Kathmandu: A young Nepali banker, Pravesh Rijal, has bagged the prestigious Global Conference on Insurance and Finance (GCIF) award.
Pravesh was awarded the GCIF award at a ceremony organized in Las Vegas, US on Tuesday evening. The three-day conference concludes on Thursday.
The GCIF brings people together from the broader insurance and finance industry in the US for networking and knowledge sharing. The award recognizes people for their contributions to the industry. The candidates for the award were selected by evaluating their performance against parameters including overall reach, industry impact, the spirit of innovation, future readiness, and market demand.
A former Senior Vice President of Citigroup, one of the largest banks in the world, Rijal worked at their Global Banking department.
He specializes in quantitative strategies especially in credit markets. He was involved in building mathematical models and devising investment metrics for Citi’s portfolio Globally.
Rijal now heads the Quantitative Strategies Department at Cross River – a new generation bank pioneering the concept of banking as a service.
“The big part of my organization is to provide capital markets solutions to Fintechs. Cross River is a key player in the alternative consumer credit space in the US. We use advanced maths and finance to predict markets and decide how to deploy banks’ capital for investments amounting to billions of dollars,” said Rijal adding, “We also facilitate sales and trading of multi-billion dollars in alternative credit every year – buying from alternative lending platforms and selling to hedge funds, big investment banks, and other banks.”