The RMA Foundation was formed in 2014 as a 501(c)(3) wholly owned subsidiary of the Risk Management Association (RMA) in response to the banking industry’s need to attract talent in a changing landscape and encourage students to pursue careers in the banking industry, primarily focused on awarding undergraduate scholarship awards.
WHAT WE DO
Attract talent and develop future leaders.
HOW WE DO IT
Partner with members and universities.
The banking industry is diverse and offers a wide range of career paths, from financial analysis and risk management to sales and marketing. There is something for everyone, regardless of background or skill set. The RMA Foundation and Academic Program partner with financial institutions, universities, and volunteers to demonstrate why banking is a compelling career.
In support of the Foundation’s mission, RMA has partnered with several Historically Black Colleges and Universities (HBCU) and other Minority-Serving Institutions (MSI) to develop a Future Bankers Program. The program is designed to assist students in launching careers in banking, to support member banks with diverse hiring initiatives by connecting them with future industry leaders, and to create opportunities for local RMA chapters to engage with and mentor students.
RMA partners with more than 25 universities across the country to administer the Credit Essentials Course and Certificate program, providing access to RMA membership, resources, and thought leadership. Earning the Credit Essentials Certificate allows students to stand out among their peers when exploring the job market. It also helps employers identify high-quality, committed candidates who can be productive more quickly given the training already completed.
Students who earn the Credit Essentials Certificate are said to have a 9–to-12-month advantage in experience over others at the outset of their careers. Over 1,500 students have earned the Credit Essentials Certificate since 2015.
Since its inception, the RMA Foundation has awarded over $1.7 million in scholarships. The scholarships are part of the Academic Program's work with colleges and universities to cultivate and train bankers from their pre-graduate days through executive leadership.
Through their scholarship applications, the winners demonstrate not only academic achievement and an understanding and passion for financial services, but also an appreciation for banking's importance to families, businesses, and local communities.
