Rutgers Names Numerix Outstanding Employer of the Year

Rutgers University, one of Advanced Trading's Top Quant Schools of 2012, has bestowed its 2012 Outstanding Employer of the Year Award to Numerix.

The provider of cross-asset analytics for derivatives valuations and risk management and the largest institution for higher education in New Jersey are not strangers. The Rutgers Mathematical Finance Master's Program has partnered with the financial services firm for the past three years.

"It's a great honor and privilege to accept this award on behalf of Numerix, and a perfect complement to a relationship that's been a natural fit from the start," says Steve O'Hanlon, president & COO of Numerix. "As the financial services industry continues to evolve and risk management becomes more scientific and precise the demand for quants and financial engineers will continue to grow, and together with Rutgers we're committed to providing students with the hands-on experience, skills and tools they need to be successful."

Numerix and Rutgers first joined forces three years ago with the launch of Numerix University, a program designed for aspiring financial engineers to learn the foundational skills for pricing and managing complex derivatives though educational seminars and specialized internships.

"With the program's success, Rutgers and Numerix began to explore new and innovative ways it could broaden the educational and professional experience for Rutgers students through more practical course work and a formalized recruitment program," according to a press statement.

The people behind the project include Dr. Paul M.N. Feehan, associate professor and director of the Rutgers Mathematical Finance Program; Carla Visser, director of career management services at Rutgers; Amilda Dema, director of training at Numerix and Saeed Siddiqui, vice president of quality assurance at Numerix, and a Rutgers alumnus.

According to the press statement, "Following a series of training sessions and discussions to identify the scope and goals of the relationship, Numerix software was officially integrated into the Rutgers curriculum in early 2012. Students can now utilize Numerix technology in their Computational Finance studies to create basic derivatives applications and build programs in C++."

"At Rutgers we believe that the key to helping students achieve success in financial engineering and quantitative finance is designing a dynamic curriculum where students can apply theoretical and practical knowledge to real-world scenarios," says Dr. Paul M.N. Feehan, Associate Professor and Director, Mathematical Finance Program at Rutgers.

Freehan continues: "Whether you're a quant, developer or exotic derivatives trader it's always been my experience that to learn new technology can be a long and sometimes arduous process. By utilizing Numerix products and technology in our coursework students have an enormous advantage in trying to land that first job. Though all banks have similar processes and need for such skills, not all do it well; Numerix clearly does a really great job as student feedback has been overwhelmingly positive."

The inaugural award was presented to Numerix officials on May 22 at the firm's New York City headquarters.

Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining Advanced Trading, he served as editor of Waters, a monthly trade journal ... View Full Bio