GARP GAB

News And Views From The Global Association Of Risk Professionals

Membership:

GARP now has over 6,900 members representing over 85 countries. Individual membership in GARP is free and can be gotten through our internet site. .

Financial Risk Manager of the Year Award

The Global Association of Risk Professionals is now accepting nominations for Financial Risk Manager of the Year. The deadline for submitting nominations is October 1, 1999. This award was developed to recognize the outstanding contributions of an individual who has advanced and influenced the profession of financial risk management. The award will be presented at a special event to be held in New York City in early December.

Nominations should be in the form of a brief, written essay that demonstrates how the candidate has advanced and influenced the profession of financial risk management.

Please include the following information when submitting your nominations:

Your Contact Information:

Name; Mailing Address; Title; Telephone and Fax Number; Organization; E-Mail Address.

Nominee Information

: Name; E-Mail Address; Title; Number of years in the financial risk management profession; Organization; Employment Background; Mailing Address; Educational Background; Telephone and Fax Number. When preparing the essay, consideration can be given to one or more of the following aspects regarding the individual's contribution to the financial risk management profession: Have they

advanced financial risk management education

contributed to the development and/or use of new technologies

adapted a common theory, technique or practice from another field to financial risk management

used financial instruments in an innovative manner for financial risk management purposes

are known for presenting or publishing new and innovative ideas and concepts

demonstrated a financial benefit to their organization

revolutionized the understanding of industry wide practices

developed an industry wide accepted practice

developed innovative policies and procedures

This information is provided only as a general guideline to assist you with preparing the essay. Alternatively, you can download the , (Microsoft Word 6.0 format) and submit it with your essay. Submissions can be to delivered to GARP via: E-Mail: ; Fax: 914-747-7692

Regular Mail:

Global Association of Risk Professionals
Risk Manager of the Year Award
980 Broadway-Suite 242
Tarrytown, NY 10594

General Meeting Announcements

Boston

Date: Wednesday, September 15, 1999
Time: 5:30 p.m. to 7:00 p.m.
Topic: Incorporating Implied Volatility into Risk Models
Presented by: Nick Wade

Senior Research Analyst
Northfield Information Systems
Hosted by: State Street Bank

VaR models handicap themselves by over-reliance on historical information. Changes in options implied volatility is a real-time, forward looking estimate of risk. As such, significant changes in volatility can be used to set standard deviation of forecase errors.

Registration Information:

There is no cost to attend but registration is required. To register please send a e-mail to the contact below.

Contact Information:

Deborah Williams dwilliams@meridien-research.com.

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