OREANDA-NEWS. January 08, 2010. The Association of Risk Professionals of Azerbaijan (ARPA) prepares to expand rows due to  national postal operator – Azerpocht.

The ARPA President and founder Rufat Makhmud said that risk management department was created in Azerpocht and they have started holding negotiations concerning membership of Azerpocht in the association.

“There are two membership methods – collective and individual.

Membership in ARPA opens access to resource base and career one of the association, grants right to privileged participation in training of the association.

If it is necessary, the association is prepared for giving consultations on development of inner system of risk management in Azerpocht,” R. Makhmud said.

Postal operator created risk management department within the framework of preparation for start of rendering financial services.

From July 14 to September 22, the Global Association of Risk Professionals (GARP) and ARPA with support of the Central Bank of Azerbaijan and the U.S. Agency for International Development (USAID) conducted 10-week courses for domestic banks’ risk management specialists.

ARPA was established in May, 2009. The major direction of organization’s activity is improvement of the level of knowledge of financial institutions and companies on risk management.

The association has already launched co-operation with the International Finance Corporation (IFC), Central Bank of Azerbaijan and GARP.

GARP certification (licensing) of risk managers is planned to be conducted in the future.