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Mar 2003

March 31, 2003- The Professional Risk Managers' International Association (PRMIA) is pleased to announce that Dr. Mamdouh Barakat, President and CEO of MB Risk Management (MBRM), has joined PRMIA's Education and Standards Committee.

"Dr. Barakat's commitment to PRMIA and to the advancement of the risk management profession through the Professional Risk Manager (PRM) program has been tremendous," said David R. Koenig, Chair of the PRMIA Board of Directors. "His firm was one of the first to endorse the PRM program for its employees and clients and he is now personally committing his time and considerable professional skills to help that program to grow. We are deeply appreciative."

"I am very pleased to join the Education and Standards Committee since this will enable me to provide direct input in the direction and activities of the PRM program," said Dr. Mamdouh Barakat. "Our clients are spread throughout the world, therefore PRMIA's educational outreach across all geographic areas is essential. There is a PRM testing center, where our clients can register and sit for the program, in over 350 cities around the world: (http://www.prmia.org/prm-exam/what-is-the-prm)"

PRMIA's Education and Standards Committee is charged with the development of the Professional Risk Manager program and PRMIA's Standards of Practice, Conduct and Ethics (Code of Conduct).

The Professional Risk Manager (PRM) program is both a certification and professional development program specifically for risk managers and those whose work links them to the risk management profession. Offered in four separate exams, on every business day, in over 350 cities worldwide, it is the only globally endorsed certification program for risk managers. The PRM program tests for both the knowledge and understanding of the building blocks essential to the successful practice of risk management. The exams test theoretical and practical aspects of risk management best practices as well as case studies of failed practices. Furthermore, they require candidates to know, understand and commit to the professional standards that are at the heart of PRMIA's Bylaws and Standards of Best Practice, Conduct and Ethics (Code of Conduct).

The PRMIA Standards of Practice Conduct and Ethics sets the tone for expected standards of behavior by professional risk managers. Adherence to the code is expected of all PRMIA members and is required for maintenance of the PRM Designation.

The Professional Risk Manager exam is the only risk management certification program that has been endorsed by Algorithmics, SunGard Trading and Risk Systems, the Risk Desk, MB Risk Management, Lepus, Lombard Risk Management plc and Misys. It is also supported through the sponsorship of Ernst and Young. Eighty percent of net exam revenues go to support local activities at PRMIA chapters around the world. The balance of net revenues is committed to support PRMIA's web-based and ground level efforts to fulfill its Mission.

Dr. Mamdouh Barakat is a recognized pioneer in the risk management arena and has been at the leading edge of analytical solutions for almost two decades. He founded MBRM - MB Risk Management (trading name of Financial Systems Software (FSS) Ltd) in 1988. Prior to this, he was a quantitative analyst with Drexel Burnham Lambert. Dr. Barakat has also held the post of Senior Managing Director of FNX Limited. He received his BSc, MSc and PhD (in the field of Artificial Intelligence (AI) in Simulation Modeling) from the London School of Economics.

Members of the PRMIA Education and Standards Committee include:

  Dr. Zvi Wiener, Jerusalem
Dr. David Rowe, Palo Alto, CA
James Lam, Boston
Committee Members:
  Dr. Emerico Amari, Milan
Dr. Zvi Bodie, Boston
Dr. Jorge-Galindo Flores, Mexico City
Kruskal Hewitt, Tokyo
Dr. Allister Hickson, Winnipeg
Glyn Holton, Boston
Dr. Elias Demetriades, Chicago
Chiang Kheng Hong, Singapore
Claus Madson, Copenhagen
Nawal Roy, New York
Dr. Sergey Smirnov, Moscow
David Medrano, Dallas
Dr. Mamdouh Barakat, London


PRMIA is the Professional Risk Managers' International Association. Founded in 2002, PRMIA currently has 36 chapters around the world, and over 5,500 members in more than ninety-five countries. PRMIA is a tax-exempt, non-profit, member-led association of risk professionals dedicated to the advancement of the profession worldwide through the free exchange of ideas about risk management. More than 10,000 attendees are expected at free PRMIA events around the world in 2003, making it both the risk industry's fastest-growing professional association and its most active.

PRMIA has local chapters in London, New York, Chicago, Hong Kong, Shanghai, Singapore, Japan, Australia, Russia, Poland, the Ukraine, Denmark, the Netherlands, Sweden, Spain, Italy, Frankfurt, Dusseldorf, Paris, Zurich, Israel, Brazil, Chile, Argentina, Mexico, Venezuela, Philadelphia, Boston, Charlotte, Atlanta, Minneapolis, Houston, Seattle, Calgary, Toronto and Montreal. Visit http://www.prmia.org for more information.

About MB Risk Management

MBRM - MB Risk Management, founded in 1988, are developers of the UNIVERSAL Add-ins. With 30,000+ users world-wide at Investment Houses, Money Managers and Corporate Treasuries, MBRM's software is used for pricing, risk management, trading, arbitrage, fund management and auditing of securities, options, futures and swaps in the convertible, fixed income, commodities, energy, equities, foreign exchange and money markets. A free fully functional 30 day trial of the Universal Add-ins can be downloaded from http://www.mbrm.com.

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