1 minute read
PRMIA Risk Management Challenge goes
PRMIA Risk Management Challenge goes virtual in the face of COVID-19
The 58 student teams participating in this year’s Risk Management Challenge case competition faced an extra challenge – going virtual due to COVID-19. Lauren Tabolinsky, Academic Programs Manager for MathWorks, the 2020 Risk Management Challenge global sponsor, shares,
Advertisement
“Students from around the globe had been working for months on their case solutions to the PRMIA Risk Management Challenge. When cancellation of the inperson finals event became imminent due to COVID-19 restrictions, PRMIA and MathWorks embarked on a collaborative effort to host the competition in a virtual environment. This nimble response to a rapidly evolving situation enabled these dedicated students to reap the benefits of the competition and resulted in a highly successful event for everyone involved.”
The annual case competition empowers undergraduate and graduate students by taking them beyond the classroom and giving them exposure to real-world business situations. The Challenge offers students the opportunity to apply the concepts they have learned and showcase their knowledge, critical thinking skills, leadership, and presentation abilities. Our congratulations go out to this year’s champions, Team 9893 from Baruch College, New York: Alyssa Wei, Li Jin Chen, Kanica Khatri, and Claudio Matteo Lin.
The 2020 Risk Management Challenge focused on addressing risk management at the Long-Term Capital Management Hedge Fund. Teams worked on improving the risk governance of the fund and on developing a contemporary stress testing scenario for the fund. Trade analytics were employed on various trading strategies to evaluate their risks, and the counter-party structure of the fund was analyzed and redesigned for improved resiliency.
Students also participated in a MATLAB challenge, designing their own pair-trading algorithms that were tested out of sample and were scored for performance, improved parameterization, and risk analysis.
To read more about the 2020 Risk Management Challenge, read the feature article in the May/June issue of Associations North.
To view the recordings of the PRMC, please visit PRMIA’s YouTube channel.
