Driven to make an impact

One would assume that growing up, SMU Professor of Finance Benedict Koh would have aspired to be a financier like the investment maverick Warren Buffet. Instead, he dreamt of doing good by being a medical professional. He still recalls the incident that sparked this aspiration: when visiting a clinic as a child, he witnessed another young boy suffering from appendicitis and in such severe pain till he was blue in the face. It had felt like a long wait before the child received medical attention, so that was when Professor Benedict believed that he should be a doctor in order to help those in need.

Fast-forward many years later, he is now the Associate Dean of Post-Graduate Programmes, as well as a member of the University Tribunal at the Singapore Management University (SMU) Lee Kong Chian School of Business (LKCSB). Although he did not end up in a medical career, as a finance professional now, Professor Benedict still help others by banking on numbers to change the status quo of a situation for the better.

Explains the professor: “My interest in mathematics paved my way into finance. Beyond mathematics, finance solves practical problems and that’s what really interests me. Using math, a skill that I like, to solve both short and long-term financial problems.”

Professor Benedict’s exposure to the finance industry began in his university days, and upon graduation, he spent a few years in corporate banking at Chase Manhattan Bank, before embarking on a career in academia. Since joining SMU in 2002, he has been teaching for more than 30 years.

Comparing his corporate career with his switch to academia, the Professor states his preference for the latter for two reasons – the freedom to research and write on topics that impact the masses, and the flexibility to manage his own schedule.

Plus, while he recognises that “there’s always something dynamic and exciting about the corporate world – meeting different people, doing deals, and handling the ever-changing problems of clients,” his ultimate goal has always been to impact a bigger pool of people, even if it is not directly related to money.”

As Associate Dean, Professor Benedict lists the three key aspects a well-designed curriculum should entail - rigor, relevance, and practicality. In this way, students will be well-equipped to take on today’s fast-evolving digital world with hard skills like financial theories and tools, as well as soft skills like public speaking and thinking on their feet.

For instance, in August this year, LKCSB will be teaming up with the SMU School of Information Systems to launch two new specialisations (Fintech and Data Analytics) for the MSc in Applied Finance, MSc in Quantitative Finance and MSc in Management programmes. While the collaboration equips students with both financial expertise and technical skills such as coding and programming, SMU’s well-established interactive pedagogy will ensure students pick up the relevant soft skills along the way. Upon completing these specialisations, students will receive a graduate certification from the SMU School of Information Systems..

In addition, Professor Benedict highlights the importance of gaining real-life work experience and advises students to learn from senior colleagues in the workplace. He adds “The challenge is to go into a workplace and make friends with senior colleagues who may see you as a competitor. How do you get somebody who feels threatened to guide you as a mentor, tell you war stories, and how to avoid mistakes? It’s something students often don’t think about.”

Another piece of advice he shares is for students to take the opportunity to socialise and build a strong network of contacts while still in school. He says: “Socialise by doing sports or joining societies. It’s important to spend time with friends and develop a network because, in finance, you need a lot of friends in the industry whether for closing deals or information sharing. You need good friends and school days is the best time for this.”