City of London Lord Mayor visits Scottish Financial Risk Academy

Pincipal, Professor Steve Chapman with Alderman Michael Bear, the Lord Mayor of the City of London, Sheriff Fiona Woolf, and Professor Alex McNeill

The City of London Lord Mayor has visited the Scottish Financial Risk Academy at Heriot-Watt University.

Alderman Michael Bear joined guests at Heriot-Watt University to hear about Scotland's approach to financial risk education from Professor Alexander McNeil of the Scottish Financial Risk Academy (SFRA), as part of a drive to develop better relations between the City of London and City of Edinburgh.

Heriot-Watt University is a world-class institution with an excellent reputation in actuarial science, finance and mathematics. The new Scottish Financial Risk Academy is making a vital contribution to financial services education across Scotland

Alderman Michael Bear, The City of London Lord Mayor

From an idea initially developed at the Maxwell Institute for Mathematical Sciences, the SFRA is a unique Scottish collaboration between financial services companies and academia. Professor McNeil explained that the SFRA's model of industry and academic interaction has benefits to the UK's financial services sector particularly in the field of financial risk.

He said; "SFRA's aim is to improve the understanding of financial risk, and this collaborative venture draws on the collective strengths of Scottish universities in financial services education. We offer a single focus for knowledge exchange on financial risk, which is a great asset to Scotland and the UK.

"We are equally proud of our role in expanding financial education provision for our students, the leaders of tomorrow, and in serving the financial industry's demand for bright, well-trained staff, particularly in the risk-related roles for which there are skills shortages."

The Lord Mayor spoke of his aim to promote a better understanding of the City of London and that his role, in this current economic climate, is to protect the City's reputation and to create jobs.

He said, "I am delighted to be visiting Scotland, particularly in such interesting political times after a successful result for the SNP in last week's election. Our industry looks forward to continuing to work with the Scottish Government and contributing to the debate on key issues over the coming months and years.

SFRA's aim is to improve the understanding of financial risk...We offer a single focus for knowledge exchange on financial risk, which is a great asset to Scotland and the UK

Professor Alexander McNeil, Scottish Financial Risk Academy

"Heriot-Watt University is a world-class institution with an excellent reputation in actuarial science, finance and mathematics. The new Scottish Financial Risk Academy is making a vital contribution to financial services education across Scotland and we look forward to working together closely in future."

Also present at the event were the City of London's Sheriff Fiona Woolf and Alderman Roger Gifford, Chair of the Association of Foreign Banks; representatives of a number of SFRA's founder members, Aberdeen Asset Management, Barrie and Hibbert, Lloyds Banking Group, University of Edinburgh, and Scottish Financial Enterprise; SFRA Steering Group members; Heriot-Watt Principal, Professor Steve Chapman, Senior Deputy Principal Professor Andy Walker, Professor Angus MacDonald of MACS and International Director Ruth Moir.