Current Operations - Donations
The Risk Management Facility provides comprehensive and integrated risk management tools and training to microfinance institutions (MFIs) in Latin America and the Caribbean. After identifying lack of proper risk management as a key industry bottleneck, Omtrix Inc. launched the Facility in February 2008. The Facility combines both international risk management standards and countriesâï¿½ï¿½ specific regulatory requirements in creating its risk management tools and manuals which address the unique needs of the microfinance industry. A highly trained and experienced group of consultants implement the risk management training on site with individual MFIs. RMF addresses credit, market (including price and currency risk), liquidity, and operational risks among others. As of June 2010, fourteen MFIs have benefited from the RMFâï¿½ï¿½s program.
RMF is donor funded and has commitments from well-regarded industry participants such as the State Secretariat for Economic Affairs (SECO), Appui au DÃ©velopment Autonome (ADA), DOEN Foundation, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO), and the Calmeadow Foundation. Calmeadow has committed US$300,000 to the RMF.
As of October 2010, 17 MFIs located in 8 countries of Latin America have benefited from the program.