The financial crisis we have so often spoken about in recent years clearly demonstrates the need for comprehensive and methodological knowledge in the banking and insurance sector. Today’s capital market is dominated by complex financial instruments, changing the approach to risk management and asset liability management taken by banks and insurance companies as it is no longer the case that profits can be generated with secure government bonds. Similarly, modelling and data analysis need to be supplemented by legal considerations, such as analysing the conformity of existing Islamic financial products with the Austrian legal framework.
In future a further important component of R&D activities at the Institute of Banking and Insurance Industry will be greater student involvement in publications and presentations at conferences.