Learning Center team on Tel: 17815555, Fax: 17729928 or E-mail: infodesk@bibf.com
Press Releases Archive
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