New York, NY - In the U.S., women make up about half of the entry-level finance workforce, but only about 5 percent of the largest public financial institutions have a female CEO. Numerix is working to help elevate women through a $20,000 (USD) Women in Finance Scholarship. The annual scholarship is awarded to one woman pursuing her advanced degree in finance.
"We are committed to supporting emerging female leaders in finance. We believe we must create opportunities so every woman, no matter their financial situation, has the chance to reach their education goals," said Elaine McKiernan, Executive Vice President of Numerix's Global Business Development.
The scholarship is open to all women pursuing a career in financial asset management, market risk management, or derivatives finance within the capital markets. The application portal opens June 29 and runs until August 4. The winner will be announced in early September. FINCAD previously ran the scholarship starting in 2014.
"After acquiring FINCAD in April 2023, we knew we wanted to continue this important initiative," said Emanuele Conti, CEO of Numerix. "Numerix is proud to support the advanced education of women working in or towards a career in finance.”
The scholarship recipient receives 10,000 (USD) directly to use at their discretion, while the additional 10,000 (USD) goes to their chosen educational institution. Past winners have described the scholarship as crucial to their educational journey.
"The Women in Finance Scholarship has undoubtedly been a pivotal turning point in my journey towards my dream job. It has provided me with the financial support to pursue a master's degree, allowing me further to enrich my knowledge and expertise in the financial domain. This support has propelled my professional career and has helped me move closer to my desired position, expanding my horizons and fulfilling my financial industry aspirations," explained 2022 scholarship recipient Marcela Castro Garcia.
"As a quantitative developer, I am thrilled to see Numerix’s commitment to other women entering this field. For many women, a financial opportunity like this can be the deciding factor as to whether they are even able to continue their education," explained Helen He, a Numerix/FINCAD Quantitative Developer who holds a master's in financial risk management herself.
Past recipients have graduated from prestigious programs and hold leadership positions within the financial industry. After winning the scholarship in 2021, Diana Laura Alvarez graduated with distinctions and landed her dream job immediately.
"This scholarship lightened my financial burden, which allowed me to focus on the most important aspect of the school, learning. Right after I completed my program, I started working for a British universal bank in my dream work: Risk Models," explained Alvarez. "At work, I have been recognized for my excellent performance, which results from the education I received with FINCAD's help."
How to Apply
The scholarship opportunity is open to women of any citizenship who have less than ten years of total work experience and less than five years of professional experience in the financial field. Eligible candidates must be enrolled full-time in a post-graduate program in Finance at an accredited institution and pursuing or planning to pursue a career in financial asset management, financial risk management, or derivatives finance. More information and a link to the official application form can be found on the Women in Finance website.
Numerix is the leading provider of innovative capital markets technology solutions and real-time intelligence applications for trading and risk management. Numerix is dedicated to driving a more open, fintech-oriented digital financial services market. Built upon a 20+ year analytical foundation of deep practical knowledge, experience, and IT understanding, Numerix is uniquely positioned in the financial services ecosystem to help its users reimagine operations, modernize business processes and capture profitability. Numerix acquired FINCAD, a leading analytics company in the pricing and risk analytics of financial derivatives and fixed income products, in April 2023.
Backed by more than 30 years of experience, FINCAD is a pioneer in providing pricing, modeling and risk analytics to financial institutions such as asset management firms, banks, insurance companies, hedge funds as well as over 75 Alliance Partners. From the most basic to the bespoke, FINCAD has the financial engineering expertise to address any derivative challenge. FINCAD empowers global organizations to optimize risk and return through simplified and direct control over the valuation and analytics of derivatives. With the most precise, transparent and scalable technologies for pricing derivatives and fixed-income products, FINCAD’s highly dedicated customer support team goes above and beyond to help clients achieve their goals. FINCAD is headquartered in Vancouver, Canada.