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POLITECNICO DI MILANO
GRADUATE SCHOOL OF BUSINESS
FINANCIAL AID
REQUEST
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SOCIETA CONSORTILE FER AZIONI
FINANCIAL AID REQUEST
Only to be filled out if the candidate is applying for financial aid from MIP
MIP provides financial assistance to outstanding students who lack sufficient personal resources to
finance their executive education,
PLEASE FILL OUT THE FORM IN FULL. INCOMPLETE OR POORLY FILLED-OUT FORMS WILL NOT BE
CONSIDERED FOR FINANCIAL AID.
Name of Candidate Alexander Vargas Aguilar
FINANCIAL STATEMENT
| EUROS |
i savings derived from current job (multiply for the total number of months | 21,0006
| the average sum of your monthly net salary that you intend to devote to the | |
| funding of your master) | |
| Additional savings from activities outside your main job | 0 |
| Salaries or earings of other family members | 0 |
= ee eee |
| TOTAL RESOURCES AVAILABLE DURING THE MASTER PROGRAM (A) | 24,000€ |
i eee
| Total MBA tition fee (considering the 5000 MIP company sponsorship) | _92,000€
FE Other expected expenses (On average a student spends from 800 to 1200 «10,8006
‘euros per month which includes housing, food and transportation. The student | |
| should make an estimate orthe total duration of the MEA 12 months according |
| to isther needs)
|
[TOTAL RESOURCES NEEDED DURING THE MBA [42,8006
ia LAMBRUSOHI 40 BUILDING 26/8. 20186 MILANO TEL. 419 92 2990-280 - FAX 420 co 22982842 NH SOM DOLIMLT-INFOMIAPOLIMLT
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sRADUATE SCHOOL OF BUSINESS
Scholarship competitions
Consult MIP website and/or contact the Recruitment Staff for list of competitions.
List below which competitions you wish to enter.
Early Bird Reduction.
Assistanship.
Shaping a better future with MIP.
Attach essays when required (see MIP website)
Have you enquired about any other possibilities to receive a financial aid?
ayes = NO
If yes, please list them:
Contributions are assigned on a basis of merit and of need. Please demonstrate your suitability for merit
based contributions and provide us with further details that assist us in evaluating you for need-based
financial aid below (compulsory fields)
Merit-based
Please write in this section your personal or professional achievements that yau deem relevant for the
‘Admission Committee to consider when assessing your Financial Aid application.
During my undergraduate studies i had the amazing opportunity to go on an exchange programme to the
University of New Mexico, This was possible as i was granted a scholarship (all expenses included) from my home university
allowing me io enrich my Ife with great experiences and people, growing in many aspects as a student and human being.
| curliyho four iteration exams from the Soiey of Actuaries (SoA). lam aglbaly cord Financial Rsk Manager by GARP.
‘Ar only two years of hard workin my current job, my passion and results delivered payed off boing promoted to Rk Manager for LA
VIA LAMBRUSCHINI 40 - BUILDING 26/8 70185 MILANO 161 +2902 2909 2020 -Fax o20 2 22902844 - WA SOMA POLIT - NEMA SOLIMLIT
(CEJeIVeserone i Mlno 80 YB8U1S5-REAn. 2051168MIP POLITECNICO DI MILANO GRADUATE SCHOOL OF BUSINESS
SOCIETA CONSORTILE PER AZIONI
Need-based:
Please write in this section the reason why you think you are economically suitable to receive the
contribution you are applying for.
| come from a great and wonderful country but with also big opportunities. Unfortunately the recent pandemic has led to a
Worldwide economic downtum. For Mexico, not only there was a high intemal impact but also our coin devaluated significantly
‘making its value compared to euro around 25% less than before and, therefore, reducing my savings and opportunities to study
‘@ MBA abroad. | am an independent man, living on my own, taking care of my needs and itry to support my community. For all
this i kindly request you to invest in me and my potential as am confident i can contribute tothe culture and growth of Milan.
We request that you attach a copy of your last payroll to assist us with our evaluation.
Conditions of Application for Financial Aid
Applicants for MIP Financial Aid recognize and accept the following conditions:
1. MIP contribution only covers the tuition fee.
2. Contributions offered by MIP are not cumulative, except for the early bird tuition waiver.
3. Incase the applicant is sponsored by his/her own company, MIP may decide to review the contributions
awarded.
4. A lack of information in this form may hinder an accurate evaluation of your position. Any false
information stated on this document will immediately result in the disqualification of the student's
application. MIP reserves the right to require proof of the student's income statement or any other
statement made on this document.
The undersigned declares that he/she accepts all conditions stated above and that all information provided by
him/her in this request form is complete and truthtul.
pate 07/Decl2020 Sipetines
“Ifyou have e digital signature, please attach it. Otherwise, print the document, sign it and scan itDecember 07th, 2020
Mexico City, Mexico
SHAPING A BETTER FUTURE WITH MIP ESSAY
“Climate change adaptation strategies: how can business respond to climate
change risks?”
During the last few years, climate change and its consequences to the global
economy have become clear. Hence, it is imperative for businesses to have a
quick and effective response to the difficulties that could arise in the future due to
climate change.
Climate change poses significant challenges for businesses not only because of
the uncertainty associated with the timing and magnitude of the possible changes,
but also because of the interconnectedness between the associated risks and
impacts in the worldwide economy. For example, failure in adaptation of climate
change can bring the following challenges: water supply crisis, extreme weather,
Volatility in agriculture prices (flooding, droughts), financial debacles, wide income
disparity, food shortage, pollution, etc. Most of them having mutual
interconnections and even possible domino effects (systemic risk).
Possible climate change risks:
+ Severe heat/cold weather
+ Drought/Flood
+ Wild fire
+ Sea level changes
Climate change risks impacts:
+ Water/agriculture supply deficits
* Public health at risk
* Forced migration
* Economic downtums
‘As supply chains become more global, events in different parts of the would can
have unforseen impacts on businesses. For example, floods in Thailand in 2011
directly affected computer hard-disc drive and car manufacturers. The disruption of
such manufacturers exacerbated the impact to other electronic goods
manufacturers in a wide range of companies in EU, Japan and USA.
The arising risks from long-term climate changes are not as easily identified as
those from extreme weather events. There is an excellent anecdote about boiling a
frog that resembles the potential harm of climate changes that occur gradually. The
anecdote goes as following: if a frog is placed in a pot of boiling water, the frog will
quickly jump out of the pot to avoid being hurt. However, if the frog is placed in apot of water at room temperature while slowly turned up over a period of time, the
frog will only adjust its body temperature to match the one of the environment, and
by the time the temperature becomes too hot, it will be too late for the frog to
escape. The same happens to extreme weather events that are generally easy to
detect, whereas the impact of some climate changes are not that easy to identify
with a great risk ahead. Thinking this way, it is one the reasons why businesses
need to take into consideration the potential of gradual climate changes.
Generally speaking, the impact of climate change on businesses vary among
industries as some have a much bigger exposure to certain risks than others.
Nevertheless, businesses can follow the next approachs in order to have a better
understanding and management to the climate change risks they are exposed to
1. Study past climate and severe weather events: Past events are very helpful
as they allow us to learn from them, and by evaluating severe historic scenarios,
businesses can get a good understanding and estimate of the potential effects of
such events to their operations and find a couple of ways to mitigate the risk
embedded in them. This approach can provide a good financial impacts of climate
risks using historic events as a benchmark.
The following resources can be useful
* Local climate agencies can be contacted to ask for any data/trends that may
be available for an area to provide insight about potential future impacts.
+ National climate databases.
* Global climate databases.
2. __ Investigate future climate change projections for areas of interest: When a
business operates in a potentially threatened area, projections should be evaluated
to discover future risks with the potential to harm the company.
Examples:
* Projected increases in maximum temperatures could lead to increased risk
of heat wave events during the summer (some machines cannot operate
under such warm conditions).
* Projected intensification of tropical storms could lead to potential risk of
harm and disaster from storm events in the future.
3. A mapping exercise designed to understand the links of the business
operations with climate changes impact: A complete review of the business
operations in all different areas mapped to their potentially respective climate risk
can be very helpful to understand opportunity areas for the business to improve or
find ways to mitigate such risks.
It is also worth to develop a view of the resulting climate risks from the above
exercise to understand the potential systemic interconnections between them. This
will create a full view of the domino effects that a climate risk can have across the
business.4, Stress testings: This approach is based on the hypothesis of certain worst-
case scenarios of climate risks that can threaten the business and are very helpful
for a company as they provide an estimate impact of such severe events for the
company.
Quantitative analysis of stress testings focus on assesing risks that arise from an
increasing frequency and severity of extreme climate change events using worst-
case-scenarios that althought can very rare, could have the potential to put the
business at risk of total failure using risk management approaches. For example,
an agriculture business can eviauate the potential of flooding or droughts for
several weeks (worst-case scenario) and assess the damage to the business and
food supply.
5. Adaptation analysis: Based on the above scenarios, businesses can weight
the cost benefit of potential future impacts of climate changes against the costs of
adaptation to such risks by finding value in the latter.
Following up on the example of an agriculture business, there could be several
different adaptations: one would be to have a very strong water reserve to mititgate
heavy droughts or installing small barriers across fields desgined to divert the
water into the open land (flooding). Several different options should be evaluated to
assess cost benefit in the long term of the business. How an organization chooses
to do this depends on the nature of the risks identified and the company values and
long-term plans.
An adapiation strategy will provide a clear direction for the neccesary steps to
address climate change risks. The following points should be considered when
building an adaptation strategy:
+ Where is the business today.
+ Where will the business be in the future (medium and long term).
* What are the most important climate change impacts that the business is
exposed to now and in the upcoming future.
+ What are the approaches for effective time responses to climate risks.
6. Risk management procedures: Incorporate climate change risks as a
fundamental part in the tasks of the risk management team of a business.
Businesses should address the climate change risks through existing risk
management frameworks, that must be in line with the overall risk appetite of the
company. Quantitative and qualitative methods should be considered to assess
and monitor financial risk of climate changes.
Considerations for future policies shoud include: creation of feasible mitigation
solutions to climate risks for the short, médium and long term and development of
KRI (famously known as key risk indicators) to measure and monitore theaforementioned risks.
7. Best practices of other businesses: Climate changes risks are now in the
focus of many businesses and some of them are now taking appropiate measures
according to their industry. This could be a potential benchmark for companies that
are just starting to get awereness of the current climate change risks and the
pontential effects in their operations and economic environment.
All the described approach can be very helpful in protecting businesses that are
highly prone to losses due to climate change risks and therefore should be key
considerations for all companies.
On the other hand, in an effort to address climate change risks and prevent
possible future impacts of suchs risks, the Paris Agreement was signed by a
significant amount of countries all around the world. Policies from this agreement
include tax incentives for renewable resources, more stringent requirements for
high carbon operations, etc. These kind of initiatives are imperative for world
leaders to keep implementing in their respective countries, to increase awareness
around the world and stem the increasing risks of climate change.
Other possible course of actions from governments could include the financial
support of companies desgined to create an green impact on society. For example,
businesses creating products such as toothbrush made out of friendly environment
materials should have a positive support from governments, to lead the market to a
shift of traditional harming products to friendly environmental ones. Other
measures could include incentives for businesses to shift from a full working
schedule in an office, to a mix between office and working remotely from home,
hence helping the environment by reducing the use of private transportation,
Another measure may include to enforce schools to start teaching young
population the importance of recycling, the major impacts of climate change and
how each individual can contribute to the overall improvement of the environment
and hence prevent such climate risks.
In conclusion, climate change has become an indispensable component of
businesses and world nations. The potential effects on the environment and
economy has brought the need to for businesses to be prepared and respondon to
them in a very quick and effective way. There are several different measures that
businesses and governments can start doing to mitigate such climate risks before it
is too late to act and there is a reversable harm on them and the overall economy,
Yours Faithfully,
Alexander Vargas AguilarDecember 07th, 2020
Mexico City, Mexico
ASSISTANTSHIP TUITION FEE CONTRIBUTION ESSAY
Which unique skills and competences do you possess that could be useful far one of our
departments?
My name is Alexander Vargas. | am a mexican student graduated with a BS in Actuarial
Science from the National Autonomous University of Mexico (UNAM). During my
undergraduate studies i have acquired a wide range of quantitative and programming
skills. A significant part of the undergraduate programme involves the study of pure
mathematics, which enables students to think out of the box and have a critical and
abstract thinking that allow them to solve problems of any kind. This skill will help me
deliver the best quality of support to the needs of the departments.
As an actuary and thanks to the many international certification and exams i have
taken so far, i learnt a lot about many descriptive and inferencial statistical tools that
can be very helpful in any project. For example, you can know the characteristics or
distribution of your students, maybe the trends in the activities they are involved in or
even take a step further with inferencial statistics to make a prediction of certa
interest they can have about something and more. From my past work experience, this
has been a great asset for me. As i work in risk management for commercial cards,
using statistics i created a statistical tool (using a logistic model) for our whole sales
teams to make a prediction (using a few variables of financial statements of a
company) of the quality of prospects they had in order for them to avoid bad demand
and just focus on the best possible clients. The tool ended up being a total success for
the company and our partners from Canada decided to do the same using my model as
a benchmark.
As a working professional i have developed several different new skills, including the
improvement of others learnt during my career. One of main skills 1 was able to
develop was programming in different languages such as VBA, Matlab, R-project, SQL
and SAS to create inference based on data through statistical tools or the management
of big data sets for business critical decisions. For instance, one of the very first things
i was in charge of in my current job was to take a deep dive into the company's big
data sets, see what valuable things i could find about the current portfolio as senior
leaders had no clear vision about them, and most importantly, create an automatic
code in SAS to pull out monthly portfolio numbers and credit risk measures from
them. The task was challenging, as it needed me to manage data sets, work with them
to create different credit risk measures or distributions, and then move the output to
an automated VBA code in Excel. This spreadsheet could display a very flexible and
dynamic summary about the portfolio numbers, the quality of clients, risk
distributions and credit bureau metrics and also allowing to filter by several different
indicators (maybe a specific revenue segment of clients) and provide instantly the
information. I love the challenge of automating taks as it makes our daily work easier,either in Excel (VBA) or big data sets (SAS) and it is one my main skills i can offer to
your department.
Additionally, during my work experience i have also acquired leadership and
managerial skills through different projects. For example, coordinating operational
teams in projects that involved effective communication and team work with other
work areas. | also worked on the integration of new Fintechs and external data
sources to enhance the current underwriting process. Moreover, oversee and ensure
consistent quality control, accuracy, and compliance with internal policies and
regulatory requirements. These are example of a few things i have been able to work
on that allowed me to develope different skills that your deparment could use. I would
be more than happy to work on implementation projects and innovate with fresh
ideas that help improve the university as i know it has the intention to work on the
following areas: quality of recruitment and profesional growth, underscore the
importance of human values, favor equal opportunities, increase customisation of
growth pathways, boost international activities and more.
1am a person who is very detail oriented, a skill which can be helpful when working
with papers that require a certain level of attention and for many other different office
taks. | like to pay close attention to the exacution of a task, prepared way ahead of the
deadline and most importantly, deliver it with a special added value from my side. I
like to innovate and go beyond a task to improve it in any way possible. | offer this to
your department as well as my full commitment to the projects i get assigned to.
| am very keen to participate in the contribution of the MIP by meeting new people
from the departments, create a network there by creating valuable relationships, learn
from their culture, share my knowledge and experience with them and show my
values as a team and individual.
Yours Faithfully,
Alexander Vargas AguilarAmerican tapress Servicios Profestonales § da RL de CY
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