Global Association of Risk Professionals To Present 2009 Risk Manager of the Year Award at Opening of Its 11th Annual Risk Management Convention and Exhibition in New York City

NEW YORK, LONDON and BEIJING, Feb. 4 /PRNewswire/ -- The Global Association of Risk Professionals, (GARP, www.garp.org) will present its 2009 Risk Manager of the Year Award at the Association's 11th Annual Risk Management Convention & Exhibition on February 9, 2010 at the New York Marriott Marquis in New York City.

The Risk Manager of the Year Award was established in 1997 by the Association to recognize the outstanding contributions and positive impact made by individuals or organizations to the financial risk management profession. The award recognizes the outstanding contributions of an individual or group who have materially advanced and influenced the financial risk profession.

Richard Apostolik, Global Association of Risk Professionals President and CEO, said, "For the past 12 years, award recipients have been nominated and recognized by their peers for their expertise and contributions in risk management.  Award recipients are preeminent risk management professionals or organizations who have achieved recognition for their work experience in the field, either as a practitioner, academic or regulator."  

Previous Risk Manager of the Year Award winners include E. Gerald Corrigan, former Managing Director and current Partner of Goldman Sachs, where he is the co-chair of the firm-wide Risk Management Committee.  He has authored numerous speeches and statements before Congressional Committees, is a former President and Chief Executive Officer of the Federal Reserve Bank of New York and has served as Special Assistant to Fed Chairman, Paul A. Volcker.

Another Risk Manager of the Year Award winner was Robert Shiller, well-known economist and Stanley B. Resor, Professor of Economics at Yale University. He is best known for his book "Irrational Exuberance," a New York Times best-seller, which predicted the burst of the stock market bubble in the late 1990s, and warned about the emergence of a housing bubble after the dot-com bubble burst in 2000.  

The award has not been limited to individuals, and, in 2007, was presented to the European Central Bank (ECB) which successfully transitioned the European Union to a single currency, while controlling the monetary and economic effects related to the expansion of the EU as it assimilated new countries into the single currency. The ECB was clearly in the lead in foreseeing and increasing risks to the financial system derived from the sub-prime market.

Last year, the award was presented to Dr. Rene M. Stulz, Reese Chair in Banking and Monetary Economics and Professor of Finance at the Fisher College of Business at Ohio State University.  Dr. Stulz has consulted for major corporations, law firms, the New York Stock Exchange, the IMF, and the World Bank and has been named one of the 100 most influential people in finance by Treasury and Risk Management. List of Previous Risk Managers of the Year.

This year's award recipient will be named at the Association's 11th Annual Risk Management Convention & Exhibition on February 9, 2010 during the welcome address at 8:30am.

About The Global Association of Risk Professionals

The Global Association of Risk Professionals (GARP) is a not-for-profit independent association of over 100,000 risk management practitioners and researchers representing banks, investment management firms, government agencies, academic institutions, and corporations from more than 167 countries worldwide.  It also administers the Financial Risk Manager (FRM) certification recognized by financial risk professionals worldwide, and, in conjunction with the American Petroleum Institute, established the Energy Risk Professional (ERP) certification.  As the leading professional association for risk managers, GARP's mission is to advance the risk profession through education, training and the promotion of best practices globally. www.garp.org.

SOURCE The Global Association of Risk Professionals (GARP)

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