Actuarial Science Students Secure Victory in 2024 PRMIA Risk Management Challenge

Two Actuarial Science students, Ziqi XU and Muhammad HUSSAIN of the Department of Statistics and Actuarial Science, along with a student from the Faculty of Engineering, formed Team BossTon and achieved victory in the prestigious 2024 PRMIA Risk Management Challenge (PRMC).

This year, the renowned competition focused on the banking crisis in 2023, and the team showcased their comprehensive understanding by delivering a concise analysis of the origins and progression of the crisis. Their presentation explored key factors such as interest rates, regulatory conditions, and internal risk management shortcomings.

Employing a blend of conventional and innovative approaches, the team proposed various solutions to address the crisis. Their ideas included utilising algorithms to analyse social media sentiment and assess the stability of a bank's deposit franchise. They also advocated for adopting Central Bank Digital Currencies (CBDCs), immunisation strategies, and an enhanced regulatory framework for banks.

Their victory holds significant importance as they surpassed master's students from leading business schools worldwide. This accomplishment not only showcases their exceptional abilities but also reflects the outstanding quality of education offered by the programme.

Click here to learn more about the 2024 PRMIA Risk Management Challenge.