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RMA Scholarship Awards Pass $1.8 Million Mark, Record Number of Students Participate in University Programs to Develop Financial Industry Talent

RMA Scholarship Awards Pass $1.8 Million Mark, Record Number of Students Participate in University Programs to Develop Financial Industry Talent

The Risk Management Association today announced important milestones for its programs that support and develop the next generation of financial services industry talent. RMA said participation in its Credit Essentials Certificate (CEC) broke records in Spring 2024, while its Scholarship Program has surpassed $1.8 million in awards to students pursuing financial industry careers.

In the spring, 748 students representing 28 colleges and universities earned the CEC, up from previous highs of 656 and 28, respectively. Since 2016, over 2,100 students have earned the CEC, which validates commercial credit risk knowledge and skills — and differentiates certificate holders from other candidates when seeking employment.

In addition, RMA is providing awards totaling $100,000 to 80 college students in 2024. Since the RMA Foundation Scholarship Program was launched in 2015, 740 students have received scholarships totaling $1,841,500.  The most recent awards ranged from $1,500 to $5,000 per student. 51% of new scholarships this year were awarded to students from Minority-Serving Institutions (MSIs) up from 33% in 2023, and 60% of new awards went to students from RMA partner universities offering the CEC, up from 21% in 2023. The scholarships support the RMA Foundation’s mission to attract diverse, ready-to-hire talent to the industry and usher in a new era of innovation. 72% of previous scholarship winners who have graduated and are currently employed, are working in the financial services industry.

Carlos Pimentel, a U.S. Army Veteran with extensive leadership experience in his final year at the University of Texas at El Paso, is this year’s Githens Award recipient. Carley Cook of Spelman College, a Historically Black College and University (HBCU), will receive the first-ever scholarship named for Nancy Foster, RMA’s former President and CEO who retired at the end of 2023. The Foster Award is presented annually alongside the Githens Award to the two most distinguished candidates who demonstrate exemplary professional growth potential and a commitment to a career in the financial services industry.

Additionally, the RMA Foundation is pleased to announce a one-time scholarship in memory of Ed Schreiber. Ed served RMA, its’ members, and the industry in countless ways. Christian Holmes, a senior at the University of Utah where Ed served as an adjunct professor, is the recipient of this special award honoring Ed’s legacy and character.

Scholarship recipients are selected on merit based on the following factors:

  • Demonstrated interest in the banking industry. (Examples include previous employment at a bank, RMA membership, involvement in a local RMA chapter, academic studies, and internships).
  • Academic achievement.
  • Participation and leadership in community and school activities, or related work experience.
  • Statement of career goals and objectives.

Learn more about the scholarships here. The Credit Essentials Certificate and RMA Scholarships are part of RMA’s Academic Program, which cultivates partnerships with universities nationwide to administer relevant coursework that promotes workforce readiness.