On November 2, at the National Economics University, the School of Technology coordinated with the Faculty of Economic Mathematics to organize a scientific seminar with the topic "Quantitative risk management in the 4.0 era: Innovation and application".

The program attracted the participation of more than 60 experts and researchers in the field of risk management from state management agencies, commercial banks, insurance companies and universities, along with the participation of students and trainees in Actuarial and Risk Management at the Faculty of Economic Mathematics.

Speaking at the opening of the seminar, Associate Professor, Dr. Bui Huy Nhuong, Vice President of the National Economics University, emphasized: “Quantitative risk management is an important field that has been developing strongly in Vietnam. The school is committed to creating the best conditions to develop research and practice capacity for learners in this field, in order to meet the growing needs of society and the digital economy.”

Quantitative risk management is a rapidly growing field that uses mathematical methods and quantitative models to identify, assess, and analyze risks. It is an essential tool for organizations to prevent and minimize potential negative impacts. When organizations implement effective risk management, they not only protect their profits but also maintain stability, thereby enhancing their competitiveness in the market.

Seminar scene.

As big data continues to grow, quantitative risk management methods are constantly improving with greater accuracy and efficiency. These advances help businesses and financial institutions improve their ability to forecast and respond to complex market fluctuations, thereby increasing their resilience in crisis situations.

Quantitative risk management has a wide range of applications in many fields, especially finance and insurance. Organizations such as banks, insurance companies and investment funds all need to use quantitative methods to manage various types of risks, including credit risk, market risk, liquidity risk and operational risk.

These methods also help organizations assess their resilience in crisis situations, ensuring they can meet stringent regulatory standards and protect assets against unexpected fluctuations.

Presenting an overview of the risk management system at Vietnamese commercial banks, Ms. Nguyen Thi Thuy Linh, Senior Expert of Legal and Risk Management at Lien Viet Post Joint Stock Commercial Bank, stated that the construction and development of risk management systems is helping Vietnamese banks to increasingly improve, strengthening the trust of customers and management agencies.

Ms. Nguyen Thi Thuy Linh shared about modern risk management trends with the integration of many technologies such as AI and cultural and social factors.

Ms. Linh also shared about the orientation of applying artificial intelligence (AI) to risk assessment systems, building a sustainable risk management culture, as well as integrating environmental, social and governance factors to create a positive and trustworthy banking image.

Sharing about the process of applying quantitative risk models in commercial banks in Vietnam, Mr. Vuong Minh Giang, Head of Risk Management Models and Tools Department at Vietcombank, emphasized that since 2014, the State Bank has directed banks to apply international standards on capital safety Basel II, and many organizations have completed the construction of Basel II risk management models, A-IRB. This not only ensures safety in the operations of banks but also enhances competitiveness in the international market.

The seminar “Quantitative risk management in the 4.0 era: Innovation and application” was organized to consult with experts and at the same time provide an opportunity for students and graduate students to learn more about training in this field.

In particular, the seminar is a valuable opportunity for students of the University of Technology in general and students of the majors of Economic Mathematics, Insurance Valuation & Risk Management (Actuary) at the Faculty of Economic Mathematics in particular to have a deeper access to the field of Quantitative Risk Management, a field that requires mathematical skills, data analysis ability and in-depth financial and economic knowledge.

At the same time, this is also an opportunity to help the Quantitative Risk Management industry receive appropriate evaluation, becoming an essential part to help businesses and organizations develop sustainably in the digital age.