Financial markets can become unstable, creating nightmarish scenarios for investors and the economy. Spotting rare events and exploring phenomena that can cause destabilization of markets are points of great interest for the financial industry, and for Parisa Golbayani '14. She is currently a student at the School of Systems and Enterprises (SSE) pursuing her Ph.D. in financial engineering.
Noted for her outstanding qualifications, Golbayani was awarded the 2016 Women in Finance Scholarship from FINCAD. One of the main goals of the scholarship program is to inspire exceptional women in finance and provide them with support. More than 200 women from over 50 countries apply for the scholarship. As the recipient of the scholarship, Golbayani will receive $10,000 for her research.
“A market crash can have a significant negative effect on the financial positions of investors,” said Golbayani. “An early-warning system can increase the chance of taking corrective measures to reduce the market impact.”
Her research involves discovering a new method that enables investors to make better decisions and developing an early warning system that detects uncommon events and conditions prior to a market crash, in real-time.
Rising interest in a financial engineering career
Golbayani’s pursuit of a career in finance is rather recent. Prior to her research efforts at SSE, she completed her B.Sc. in electrical engineering from the Babol University of Technology in Iran. She then decided to pursue a graduate degree in electrical engineering, this time in the U.S. She applied and was accepted to several schools, but ultimately decided on Stevens because of its strong reputation, high-ranking and close proximity to New York City. She completed her M.S. in electrical engineering at Stevens.
However, Golbayani started paying more attention to what was happening in the financial industry. She became increasingly interested in financial engineering, and when the opportunity presented itself, she accepted a research position at SSE.
For Golbayani, there are a number of advantages when it comes to doing her research at Stevens. “The financial engineering division provides great opportunities that allow students to uncover how financial markets are evolving in the real world,” said Golbayani.
She enjoys the weekly seminar series where well-known researchers and experts from both academia and industry share their insights. Additionally, the Hanlon Financial Systems Lab enables her to work with the latest hardware and software technologies, and provides access to real-time financial data such as Bloomberg.
As for what it means to be the recipient of the 2016 FINCAD Women in Finance Scholarship, she said, “I am so glad to see that organizations like FINCAD are helping women every year to make achieving their career goals that much easier.”
In the future, Golbayani envisions launching a Fintech company with a focus on delivering risk management solutions.