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Victoria Manuel ’25

Master’s Degree in Systemic Risk

Principal Macroprudential Analyst, Bank of Namibia

Systemic risk is crucial to my role at the Central Bank of Namibia. My primary responsibility is to assess and identify potential vulnerabilities within the financial sector and, when necessary, recommend macroprudential policy interventions. SOM’s systemic risk program is tailored to central bankers from around the world, and it offers a comprehensive approach to understanding financial stability. Being here has already deepened my understanding of systemic risks—their causes, regulatory policy responses, and mitigation measures.

A person with folded arms standing behind a sign that says “Yale University School of Management”
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Several people holding a sign that says “Yale SOM 2025”

At Yale, we learn directly from best-in-class professors, regulators, and industry experts, all of whom bring firsthand experience in policymaking during financial crises. Learning how banks conduct macroprudential policy, and what tools and regulatory measures are being applied, gives me evidence-based insights to bring back to my own team. My research project focuses on identifying the phases of the financial cycle and capital flows. Coming from an economy with high exposure to external vulnerabilities and a constrained monetary policy framework, I hope this research can yield new understanding into early risk detection, so we can formulate prompt policy responses.


My cohort includes central bankers, financial professionals, and economists from around the world, each bringing a wealth of experience. I learn from them every day. The program encourages collaboration, especially through the Systemic Risk Colloquium, where we share insights from our countries’ financial stability approaches and regulatory frameworks. Given that my bank is at an early stage of implementing its macroprudential framework, these exchanges are invaluable. I plan to maintain this network after the program, as these relationships will continue to be a source of support and point of contact in times of need.

Interviewed on November 15, 2024