Industry led teaching involves an SFRA industry partner presenting a business problem/scenario to students with relevant pointers to background information
The students then address the problem and are marked by academics as part of their MSc studies
Industry partners are exposed to quality recruits
Students receive concrete, relevant problems to solve, and learn about recent industry developments in their area of academic study.
The advantage for academics is that students like having concrete, relevant problems to solve, and to learn further about recent industry developments in the student area of academic study. This makes their programme more appealing.
The advantages for the industry teachers is that it exposes them to recruits, meaning they can access good quality recruits. For example, the review of risk models was offered by the treasury arm of a bank targeting actuaries while the presentation for the project on fund management was 10% promoting the firm. As we aim to increase the breadth of academics involved with the SFRA, projects looking a cyber-risks/-crimes could be offered to computer science departments, exposing SFRA businesses to potential recruits.
Examples of Projects
Performing analysis of retail credit risk on a synthetic portfolio. The project involved reviewing papers, calculating Receiver-Operator Curves (ROC) and Area Under ROC (AUROC) and estimating Probability of Default and Loss Given Default for the portfolio
A review of bank regulatory frameworks and implications on bank behaviours
Use of Economic Scenario Generation for both valuation and projection
Comparison of performance of active and passive fund management
Review of risk models.
We aim to have industry led teaching offered exclusively online. This means the industry teacher should provide video “lectures” (voice over slides; videos should be 15-30 mins each). These are supplemented by the slides and additional readings, which can be documents produced by the industry teacher, online resources, or academic references. Finally, the industry teacher should provide a task for the students to do (quantitative – calculations based on a data set –or qualitative – a literature review or opinion). SFRA can give support and feedback if required.
These packages will then be offered to relevant departments at universities across Scotland. Individual departments will be able to supplement the industry contribution (for example a maths department might ask students to explore the theoretical basis of an approach).
Level of commitment
Draft and mutually approved delivery of presentation and learning materials
Presentation delivered on video by Industry Teacher
For further information please contact Stephen.Marshall@hw.ac.uk