MASTER OF CENTRAL BANKING Nurturing talent for central banks Anella - - PowerPoint PPT Presentation

ASIA SCHOOL OF BUSINESS xxx

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MASTER OF CENTRAL BANKING

Nurturing talent for central banks

Anella Munro Asia School of Business

established in collaboration with MIT Sloan

Presentation at the 14th IFSB Summit, Jakarta, 12 November 2019

The content of this presentation is not for public sharing without the explicit permission of ASB. Data presented in this file is still subject of approval of multiple stakeholders.

Serving as a Talent Magnet & Talent Multiplier Providing an Asset and Resource for businesses & economic development Respecting BNM and MIT heritage of Excellence and Rigor

Building a World-Class Business School, in Malaysia, for the World established by Bank Negara Malaysia in collaboration with MIT Sloan to be a premier business school that develops transformative & principled leaders who will contribute to a better future and to the advancement of the emerging world.

The ASIA School of Business

A COLLABORATION OF EXCELLENCE

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Master of Central Banking

Starting June 2020 A leading-edge education for high-potential central bank staff from all parts of the world.

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12-month residential program, obsessively focused on central banking. Bringing together future leaders from diverse backgrounds A comprehensive and forward-looking curriculum Taught by world-class faculty, including 6 weeks at MIT Sloan.

What is the ASB Master of Central Banking?

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Why a Master of Central Banking?

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Why a Master of Central Banking?

“In a rapidly changing and highly challenging

environment, the demands on central banks are immense. Central bankers therefore need the capabilities to deliver the best possible policies and outcomes. Our program aims to contribute to building such capabilities.”

Tan Sri Dr Zeti Aziz Former Governor, Bank Negara Malaysia Co-Chair, MCB Advisory Board

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What sets us apart?

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A curriculum obsessively focused

• n Central Banking

Our curriculum is ambitious

Comprehensive Forward-looking Integrative Grounded

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**Subject to approval by the Ministry of Education, Malaysia/ Malaysian Qualifications Agency (MQA)

FOUNDATIONS MONETARY POLICY FINANCIAL STABILITY RESERVE MANAGEMENT

PAYMENT SYSTEMS

DIGITAL TECHNOLOGIES

GOVERNANCE, MANAGEMENT, ETHICS

EXTENDING THE MANDATES

CRISIS MANAGEMENT AND SIMULATION

Comprehensive means we will cover all the core functions and more

Term 1 Term 2 Term 3

Macro M policy M operations

Financial Institutions

Micro-pru Macro-pru Challenges Proseminar 1 Proseminar 2 Proseminar 3 Synthesis

Monetary policy Financial stability Systems thinking

Integrative means we will teach ideas multiple times, from different perspectives

• eg. Instead of decisions one step at a time, decide
• n optimal sequence of steps

Big Data and Interpretable AI

• Instead of macro scenarios for individual banks,

allow interaction of stress among banks

Digitalized macro stress tests

• First conference in January 2021
• New developments in central banking

Annual conference with BIS

It will be forward-looking to prepare our students for future challenges

• eg. study what just happened in US

money market

Monetary operations

• MIT-style action learning projects

Mens et Manus

• Practicing and former central bankers

leaders to speak

Best-practice seminars

Yet grounded in reality

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7-week visit to MIT, New York, Washington

• Six weeks immersion at MIT, in

Cambridge Massachusetts, taking courses from MIT Sloan faculty

• A visit to New York’s financial center
• A visit to international financial

institutions in Washington, DC

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The people behind the Master of Central Banking

ASIA SCHOOL OF BUSINESS xxx

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Negara’ n more about Asia School of Business’ Master of Central Banking,

, No. 2, Jalan Dato’ Onn, 50480 K

“W AS B ’ bu ildin g s u ch capabilitie s .”

“ O financial ASB’ .”

• Fast-changing financial systems
• Big Data and Machine L

ear

• Fostering digital transfor
• Asset pricing and risk management
• Extracting information from financial markets
• Negara’

n more about Asia School of Business’ Master of Central Banking,

, No. 2, Jalan Dato’ Onn, 50480 K

“W AS B ’ bu ildin g s u ch capabilitie s .”

“ O financial ASB’ .”

• Fast-changing financial systems
• Big Data and Machine L

ear

• Fostering digital transfor
• Asset pricing and risk management
• Extracting information from financial markets
• Dr. Zeti Aziz

Co-Chair Former Governor, Bank Negara Malaysia Roberto C. Merton Co-Chair School of Management Distinguished Professor of Finance, MIT Nobel Memorial Prize in Economic Sciences

An exceptional advisory board who know central banking and education

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An exceptional advisory board who know central banking and education. 9 former central bank governors from 4 continents

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MIT’s involvement is deep

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The ASB resident faculty bring world-class training and know central banking

Eli Remolona PhD Stanford, USA Professor of Finance and Director of Central Banking; Philippines Gabriele Ciminelli PhD Tinbergen Ins., Netherland

• Asst. Professor of Finance

and Economics; Italy Triwit Ariyathugun PhD Candidate Univ. of Chicago, USA Postdoctoral Associate of Economics; Thailand Abigail Tay PhD Stanford, USA

• Asst. Professor of Economics

& Faculty Chair; Singapore Anella Munro DPhil Economics, Oxford. Professor of Economics; New Zealand Charles Fine PhD Stanford, USA. Chrysler LGO Professor of Management, MIT Sloan School President and Dean ASB USA Hans Genberg PhD Univ. of Chicago, USA Professor of Economics and Associate Director of Central Banking; Sweden

Students will play a big part by sharing a diversity of experiences

Asia Advanced economies Small open economies

Banking

Emerging markets

U.S.

Poets

Quants

Latin America Africa

Middle East

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Who is the Master of Central Banking for?

The program is designed for high potential central bank staff from all parts of the world. The MCB will equip the participant with an integrated and forward-looking understanding

• f all aspects of Central

Banking, and a global network. Apply now for the June 2020 intake.

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The new state-of-the-art campus

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Academic building

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Residential buildings

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Applications are now open for the June 2020 intake

https://apply.asb.edu.my/apply/ https://asb.edu.my/academic-program/master-of-central-banking

THANK YOU

ASIA SCHOOL OF BUSINESS xxx

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Asia School of Business (1075414-U), Sasana Kijang, 2, Jalan Dato Onn, 50480 Kuala Lumpur, Malaysia DIRECT: +603 9179 4110 | EMAIL: info@asb.edu.my | URL: www.asb.edu.my

Appendix: The curriculum as it stands

Systems thinking

• Challenges of

central banks

• Pro-seminar
• Synthesis & crises
• Capstone

project Monetary policy

• Macroeconomics

& growth

• Principles of

monetary policy

• Monetary policy
• perations &

communication

• Advanced topics

Financial stability

• Financial

institutions

• Micro-prudential

supervision

• Macro-

prudential policy

• International

cooperation

• Cybersecurity

Appendix: The curriculum as it stands (continued)

Financial markets

• Asset pricing and

investments

• Behavioral finance
• Reserve

management

• Developing

financial markets

• Financial inclusion

Data and digital technology

• Research methods
• Big Data and

Machine Learning

• Payments, digital

currencies and AML/CFT

• Time series

methods

• Panel data

methods

Governance and leadership

• Strategy and
• rganizations
• Ethics
• Political economy
• f central banks
• Central bank

governance

• Communication
• Negotiation