FRONT COVER
Inaugural Citi-SMU Symposium on Financial Literacy for Young Adults
Building Inclusivity in Financial Literacy Awareness
04 July 2014
Singapore Management University
Organised by:
Supported by:
Synopsis
This symposium will present cutting-edge research and innovative ways of reaching out to the
disadvantaged and financially vulnerable young adults.
MyBnk is a UK based charity foundation that delivers financial and enterprise education directly to 11-25
year olds in schools and youth organisations. MyBnk won the Children and Young People’s Charity
Award as a charity that has made the most impressive contribution in improving the life chances of
children, young people and families.
It has helped over 58,000 young people learn how to manage and make enterprising decision through
fun and interactive sessions. Mr. Steve Korris, Quality and Training Director at MyBnk to share their
success stories.
Professor Olivia S. Mitchell from the Wharton School of the University of Pennsylvania will present a
research paper that was done in an experimental setting where student motivation to enroll in a
financial education course was controlled. Using a differences-in-differences strategy, the study showed
that financial education led to an increase in knowledge and planning.
About the Citi-SMU Programme for Young Adults
Citi-SMU Financial Literacy Programme for Young Adults is a financial education programme designed to
help young adults between the ages of 17 to 30 in Singapore gain financial knowledge and make positive
changes to their financial behavior.
We aim to achieve this by teaching target participants the basics of personal finance, especially the key
financial knowledge and skills applicable to their life stage.
A train-the trainer model will be used in which selected students from SMU will be trained to deliver the
financial literacy outreach curriculum to the young adult community, consisting of young adults in SMU
and the wider community in Singapore, with the focus on reaching the low to the moderate income.
SMU took a step further by developing a curriculum of the in-depth “Personal Finance” elective module
for SMU students.
The financial literacy outreach curriculum was developed with the data and information gathered from
the needs and gap analysis. The curriculum covers the following features:
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Basic money and credit management
Financial and retirement planning
Home and car ownership
Principles of investment
http://skbi.smu.edu.sg/citi-smu/
https://www.facebook.com/cs.flya
Programme
930-10.00am: Registration
10.00am- 10.05am: Introduction by Associate Professor Jeremy Goh
10.05am – 10.10am: Welcome speech by SMU’s President
10.10am – 10.15am: Welcome speech by Citi’s rep (TBA)
10.15am-10.20am: Video
10.20am- 10.50am: 1st speaker, Professor Olivia S.Mitchell from Wharton School of the University of
Pennsylvania, “Does Financial Education Enhance Financial Preparedness?”
10.50am – 11.20am: 2nd speaker, Mr. Steve Korris, Training and Quality Director from MyBnk,
Topic: Taking an inclusive approach to financial education
11.20am – 11.40am: Panel discussion moderated by Professor Benedict Koh, “Building inclusivity in
financial literacy awareness”
11.40am – 12noon: SMU’s President will be awarding token of appreciation to speakers and panelist
12noon – 130pm: Lunch and networking
130pm: Ends
Event Details
Date: Friday, 04 July 2014
Time: 9.30am to 1.30pm
Venue: Singapore Management University
Ngee Ann Kongsi Auditorium
School of Accountancy, Level 2
Address: 60 Stamford Road
Singapore 178900
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Professor Arnoud De Meyer
President
Singapore Management University
Professor De Meyer is the fourth President of Singapore
Management University. Previously, he was Director of Judge
Business School at the University of Cambridge where he was
Professor of Management Studies and Fellow of Jesus College. He was
associated for 23 years with INSEAD where he held various senior
academic and administrative positions, including founding Dean of
INSEAD’s Asia Campus in Singapore.
Professor De Meyer has a Master of Science in Electrical Engineering,
MBA and PhD in Management from the University of Ghent in
Belgium. He also pursued his studies as a visiting scholar at Sloan
School of Management, Massachusetts Institute of Technology (USA).
His research interests are in manufacturing and technology strategy;
the implementation of new manufacturing technologies.
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Citi senior rep
Professor Olivia S.Mitchell
Wharton School of the University of Pennsylvania
Professor Olivia S. Mitchell is the International Foundation of
Employee Benefit Plans Professor at the Wharton School, as well as
Professor of Insurance/Risk Management and Business
Economics/Policy; Executive Director of the Pension Research
Council; and Director of the Boettner Center on Pensions and
Retirement Research; all at the Wharton School of the University of
Pennsylvania.
Concurrently Olivia serves as a Research Associate at the NBER; as an
independent director on the Wells Fargo Advantage Fund Trusts
Board; and as Co-Investigator for the Health and Retirement Study at
the University of Michigan and Associate Director of the Financial
Literacy Center, a RAND/Wharton/Dartmouth Consortium. Her main
interests are public and private pensions, insurance and risk
management, financial literacy, and public finance.
She was awarded the Fidelity Pyramid Prize for research improving
lifelong financial well-being; the Carolyn Shaw Bell Award of the
Committee on the Status of Women in the Economics Profession; and
the Roger F. Murray First Prize from the Institute for Quantitative
Research in Finance. She was also honoured with the Premio
Internazionale Dell'Istituto Nazionale Delle Assicurazioni (INA) from
the Accademia Nazionale dei Lincei in Rome. Her Social Security
reform study won the Paul Samuelson Award for “Outstanding
Writing on Lifelong Financial Security” from TIAA-CREF.
She received the MA and PhD degrees in Economics from the
University of Wisconsin-Madison, and the BA in Economics from
Harvard University.
Mr. Steve Korris
Director of Quality and Training
MyBnk
Mr. Steve Korris is the Director of Quality and Training at MyBnk. He
is responsible for MyBnk's training & management of trainers, quality
assurance, international consultancy and impact measurement. He
joined MyBnk as a start up and has been a core part of its leadership
team which has seen MyBnk reach 75,000 young people across the
UK.
He has worked on international financial education consultancy
projects in Italy, Wales, Brunei and Ireland. He specialises in the
delivery of quality financial education and has submitted evidence the
UK national curriculum review, APPG in Young PeoplE Leaving Care
and the Money Advice Service Financial Capability Review. He is also
part of the CYFI Education Group.
In 2011 he was seconded from MyBnk to work as one of the first one
to one money advisors for the government backed Money Advice
Service. Steve graduated from the University of Leeds with a BA in
History and London South Bank University with an MSc in Education
for Sustainability.
He has a background in sports development projects and sat on the
board of England Handball as an educator advisor promoting the
sport of one wall handball into UK schools.
Hooi Min
TBA
Professor Benedict Koh
Associate Dean (Specialised Masters Programmes)
Professor of Finance (Education)
Director, MSc in Applied Finance
Professor Benedict KOH is Professor of Finance and Associate Dean of
the Lee Kong Chian School of Business at the Singapore Management
University. He is also the Principle Investigator at the Sim Kee Boon
Institute for Financial Economics. Prior to joining SMU, he was Vice
Dean and Associate Professor of Finance and Accounting at the
National University of Singapore (NUS) Business School. He graduated
with a Ph.D. in Finance from the Wharton School of the University of
Pennsylvania. Dr. Koh started his academic career with NUS in 1985.
Prior to joining the academia, he was a corporate banker at the Chase
Manhattan Bank N.A.
Dr. Koh has served as board member of NUS Academic Staff Pension
Fund and associate editor of the Asia Pacific Journal of Finance and
Asia Pacific Journal of Management. He is active in management
consultancy as well as executive training for banks, companies and
government agencies. Some organisations that he had consulted or
conducted training programmes for include the ABN-AMRO bank,
Allianz, Capitaland, Citibank, DBS Bank, EDB, GE Life, GIC, Hong Leong
Group Bhd, IBM, ING Bank, Johnson&Johnson, JTCInternational, KK
Hospital, Keppel Land, Keppel O&M, Lubrizol, Manulife, MICA, MSIG,
NCC, NHG, NOL, Norsk Hydro Group, Prudential, Raffles Medical
Group, Royal Brunei Airlines, Schneider, SGH PGMI, SIA, Singhealth
Group, SNEF, Swiss Reinsurance, UBS and Visa.
He has written numerous articles that were published in academic
journals, books, Pulses, Singapore Stock Exchange Journal, investment
magazines and newspapers. His teaching and research interests are in
Corporate Finance, Investment Management, Personal Finance and
Financial Markets. He has co-written two books on Personal Financial
Planning and Managing Your Money. The former was rated as one of
the best-selling non-fiction books in Singapore. His latest book
Personal Investments was published by Prentice Hall in 2011.
Associate Professor Jeremy Goh
Associate Professor of Finance
Jeremy Goh is an Associate Professor of Finance at the Lee Kong
Chian School of Business, Singapore Management University. He is
also the Principle Investigator at Sim Kee Boon Institute for Financial
Economics at the Singapore Management University.
He received his BS degree from Southern Illinois University in
Carbondale (1985) and his MA (1988), MS (1989), and Ph.D. (1991)
from Washington University, St. Louis. Prior to joining the Singapore
Management University in 2001, he was an Associate Professor of
Finance (with tenure) at Drexel University, Philadelphia (1998-2001)
and Assistant Professor of Finance at the University of South Florida,
Tampa (1997-1998) and a member of the Finance faculty at Chapman
University, California (1992-1997).
Topics on which Professor Goh has published paper in referred
journals include: corporate finance and governance; financial analyst
forecasts; earnings management; term structure of interest rates;
bond ratings; convertible bonds; and private equity placements.
Professor Goh has published extensively in prestigious journals such
as: Journal of Finance, Journal of Business, Journal of Financial and
Quantitative Analysis, Financial Analysts Journal, Journal of Financial
Research, Financial Review, Review of Quantitative Finance and
Accounting, and Quarterly Review of Economics and Finance.
About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in
more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and
institutions with a broad range of financial products and services, including consumer banking and credit,
corporate and investment banking, securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube:
www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn:
www.linkedin.com/company/citi
About Citi Foundation
The Citi Foundation works to promote economic progress in communities around the world and focuses
on initiatives that expand financial inclusion. We collaborate with best-in-class partners to create
measurable economic improvements that strengthen low-income families and communities. Through a
"More than Philanthropy" approach, Citi's business resources and human capital enhance our
philanthropic investments and impact. For more information, visit www.citifoundation.com.
About Sim Kee Boon Institute for Financial Economics
Established in July 2008, the Sim Kee Boon Institute for Financial Economics (SKBI) at Singapore
Management University promotes the study of Financial Economics and Financial Econometrics in areas
of strategic relevance to Singapore’s economy and economies of the region. A significant addition to
Singapore’s efforts to be a financial hub in Asia, SKBI is a leading institute for academic research with
strong industry application and practical dimension in the area of Financial Economics.
The institute has major research centres for quantitative financial analysis and offers training
programmes for professionals in the financial industry. Its work is conducted in close collaboration with
leadings scholars in financial economics and financial econometrics from around the world as well as
leading international organisations and experts from industry
www.smu.edu.sg/instititutes/skbife
About Singapore Management University
A premier university in Asia, the Singapore Management University (SMU) is internationally recognized
for its world class research and distinguished teaching.
Established in 2000, SMU’s mission is to generate leading edge research with global impact and produce
broad-based, creative and entrepreneurial leaders for the knowledge-based economy. It is known to be
a pioneer for its interactive and technologically-enabled pedagogy of seminar-style teaching in small
class sizes which remains its unique hallmark.
Home to 7000 students, SMU comprises six schools: School of Accountancy, Lee Kong Chian School of
Business, School of Economics, School of Information Systems, School of Law and School of Social
Sciences, offering a wide range of bachelor’s, master’s and PhD degree programmes in various
disciplines. With an emphasis on generating rigorous, high impact cross-disiplinary research that
addresses Asian issues of foreign researchers as well as partners in the business community and public
sector through its research institutes and centres.
Through executive education, the University provides public and customised training for working
professionals in meeting the needs of the economy. Close relationships with leading universities,
including The Wharton School, Carnegie Mellon, the University of Pennsylvania and the University of
Chicago’s Booth School of Business, allow SMU to draw on their academic and research strengths in
various collaborations.
The SMU city campus is a state-of-the-art facility located in the heart of downtown Singapore, fostering
strategic linkages with the business and wider community.
www.smu.edu.sg
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