Global Association of Risk Professionals and the American Petroleum Institute Launch Energy Risk Professional (ERP) Program

Establishes New Designation for Risk Professionals in the Energy Sector

NEW YORK and LONDON, June 9 /PRNewswire-USNewswire/ — The Global Association of Risk Professionals, (GARP, www.garp.org) and the American Petroleum Institute (API, www.api.org) today announced the launch of GARP’s Energy Risk Professional (ERP) certification program. Created with direct input from leading energy risk experts and practitioners from around the world, the program is designed to comprehensively measure an energy risk professional’s ability to manage risk in a real-world environment across diverse energy areas as well as financial marketplaces.

Designed to unite energy risk professionals worldwide by establishing a community via a common body of knowledge and “language,” the ERP program encompasses both downstream and upstream processes as well as diverse energy commodities.

Physical energy markets covered in the ERP program include: exploration, production and risk management techniques for crude oil, refined petroleum products, natural gas, liquefied natural gas, coal, electricity, and alternative energies. Successful candidates will also attain a broad understanding of the sophisticated financial instruments and risk management approaches used by producers and consumers to price and hedge energy products. Moreover, candidates will gain fundamental knowledge of the many regulations applying to the management and supervision of financial risk in the energy industry.

John Modine, Director of Training and Certification of the API, stated, “Increasing global interdependence of complex energy products requires sophisticated management of risk – from the ground to the trading floor – as well as individuals trained to handle the challenges. We are very pleased to work with GARP in order to expand both our organizations’ services to include a designation for professionals in the energy sector, and we encourage anyone practicing in this area to expand his or her qualifications and credentials by completing this course of study.”

Richard Apostolik, Global Association of Risk Professionals President and CEO, said, “The aim of the ERP is to develop a candidate’s knowledge of the energy industry based on accepted industry standards and practices. The knowledge gained from this program provides energy risk managers with a comprehensive understanding of potential risks associated with the physical and financial energy marketplaces, preparing them to better identify and manage a wide array of real-life scenarios. We have been very grateful for the input from the worldwide energy community in the development of this program and greatly appreciate the support of the API.”

Registration for the October 2009 exam began on June 1, 2009. The ERP Exam will initially be offered electronically during a one week period, starting Monday, October 19th through Saturday, October 24, 2009 at Pearson VUE testing centers worldwide. A complete list of the test centers can be found on the Pearson VUE website: www.vue.com/garp.

Going forward, the ERP Exam will be offered during two, one-week periods in 2010. Starting Monday, April 19th through Saturday, April 24, 2010; and again starting on Monday, October 18th through Saturday, October 23, 2010.

GARP will offer a continuing professional education program for ERP holders and expects to announce details during the summer 2009.

Additional information about the new ERP program can be found at www.garp.org/erpexam.

About The American Petroleum Institute

The American Petroleum Institute, (API) www.api.org, is the only national trade association that represents all aspects of America’s oil and natural gas industry. Our 400 corporate members, from the largest major oil company to the smallest of independents, come from all segments of the industry. They are producers, refiners, suppliers, pipeline operators and marine transporters; as well API is recognized around the world for its broad range of programs including Advocacy, Research and Statistics, Standards, Training, Certification, and Education.

About The Global Association of Risk Professionals

The Global Association of Risk Professionals (GARP) is a not-for-profit independent association of close to 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), the certification recognized by financial risk professionals worldwide. As the leading professional association for risk managers, GARP’s mission is to advance the knowledge and expertise of financial risk management through education, training and the promotion of best practices globally. www.garp.org.

    Contacts:
    Carl Hymans                        Elisabeth Behr
    G.S. Schwartz & Co.                G.S. Schwartz & Co
    212-725-4500, ext 304              212-725-4500 ext. 323
    carlh@schwartz.com                 ebehr@schwartz.com

SOURCE Global Association of Risk Professionals