30 June 2006
New Berkeley-NUS Risk Management Institute aims to spur financial education and research in Singapore and the region
The National University of Singapore (NUS) is partnering with the Haas School of Business at the University of California, Berkeley (UC Berkeley), to establish the Berkeley-NUS Risk Management Institute (RMI). This institute will generate and disseminate leading knowledge on risk management through financial research, executive education and certification programmes. Located at NUS, the institute will be operational in August 2006.
RMI seeks to complement financial institutions’ efforts to enhance their risk management expertise to meet the increasing complexity in financial services. Advances in risk management will also spur the development of new financial products and structures which will add to the depth and sophistication of the financial markets in Singapore and the region. The establishment of RMI is supported by the Monetary Authority of Singapore (MAS) under its Programme on Risk Management and Financial Innovation.
RMI will work closely with the financial industry to attract and train high calibre finance professionals and to generate strong major multi-disciplinary research programmes that are relevant to industry.
In addition, RMI will draw on the NUS’ expertise in relevant areas such as finance, financial mathematics, statistics, economics, computing and law. NUS Deputy President and Provost, Professor Tan Chorh Chuan says, “This partnership between NUS and UC Berkeley, with its tremendous strengths in finance and risk management, will enable the RMI to provide high quality research and education programmes in risk management, that will distinguish it regionally and internationally. We would like to thank MAS for its strong support in making the establishment of RMI possible.”
“We are very pleased to join forces with the National University of Singapore to provide the best possible risk management programmes to the finance professionals of Singapore,” says Professor Tom Campbell, Dean of UC Berkeley’s Haas School of Business. “Finance is becoming an increasingly global industry. Research and teaching in this area are greatly enhanced when they are led by the kind of international faculty you find at UC Berkeley and NUS.”
Top financial institutions and finance-related companies including Citigroup, Barclays Capital, Lions Capital, Reuters, Sungard Monis, Fermat and Axioma welcome the establishment of RMI.
"As the first of its kind in Singapore, the RMI's comprehensive programmes in research, education and training, aimed at developing talent, will play a significant role in enhancing Singapore's status as a key financial hub in Asia," says Ms Catherine Weir, Head of ASEAN, Citigroup Corporate & Investment Banking Citigroup Country Officer, Singapore.
"I congratulate the National University of Singapore on this pioneering initiative and look forward to our intellectual partnership in this area,” says Mr Robert Morrice, CEO and Chairman of Barclays in Asia-Pacific. “As a leading practitioner that interacts regularly with a variety of risk managers globally, Barclays Capital is well placed to contribute to the study of topical issues in the fast-evolving field of risk management".
Executive Programmes
RMI targets to offer a joint Berkeley-NUS Certificate in Financial Engineering programme by January 2007. Modelled after highly successful Certificate in Financial Engineering at UC Berkeley’s Haas School of Business, this three-week programme will equip investment professionals with the latest financial engineering methods to meet challenges in corporate strategy, risk management, securities valuation, asset management and securities trading.
RMI also plans to conduct Certification Programmes in Risk Management (in collaboration with Professional Risk Managers’ International Association), Quantitative Finance and Risk Management.
Education
RMI will offer a Masters in Financial Engineering programme, where students will be conferred a degree by NUS’ Faculty of Science. There are also plans for a PhD programme in Quantitative Finance and Risk Management.
Research
RMI will carry out multi-disciplinary research programmes in areas including financial risk management, mathematical and statistical modeling of financial and derivative securities, measurement, modeling, analyses and regulation of economic risks in the financial and banking sectors. Emphasis will be placed on financial, economic and risk management issues pertinent to the Asian context.
RMI will develop financial databases that will spur intensive financial research in the region, and which will also be useful in guiding the formulation of regulations and guidelines pertaining to risk management for financial institutions and multi-national corporations.
Interaction and Exchange
RMI plans to organise annual workshops, conferences and forums that will bring together globally prominent speakers on contemporary issues in financial economics and risk management.
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