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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 31,000 individuals located throughout North America, Europe, Australia, and Asia/Pacific. RMA brings financial institutions together through a series of consortia, councils, committees, and working groups on key issues. This includes RMA`s Climate Risk Consortia and the RMA Model Validation Consortium (MVC). Members of the MVC Advisory Council include Ally Bank, Forbright Bank, MUFG Bank, PNC Financial Services, U.S. Bank, and Zions Bancorporation.
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