The Challenge set student teams the task of solving realistic business problems from a risk management perspective.
The four MSc Risk Management & Financial Engineering students won the London round of the Challenge after facing stiff competition from other student teams.
Yubo said, “The London final was a case study on the business model of a distressed insurance company. Participating teams were asked to provide innovative and practical solutions for the firm to tackle its problems.”
The team spent a lot of time preparing. “In order to gain a deep understanding of insurance pricing and to re-design the firm’s model,” said Yubo, “we delved into the literature. My teammates gathered some excellent academic papers. After a series of group discussions, we agreed on a final approach to the problem.”
“We then gave it plenty of thought regarding the best way to convey our solution. We carefully designed our presentation slides so that it provided effective visual aids without flooding the audience with technical information.”
The team pulled on the knowledge they had developed on their programme. “I think that studies at Imperial College helped us to tackle the case in a right way, to organize our working process, discussions and brainstorming”, said Anastasia.
They also made use of other resources available to the Imperial College Business School’s students. They booked an appointment with the School’s Careers service, rehearsing their presentation with the consultant and learning how to structure it.
Yubo said, “When the day of the competition came, we felt very well prepared and I am so glad that our hard work paid off eventually”.
“It was our honour to represent the Business School in competing for the London championship, as the competition was such a high-profile one with strong teams from other universities including LBS and UCL. We were absolutely thrilled when the result was announced.”
After the Imperial students won the London finals, they had a chance to go to Toronto, Canada, to compete against six other teams from around the world.
“Studying at Imperial and especially the Business School has definitely helped us in the Challenge”, observed Anastasia. “The courses we took in the programme exposed us to a range of quantitative tools in banking and finance, which certainly helped us to tackle the questions in a sophisticated and rigorous way.”
“During the competition – from the preliminary stage to the global final in Toronto – we received help from the Careers Service with presentation rehearsals and subsidies from the programme team for the travel expenses.”
“We would like to give the most sincere thanks to the College and those people who gave us a hand during the process.”
Yubo found the Challenge a great experience. “Advancing from the London final and becoming one of the global finalists in the competition was a fantastic experience for the four of us in terms of strengthening our CVs and expanding our professional networks.”
“While we didn’t bring home the global championship title, we still had a good time there enjoying the competition and beautiful scenery.”
“Next year the challenge will take place in the New York City and will continue to offer excellent cases on topical risk issues in the industry. I would recommend it to anyone who would like pursue a career in risk management.”