PHILADELPHIA, Jan. 17, 2019 /PRNewswire/ -- The Risk Management Association Foundation will provide scholarships totaling $288,000 to 105 college students for the spring 2019 semester, the Risk Management Association (RMA) has announced.
Since the RMA Scholarship was launched in 2015, students pursuing careers in the financial services industry have received 331 scholarships totaling over $867,000 from The RMA Foundation.
The most recent awards ranged from $2,000 to $8,000. First-time recipients included 38 juniors and 46 seniors, while 21 seniors repeated as RMA scholars.
"It is an honor for RMA and The RMA Foundation to play a part in the educational journeys of these talented future financial industry professionals," said RMA President and CEO Nancy Foster. "By investing in them today, we are helping to ensure that the best and brightest will lead our industry through the challenges and opportunities of the future."
The Risk Management Association, whose sole mission is to advance the use of sound risk management principles in the financial services industry, created the Foundation in 2014 to assist with attracting talent to the banking industry at a time of increasing baby boomer retirements and competition for graduates from tech and other sectors.
The application window to apply for the next round of RMA Scholarships will open in the fall. RMA Scholars are selected based on:
- Academic achievement.
- Participation and leadership in community and school activities or related work experience.
- Demonstrated interest in the banking industry, including involvement in the local RMA chapter, academic studies, and internships.
- A statement of career goals and objectives.
In addition to applying for scholarships, banking-focused students can take advantage of free RMA student memberships. Benefits have expanded to include an online subscription to The RMA Journal, access to the RMA Xchange online member community, and invitations to attend RMA chapter meetings and workshops. Students are also able to earn the Credit Essentials Certificate, which demonstrates proficiency in business and financial knowledge and helps certificate holders stand out to employers.
Founded in 1914, The Risk Management Association is a not-for-profit, member-driven professional association whose sole purpose is to advance the use of sound risk management principles in the financial services industry. RMA promotes an enterprise approach to risk management that focuses on credit risk, market risk, and operational risk. Headquartered in Philadelphia, Pennsylvania, RMA has 2,500 institutional members that include banks of all sizes as well as nonbank financial institutions. They are represented in the Association by 18,000 individuals located throughout North America, Europe, Australia, and Asia/Pacific.
SOURCE The Risk Management Association