These skills are to be acquired through teaching activities involving one or several or cross-cutting through different disciplines. Teaching Methods As for the curricula, each institution is responsible for its teaching organisation. For university teaching, there are nevertheless national regulations setting the general provisions for the organisation of teaching. Training is mainly dispensed in the form of lectures, tutorials and practical work which the university is required to balance according to the purposes of each course.
In addition, recent legislative changes enacted in the Dodd-Frank Act and the JOBS Acts have further expanded our responsibilities to include examinations of, among others, major security-based swap participants, securities-based swap execution facilities, and crowdfunding portals.
OCIE is responsible for examining this complex, growing and evolving registrant base with our team of approximately 1, staff in the home office and 11 regional offices. To put this in context, some financial services firms have compliance staffs that are multiples of this size, not including consultants.
Granted, many of these firms are overseen by a myriad of regulatory bodies, but the comparison in resources is dramatic.
To meet our responsibilities and fulfill our mission, OCIE has to effectively allocate our resources. We also need to provide our talented examiners with tools that optimize their skills.
Evolving as a Risk-Focused Organization My experience as a portfolio manager has taught me to view the world through a capital-allocation and risk-based framework.
At the end of the day, we are all asset allocators. That asset could be money, time, or worry mindshare. Through this lens, my primary task is organizing and mobilizing OCIE in a way that puts us in the best position to address the greatest risks among our registrant populations.
Over the past year in particular, I believe we have evolved as an office to more optimally allocate our valuable resources. These changes became effective the first day of this Fiscal Year The SEC is the sole regulator for the vast majority of SEC-registered investment advisers, which constitute one of our fastest growing groups of registrants.
Unlike our broker-dealer registrant population, there is no self-regulatory organization over investment advisers.
We want to make sure OCIE is doing our utmost to expand our reach into this key population, and I believe our recent redeployment of staff puts us in in the best position to do that. We are NOT forgetting about the registered broker-dealer population. However, we are optimizing our oversight of these important registrants.
First, OCIE will maintain a significant presence overseeing registered broker-dealers nationwide, including in market centers such as New York and Chicago. And, as always, we will continue to coordinate with them on examination initiatives in order to minimize duplicative efforts as well as leverage their regulatory reach into the broker-dealer industry.
Chair White said it best when she described how the SEC will protect the investing public: Any new analytical tool designed to enhance productivity must justify its utility to the examiner during an exam.
Under this new office, we are integrating the work of our quants with our staff that has direct exam experience to develop tools to identify risks among our registrant populations, both with respect to registrants and the products and services they provide to investors.
Pete and his team are meeting with risk teams from industry and other regulators to understand how others are monitoring and mitigating emerging risks in the marketplace. As the number and complexity of our registrants grows, our ability to conduct industry surveillance is increasingly important.
Although every firm is not examined every year, the total population of registered entities and their activities provide inputs to the development of our risk-based strategy.
If a fund holds the stocks of companies, would you assume that the portfolio manager conducted due diligence on only those companies? Most people would rightly think that the portfolio manager and their teams refined the investable universe by applying various screening methodologies based on their investment criteria.
The team then, presumably, would conduct further analysis and due diligence on hundreds or perhaps thousands of companies to arrive at a portfolio which best reflects their investment thesis.
We analyze data from our entire registrant population, apply various screening methodologies, and arrive at the list of firms we believe expose investors to the most significant risks.
It is imperative that OCIE continually try to improve our ability to identify risks and to incorporate new information and technology into this process, and that we assimilate new insights and learn from the exams we perform.
Specialized Expertise A key component of our risk-based strategy is having staff with specialized expertise. A common myth I heard before I joined the Commission was that examiners were not knowledgeable and did not understand the businesses they examined. I was awed by the knowledge of the OCIE staff.
We are complementing this experience and knowledge by bringing in industry and technical experts to advise us on the most current market developments in the industries we oversee and help us develop exam modules to more efficiently identify risks.
The SEC has recruited specialized staff in derivatives, valuation, options, prime brokerage, trading, and quantitative analytics, to name just a few areas.THE TRAGEDY OF THE COMMON REVISITED by Beryl Crowe () reprinted in MANAGING THE COMMONS by Garrett Hardin and John Baden W.H.
Freeman, ; ISBN Speech enhancement is a classical problem in signal processing, yet still largely unsolved.
Two of the conventional approaches for solving this problem are linear filtering, like the classical Wiener filter, and subspace methods. Considering Design for Automatic Speech Recognition in Use Ben James Kraal, BInfTech(Hons) entitled Considering Design for Automatic Speech Recognition in Use.
This thesis is about designing automatic speech recognition1 systems for people to use; this thesis is also about usability and how usability comes. Help for technical issues with the Applitrack system Login to sign in to the Applitrack system after you have started an application Search to view current license information.
You may use the application through the “Apply” button to request an evaluation of your preparation for any endorsement cited below. The Hearsay-I system is the result of an attempt to represent the diverse sources of knowledge needed for speech recognition as procedures.
The system is highly modularized intoseparateknowledge sourceprocedures. Thismodularityallows each knowledge procedure to contain highly specialized heuristics about its own knowledge. speech has been applied to a speech recognition system designed for normal, healthy speech using Mel Frequency Cepstral Coe cients (MFCC) .
For this thesis we integrated the implementation of Perceptual Linear Prediction (PLP) as.