Global Association of Risk Professionals Jointly Names The China Banking Regulatory Commission and its Chairman Liu Mingkang as its Risk Manager of the Year Award Winner for 2009By The Global Association Of Risk Professionals garp, PRNE
Monday, February 8, 2010
NEW YORK, LONDON and BEIJING, February 9 - The Global Association of Risk Professionals, (GARP, www.garp.org)
today jointly awarded the Association's 2009 Risk Manager of the Year Award
to The China Banking Regulatory Commission, (CBRC, www.cbrc.gov.cn)
and Liu Mingkang, Chairman of the CBRC.
(Photo: www.newscom.com/cgi-bin/prnh/20100209/NY52035 )
The China Banking Regulatory Commission and Liu Mingkang (bio:
www.cbrc.gov.cn/english/info/yjhjj/index_ld_lmk.jsp) were honored
during the Association's 11th Annual Risk Management Convention & Exhibition
on February 9, 2010 at the New York Marriott Marquis in New York City.
Richard Apostolik, Global Association of Risk Professionals President and
CEO, said, "The Risk Manager of the Year Award is presented in recognition of
outstanding contributions to the financial risk management profession. The
award takes on special meaning at a time when the recent financial crisis
left many of the world's largest banks on the brink of failure. We are
pleased to recognize The China Banking Regulatory Commission and Mr. Liu
Mingkang for their key role in orchestrating the recapitalization of China's
largest state-owned banks. We further recognize their efforts to implement
numerous disciplined risk management practices, regulatory oversight policies
and corporate governance initiatives, and strong commitment to the importance
of prudential banking regulation."
"Thank you, GARP, thank you all for your support. The people who make a
difference are not the ones with the prize, but the ones with the concern.
The regulators and supervisors the world over, are not only sharing the
common least thankful job, but also the common concern — the risks. We will,
as always, learn from you. And to our regulated friends, we will, as always,
work with you, for better, for worse, but definitely never for risks. Thank
you," said Liu Mingkang, Chairman of The China Banking Regulatory Commission.
Mr. Liu Mingkang became Chairman of The China Banking Regulatory
Commission in March 2003 and currently also serves as Chairman of the
International Advisory Council of the CBRC, a member of the Monetary Policy
Committee of the People's Bank of China, and a member of the 17th Central
Committee of the Communist Party of China.
About The China Banking Regulatory Commission
The main functions of The China Banking Regulatory Commission (CBRC)
www.cbrc.gov.cn are to formulate supervisory rules and regulations
governing the banking institutions; authorize the establishment, changes,
termination and business scope of the banking institutions; conduct on-site
examination and off-site surveillance of the banking institutions, and take
enforcement actions against rule-breaking behaviors; conduct fit-and-proper
tests on the senior managerial personnel of the banking institutions; compile
and publish statistics and reports of the overall banking industry in
accordance with relevant regulations; provide proposals on the resolution of
problem deposit-taking institutions in consultation with relevant regulatory
authorities; be responsible for the administration of the supervisory boards
of the major State-owned banking institutions; and other functions delegated
by the State Council. The supervisory focuses of the CBRC are to conduct
consolidated supervision to assess, monitor and mitigate the overall risks of
each banking institution as a legal entity; stay focused on risk-based
supervision and improvement of supervisory process and methods; urge banks to
put in place and maintain a system of internal controls and enhance
supervisory transparency in line with international standards and practices.
About 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.
Contacts: Carl Hymans Keith Campbell G.S. Schwartz & Co. G.S. Schwartz & Co +1-212-725-4500, ext 304 +1-212-725-4500 ext. 318 email@example.com firstname.lastname@example.org
Note to Editors:
A picture accompanying this release is available through the PA
Photowire. It can be downloaded from www.pa-mediapoint.press.net or
viewed at www.mediapoint.press.net or www.prnewswire.co.uk.
Carl Hymans, +1-212-725-4500, ext 304, carlh at schwartz.com, or Keith Campbell, +1-212-725-4500 ext. 318, kcampbell at schwartz.com, both of G.S. Schwartz & Co.
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