IIF and the Global Association of Risk Professionals Jointly Launch Special Programs...

IIF and the Global Association of Risk Professionals Jointly Launch Special
Programs on Risk Governance for Boards of Directors in the Financial Industry

WASHINGTON, April 29 /PRNewswire/ -- The Institute of International Finance
(IIF) and the Global Association of Risk Professionals (GARP) are leveraging
their respective strengths to jointly launch a program on "Risk Governance for
Boards of Directors in the Financial Industry." Strengthening the board's role
in the understanding of risk governance is an essential element in efforts to
draw lessons from the financial crisis and implement reforms.

GARP emphasized that the program is a valuable tool to further its commitment
to the advancement of both the risk management profession and professionals in
the financial industry, and a timely response to the current crisis and
consequent challenges in the risk management environment. The IIF noted that
this professional development program contributes to the implementation of the
principles and recommendations on the roles of boards of directors in the
Final Report of the IIF Committee on Market Best Practices(1), July 2008.

Mr. Charles Dallara, IIF Managing Director, said, "We are witnessing many
firms across the world moving forward to implement the recommendations in the
Final Report. This program for boards of directors is part of a broad strategy
to assist firms raising the bar in line with market best practices. We are
delighted to work with GARP given its risk management expertise and its long
tradition in delivering high-quality specialized training."

Mr. Richard Apostolik, President and CEO, Global Association of Risk
Professionals added, "The ultimate goal of the IIF-GARP Program is to ensure
that Boards can engage in effective dialogue with company executives and
day-to-day risk management functions, and provide the knowledgeable oversight
that is essential to their purpose. It represents a true convergence of IIF
and GARP interests in promoting sound risk management practices globally."

Dr. Abdessatar Ouanes, IIF Director of Professional Development and Mr. Jaidev
Iyer, Managing Director of Global Business Development at GARP worked together
to create this partnership. In a joint statement, they said, "The IIF-GARP
initiative offers firm-specific programs at the Board level, which include
senior executives engaged in all aspects of risk management. These one-day
programs will be tailored to the specific needs and risks embedded in the
firm. One key take-away will be a dashboard tool that will help guide board
members in the fulfillment of their risk management oversight."

About IIF
The Institute of International Finance, Inc. (IIF) is the leading global
association of financial services firms with over 360 members in 70 countries.
The IIF's main activities and services are: (a) to provide high-quality,
timely, and impartial analysis and research to members; (b) to develop and
advance representative views and constructive proposals that influence the
public debate on particular policy proposals; (c) to provide a network for
members to exchange views and offer opportunities for effective dialogue; and
(d) to support education and training efforts of members in priority areas.
www.iif.com

About GARP
The Global Association of Risk Professionals (GARP) is an association of
nearly 100,000 risk management practitioners and researchers representing
banks, investment management firms, government agencies, regulatory agencies,
academic institutions, and corporations from more than 167 countries
worldwide. GARP aims at leadership in setting practice-driven standards in
financial risk management through education and certification programs on a
truly global platform. GARP administers the FRM (Financial Risk Manager)
program, the certification recognized by financial professionals worldwide.
www.garp.com

(1) Final Report of the IIF Committee on Market Best Practices: Principles of
Conduct and Best Practice Recommendations. Financial Services Industry
Response to the Market Turmoil of 2007-2008. July 17, 2008.

IIF Media Contact:
Frank Vogl, Tel: US+ 202 331 8183 e-mail: voglcom@gmail.com

GARP Media Contact:
Debra Berliner: dberliner@schwartz.com or Carl Hymans: carlh@schwartz.com

SOURCE Global Association of Risk Professionals

IIF Media, Frank Vogl, +1-202-331-8183, voglcom@gmail.com; or GARP Media,
Debra Berliner, dberliner@schwartz.com or Carl Hymans, carlh@schwartz.com