Steve CHAN

BSc in Risk Management Science
UBS AG

It was my great honour to join the Industrial Placement Program (IPP) at UBS AG last year. During this one-year internship, I was involved in many different projects to automate and improve processes throughout the trade lifecycle. I played different roles in these projects, including that of a business analyst, a developer and even a project manager overseeing the progress of the projects. Majoring in RMSC helped me greatly in this internship, especially in terms of hard skills and financial knowledge.

In terms of hard skills, the advanced courses enabled me to develop my programming muscles. Because coding is required for derivatives pricing and simulation in some courses, the training in Excel VBA and R enabled me to perform my tasks in the internship. The machine learning and data analysis courses also helped me acquire both the theoretical knowledge and practical skills to process large amounts of data.

In terms of financial knowledge, RMSC courses provided me with a deep understanding of various kinds of financial products and exotic derivatives, rather than merely descriptive financial knowledge. For instance, CBBC (Callable Bull/Bear Contract), Variance Swap and other ‘real-world’ products were covered in these courses. Although stochastic calculus and the pricing of exotic derivatives might not have been much use in my internship work, studying these topics helped me to understand the nature and the background operations of these structured products. Surprisingly, these lessons facilitated my adaptability at the bank and smoothed the process of developing automation and process improvements.

In addition to this technical work, my internship provided opportunities to chair meetings and to present in front of a large audience. I had confidence in my presentation skills due to the reading courses in the RMSC curriculum. The experience of presenting selected topics or news in the financial industry has helped me prepare to go through technical material with an audience. I believe that this kind of soft skill is of utmost importance in my work because my responsibility goes beyond coding and delivery. I need to ask questions and explain my logic to different stakeholders, and any misunderstandings could lead to work having to be redone or, in the worst case, SFC fines. Therefore, good communication skills can help me to manage stakeholders’ expectations and, of course, reduce the risk in what I deliver.

Overall, this one-year internship gave me a glimpse of real-world practices and an opportunity to transfer what I have learnt in the RMSC courses to the workplace. Again, I am most grateful to UBS AG and the Department of Statistics for this opportunity and for their support.

Kam To CHOW

BSc in Risk Management Science
Aston University, United Kingdom

I had the incredible opportunity to participate in an exchange programme at Aston University in Birmingham, United Kingdom. My choice of the UK as the exchange destination was influenced by the historical ties between the UK and Hong Kong, as well as my passion for football and the renowned Premier League. Additionally, Aston University’s reputation in engineering and statistics made it the ideal choice for my academic pursuits.

One of my favourite modules at Aston University was CS3DM_Techniques for Data Analysis (Data Mining). This course delved into the various techniques used in data mining, such as classification, regression, clustering, data processing, and model building. The course’s practical approach, balanced with theoretical concepts, was particularly appealing. The professor incorporated real-life examples and datasets, allowing us to apply our knowledge meaningfully. Weekly tutorial tasks sharpened my data analytics and visualisation skills using Python, providing valuable hands-on experience.

Moreover, the course highlighted the significance of data mining across various industries. We explored how data mining can be used in finance, healthcare, and marketing, among other fields. This broadened my perspective on the potential applications of data analysis and provided insights into the practical implications of the techniques learned. It was fascinating to see how data mining has become an indispensable tool for decision-making and problem-solving in today’s data-driven world.

In conclusion, my exchange experience at Aston University was a remarkable adventure that provided me with valuable academic and cultural experiences. From the engaging modules to the study freedom and interactions with individuals from around the globe, I am grateful for the opportunity to explore the UK and expand my knowledge in the field of statistics. This exchange programme broadened my horizons and allowed me to develop a deeper understanding of the world. The memories and lessons from this experience will forever hold a special place in my heart, shaping my personal and academic growth.