PHILADELPHIA, PA (June 25, 2021) – The Risk Management Association (RMA) and the MinBanc Foundation have announced a collaboration to attract members of the minority community to the financial services industry, provide related career training and opportunities, and support workforce development at minority-owned financial institutions.
Through the collaboration, MinBanc, a private foundation that provides funding for financial services industry training at minority depository institutions (MDIs), will connect its constituents with RMA’s financial risk management courses, peer sharing events, certification programs, and other RMA benefits and offerings. Together, the organizations hope to encourage MDIs to explore both institutional and associate membership opportunities, and utilize RMA’s job board to post open positions.
The nation’s 142 minority depository institutions play a unique role in promoting economic viability in minority- and low- and moderate-income communities. Building capacity and scale are critical to growing their operations and expanding services to their communities.
“As an Association that is committed to advancing opportunity as well as true diversity, equity, and inclusion in the financial services industry, RMA is honored to be collaborating with MinBanc,” said RMA President and CEO Nancy Foster. “We are extremely grateful for this chance to support MDIs and their professionals as they grow and support their communities.”
“We are happy and thrilled to partner with RMA, an industry leader and widely respected organization in the financial services training space. This collaboration offers strong support for our unique mission and community,” said MinBanc Foundation Chairman Ignacio Urrabazo.
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 1,900 institutional members that include banks of all sizes as well as nonbank financial institutions. They are represented in the Association by 18,500 individuals located throughout North America, Europe, Australia, and Asia/Pacific.
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About the MinBanc Foundation
MinBanc Foundation, Inc. is a private foundation formed in 1999 with the intent to provide increased opportunities for key employees in the minority banking community. Through an educational grant program, it supports workforce development at minority-owned banks and financial institutions in many different states.