Prize Specifications

Principal Guideline

The SIAM Activity Group on Financial Mathematics and Engineering (SIAG/FME) Early Career Prize, established in 2010, is awarded to an outstanding early career researcher for distinguished contributions to the mathematical modeling of financial markets in the three calendar years prior to the year of the award.

Prize Committee

Formation

The recipient will be selected by the SIAG/FME Prize Committee. This committee will consist of a panel of at least five SIAG/FME members and will oversee all SIAG/FME prizes to be awarded at the next SIAM Conference on Financial Mathematics and Engineering. The SIAG Chair, in consultation with the other officers, will form a list of people to serve and will submit the list to the SIAM Vice President at Large (SIAM VP) for approval prior to inviting the committee members to serve. The SIAG officers will seek to ensure a diverse composition of the prize committee in research area, geography, employment sector (industry, national laboratories, universities), and under-represented groups. The appointments will be made at least twelve months in advance of the prize award date.

Tenure

The term of office will be from the date of appointment until the date of the award.

Rules of Operation

The SIAG/FME officers and the SIAM office will solicit nominations for the prize from the general membership of the SIAG/FME and from other members of the scientific community, using SIAM office resources as needed.

The prize committee will follow the ‘best practices’ set out in the SIAM document for Selection Committees. The prize committee will follow the SIAM rules for conflict of interest as posted on the SIAM web site.

If a committee member accepts nomination for the award, the SIAG officers will appoint a replacement upon notification by the committee chair and with the approval of the SIAM VP.

Selection Procedures

Eligibility

The recipient's work must be a significant research contribution to financial mathematics. At least one of the papers containing this work must be published in English in a peer-reviewed journal bearing a publication date within the three calendar years prior to the year of the award. Moreover, either the recipient must be a graduate student or the paper's publication date must be no more than three (3) calendar years later than the year in which the author received the PhD or equivalent degree. The committee may consider exceptions to the three-years-from PhD rule, for career interruptions or delays occurring, e.g., for child bearing, child rearing, or elder care. The award can be received only once in a lifetime. The committee may consider exceptions to the 2-year rule, for career interruptions or delays occurring, e.g., for child bearing, child rearing, or elder care.

Recommendation of the Prize Committee

The SIAG/FME officers will develop a list consisting of up to four (4) members of the SIAG to serve as a prize committee (judges) no later than five (5) months prior to the meeting (the exact date will be posted on the conference website). The notification must be accompanied by a written justification and a citation not exceeding 25 words that can be used for a certificate and read at award time.

The SIAM VP will accept or reject the committee's recommendation within one month of notification.

If the recommendation is accepted, the award presentation will be made according to the procedure below. If the recommendation is not accepted, the SIAM VP and the Prize Committee will select an acceptable individual at least four months prior to the award date.

The Selection Committee has the authority to choose to abstain from giving the award if there is no acceptable individual. If the award is not given for this reason, a new selection committee will be selected for the next award cycle.[1]  

Notification of Award

The Chair of the Prize Committee will notify the recipient of the award at least three months in advance of the award date. An invitation will also be extended to the recipient to attend the award ceremony at the biennial SIAM Conference on Financial Mathematics and Engineering to receive the award. 

Description of Award

Award Type

The award will consist of a certificate containing the citation. Travel funds will be made available to reimburse the recipient for reasonable travel expenses incurred in attending the award ceremony.

Award Date and Eligibility Period

The prize is awarded every second year (starting in 2010) at the biennial SIAM Conference on Financial Mathematics and Engineering. The eligibility period is the three calendar years prior to the year of the award. The overlap in eligibility periods is intended to ensure that no candidate will fail to be considered due to the nomination deadline.

Award Presentation

The SIAG/FME Chair and the Chair of the Prize Committee will announce the award at the SIAM Conference on Financial Mathematics and Engineering and present the award to the recipient. An announcement of the award will appear in SIAM News and on the SIAG/FME website.

^[1] An award decision will also be postponed to the next cycle if the number of nominations does not meet the required number to forward to the selection committee. See SIAM Prize Policy for more information.