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Center of Excellence in Financial Statistics and Risk Management

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Mission Statement and Guidelines

Mission:  Rutgers Center of Excellence in Financial Statistics and Risk Management facilitates and supports interdisciplinary research and collaboration between Rutgers faculty and students and researchers and practitioners in financial and research institutions. The Center seeks to promote and advance the research and practice of financial statistics and risk management by supporting and promoting related activities.

Center Activities:  The center will actively promote and engage in the following core activities along with necessary auxiliary or supporting activities, viz.

1)      The center will promote discussions,  exchanges of  ideas and collaborations on projects or research that address practical problems by hosting workshops, working sessions, formal or informal meetings, seminars and conferences.

2)      The center will serve as a forum for collaboration by center Fellows on projects, and for engaging Research Associates to support these projects or to initiate projects of their own.

3)      The center will publish a series of technical reports and white papers, including related computing algorithms and software, disseminate the results of research conducted under the auspices of the center.

4)      The center will support Fellows, in conjunction with Rutgers faculty, in generating proposals for external research grants and funding support.

5)      The center will provide seed-funding where possible and appropriate to sponsor or support research activities of center Fellows. 

6)      The center will run research competitions periodically on topics related to Financial Statistics and Risk Management.

7)      The center will sponsor public events related to the center mission. 

8)      The center will provide technical consulting services to third party projects deemed befitting its mission.

Structure of the Center

 1)      Center Fellow: Center Fellows are the core participants in the research and collaboration activities of the center. The title of Fellow is reserved for distinguished scholars and practitioners. Fellows are by invitation only, with a three-year renewable term.  Any researcher or practitioner engaged in quantitative modeling or research is encouraged to contact the center for consideration to become a Fellow. 

2)      Individual Member: Individuals with interest in research and practice of financial statistics and risk management are encouraged to apply to join the center as a member.

3)      Research AssociateCurrent master students in the Rutgers FSRM program who are interested in supporting and participating in center activities or projects can join the center as Research Associates.

4)      Institution Member:  Financial institutions or corporate entities, research establishments and government agencies can join the center as an institution member through a mutually beneficial agreement. Each institution member will be entitled to nominate a specified number of their associates, members or employees to be center Members.

5)      Center Partner: Professional associations can enter into mutually beneficial partnerships with the center to jointly promote industry certifications, workshops, webinars or conferences.

6)      Board of Directors:  The Board will include domain experts in financial statistics and risk management from academia and financial services industry. It will provide advice and oversight to keep the Center consistent with its mission and operating effectively. The Board has the final decision-making authority on invitations or applications for all categories of center membership.

7)  Director and Associate Director:  A director and an associate director will be appointed for the Center. They are to cooperate with the Board and implement the guidelines and recommendations made by the Board. In addition, they are to oversee the daily operations and activities of the center and promote its mission. They are to conduct initial reviews of invitations and applications for center members of all categories and make recommendations to the Board.

Membership Requirement Guidelines: 

Fellows:

1)      Should be currently employed by a research institution, financial firm or industry association or a sole proprietor of a business offering consulting, investment or analytic services to the financial industry.

2)      Should have expertise in applying quantitative methods and tools of financial statistics and risk management for research or problem solving.

3)      Should be interested in engaging in academic practitioner collaboration on research projects relevant to either solving practical problems of short term interest or advancing the state-of-the-art approaches in financial statistics and risk management.

Individual Members:

1)      Should be interested in research and practice of financial statistics and risk management.

2)      Should pay an annual membership fee, with first year fee waived. 

Institution Members:

1)      Should be a professional, corporate  or commercial entity.

2)       Should be engaged in services, research or other activities related to financial statistics and risk management.

Center Partners:

1)      Should be a professional association, a research center or a corporate entity.

2)      Should provide supporting, promotional and/or educational services to the financial industry or its practitioners.
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Membership Benefits:

Fellows and Research Associates:

1)      Engagement in collaborative research or development of research proposals with other center members in the aspects of:

      a.       Concept development: discuss ideas, gather data, form research objectives;

      b.      Joint research projects that lead to publication of findings;

      c.       Full service research projects that aim for commercial applications are conducted subject to negotiated IP ownership covenants and the terms of  use of the center’s supporting facilities such as Research Associates and computing and administrative services.

2)      Publication of research results as part of the Center’s white paper or technical report series.

3)      Seminar and workshop presentations of research outcome or other related topics.

4)      Fellow or Research Associate personal webpages on the website of the Center.

5)      Privilege of attending all formal or informal workshops, lectures, seminars and conferences organized or sponsored by the center.

6)      Partial or full discount tickets to public events organized by the center.

7)      Assistance in writing and applying for joint grant to various funding agencies.

8)      Privilege of competing center’s seed-funding for research activities.

9)      Privilege of initiating center sponsored activities such as special topic workshops.

10)  Administrative support for center related activities.

11)  Access to center computing facilities and data resources through collaboration with center faculty members or Center Research Associates.

Individual Members:

1)          Free access to Center technical report and white paper series.

2)          Privilege of attending all formal or informal workshops, lectures, seminars and conferences organized or sponsored by the center.

3)          Partial or full discount tickets to public events organized by the Center.

4)          Free access to Center webcasts.

5)          Access to Center’s internal discussion board and selective access to Center Fellows and Faculty members for technical questions and consultation. 

6)          Free access to Center newsletters and activities reports.

Institution Members:      

1)          A member has the privilege of nominating a specified number of the institutions associates, members or employees i.e. those in an employment contract with the institution, to be members of the center.

2)          The center webpage will acknowledge the institution’s member status and display its logo and weblink.

3)          The center will display the member’s logo in all its marketing and promotional material.

4)          The center will acknowledge the member’s status as a sponsor in its white paper and technical report series.

5)          A member is entitled to a manned booth or table for its promotional materials at all Center events.

6)          A member can acknowledge its sponsorship of the center in its promotional materials and display the logo and description of the Center.

7)          A member has the priority in selecting FSRM students for internships through early access to resume books, scheduling career fairs and making presentations to the students.

8)          A member can interact directly with FSRM students by engaging them as Research Associates in center activities.

9)          A member has the privilege to appoint a member to the Board.

Infrastructure:

The Center is located in the Hill Center building on the Rutgers University Busch campus, surrounded by all amenities of a university campus such as tree-lined walks, open lawns, free campus-wide transportation, and many options for dining.

1)          Office and Space: Office space and meeting room in Room 450 and 452 of Hill Center, Busch Campus, Rutgers University.

2)          Equipment and Facilities: Computer Lab and printer, Bloomberg Terminals and other data resources, and FSRM Center Library.

3)          Staff Support: Staff support of activities for the Center.

4)     General Library: Access to Rutgers library system, including the Library of Mathematical Sciences on the ground floor of Hill Center, Bush Campus.

Additional Informatione:

If you would like additional information or would like to provide input regarding the Center's mission and operation, please email either This email address is being protected from spambots. You need JavaScript enabled to view it. at This email address is being protected from spambots. You need JavaScript enabled to view it. or Neville O'Reilly at This email address is being protected from spambots. You need JavaScript enabled to view it..