Dongping (Donovan) Xie
I hold a PhD in Economics and am a CFA charterholder. I recently returned to the U.S. after serving as Lead Economist for Shenzhen Mongoose Consulting Co. Ltd. I am seeking a position that leverages my expertise in financial modeling, impact evaluations, policy analysis, econometrics, game theory, as well as my leadership experience.
My dissertation Three Essays on Bank Distress and Business Bankruptcy used a diverse set of empirical techniques to illustrate the causal effects of bank liquidity issues on businesses' solvency. A chapter of the dissertation was published in the journal of Review of Financial Economics.
At Shenzhen Mongoose Consulting, I led the design of Risk Monitoring System, risk management software that has been widely used among Chinese banks. I also led consulting projects in reorganization, M&A, financial products & valuation, strategy, antitrust, and many other subjects.
EXPERIENCE
2019-2021
Shenzhen Mongoose Consulting Co. Ltd.
Lead Economist
Risk Monitoring System (RMS)
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I led the development of RMS;
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This risk management software has widely been used by banks;
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RMS applies state-of-the-art econometric and ML techniques;
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RMS analyzes high-frequency data to forecast low-frequency economic variables;
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RMS factorized high-dimensional data (with SVD & PCA) to build industrial indexes.
Economic/Financial Consulting Projects
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I led consulting projects in reorganization, M&A, financial products, strategy, etc.;
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I delivered business solutions to customers and communicated with decision-makers;
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I coached, mentored and supervised over 20 entry-level economic/financial analysts.
2011-2014
Research Assistant
American University
I participated in several joint research projects with NASA, Santa Fe Institute, Stanford University and other institutions. I utilized my knowledge in game theory and skills in modeling and programming to provide research assistance in topics like cyber security, aviation, and so on. I coauthored in papers published in peer-reviewed journals, like IEEE transactions, and conferences.
2012
U.S. Securities and Exchange Commission
Financial Analyst (Internship)
I performed financial modeling, financial statement analysis, and statistical forecasting to add thoughts to studies headed by the SEC's financial economists. In one project, we looked into the determinants of seasonal at-the-market offerings. In another, we discussed what drives reverse mergers and evaluated the post-acquisition performance.
EDUCATION
2010-2018
Ph.D. in Economics
American University
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Dissertation: Three Essays on Monetary Policy Transmission and Banking Crises (sponsored by AU's Doctoral Student Research Award)
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Fields (primary): Monetary Economics, Financial Economics, Econometrics, Macroeconomics, Agent-based Modeling
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Fields (secondary): Game Theory, Microeconomics, Economic History, Labor Economics, Development Economics
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Professional Affiliation: International Honor Society in Economics
2008-2010
Master of Science in Finance
Illinois Institute of Technology
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Fields: Financial Modeling, Derivatives, Corporate Finance
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Selected Course Projects:
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Q-version of Hull-White Model: implemented an interest rate model with skew and priced caps using q-model;
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Anheuser-Bush and the Beer Industry Analysis: diagnosed financial distress of the company with DuPont analysis and other techniques
2004-2008
Bachelor of Science in Applied Mathematics
Beijing Univ. of Posts & Telecomm.
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Fields: Mathematical Modeling, Statistics
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Thesis: How the Honeypot Technology Defends Cyber-Security and A Proposal for Honeypot Design
Lead Economist in Shenzhen Mongoose Consulting Co., Ltd (2019-2021)
Evaluation of Guangzhou's Economic Performance,
a function of regional study module of RMS.
Signing Ceremony with AFCA to Jointly Build a New Financial Study Institution
About the Company
Mongoose is a think tank that provides consulting services towards financial institutions in China. I joined Mongoose in 2019 as the Lead Economist. I took the lead in research and in the design of core products. I was also responsible for daily operations, marketing, training junior analysts, etc.
Products and Customers
The major product of Mongoose is the Risk Monitoring System (RMS), software that aims to assist financial institutions in identifying hidden risks. It is already quite competitive after only two years of designs and redesigns. Customers include large commercial banks, e.g. China Construction Bank, Industrial and Commercial Bank, and Bank and China, small bank unions, e.g. Asia Financial Cooperation Association (AFCA), trust companies, e.g. Zhongrong International Trust.
The company also generates dozens of reports and papers, some of which are published in well-known journals or newspapers. The range of study is wide, from monetary policy and fiscal deficits, to poverty and happiness, covering nearly all branches of economics that matter to people's lives.
Private Offered Fund
In early 2021, I proposed to the board to found a private offered fund. Over the year, the company used the power of its research and its influence over the financial industry to successfully attract enormous investments from wealthy individuals, broker-dealers, and trust companies and was preparing for the new fund. The mission of the fund is to use research diligence to guide investment and maximize returns for shareholders. It focuses on the primary market. I designed the investment policy and core strategies for the new fund.
2021 Shenzhen Annual Investment Conference
(Mongoose proposed a new primate fund and I was the main presenter)
LEADERSHIP
RISK MONITORING SYSTEM
About
Module of Macroeconomic Risks
Risk Monitoring System (RMS) is a financial tool invented by Mongoose to assist banks identify risks. It follows a top-down framework, showing macroeconomic risks, mesoeconomic (regional & industrial) risks, microeconomic (firm-level) risks. I was the team leader in the design of the software.
Macroeconomic Risks
This module outlines three critical aspects of the economy: production, consumption, and international trade. It predicts the movements in both the domestic economy and the global economy, with a particular eye on inflation and monetary policy.
Mesoeconomic Risks
Module of Mesoeconomic (Regional & Industrial) Risks
Recent years, commercial banks shift their attentions to regional analysis and industrial analysis, especially for head offices who need to allocate funds across branches. To accommodate this need, the meso module constructs a risk matrix with region on one horizon and industry on another. So each element of the matrix describes the risk characteristics of one industry in a particular region.
Microeconomic Risks
It is the responsibility of branches and sub-branches to screen qualified borrowers. This module assists them to collect information from potential borrowers, to analyze borrowers credibility, and to draw borrowers' risk profiles. It is also useful in post-loan monitoring.
RESEARCH
TEACHING
Professional Lecturer - 2018-19
(American University)
Adjunct instructor - 2015-16
(American University)
Teaching Assistant - 2009, 2012-15
(American University & Illinois Institute of Technology)
Courses:
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Macroeconomics (graduate level) - Spring 2019
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Principles of Macro - Fall 2018 & Spring 2019
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Development Economics - Fall 2018
Selected Comments from Student Evaluation
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“He made lectures so easy to understand, and prepared for the lectures so much.”
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“He was very quick whenever I used to email him and whenever there was a test or exam, he explained it really well and gave us tips on how to study and main things to include.”
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“Very knowledgeable.”
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“He gives a good detail and lectures.”
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“His lectures are very relevant to everyday life.”
Courses:
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Principles of Macro - Fall 2015, Spring 2016, Fall 2016
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Intermediate Macro - Fall 2015
Courses:
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Mathematical Economic Analysis
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International Finance
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Growing Artificial Societies
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Models for Derivatives
SKILLS
Computer:
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Python
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SQL
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R
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MATLAB
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C/C++/C#
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STATA
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SPSS
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SAS
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Excel (using VBA & Macros)
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LATEX
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Mathematica
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NetLogo
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EViews
Language:
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English (full professional proficiency)
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Chinese Mandarin (native fluency)
PUBLICATIONS
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Xie, Dongping, and Mary Eschelbach Hansen. “Supply of bank loans and business debts: A view from historical bankruptcy cases.” Review of Financial Economics 38 (2020):170-187.
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Grana, Justin, David Wolpert, Joshua Neil, Dongping Xie, Tanmoy Bhattacharya, Russell Bent. “A Likelihood Ratio Anomaly Detector for Identifying within Perimeter Computer Network Attacks,” Journal of Network and Computer Applications, no. 66 (2016): 166-179.
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Bono, James, David Wolpert, Dongping Xie and Justin Grana. “Decision-Theoretic Prediction and Policy Design of GDP Slot Auctions,” 2014 Aviation, Technology, Integration and Operations Conference, American Institute of Aeronautics and Astronautics, June, 2014.
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Backhaus, Scott, Russell Bent, James Bono, Razak Lee, Brian Tracey, David Wolpert, Dongping Xie, and Yasin Yildiz. “Cyber-physical security: A game theory model of humans interacting over control systems.” Smart Grid, IEEE Transactions on 4, no. 4(2013): 2320-2327.
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Alonso, Juan, Philippe Bonnefoy, James Bono, Alice Fan, Dominic McConnachie, Brendan Tracey, David Wolpert and Dongping Xie. “Application of Game Theoretic Models to Evaluate Airline Equipage Dynamics of NextGen Technologies,” 2013 Aviation, Technology, Integration and Operations Conference, American Institute of Aeronautics and Astronautics, August, 2013.
WORK IN PROGRESS
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“Business Borrowing and Interbank Linkages: Joint Determinants of Financial Fragility” (with A. Isaac)
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“Did the Fed’s Credit Easing Benefifit Both Financial and Non-fifinancial Firms? Evidence from the Commercial Paper Market”
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“Strucutral Breaks in the History of China’s Monetary Policy: A Study Based on the Expanded Taylor’s Rule Using GMM and DSGE” (with X. Xu)
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“Asymmetric Transmission Effffects of Monetary Policy to the Real Sector over the Business Cycle” (with X. Xu)
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“Systemic Risks in China’s Banking System and the Corresponding Macroprudential Practices: From the Perspective of Agent Based Modeling” (with X. Xu)
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“Migration, Social Networks, and Credit Access: Evidence from Nepal”
PRESENTATIONS
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3nod Group, Shenzhen 2021 Annual Investment Conference 2021, "The Rebalance of the Market Indicating Three Investment Strategies"
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Asia Financial Cooperation Association, The 7th Small Bank Conference 2020, "Why Is the Bailout of a Troubled Bank Not A Liability of the Local Government?"
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George Mason University, Economic History and Development Workshop 2016, “Bank Lending Standards and Business Debts” (coauthored with M. Hansen)
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Johns Hopkins University, The Graduate Workshop 2014, “Real Sector Shocks and Banking Sector Contagion” (coauthored with A. Isaac)