Risk Management Agency

Risk Management Agency

Risk Management Agency

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Description:
The Risk Management Agency (RMA) of the U.S. Department of Agriculture helps producers manage their business risks through effective, market-based risk management solutions. RMA's mission is to promote, support, and regulate sound risk management solutions to preserve and strengthen the economic stability of America's agricultural producers. As part of this mission, RMA operates and manages the Federal Crop Insurance Corporation (FCIC). RMA was created in 1996; the FCIC was founded in 1938.

RMA employs approximately 530 people in offices around the country. The administrative budget is nearly US$79 million (FY 2008). Meanwhile, the size of the program has grown tremendously. In FY 2008, RMA is estimated to have managed nearly US$90 billion worth of insurance liabilities.

RMA Administrator William J. Murphy was appointed in July 2009. He also serves as the manager of the FCIC. Located within the Office of the Administrator are the Director of External Affairs, the Director of Civil Rights and Outreach, the Director of Program Support and Chief Information Officer, the Chief Financial Officer, and the Secretary to the Board of Directors of the FCIC.

The agency currently has three divisions: Insurance Services, Product Management, and Risk Compliance. Insurance Services Division is responsible for program delivery (e.g., managing the contracts with the companies that sell and service the policies), and local program administration and support. Product Management is responsible for...
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