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First credit risk management course in HK to be launched

Adrian M. Reodique | March 17, 2016
The training programme offers 16 credit risk and consumer lending management courses which span from basic concepts to advanced data analytics and enterprise risk management.

TransUnion-a credit information provider-announced on Wednesday (16 March 2016) its partnership with Executive Development Centre of Hang Seng Management College to launch the first credit risk management course in Hong Kong.

The course aims to enhance the skills of industry practitioners in managing and mitigating credit risks, as well as in detecting fraud and making better credit decisions. It offers 16 credit risk and consumer lending management courses which span from basic concepts to advanced data analytics and enterprise risk management.

"We see the task of raising risk management standards within the Hong Kong banking industry and the general public as crucial. Credit risk is rising, as revealed by an increasing credit card delinquency ratio and household debt to GDP ratio in Hong Kong and many parts of the world. The growing popularity of e-finance and borrowing from non-traditional money lenders has also exposed the banking industry and consumers to more ID theft and fraud risks," said Lawrence Tsong, President of Asia Pacific at TransUnion.

"We have already launched similar training programmes in the Asia Pacific, and received positive response from local banking and credit bureau professionals. We are glad to introduce this programme in Hong Kong and to partner with a leading educational institution like Hang Seng Management College to offer the first course to Chong Hing Bank. Through the programme, we hope to further enhance Hong Kong's position as an international financial centre," added Tsong.

The first participants of the programme consist of over 30 mid to senior-level employees from Chong Hing Bank. The three-day course will be conducted by lecturers from Hang Seng Management College and experts from TransUnion.

"Offering credit to individuals is one of the major businesses of a commercial bank, while credit risk of personal customers is a major risk a financial institution needs to manage nowadays.  This Credit Risk Management course is able to provide a comprehensive understanding of latest market practice in consumer credit process and equip the participants with professional knowledge," said Frederick Yip, General Manager and Head of Credit Risk Management Division at Chong Hing Bank.

Later this year, Tsong said TransUnion will also partner with selected non-government organisations (NGOs) or public bodies to launch basic training courses to the general public and educate the consumers regarding credit risk management and credit reporting and scoring. 

 

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