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Panel on Growth of Masters Level Risk Management Programs @ GARP 15th Annual Risk Management Convention, March 4 -5

On March 4-5, 2014, the GARP 15th Annual Risk Management Convention in New York City at the New York Marriott Marquis will convene a speaker faculty of leading international risk management experts, policy makers and financial risk academics to put forward the most up-to-date perspectives vital to the interconnected worldwide financial economy, and present new tools to manage risk. 

As part of this two day program, there will be a pane discussion on Tuesday, March 4 at 4:30 pm on Risk Education: The Growth of Masters in
Risk Management Programs
• Global trends in masters level programs focused on risk management
• Drivers of the demand for risk management programs
• Shaping the curriculum to match global trends in financial risk management.

The panel discussants are 
John Hull, Professor of Derivatives and
Risk Management, Rotman School of
Management, University of Toronto

Neville O'Reilly, Associate Director,
Financial Statistics & Risk Management,
Rutgers University

Rangarajan Sundaram, Professor of Finance
Stern School of Business, New York University
Moderator: Bill May, SVP and FRM Program
Manager, GARP

 

Center of Excellence in Financial Statistics and Risk Management

Center of Excellence in Financial Statistics and Risk Management

Apply for Membership - Click Here!

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.
:

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..

 

 

 

 

Rutgers Financial Statistics and Risk Management Program joins GARP Partnership for Risk Education

MEDIA CONTACT:
Jennifer Massing PR
tel: +1 917 293 2405
email: This email address is being protected from spambots. You need JavaScript enabled to view it.


OTHER INQUIRIES:
Dr. Neville O'Reilly
tel: +1 848 445 7669
email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Rutgers Financial Statistics and Risk Management Program joins GARP Partnership for Risk Education

Participation Ensures Curriculum Meets Industry Needs

 Piscataway, October 29, 2013 – The Rutgers University Master of Financial Statistics and Risk Management (FSRM) program has joined the GARP Partnership for Risk Education as an Academic Partner Plus. A thorough review of the program led GARP to conclude that the curriculum is designed so students are well prepared to apply the skills and techniques required by the global risk management profession. As an Academic Partner Plus, Rutgers University will support GARP in its commitment to advance risk management through education. 

The GARP Partnership for Risk Education is a framework through which academic institutions can ensure that their risk management course offerings are aligned with global industry needs and best practices. Affiliated schools incorporate the curriculum of one of GARP's globally recognized professional certifications, the Financial Risk Manager (FRM) or the Energy Risk Professional (ERP), into their courses of study. 

The Rutgers University FSRM Master's program emphasizes a practical approach to risk management with courses in probability, statistics, computational methods and data analysis tailored to financial applications and risk management. Additional coursework is offered on financial concepts, financial market structures and operations, trading instruments and risk regulation.  

Beginning in Fall 2013, the FSRM curriculum will support students who elect to register and study for the FRM I and FRM II exams given in the second and third semesters of their program respectively.  

"We strongly encourage students who pursue the risk management track of our degree curriculum to enroll in the FRM certification," says Neville O'Reilly, Associate Director of the FSRM Master's program at Rutgers University. "Doing so will allow them to build the knowledge and skills necessary to succeed in the fast-paced financial services industry." 

GARP provides incentives such as discounts on exam preparation materials, eligibility to apply for GARP Research Fellowships and a scholarship per every 10 registered students.  

"We welcome the Rutgers University Master of Financial Statistics and Risk Management (FSRM) to the GARP Partnership for Risk Education at the Partner Plus level," adds GARP's Managing Director for Educational Programs, Chris Donohue. "The FSRM program's classes focusing on risk management should position students to attempt the FRM examination with significant confidence and help them to function effectively in the field of financial risk management." 

About Rutgers, The State University of New Jersey

Originally chartered in 1766, Rutgers is the eighth oldest university in the U.S. and the largest university in New Jersey. Rutgers offers more than 280 undergraduate, graduate and professional degree programs across 175 academic departments. Nearly 40,000 students study at the Rutgers New Brunswick campus, which is located less than 40 miles from New York City, one of the top financial centers in the world. The FSRM program is hosted in the Department of Statistics and Biostatistics at Rutgers. As one of the first of its kind in the nation, the Department enjoys the reputation of being the strongest based on its outstanding faculty in both research and instruction.

To learn more, please visit www.fsrm.rutgers.edu. 

About Global Association of Risk Professionals

The Global Association of Risk Professionals (GARP) is a not-for-profit organization and the only globally recognized membership association for risk managers. GARP's goal is to help create a culture of risk awareness within organizations, from entry level to board level. GARP's corporate headquarters is in Jersey City, NJ with regional offices in London and Hong Kong.

To learn more, please visit www.garp.org.

 

Rutgers to Inaugurate Center of Excellence for Financial Risk Management at Upcoming Conference

MEDIA CONTACT:
Jennifer Massing PR
tel: +1 917 293 2405
email: This email address is being protected from spambots. You need JavaScript enabled to view it.
 
OTHER INQUIRIES:
Dr. Neville O'Reilly
tel: +1 848 445 7669
email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Rutgers University to Inaugurate Center of Excellence for Financial Risk Management at Upcoming Conference

 Academicians, practitioners and students benefit from platform for collaboration


Piscataway, October 22, 2013 – Rutgers University has announced the establishment of Rutgers Center of Excellence in Financial Statistics and Risk Management (FSRM). The Center’s mission is to serve as a central platform for interdisciplinary research and collaboration between academic researchers, students and practitioners in the financial industry. The inauguration will take place at Rutgers Statistics for Financial Risk Management Conference on November 7, 2013.  

Financial institutions increasingly rely on sophisticated statistical methods to process massive amounts of data quickly and extract useful information from it. Statistical methods are used to explore arbitrage opportunities due to market inefficiency, automate the asset evaluation and selection process, optimize portfolios and evaluate risk exposure.  

“As the markets become faster and more interconnected, the ability to take and manage risk is a source of competitive advantage for financial institutions,” says Neville O’Reilly, Associate Director of the FSRM Master's Degree program. “To this end, we see the need to advance research and practice through collaboration on studies, workshops and seminars, publication of technical reports and white papers as well as student training.” 

Rutgers Center of Excellence in FSRM will serve as a focal point for interdisciplinary research and facilitate the exchange of ideas and discussion around practical problems. It will serve as a platform for close collaboration between Fellows (scholars and practitioners) and Research Associates (current FSRM Master’s Degree program students) on specific studies. Their findings will be widely disseminated for the benefit of the entire financial community.  

Further, the Center will help Fellows generate research proposals for competing grants and funding and provide seed-funding to sponsor or support research activities. It will run research competitions on topics related to FSRM, participate in and sponsor external activities related to the Center’s mission, and extend research expertise on consulting projects.   

Revolution Analytics, a leading commercial provider of open source R, a statistical language with more than 2 million users worldwide, is a sponsor of the Rutgers’ Center of Excellence and conference. The company provides its software to universities for free, and supports centers of excellence around the world. 

“We’re pleased to support Rutgers’ initiative, having already partnered with Dell and Intel to establish centers of excellence in Singapore and Kuala Lumpur,” says David Smith, Vice President of Marketing and Community at Revolution Analytics. “Our support reinforces our corporate mission to establish R as the modern standard for statistical programming.” 

Rutgers Center of Excellence in FSRM is part of Department of Statistics and Biostatistics at Rutgers University, and has a close tie with the FSRM Masters Degree program. Professionals may participate in the Center through three categories of membership. Individuals may join as general members. Institutional membership is available to financial firms and government agencies. Fellows and Research Associates may join by invitation only.  

Rutgers Statistics for Financial Risk Management Conference is part of the 2013 International Year of Statistics celebrations. Financial services industry professionals and researchers will gather for this one day event to hear distinguished experts from around the world share their insights on the statistical facets of risk management. To register for the conference, please log on to http://fsrm.eventbrite.com/ 

About Rutgers Financial Statistics and Risk Management Program 

The Rutgers University FSRM Master's Degree program emphasizes a practical approach to risk management with courses in probability, statistics, computational methods and data analysis tailored to financial applications and risk management. Additional coursework is offered on financial concepts, financial market structures and operations, trading instruments and risk regulation.   

Traditional quantitative finance programs focus primarily on mathematical modeling for developing and pricing complex derivative products. The FSRM program is unique in emphasizing statistical and data analytics tools for measuring, monitoring, managing and mitigating uncertainty, risk and volatility.  

About Rutgers, The State University of New Jersey 

Originally chartered in 1766, Rutgers is the eighth oldest university in the U.S. and the largest university in New Jersey. Rutgers offers more than 280 undergraduate, graduate and professional degree programs across 175 academic departments. Nearly 40,000 students study at the Rutgers New Brunswick campus, which is located less than 40 miles from New York City, one of the top financial centers in the world. The FSRM program is hosted in the Department of Statistics and Biostatistics at Rutgers. As one of the first of its kind in the nation, the Department enjoys the reputation of being the strongest based on its outstanding faculty in both research and instruction. 

To learn more, please visit www.fsrm.rutgers.edu.

PRESS KIT

IMPORTANT NEWS AND PRESS ANNOUNCEMENTS

1) November 7 "Statistics in Financial Risk Management" Conference: click here

2) Rutgers to Inaugurate Center of Excellence for Financial Risk Managment at Upcoming Conference: click here

3) Rutgers Financial Statistics and Risk Management Program joins GARP Partnership for Risk Education: click here

4) Revolution Sponsors Rutgers Center of Excellence For Financial Statistics and Risk Management: click here

5) Risk-Technology.net Rutgers University to host Statistics for Risk Confenence: click here

6) FSRM Slide Overview: click here

7) FSRM FAQS: click here

8) FSRM Brochure: click here

9) FSRM Faculty bios: click here