CUHK Department of Statistics Newsletter

CHENG, Ling Fong Fiona
BSc in Risk Management Science
BeeFintech Company Limited

I had my first internship in a company called BeeFintech Limited. It was originally a start-up in Hong Kong but now has more branches in mainland China, such as Shenzhen and Shanghai, with its headquarters in Beijing. BeeFintech is a technological company that aims to provide a whole-chain SaaS tool for the insurance industry in Hong Kong, including smartphone apps and PC software. The company serves mainly Hong Kong insurance agents and insurance companies.

My internship involved working as a data analyst in a team of three interns. We cooperated with the data management team and assisted them in their tasks to deliver comprehensive and effective product solutions to clients. We were required to be familiar with programming languages and database management. Our tasks involved logical thinking and data processing. We worked on our own projects as a team; hence, we learned everything on our own, which greatly improved our self-study ability and independence.

The internship was a valuable experience as it enhanced my risk management sense and skills in various aspects. Through the tasks assigned to me by my supervisors, I was able to fully utilise my knowledge and skills that were required for the relevant jobs I took on. In addition to my work, the company provided training once a week, and the trainings helped to increase my exposure to insurance and the importance of data quantification. Therefore, I learned many useful techniques and gained both soft and hard skills through the internship.

I was inspired to develop a deeper understanding of risk management, which ranges from buying insurance to team cooperation. Insurance is not limited to enterprises but also applies to individuals. Data monitoring enables better observation of our tasks, security control protects our privacy and team cooperation reduces errors and mistakes. These risk management methods are always useful in different fields, and I believe they are practical skills that will be helpful in my future career and life in minimising my exposure to risks and thereby reducing losses.

LAU, Chiu Tan
BSc in Risk Management Science
Chubb Life Insurance Company Ltd

It was my pleasure to intern at Chubb Life Insurance Company Ltd. (Chubb Life), the international life insurance division of Chubb. I worked as a full-time actuarial intern in the second half of 2020 in the Pricing Team of the Actuarial Department. The company provides various insurance types such as life protection, savings, accident, and health insurance options. Therefore, I had an opportunity to gain knowledge on these insurance types and to apply what I had learnt at university to the real world.

I was assigned several tasks including handling special quotations, resolving enquiries from customers and agents, assisting in UAT and preparing market comparison analysis. These tasks were mainly accomplished through Microsoft Excel and VBA. Although I lacked VBA programming experience, my mentor and colleagues were friendly and helpful. They taught me useful knowledge and skills. My academic background in R programming, which I learnt from Statistics courses, also provided me with an understanding of coding. Hence, I was able to perform my work smoothly.

Apart from building and editing VBA code to automate calculations, I also assisted in the error tracking process using Excel formulae. For example, when errors were found during UAT, I traced the Excel formulae to identify the steps in which the calculations went wrong. Some of the formulae were long, as the calculations were based on complex ideas. I initially spent much time on tracing and solving errors. However, as time passed and I gained experience, I was able to perform the tasks faster because of improved problem-solving and numerical analysis skills.

Interning at Chubb Life was a fruitful experience. It was a good opportunity to apply the knowledge acquired in RMSC major courses to the real world. I enjoyed the six-month internship, and I am grateful to the RMSC programme for equipping me with knowledge relevant to my future career.

CHAN, Kenneth
BSc in Quantative Finance and Risk Management Sciene
BNP Paribas

I joined BNP Paribas as an intern in the Automated Market Making Team, which provides liquidity to the equity derivatives market. I worked with a number of traders and strategists on various quantitative research projects. The training in the QFRM programme on statistics, computer programming and logical thinking enabled me to handle a steep learning curve and add value to the team. I believe that all of the QFRM students are well equipped to excel both academically and in the workplace.

LIU, Aaron
BSc in Quantative Finance and Risk Management Sciene
Goldman Sachs

This fall, I joined the Global Markets Division of Goldman Sachs as an off-cycle intern under the EQ PIPG Sales Team, which mainly distributes equity structured products to private bank clients. During my days at the desk, I assisted in pricing derivative products with exotic payoffs, summarised hedging and booking instructions, and participated in various types of ad hoc projects. The dynamic environment allowed me to work with talented people in different teams and learn new things every day. Over the 5 months here, the QFRM programme has enhanced my technical knowledge required to understand complex products and has equipped me with data analysis skills to analyse trade/quote data for revenue-generating insights and with the ability to learn fast under pressure.