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Bank Simulation Workshop for the UCT 2021 MCom Finance & Risk Students by Riskworx Academy
The Riskworx Academy recently presented a 4 day bank simulation workshop for the UCT (university of Cape Town) 2021 MCom Finance & Risk students, at their campus. The workshop, sponsored by the African Institute of Financial Markets and Risk Management (AIFMRM), saw 5 teams of 4 students compete against each other to run their own bank. The simulator was set up so that the economic environment reflected the realities of the Covid crisis and its effect on a commercial & retail bank’s Balance Sheet & Income Statement. The bank simulation workshop also marked the first time that the students met each other face-to-face, as their whole academic syllabus was presented online.
The purpose of the workshop was to cement the theory that the students covered in their MCom syllabus and in the words of Obeid Mohamed, their senior lecturer and facilitator during the week, “this was the perfect finishing school for the degree.”
“… this was the perfect finishing school for the degree.”
Feedback from students who participated in the bank simulation workshop was overwhelmingly positive and the competitive juices were flowing as the different teams tried to outwit each other, steal market share and grow their Balance sheet within the Basel 3 and the Central Bank’s regulatory constraints. Comments from one of the students reflect their experience: “This week was immensely valuable – it was fun but at the same time I learnt a lot, for instance to see in practise how regulatory rules impact one’s decision making”.
Image sourced from: wikipedia.org/wiki/University_of_Cape_Town_F.C. on 14.10.2021