Hoi Ching LEUNG

BSc in Risk Management Science
HSBC Life

I worked in HSBC Life as a co-op student trainee for six months in the actuarial, risk and analytics department. I enjoyed being part of such a harmonious team and gained valuable experience.

My main task was to support scenario generation using Moody’s Economic Scenario Generator. Although I had never used the relevant software before, the company provided solid training that enabled me to carry out my work smoothly. Thanks to the courses provided by CUHK for RMSC students, I had a good understanding of my work and the figures I was supposed to use for analysis. My background knowledge – from minor concepts such as different rates and their implications to major concepts such as the various assumptions made when simulating the distribution of a project – made me more confident in undertaking the multiple aspects of my work.

I also helped with financial reporting, which is related to business and does not involve complicated calculations. Again, the RMSC courses had provided me with relevant knowledge of basic economics and accounting. Therefore, I was able to identify the workings of spreadsheets in terms of accounting accuracy.

In sum, the internship gave me real-world work experience and equipped me with appropriate professional attitudes and communication skills. The RMSC Programme has provided me with knowledge relevant to my future career.

Hei Ming CHENG

BSc in Risk Management Science
Lund University, Sweden

During the first half of 2017, I experienced a very fruitful semester in Lund University, Sweden. The mathematical statistics courses in Lund University suited my academic needs unexpectedly well. During the time of being an exchange student, I left some of the specific investigation in my major study like investment strategy for a period, and went back to the inevitable fundamentals, statistics and mathematics.

During the training in Lund University, I was introduced into non-parametric inference. I found that the investigation in statistical convergence is very crucial when it comes to different applications like simulation techniques, confidence intervals of parameter estimates and statistical model fitting. Also the study in empirical distribution contributes a lot in survival analysis, actuarial science and non-parametric bootstrap. Only through understanding the mathematics behind can we ensure whether we are using the statistical tools in the correct way and right situation. By learning statistical inference, I believe I am able to take several steps further when I return back to my specific major study.

Besides, I took some courses highly related to my major study, which are Monte-Carlo Simulation and Extreme Value Theory. The simulation course exactly covered the materials which are not taught in the course RMSC4001, such as sequential importance sampling, markov chain monte-carlo and bootstrap techniques. Although it introduced the random number generation and variance reduction techniques in the beginning, most of the contents were still fresh to me. The extreme value course is mostly about modeling the extreme values in 3 different approach, which are block maxima, threshold model and point process, and the relations between their respective statistical distributions.

Last but not least, I took a Swedish introductory course for international students in the very beginning of the semester. I met friends from different countries there and we all agreed that Swedish is a vague language to learn.