The International Association for Quantitative Finance (IAQF), formerly the International Association of Financial Engineers (IAFE), is a non-profit professional society concerned with the fields of

quantitative finance Mathematical finance, also known as quantitative finance and financial mathematics, is a field of applied mathematics, concerned with mathematical modeling in the financial field. In general, there exist two separate branches of finance that requ ...

and

financial engineering Financial engineering is a multidisciplinary field involving financial theory, methods of engineering, tools of mathematics and the practice of programming. It has also been defined as the application of technical methods, especially from mathe ...

. The IAQF hosts several panel discussions throughout the year to discuss the issues that affect the industry from both academic and professional angles. Since it was established in 1992, the IAQF has expanded its reach to host events in

San Francisco San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...

Toronto Toronto ( , locally pronounced or ) is the List of the largest municipalities in Canada by population, most populous city in Canada. It is the capital city of the Provinces and territories of Canada, Canadian province of Ontario. With a p ...

Boston Boston is the capital and most populous city in the Commonwealth (U.S. state), Commonwealth of Massachusetts in the United States. The city serves as the cultural and Financial centre, financial center of New England, a region of the Northeas ...

, and

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

Fischer Black Memorial Foundation

The educational arm of the IAQF is the

Fischer Black Fischer Sheffey Black (January 11, 1938 – August 30, 1995) was an American economist, best known as one of the authors of the Black–Scholes equation. Working variously at the University of Chicago, the Massachusetts Institute of Technology, ...

Memorial Foundation (FBMF). While the IAQF focuses on the profession of financial engineering, the FBMF aims to expose students to the financial engineering field and help them work towards a career in the industry. Financial engineering is often underrepresented on university campuses and the FBMF tries to bridge the gap between academia and the professional world. The main tool of the FBMF is the very successful "How I Became a Quant" event series that bring professionals to college campuses to tell students about their experiences getting into the field. The FBMF also co-hosts (along with

SIAM Thailand, officially the Kingdom of Thailand and historically known as Siam (the official name until 1939), is a country in Southeast Asia on the Mainland Southeast Asia, Indochinese Peninsula. With a population of almost 66 million, it spa ...

and

New York University New York University (NYU) is a private university, private research university in New York City, New York, United States. Chartered in 1831 by the New York State Legislature, NYU was founded in 1832 by Albert Gallatin as a Nondenominational ...

) an annual

career fair A career is an individual's metaphorical "journey" through learning, work and other aspects of life. There are a number of ways to define career and the term is used in a variety of ways. Definitions The ''Oxford English Dictionary'' define ...

that draws students from all over the country to meet with the premier hiring companies in the industry. This is one of the only career fairs that is specifically for financial engineering and it is hugely popular with both the students and companies.

Events

Often, these events are evening panels with 3–4 speakers; both practitioners and academics typically sit on these panels. Much of the information presented at these events is available afterward on the IAQF website. Every year, the IAQF honors one member of the financial engineering world with its Financial Engineer of the Year (FEOY) award. The winner is selected through an exhaustive nomination and voting process and the list of former winners illustrates the high standards that the nominees must meet. Former FEOY recipients continue to serve the IAQF as Senior Fellows and include such notable names as

Myron Scholes Myron Samuel Scholes ( ; born July 1, 1941) is a Canadian– American financial economist. Scholes is the Frank E. Buck Professor of Finance, Emeritus, at the Stanford Graduate School of Business, Nobel Laureate in Economic Sciences, and co-ori ...

, Robert Merton, William Sharpe, and

Jonathan Ingersoll Jonathan Ingersoll (April 16, 1747 – January 12, 1823) was a Connecticut politician of the late eighteenth and early nineteenth centuries. Early life Ingersoll was born on April 16, 1747, in Ridgefield, Connecticut, Ridgefield in what was then ...

. The winner of the FEOY is celebrated at an annual Gala-dinner hosted by the IAQF and traditionally held at the United Nations building in New York City. The IAQF hosts an annual conference in the late spring, which is an all day event. The schedule consists of 2–3 panels and a keynote speech by the previous year's Financial Engineer of the Year, all of which circle around one common theme.

Financial Engineer of the Year (FEOY)

Commencing in 1993, this award has been presented annually to an individual who has made a significant contribution in the development and creative application of financial engineering. An award dinner is held annually to honor the achievements of Financial Engineer of the Year. All listed recipients are IAQF Senior Fellows. *2023 Leif B. Andersen *2022 Hélyette Geman *2021 Dilip B. Madan *2020 Paul Glasserman *2019 Cliff Asness *2018

Francis Longstaff Francis A. Longstaff (born August 3, 1956) is an American educator and pioneer in quantitative finance. He serves as the Allstate Professor of Insurance and Finance at the Anderson School of Management, University of California, Los Angeles, an ...

*2017 Michael Brennan *2016 Hayne Leland *2015

Eduardo Schwartz Eduardo Saul Schwartz (born 1940) is a professor of finance at SFU's Beedie School of Business, where he holds the Ryan Beedie Chair in Finance. He is also a Distinguished Research Professor at the University of California, Los Angeles. He is kno ...

*2014 Martin L. Leibowitz *2013 Douglas T. Breeden *2012 Robert Litzenberger *2011 Robert F. Engle *2010 Peter P. Carr *2009 Richard Roll *2008

Robert Litterman Robert Bruce Litterman (born 1951) is chairman of the Risk Committee and a founding partner of Kepos Capital in New York. Prior to Kepos Capital, Litterman spent 23 years at Goldman Sachs, where he was head of the Quantitative Resources Group in ...

*2007 Jack L. Treynor *2006 James H. Simons *2005 Phelim Boyle *2004 Oldrich A. Vasicek *2003 J. Darrell Duffie *2002 Jonathan E. Ingersoll Jr. *2001

Andrew Lo Andrew Wen-Chuan Lo (; born 1960) is a Hong Kong-born Taiwanese-American economist and academic who is the Charles E. and Susan T. Harris Professor of Finance at the MIT Sloan School of Management. Lo is the author of many academic articles in f ...

*2001 Myron S. Scholes (Lifetime Achievement) *2000

Emanuel Derman Emanuel Derman (born 1945) is a South African-born academic, businessman and writer. He is best known as a quantitative analyst, and author of the book ''My Life as a Quant: Reflections on Physics and Finance''. He is a co-author of Black–D ...

*1999 John C. Hull *1998 John C. Cox *1997

Robert A. Jarrow __NOTOC__ Robert Alan Jarrow is the Ronald P. and Susan E. Lynch Professor of Investment Management at the Cornell Johnson Graduate School of Management. Professor Jarrow is a co-creator of the Heath–Jarrow–Morton framework for pricing inte ...

*1996 Stephen A. Ross *1995

Mark Rubinstein Mark Edward Rubinstein (June 8, 1944 – May 9, 2019) was a leading financial economics, financial economist and financial engineering, financial engineer. He was Paul Stephens Professor of Applied Investment Analysis at the Haas School of Busine ...

*1994

*1993

Robert C. Merton Robert Cox Merton (born July 31, 1944) is an American economist, Nobel Memorial Prize in Economic Sciences laureate, and professor at the MIT Sloan School of Management, known for his pioneering contributions to continuous-time finance, especia ...

Board of directors

The IAQF is currently presided over by a 15-member Board of Directors. The members of the Board come from many different backgrounds and include many influential names in the industry.

Committees

The IAQF comprises six committees: the Credit Risk, Education, Investor Risk, Liquidity Risk, Operational Risk, and Technology Committees each focus on a narrow view of

References

{{DEFAULTSORT:International Association Of Financial Engineers Business and finance professional associations Mathematical finance