PRMIA and RIM Announce Merger

The Professional Risk Managers’ International Association (PRMIA) and The Risk Management Initiative in Microfinance (RIM) today announce their merger to meet the growing needs of the risk management community and elevate their mission to set standards and serve the risk management profession.

Once complete, the merger will allow PRMIA and RIM to increase the reach of their Institution Assessment Trainings, expand the RIM membership base, and create a certificate program for the microfinance industry. Combined, RIM and PRMIA will increase responsiveness to industry needs and trends in support of its mission. Both bodies gain access to a larger, more inclusive conversation about comprehensive and newly-emerging risks facing our industries and the setting of industry-wide standards.

“PRMIA and RIM align well given our similar grass roots beginnings and missions to promote the global adoption and implementation of appropriate risk management standards,” said Justin McCarthy, PRMIA Board Chair. He added, “Together we offer even more opportunities for industry professionals to come together to advance the profession.”

“Greater collaboration and networking help us to serve a wider risk community with the addition of financial inclusion and impact investing risk managers,” said Kraig Conrad, PRMIA CEO.

“Joining forces with PRMIA provides RIM with the operational platform and expertise to fully scale our global outreach while providing shared connection and learning opportunities between risk management professionals in the banking and microfinance communities,” said Massimo Vita, RIM Steering Committee Chairperson.

“Being anchored within PRMIA will provide our membership with the opportunity to thrive and collaborate amongst a larger, dedicated community of risk management practitioners, not only strengthening their ability to anticipate and manage risks, but also leveraging our ability as an initiative to anticipate and develop much-needed, industry-wide solutions,” said Kevin Fryatt, RIM Director.

Dedicated to defining and implementing the best practices of risk management in a broad range of industries and guided by the needs and voices of industry experts and practitioners, PRMIA provides an open forum for the development and promotion of the risk profession. With chapters around the world, PRMIA is a non-profit, member-led network dedicated to defining and implementing the best practices of risk management in a broad range of industries.

RIM is a collaborative, market strengthening initiative that brings microfinance sector professionals together to promote and support the implementation of stronger, more appropriate risk management in the microfinance sector. RIM has developed the Graduation Model, a framework for institutions within the microfinance sector to easily improve and strategically develop their internal risk management systems. Designed to identify gaps between current systems and industry standards, the Model ultimately provides guidelines—policies, limits, and tools—that provide quality and direction to future framework development.

RIM Announces 2017 Working Group Coordinator

March 10, 2017 (Washington, DC) – RIM is pleased to announce Lynn Exton as its Working Group Coordinator for 2017. RIM working groups bring members together to collaborate and solve shared risk management challenges through sharing experiences and risk management best practices.

RIM Director, Kevin Fryatt, said the Working Group Coordinator plays a critical role in establishing and providing continuity between RIM working groups to ensure they meet the needs of our members. “We are ecstatic that Lynn will be working with us in this capacity. She brings vast experience leading, participating in, and coordinating industry working groups and understands their unique dynamics. I am confident that Lynn will drive the progress of our working groups forward in 2017,” expressed Mr. Fryatt.

RIM currently has its Network Risk Reporting working group and is scheduled to develop additional groups in 2017 allowing members to engage with each other to solve shared challenges and create collaborative solutions to pressing industry issues.

For more information about the Network Risk Reporting working group, visit:

For more information about RIM working groups, contact Lynn Exton:


About RIM: RIM is a collaborative market strengthening initiative aimed at promoting and supporting the implementation of stronger, more appropriate risk management in the microfinance sector. RIM provides a platform for risk management standards development, information sharing, and industry cooperation. RIM’s active membership includes Access Microfinance Holding AG, Aga Khan Agency for Microfinance (AKAM), Alexandria Business Association (ABA), Appui au Développement Autonome (ADA), Calmeadow, Credit Access Asia, Mennonite Economic Development Associate (MEDA), MFX Solutions (MFX), Microfinanza Srl., Oikocredit, Pakistan Microfinance Network (PMN), and Pamiga.

For more information, visit or contact RIM’s Director, Kevin Fryatt at

RIM Prepares for the 2016 European Microfinance Week

Posted by George Herdeg, Intern, Risk management Initiative in Microfinance (RIM)

Look for the Risk management Initiative in Microfinance (RIM) at the upcoming European Microfinance Week in Luxembourg taking place between November 16 – 18. Kevin Fryatt, RIM’s Director, will be moderating a session on Thursday November 17th from 3:45pm – 5:15pm titled Would’ve, could’ve, should’ve: Lessons learned from a currency devaluation crisis in Azerbaijan. The panel will be discussing the currency devaluation crisis in Azerbaijan in 2015 and the failures within the microfinance industry to anticipate and mitigate loss in the crisis. The session’s purpose is to discuss the drivers of the crisis, how various actors have responded, and future strategies to protect clients and institutions against similar crises. More information on the 2016 European Microfinance Week is available on their website.

RIM Issues Expert Comments on the Basel Committee for Banking Supervision’s Guidance on the Application of the Core Principles for Institutions Relevant to Financial Inclusion

Posted by Kevin Fryatt, Director, Risk management Initiative in Microfinance (RIM)

RIM recently brought together a team of microfinance risk management experts to develop and submit comments on the Basel Committee on Banking Supervision’s (BCBS) Guidance on the application of the Core principles for effective banking supervision to the regulation and supervision of institutions relevant to financial inclusion published in December 2015. As outlined by the BCBS, this consultative document builds on past work by the Committee to elaborate additional guidance in the application of the Committee’s Core principles for effective banking supervision to the supervision of financial institutions engaged in serving the financially unserved and underserved. The proposed Guidance identifies 19 of the total 29 Core Principles where additional guidance is needed, and both Essential Criteria and Additional Criteria which have specific relevance to the financial inclusion context. The Guidance is intended to be useful to both BCBS member and non-member jurisdictions, including those jurisdictions in which supervisors are striving to comply with the Core Principles and who may implement this Guidance gradually over time.

To read RIM’s comments on the proposed Guidance, download the submission here.

Highlights from the 2015 European Microfinance Week

Posted by Kevin Fryatt, Director, Risk management Initiative in Microfinance (RIM)

On November 19, 2015, RIM participated in the European Microfinance Week moderating an interactive risk management session titled, “Towards the implementation of sustainable forward-looking risk management: challenges and lessons learned.” Catch the highlights of the session starting on page 24 of the official conference report.

For more information about the 2015 European Microfinance Week, please visit the official conference website.


Download the European Microfinance Platform 2015 Conference Report with RIM’s session starting on page 24: