The Risk Management Association is taking no chances on the future of good risk principles.
The Philadelphia-based organization, whose members include money managers and banks, has created the Risk Management Association Foundation to offer scholarships and training opportunities for business school students.
Through its investment in education, RMA executives hope, risk practices will continue to improve and good risk principles will live on through future generations of financial services executives.
“The need to secure well-trained talent for the risk discipline, both now and into the future, is one of the top issues facing the industry,” William F. Githens, RMA president and CEO, said in announcing the new foundation Oct. 27. “These scholarships, internships, and association memberships will help make students aware of professional opportunities in risk management, and risk's vital role in the successful functioning of individual institutions and the financial system as a whole.”
The foundation board — composed of current and former RMA board members — has not announced funding or how the foundation will be invested, said Frank Devlin, RMA spokesman.