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Risk managers partner CIBN to improve practice


cibnAs part of its resolve to ensure that risk management practitioners compete favourably in the global arena, Risk Managers Association of Nigeria (RIMAN) has sealed agreement with the Chartered Institute of Bankers of Nigeria (CIBN) to professionalise risk management practice in Nigeria.
To strengthen the collaboration, the CIBN and RIMAN also introduced student handbook for certified risk managers to serve as a guideline for prospective students.
Speaking on the development, the Director of risk management of the Central Bank of Nigeria (CBN), FolakemiFatogbe explained that global development in regulation and resolution of crises in the financial service industry have given rise to the adoption of risk management frameworks and practices in virtually all the countries.
She noted that the partnership would boost professionalism in risk management practice, adding that it would also encourage the youths to come into the field risk management practice.
“It will boost professionalism of risk management because there was need to have funnel of young people coming into the field of risk management and this would really assist and set standard.
“We are supportive of anything that would professionalize risk management. It would allow for some uniformity of understanding, practice and execution,” she said.
The President of the Association, Jude Monye explained that the synergy has given the association the optimism to move to the next frontier in the profession.
“We now have the challenge to move to the next frontier. We were like floating; looking for how to make ourselves prominent in risk management practice but CIBN has given us the care, loyalty and sustainability. It is a risk that we would run and accomplish. We would not tarnish the image of the institute,” he assured.
Speaking at the same vein, President/Chairman of council of CIBN, Mrs Debola Osibogun explained that the institute consummated a cooperation agreement with RIMAN on July 201, indicating the institute’s intention to run a joint certification programme in risk management.
The president, who stressed the importance of risk management in banks and other financial institutions, explained that the joint certification programme was designed to address emerging and contemporary issues in risk management.

“The infusion of local content into the curriculum is what differentiates this programme from others available in the market place.
“The central objective of this initiative is to adequately equip recipients with requisite knowledge and skills for a successful career in risk management.

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