The Hong Kong University of Science and Technology (HKUST) has staged a Symposium on Risk Management and Business Intelligence to offer a diversity of perspectives.
The Symposium featured a wide range of speakers from the academic, banking, asset management and consultancy sectors. It drew over 300 audiences mainly from the business and academic sectors.
Mr Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority gave a keynote speech. He stressed that the Hong Kong Monetary Authority has taken initiatives to enhance the risk management practice of the banking sector in Hong Kong.
These initiatives include the recent issuance of a new set of guidelines on the remuneration structure for senior bank executives and for employees responsible for taking on risk. “In line with the international consensus in this area, we want banks to take a longer-term view of the risks taken by bank staff, and we want fuller disclosure of the banks’ remuneration policies,” Mr Yuen said.
The other initiatives include continuing to take a prudent approach to residential mortgage lending, and improved macro-prudential surveillance and stress testing.
The array of other guest speakers started with Dr Gongyue Gary Chen, Principal Consultant, Advisory, Fitch Solutions & Algorithmics, Fitch Group. Dr Chen spoke on the financial risks and development trend of enterprise risk management.
From Mainland academia, Dr Joshua Huang, Chief Scientist, Shenzhen Institutes of Advanced Technology, Chinese Academy of Sciences. He gave an overview on massive data mining and information service.
A banking perspective was presented by Dr Qin-chang Cheng, Senior Manager, Independent Model Review and Oversight, Asia Pacific Risk, HSBC. Dr Cheng delighted the audience with his presentation on multi-disciplinary business intelligence.
Completing the circle of experts was Dr Violet Lo, Executive Director, Insurance, Pensions & Endowments Group, Goldman Sachs. She shared with the audience her expertise in asset liability management and capital management in the financial market.
Prof Mike So, Program Director of the BSc in Risk Management and Business Intelligence at HKUST, expressed optimism about the profession of risk management and business intelligence.
“Risk management and business intelligence at HKUST is a platform that bonds students, teachers, industry and the government together. While professors transfer knowledge to students, students can also contribute to the research projects carried out by professors through programs such as HKUST’s Undergraduate Research Opportunities Program. Research results are communicated to industry practitioners, who intern provide real data for academics to study. Meanwhile, data generated by academics and industry practitioners form the basis for the development of government policy,” Prof So said.
He added, “With all these players in place, Hong Kong is well positioned to become a hub for risk management and business intelligence. We should therefore work together to meet the challenge of the information-driven age!”
For media enquiries, please feel free to contact :
Ross Lai
Tel: 2358 6306 / 9103 2928
Email: rosslai@ust.hk
Donna Wong
Tel: 2358 6317
Email: donnaw@ust.hk
