NWU researchers receive prestigious international award

Kiewiet Scheppel -- Thu, 06/30/2016 - 16:19

NWU researchers receive prestigious international award

Four researchers of the North-West University’s (NWU’s) Centre for Business Mathematics (BMI) recently received a prestigious award in London.

The research publication of the four South Africans won the 2016 Paper of the Year award from the academic journal, Journal of Operational Risk.
The recipients are Profs Riaan de Jongh, director of the Centre for BMI, Tertius de Wet, extraordinary professor at the centre, Kevin Panman, PhD student at the centre, and Prof Helgard Raubenheimer, associate professor at BMI. De Jongh and De Wet are also joint supervisors  of Panman’s doctoral study. He receives his PhD in September.
The criterion for the award is for an article with an innovative approach to operational risk management through mathematical and/or statistical analysis that was published previously. The editorial staff of the journal judges the articles annually and selects the most outstanding contribution to the journal for the award.
The title of the article is A simulation comparison of quantile approximation techniques for compound distributions popular in operational risk.
On behalf of the authors, De Jongh acknowledged Absa, SAS and the Department of Science and Technology for their support.
This prestigious event was hosted by the Risk magazine  at the Victoria Plaza in London earlier this month. Risk covers global news and analyses regarding the financial services industry, with a particular focus on risk management, derivatives  and complex finance. The magazine also runs industry-specific events, including these annual Risk awards.
In 2003 the group also launched the website, Risk.net, which provides the most recent news in the global financial services industry on financial risk management in particular.
The winners of the recent awards will be featured in a special supplement to the next issue of the Journal of Operational Risk and on Risk.net.

On the left are Kevin Panman (PhD student of the Centre for Business Mathematics), who currently works for Standard Bank, and Prof Helgard Raubenheimer (associate professor at the Centre for BMI) with their award during the event in London.

Prof Riaan de Jongh, director of the Centre for Business Mathematics.

Prof Tertius de Wet, extraordinary professor at the Centre for Business Mathematics.