Rate My Professor Jiwook Jang

Jiwook Jang is an Associate Professor in the Department of Actuarial Studies and Business Analytics, Macquarie Business School, Macquarie University. He obtained his B.A. in Business Administration from Sogang University, Seoul. He earned a Master of Science in Actuarial Science from City University London and completed his Ph.D. in Statistics from the London School of Economics and Political Science in 1998. Prior to his doctoral studies, he worked at LG Securities International Limited, London, as an assistant to the head trader beginning in 1994, and served as a researcher for a paper prepared for Scottish Amicable at City University London in 1993. His academic appointments include lecturer in Statistics at the London School of Economics, lecturer in Actuarial Studies at the University of New South Wales, and senior lecturer in Financial Mathematics at Bayes Business School, London.

Jang's research interests center on stochastic modeling in insurance and finance, with specializations in cyber risk taxonomies and analysis, multivariate dynamic contagion processes, operational risk modeling, reinsurance contract design, and optimal asset allocation and reinsurance under contagion risks. He has published in prominent journals such as Insurance: Mathematics and Economics, Scandinavian Actuarial Journal, ASTIN Bulletin, Annals of Actuarial Science, European Journal of Operational Research, Journal of Computational and Applied Mathematics, and North American Actuarial Journal. Key publications include "A multivariate compound dynamic contagion process for modeling spillover dynamics in business and economic sectors" (2025, with Rosy Oh), "Optimal asset allocation and reinsurance problem under enhanced dynamic contagion processes" (2025, with Guo Liu), "Cyber risk taxonomies: statistical analysis of cybersecurity risk classifications" (2026, with Matteo Malavasi et al.), "The nature of losses from cyber-related events: risk categories and business sectors" (2023, with Pavel V. Shevchenko et al.), "Cyber risk frequency, severity and insurance viability" (2022, with Matteo Malavasi et al.), "Transform approach for operational risk modeling: value-at-risk and tail conditional expectation" (2008, with Genyuan Fu), and "Catastrophe insurance derivatives pricing using a Cox process with jump diffusion CIR intensity" (2018, with Jong Jun Park). His scholarship has accumulated over 700 citations, underscoring his impact on actuarial science and risk management. Jang teaches courses including Quantitative Asset and Liability Modelling 1 (ACST8087) and Mathematics of Finance (ACST2002), and has supervised PhD students such as Siti Norafidah Modh Ramli (2014) and Modh Ramli (2012).