RMA Launches Learning Platform to Help Banks Upskill Workforce

News provided by

Oct 20, 2022, 09:00 ET

Mid-Size and Community Banks Cite Credit Risk Training as Top Need

PHILADELPHIA, Oct. 20, 2022 /PRNewswire/ -- The Risk Management Association (RMA), whose members represent 90% of North American bank assets, officially launched RMA Ignite, its new online learning and development platform, today, at a time when skilled talent and resourcing risks top the industry's concerns.

RMA Ignite features more than 70 self-directed online learning modules totaling more than 130 hours of content, plus a growing library of microlearning modules, most on the crucial topic of credit risk. Ignite users also can find and register for dozens of instructor-led courses, and design a curated curriculum to strengthen their skills and build their careers.

"Growing and maintaining a skilled workforce is the top challenge for banks of all sizes, but particularly for mid-size and community banks" said RMA President and CEO Nancy Foster. "RMA Ignite helps financial institutions address this challenge by providing on-demand education on the important topic of credit risk, a priority of all banks through every economic cycle."

In an RMA survey of more than 300 bankers, 69% of those representing banks with $1 billion to $49 billion in assets and 63% of those with assets of $1 billion or less said credit training was their greatest need.

"People risk is one of the biggest risks at any organization, but particularly at banks, where we are highly regulated and are focusing on our clients' financial futures," said Michela Vernon, Chief Learning Officer for Truist and the chair of the RMA member council on Learning and Development. "RMA designed this new online platform to more easily develop and retain teams at banks like ours and to make continuing risk education available on a wider scale."

RMA Ignite is available for individuals through unlimited-use one-year subscriptions. RMA plans to offer a bank-wide subscription in coming months to facilitate broad industry training.

Attendees at RMA's Annual Risk Management Conference, taking place from October 23-25 in Washington, D.C., will be invited to demo the platform at its unveiling.

About Risk Management Association (RMA)

Founded in 1914, the Risk Management Association is a not-for-profit, member-driven professional association whose sole purpose is to advance the use of sound risk management principles in the financial services industry. RMA promotes an enterprise approach to risk management that focuses on credit risk, market risk, and operational risk. Headquartered in Philadelphia, Pennsylvania, RMA has 1,600 institutional members that include banks of all sizes as well as nonbank financial institutions. They are represented in the Association by 35,000 individuals located throughout North America, Europe, Australia, and Asia/Pacific.

SOURCE The Risk Management Association