Philadelphia, PA (February 8, 2022)—The Risk Management Association announced today that it is awarding $152,000 in scholarships to students at Historically Black Colleges & Universities as part of its effort to advance diversity, equity, and inclusion in the financial services industry.
The $2,000 scholarships are designed to benefit students pursuing financial services careers—and the RMA member banks that will ultimately gain from their talents. The awards align with RMA’s belief that DEI is not only the right thing to do, it is also good business: Several studies show that banks with higher levels of racial, ethnic, and gender diversity exceed their peers in innovation, profitability, and other performance measures.
The 76 scholarship awards went to students from the following Historically Black Colleges & Universities: Alcorn State University, Benedict College, Bowie State University, Chicago State University, Dillard University, Edward Waters University, Florida A&M University, Harris Stowe State University, Howard University, Medgar Evers College, Morgan State University, Norfolk State University, North Carolina A&T State University, North Carolina Central University, Prairie View A&M University, Saint Augustine’s University, South Carolina State University, Tennessee State University, Texas Southern University, University of Arkansas at Pine Bluff, and the University of the District of Columbia.
A listing of the names, schools, and hometowns of all the RMA Scholarship award winners is available here.
“These scholarships will help usher new talent into the industry at a critical time,” said RMA President and CEO Nancy Foster. “With the challenges presented by rapid technological transformation, climate, and demographic change, and ever-increasing emerging risks, the financial industry needs workforces with a diversity of talent and backgrounds to achieve its important mission.”
The HBCU awards are part of an RMA Scholarship program that has distributed more than $1.3 million to over 500 students. Applications are now being accepted for the next round of RMA Scholarships through March 31 at 4 p.m. Eastern Standard Time.
RMA is committed to supporting and promoting diversity, equity, and inclusion for the benefit of its members and the industry through efforts including its RMA Women in Risk initiative and RMA’s collaboration with MinBanc to provide training at MDIs.
RMA, which works to advance sound risk management principles in the financial services industry, awards scholarships through its RMA Foundation to assist in attracting banking talent at a time of increasing baby boomer retirements and competition for graduates from tech and other sectors.
About Risk Management Association (RMA)
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 1,600 institutional members that include banks of all sizes as well as nonbank financial institutions. They are represented in the Association by 26,000 individuals located throughout North America, Europe, Australia, and Asia/Pacific.
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