Risk Manager an important cog in financial institutions: Expert

Bangalore, May 9 (UNI) Risk in financial institutions was a manageable commodity and the role of Professional Risk Managers will assume added importance in the global financial market that has seen rapid changes in the recent past.

Speaking to reporters on the importance of hiring professionals to manage risks in financial institutions, mainly in Banks, Professional Risk Managers International Association (PRMIA) Chief Operating Officer David Miller said risk management in finance was about risk in lending and deploying of funds by the institutions.

"Risk Manager has assumed a vital role in the globalised world.

Banks are now realising the importance of such a professional and it no more an appointment made just to please the regulators," he said.

PRMIA, a non-profitable organisation of professionals was dedicated in advancing the standards of the profession worldwide through free exchange of ideas. The association, which had 41,000 members in more than 175 countries and 4300 in India, offered the only globally endorsed Professional Risk Manager (PRM) certification programme which was persued by more than 1800 active candidates worldwide at present.

Mr Miller said the on-line web based programme offered by PRIMIA had four papers and the association was thinking on adding another paper specific to Indian banking industry following its request.

The online course is conducted in a strategic relationship with KESDEE Inc world wide and in India, KESDEE India had developed and hosted online exam tutorial 'ePRM Coach' for PRIMA, KESDEE India General Manager B N Adarsh said.

UNI