On Wednesday, December 9, USAID’s Microenterprise Development office held its 37^th Microfinance Innovations After Hours Seminar on the topic of “Evaluating Risk Management in the Microfinance Community through Tools, Case Studies and Guiding Principles.”  The event, which was moderated by Thomás Debass of OPIC, introduced participants to the work conducted by the microRisk Alliance (MRA) Network, and the case studies and tools being developed by the MRA grantees. Mr. Debass opened the event by explaining the concept behind Learning Networks and the impetus for creating the MRA Network. Pam Brown, of Cygma, introduced MRA's mission and how the Alliance decided on the Principles of Risk Management in Microfinance; Brian Cox, of MFX Solutions, provided an overview of his organization's currency hedging products and services; and Robert Mora, of TriLinc Analytics Systems, introduced a case study on an NGO in Bangladesh and explained the risk management tools developed by his company.  The event concluded with a plenary discussion about how risk management is being addressed by the larger microfinance community and the tools being used to identify risk.

 

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>>Speaker Bios:

Pamela Brown is Director of Client Services at Cygma, a subsidiary of Chatham Financial. She brings over nine years of experience in social enterprise development and management, including five years in the field of microfinance. Prior to joining Chatham Financial in May 2007, she completed a Harvard Traveling Research Fellowship in rural India and was a researcher on an impact assessment of microfinance programs. She has conducted field research in microfinance in Africa and South Asia. Ms. Brown graduated magna cum laude from Brown University and received a Masters in Public Policy from Harvard University.


Brian Cox, Executive Director of Micro FX Solutions (MFX), a new facility providing currency risk education and hedging services to the microfinance industry.  He spent 10 years with the U.S. Treasury Department where he oversaw macro analysis and finance ministry/central bank relations for 46 countries across the Eurasia region, developed U.S. regional policy toward the International Financial Institutions and oversaw a $70 million microfinance technical assistance fund.  From 2000-2002, Mr. Cox was the Financial Attaché at the U.S. Embassy in Moscow. Mr. Cox also was Executive Vice President and COO of the U.S.-Russia Business Council, a Washington-based trade association.  Prior to joining Treasury in 1996, Mr. Cox worked as an analyst at a venture capital firm in Silicon Valley, investing in and restructuring healthcare and technology companies. Mr. Cox has a B.A. in Russian and Eastern European History and an MBA, both from Stanford University.