Dr. WONG Chak Sham Michael (王澤森)

Visiting address
LAU-9-243
Phone: +852 34427248

Author IDs

Biography

Dr. Michael C S Wong is an Associate Professor of Finance at City University of Hong Kong and an expert in Asia on bank risk management under the Basel II/III framework. He architected the first Basel-standard internal ratings-based (IRB) system in Hong Kong and advised many Asian banks on building IRB models. After the collapse of Lehman Brothers in 2008, he re-engineered wealth management due diligence models for some banks in Hong Kong, including investor profiling models and investment product risk rating models. These models are currently implemented by more than 20 financial institutions. Dr. Wong reviewed risk control and stress testing models for banking institutions in Asia, submitted independent risk assessment reports to company boards and regulators, and provided expert witness on legal disputes involving complex financial transactions. He served as a founding member of Global Association of Risk Professionals’ FRM Committee, an examiner of professional examinations organized respectively by HKSI and HKIB, a member of the Advisory Board of China Bond Rating in Beijing,  a non-executive director of Bank of Communications Trustee, the founder of CT Risk Solutions, the Chairman of CTRISKS Rating, and a member of Market Misconduct Tribunal. He graduated from the Chinese University of Hong Kong, the University of Essex and the University of Cambridge, and has published more than 40 academic journal articles, 10 book chapters and 5 professional books. His articles have appeared in leading journals, including MIS Quarterly, the Journal of the Operational Research Society, the Journal of Futures Markets, the Journal of Forecasting, Omega, and Emerging Markets Finance and Trade.

Qualifications/Experiences

Certificate - Fintech (Massachusetts Institute of Technology) 
Executive Program - Venture Capital (University of California, Berkeley) 
PhD - Finance (The Chinese University of Hong Kong) 
MA - Social Science Data Analysis (University of Essex) 
MPhil - Finance (University of Cambridge) 
BS - Liberal Arts (University of the State of New York - Regents College) 

Teaching

Courses (past 5 academic years)

Academic Year

Level

Title

2016-2017

Bachelor's Degree

Asia-Pacific Capital Markets and Standards of Practice

2015-2016

Bachelor's Degree

Asia-Pacific Capital Markets and Standards of Practice

 

Postgraduate Degree

Corporate Finance

 

 

Independent Project

2014-2015

Bachelor's Degree

Asia-Pacific Capital Markets and Standards of Practice

 

Postgraduate Degree

Corporate Finance

2013-2014

Bachelor's Degree

Asia-Pacific Capital Markets and Standards of Practice

 

 

Security Analysis and Portfolio Management

 

Postgraduate Degree

Investments

2012-2013

Bachelor's Degree

Security Analysis and Portfolio Management

 

Postgraduate Degree

Investments

Prizes/Honours

  • Awarded the 8th among 52 teams (served as the team adviser of 6 postgraduate students) - Rotman International Trading Competition (2014) at University of Toronto
  • Certificate of Achievement (with Floyd Newsum) - FinCapDev Competition (2013) in San Francisco
  • Teaching Excellence Award - City University of Hong Kong
  • Young Scholar Dissertation Award - Chinese University of Hong Kong
  • Fellowship of Cambridge Commonwealth Trust - University of Cambridge
  • ECPR Scholarship for Essex Summer School in Social Science Data Analysis -  University of Essex

Activities

Participating in or organising a conference / an event

Conference Papers

  • Phouphet Kyophilavong and Michael C S Wong (2016), "Impacts of Trade Liberalization and China FDI on Laos: Evidence from the CGE model", The 8th CEA (Europe) and 27th CEA (UK) Annual Conference, Duisburg, Germany.

Talk or presentation

  • Michael C S Wong (2017), "Blockchain: Is it the future of banking?", Invited Talk, Global Internet Finance Summit, Center on Global Internet Finance, City University of Hong Kong, Hong Kong.
  • Phouphet Kyophilavong and Michael C S Wong (2016), "The Use of Renminbi in ASEAN Countries: Facts and Trends", Invited Talk, China-ASEAN Financial Forum 2016, China-ASEAN Research Institute, Guangxi University, Nanning, China.
  • Michael C S Wong (2016), "Human Resources Development for Banking and Finance: The case of MSc programs for Hong Kong bankers and regulators in 1992-2008", Invited Presentation, International Conference in Celebration of 20th Anniversary of the Establishment of National University of Laos, Vientiane, Laos.
  • Michael C S Wong (2016), "Bank Asset and Liability Management: A Shift after the Financial Crisis in 2008", Invited Presentation, Banking Institute, Bank of the Lao PDR, Vientiane, Laos.
  • Michael C S Wong (2016), "Quantitative Investment Research", Invited Talk, Faculty of Economics and Business Management, National University of Laos, Vientiane, Laos.
  • Michael C S Wong (2016), "Hong Kong: A Global Banking and Financial Center", Invited Talk, Faculty of Economics and Business Management, National University of Laos, Vientiane.
  • Michael C S Wong (2016), "Research Methodologies for Economics and Business Studies:From Topic Selection to Research Findings", Invited Talk, Faculty of Economics and Business Management, National University of Laos, Vientiane.
  • Wong, Michael C S (2016), "Regulatory and Legal Issues of Algo Trading", Keynote Speech, International Summit of Smart Finance, Center on Global Internet Finance, Shenzhen Research Institute, City University of Hong Kong, Shenzhen, China.
  • Wong, Michael C S (2016), "Blockchain unchained:Should we bank on it?", Panel Discussant. DBSxCal Talk. Organized by CityU Apps Lab. Sponsored by DBS.
  • Wong, Michael C S (2016), "Digital, FinTech, Bank: What does the future look like?", Panel Discussant. DBSxCal Talk. Organized by CityU Apps Lab. Sponsored by DBS.
  • Wong, Michael C S (2015), "Financial Risk Management and Banking Regulation of Basel III", Invited talk, Department of Economics and Finance, Hong Kong Shue Yan University, Hong Kong.
  • Michael C S Wong (2015), "Algo Trading: From Ideas to Models", Invited talk, Algo Trading Enhancement Workshop, Financial Computing Lab of CityU College of Business and CASH Quant Finance Lab, Hong Kong.
  • Michael C S Wong (2015), "Risk Management of Algo Trading: Issues and Methods", Invited talk, Algo Trading Enhancement Program, Financial Computing Lab of CityU College of Business and CASH Quant Finance Lab, Hong Kong.
  • Cenev, Jovan, Antoni Chan, Humphrey Tung and Michael C S Wong (2015), "System and Methods for Optimization of Stochastic Portfolio Mixtures", US Patent Provisionally Filed (Application Number: 62135055), USA.
  • Michael C S Wong (2014), "China: Is what we see what we get? (The prospects of China securities)", Invited Seminar, CFA Society of UK, London.
  • Michael C S Wong (2014), "Insight into Corporate Credit Risk: The Myths in China", Invited Talk, Industry Insights Speaker Series, ICMA Center, Universty of Reading, Reading, UK.
  • Rajan Singenellore, Moorad Choudhry and Michael C S Wong, (2014), "Emerging Market Banking- India and China - Challenges and Performance", Global Webcast, Presented by Bloomberg and organized by Global Association of Risk Professionals.
  • Wong, Michael C S (2014), "Analyzing Corporate Credit Risk: The Myths in China", Invited talk, Department of Economics in collaborations with Business School, Central European University, Budapest, Hungary.
  • Michael C S Wong (2014), "Chinese Rebalancing: Are China banks posing risk to European financial institutions? Implications for investment and counterparty risk management", Invited Talk, London Chapter Meeting, Professional Risk Managers International Association, London, UK.
  • Michael C S Wong (2014), "The Myths in China:Risk and Stability", Invited Talk, Financial Industry Series, University College London, London, UK.
  • Michael C S Wong (2014), "Analyzing Corporate Credit Risk: The Myths in China", Invited Talk, UK Chapter Meeting, Global Association of Risk Professionals, London, UK.
  • Michael C S Wong (2014), "Fair Value Accounting: Issues on Non-tradable financial assets (invited talk)", Invited Seminar for Senior Accountants, Hong Kong Institute of CPA.
  • Michael C S Wong (2014), "Economic benefits of e-payment on business operations and cash flow management (invited talk)", Seminar on E-Payment: How to improve Hong Kong economy?, Hong Kong Economic Journal, Hong Kong.
  • Michael C S Wong (2014), "Collective Financing for SMEs", Invited Talk, Brand Equity Seminar Series (supported by SME Development Fund), Hong Kong Polytechnic University, Hong Kong.
  • Michael C S Wong (2013), "Manpower Development for Quantitative Investment", Invited Panelist, China Quantitative Investment International Summit, Shenzhen, China.
  • Michael C S Wong (2013), "Wealth Management and Private Banking: Challenges of Hong Kong and Ways Forward", Invited Moderator, Seminar Series on Emerging Trends, Executive Education Unit, College of Business, City University of Hong Kong.
  • Michael C S Wong (2013), "Credit Management and Business Strategies", Invited Talk, D&B Seminar, Dun and Bradstreet, Hong Kong.
  • Michael C S Wong (2013), "Financing and Cash Flow Strategies for SMEs", Invited Talk, Hong Kong Management Association, Hong Kong.
  • Michael C S Wong (2013), "Sovereign and Systemic Risk Analysis for Reserve Management", Invited Talk, Bank of Thailand, Bangkok, Thailand.
  • Michael C S Wong (2013), "Basel III and its Impacts on Banking Industry", Invited Talk, TS Symposium on 'Advances in Bank Balance Sheet Management in Commercial Banks under New Regulatory Environments', Kasikorn Bank, Bangkok, Thailand.
  • Michael C S Wong (2013), "Measuring the Fair Value of Non-tradable Financial Assets: Issues and Examples", Invited Talk, Executive Seminar, Hong Kong Institute of Certified Public Accountants, Hong Kong.
  • Michael C S Wong (2013), "Hong Kong as an Offshore Currency Center", Invited Talk, MBA Program - Hong Kong Field Trip, Shanghai University, Hong Kong.
  • Michael C S Wong (2013), "Managing Costs and Risks in Liquidity and Treasury Operations", Invited Talk, Asian Banker Summit, Jakarta, Indonesia.
  • Michael C S Wong (2013), "Managing Soveriegn Risk Exposures: Issues and Challenges", Invited Talk, Singapore Chapter, Professional Risk Managers International Association (PRMIA), Singapore.
  • Michael C S Wong (2013), "Internationalization of Renminbi: Product Innovation in Taiwan and Hong Kong", Invited Talk, SinoPac Forum, China Taipei.
  • Michael C S Wong (2012), "New Generation of Credit Ratings: Implementation and Validation", Invited Talk, Executive Seminar, Hong Kong Securities and Investment Institute.
  • Michael C S Wong (2012), "Effectively Manifest Your Creditworthiness to Banks and Business Partners amidst Economic Difficulties", Invited Talk, Hong Kong General Chamber of Commerce, Hong Kong.
  • Michael C S Wong (2012), "Corporate Liquidity and Bank Lending after Basel III", Invited Talk, Hong Kong Institute of Certified Public Accountants, Hong Kong.
  • Michael C S Wong (2012), "Corporate Funding and Bank Lending after Basel III", Invited Talk, Executive Seminar, Hong Kong Chinese Society of Accountants and Auditors, Hong Kong.
  • Michael C S Wong (2012), "Valuation of Bank Stocks after Basel III", Invited Talk, Luncheon Seminar, Hong Kong Society of Financial Analysts, Hong Kong.
  • Michael C S Wong (2011), "Basel III and Its Impacts on the Banking Industry", Invited Talk, Executive Seminar of Hong Kong Securities Institute, Hong Kong.
  • Michael C S Wong (2011), "SFC’s Protection to Investors after Lehman Brothers’ Minibonds: How Effective is it?", Invited Talk, Finance Professional Seminar of HKU SPACE, Hong Kong.
  • Michael C S Wong (2011), "Operationalize Data Quality for Compliance and Risk Management Initiatives", Invited Talk, Trading Data Asia 2011, Hong Kong.
  • Michael C S Wong (2011), "Risk Analysis: Can it be outsourced? The Latest Regulatory Requirements on Model Risk Management and the Use of Vendor Models", Invited Talk, Luncheon Meeting, Institute of Operational Risk (Asia Chapter), Hong Kong.
  • Michael C S Wong and Peter T Treadway (2011), "Sovereign Debt Risk Analysis", Invited Talk, Executive Workshop on Sovereign Risk Management, Marcus Evans, Hong Kong.
  • Michael C S Wong (2011), "Basel III: The Latest Implications on Risk Management Practices", Invited Talk, Taiwan Academy of Banking and Finance, Taipei, Taiwan.
  • Michael C S Wong (2010), "What Mid-Term Economic Outlook can CFOs expect in Hong Kong, China and the rest of Asia?", Invited Keynote Panel Discussion, CFO Innovation Asia Forum, Hong Kong.
  • Michael C S Wong (2010), "Stress Testing for Financial Institutions", Invited Talk, Executive workshop on Stress Testing, Marcus Evans, Hong Kong.
  • Michael C S Wong (2010), "Stress Testing for Financial Institutions", Invited Talk, Executive workshop on Stress Testing, Marcus Evans, Singapore.
  • Michael C S Wong (2010), "Risk Appetite: How Hungry Are You?", Invited Talk, Executive Breakfast Seminar on Operational Risk Management. Organized by EuroEvents, Hong Kong.
  • Michael C S Wong (2010), "Market Data and Post Trade Management", Invited panel discussion, Sungard City Day, Hong Kong.
  • Michael C S Wong (2010), "Risk Management and Corporate Value Creation", Invited Talk, EMBA Program, Sun Yat-sen University, Guangzhou, China.
  • Michael C S Wong (2010), "Challenges of Implementing IRB System: the Hong Kong Experiences", Invited Talk, Executive Workshop for China Banking Regulation Commission (CBRC), Hong Kong Monetary Authority, Hong Kong.
  • Michael C S Wong (2010), "Investment Services Due Diligence", Invited Talk, Executive Seminar, Hong Kong Securities Institute, Hong Kong.
  • Michael C S Wong (2010), "Investment Services Due Diligence: The Hong Kong Experience", Invited Talk, Professional Risk Managers International Association (Beijing Chapter), Beijing.
  • Michael C S Wong (2010), "Investment Services Due Diligence: The Hong Kong Experience", Invited Talk, Chapter Meeting of Professional Risk Managers International Association (Shanghai Chapter), Shanghai.
  • Michael C S Wong (2010), "The Risk of Investment Products: Lessons from the Lehman Collapse", Invited Talk, Seminar for MBA Alumni and Students, Shanghai University, Shanghai.
  • Michael C S Wong (2010), "The Risk of Investment Products: Correlation among Credit Risk, Market Risk and Liquidity Risk", Lunchtime Event, Professional Risk Managers International Association (Singapore Chapter), Singapore.
  • Michael C S Wong (2010), "Due Diligence in the Wealth Management Business: The Hong Kong Experience", Invited Talk, Global Association of Risk Professionals (Malaysia Chapter), Kuala Lumpur.
  • Michael C S Wong (2009), "Risk Management and Corporate Value Creation", Invited Talk, Hong Kong Institute of Financial Planners, Hong Kong.
  • Michael C S Wong (2009), "Enterprise Risk Management", Invited Talk, GDW Executive Program. Co-organized by Indian Institute of Management and City University of Hong Kong, Shenzhen.
  • Michael C S Wong (2009), "Stress Testing and Risk Management", Invited Talk, Executive Seminar, Hong Kong Securities Institute, Hong Kong.
  • Michael C S Wong (2009), "How Does Risk Management Enhance Company Value?", Invited Talk, IBM Real Estate Seminar, Hong Kong.
  • Michael C S Wong (2009), "Stress Testing for Financial Institutions", Professional workshop organized by Lexis Nexis, Kuala Lumpur.
  • Michael C S Wong (2009), "Credit Risk Management: New Challenges of Banks in Hong Kong and Mainland China", Invited Talk, Luncheon Seminar, Hong Kong Society of Financial Analysts, Hong Kong.
  • Michael C S Wong (2009), "Basel II Implementation: The Issues in Mainland China", Invited Talk, Risk Management Conference, Fudan University and China Digital, Shanghai.
  • Michael C S Wong (2008), "Market Risk Management in Practices", Invited Talk, Executive Workshop, Hong Kong Securities Institute, Hong Kong.
  • Michael C S Wong (2008), "Reputational Risk Management: Lessons from the Lehman Products in Hong Kong", Invited Talk, EMBA Seminar, City University of Hong Kong for ICBC and Invesco executives, Hong Kong.
  • Michael C S Wong (2008), "Credit Rating and Credit Insurance", Invited Talk, Seminar organized by Confederation of Insurance Brokers, Hong Kong.
  • Michael C S Wong (2008), "Will Basel II Make the Banking Sector More Vulnerable in Economic Downturns?", Invited Talk, Treasury Markets Association, Hong Kong.
  • Michael C S Wong (2008), "Validating, Testing and Monitoring an Internal Rating Model", Invited Talk, GARP’s 5th Asia Pacific Convention, Hong Kong.
  • Michael C S Wong (2008), "The Global Banking Crisis", Invited Talk, Executive Program of Faculty of Business and Economics of University of Hong Kong, Hong Kong.
  • Michael C S Wong (2008), "The Impacts of Basel II on Bank Lending Practices: Implications for Large Corporations and SMEs", Invited Talk, Association of International Accountants, Hong Kong.
  • Michael C S Wong (2008), "Economic Capital Allocation", Invited Talk, Asia Risk Workshop on Successful Management and Implementation of Economic Capital, Hong Kong.
  • Michael C S Wong (2007), "Capital Budgeting after Basel II", Invited Talk, GARP Asia Pacific Convention organized by Global Association of Risk Professionals, Hong Kong.
  • Michael C S Wong (2007), "Choosing the Discount Factor for Estimating Economic LGD", Invited Talk, Asia Risk Workshop on Estimating LGD and Measuring Recovery Rates, Hong Kong.
  • Michael C S Wong (2007), "Implementation of IRB Systems: Issues and Experiences in Hong Kong", Invited talk, Global Association of Risk Professionals (Beijing Chapter), Beijing.
  • Wong, Michael C S (November 2006), "Risk Management for Nonprofit and Public Organizations", Invited Talk, Training Programme on Education Cost and Financing for Ministry of Education of Sri Lanka, CityU Professional Services of City University of Hong Kong, Hong Kong.
  • Wong, Michael C S (October 2006), "Effective Modeling Techniques for Retail Credits", Invited Talk, Global Association of Risk Professional (GARP) Asia Pacific Convention, Organized by GARP, Hong Kong.
  • Wong, Michael C S (June 2006), "From Risk Measurement to Risk Management", Invited Talk, SAS Forum 2006, Hong Kong.
  • Wong, Michael C S (October 2005), "PD & LGD Estimation for Retail Credit Portfolios: Some issues in Hong Kong", Invited Talk, GARP Asia Pacific Convention, Global Association of Risk Professionals, Hong Kong.
  • Wong, Michael C S (October 2005), "Basel II Implementation: Cases in Hong Kong", Invited Talk, Basel II Forum (2007 and Beyond), organized by Key Media, Hong Kong.
  • Wong, Michael C S (10-11 May 2005), "Basel II: Implications and Challenges", Invited Talk, IT Governance 2005 Conference in Malaysia, Organized by The Information Systems Audit and Control Association (Malaysia) and Malaysian National Computer Confederation, Subang Jaya, Malaysia.
  • Wong, Michael C S (November 2004), "Overview of Basel II: Challenges and Opportunities for Asian Banks", Invited Talk, KDU Management Development Centre at Kuala Lumpur and Penang, Malaysia.
  • Wong, Michael C S (June 2004), "Basel II Implementation in Asia", Invited Talk, Global webcast of BetterManagement.Com.

Press/Media

Editorials for Newspapers / Magazines

  • Michael C S Wong (2016), "Vientiane as an international banking center: Is it possible?", Vientiane Times, December 15, 2016, Vientiane, Laos.