Banking Industry and Academia Connection
When I try to find a risk management study on banking industry, I found that the study on it is very limited. There are some study by Faisst and Prokein (2005) on An optimization model for the management of security risks in banking companies, which full of mathematics calculation. A study by Zupanovic (2014) on Journal of Central Banking Theory and Practice about Sustainable Risk Management in the Banking Sector. One of the most cited is on Systemic risk: the dynamics of model banking systems (May and Arinaminpathy, 2010). Study on project management in banking industry also similar. A study on Integration and governance of multiple project management offices (PMOs) at large organizations by Muller and Tsaturyan (2015) is some of limited study on project management.
In comparison if I try to find a study about piezoelectricy or even about methodology e.g scenario modelling, I will find a number of study that has bigger amount compare with research on practical industry. My question, do we need to connect industry and academia, if yes in what sense?
- Study on practice of risk management in banking industry (how to implement)
I would say that a number of study on practice and implementation is bigger on consultant/industry. A consultant might perform a 4-6 project implementation in one year, which is bigger than what academia can do.
- Study on review on what is the best implementation, from independent stand point.
I would say academia has better advice on this matter.
- Study on ethics, independent.
“Academic study testing bankers’ reports of coin tosses to gain winnings revealed cheating not found in tests of other sectors”, as reported by Guardian. Banking industry culture promotes dishonesty.
So what is a thing that industry can learn from academia? is on the systematic thinking and independency. A new perspective will help.