Associate Professor in Financial Innovation

Location
Hoboken, NJ
Posted
Apr 29, 2017
Institution Type
Four-Year Institution

Job Description

The School of Business at Stevens Institute of Technology is seeking applications for a senior faculty position in the area of financial innovation who will lead its newly-created Program for Financial Innovation. Candidates for this position should Have a background ideally combining some or all of the following areas: finance and financial analytics, economics of innovation, computer science, and policy analysis, with specific research interests in the areas of innovation, economics of innovation, financial analytics or financial technologies. Experience in working with industry - for example, with banks, insurance companies, fintech companies, venture capital firms, or crowfunding companies - would be a plus. A deep understanding of financial processes, including those surrounding alternative assets, would be a plus. A record of research excellence as demonstrated through top publications and research grants, as well as extensive experience in institution building within an academic environment is mandatory. Demonstrated ability to build relationship with industry and other academic institutions is desirable.

We are looking for candidates whose research has the potential to significantly impact society. Candidates might demonstrate this impact by explaining how their research will contribute to our understanding of the innovation processes involved in the design and launch of new financial products, their impact on society, the factors affecting the innovation process, the impact of technology, the ethics implications, and the subsequent need to adapt supervisory and regulatory practices in order to foster innovation.

In addition to the social impact of the candidate's research, we invite applicants who can demonstrate the scholarly merit and impact of their research. We are looking for researchers with strong methodological skills, and with some experience in policy studies related to innovation, regulation, the financial sector and/or financial innovation.

Candidates should exhibit the potential for continued excellence in research and teaching. Industry and/or government experience within these fields is a plus. The position will require the successful candidate to maintain a balance between research, teaching and leadership around the theme of financial innovation.

About the Program: The Program for Financial Innovation in the Digital Age, established at Stevens Institute of Technology with the support of the Charles Koch Foundation, is a consortium of School of Business faculty members and PhD students. It addresses the study of financial innovation in the digital age through a program of multi-disciplinary research. The study of innovation as it is related to finance exhibits continuous interaction between (a) the producers of information technologies and the financial service companies as users of these technologies; and (b) the financial service companies as providers of innovative financial instruments and the end-users of financial products. Both these aspects are of core importance to the Program.[1] The nature of the financial services sector as highly internationalized (spanning geographical boundaries), highly technologically advanced, highly competitive, highly human and physical capital-intensive, and extensively regulated gives it a special character that requires a multi-faceted approach to the study of the sector's innovative processes. The following areas of study will be pursued:
  • The conceptual understanding of innovation processes in the financial services sector and how they are different from in the manufacturing sector and other sectors traditionally studied in the field of economics of technological change. This is the theoretical component of the research, drawing upon the methods of the economics of technological change and innovation, technology management, social and physical network analytics, and financial engineering.
  • The empirical analysis underlining and enabling conceptualization which requires extensive data gathering on all different fronts mentioned previously. This activity will feature prominently the structured interaction with end-users and originators of financial products and an understanding of the mathematics of risk transfer and efficient allocation of capital. This is the empirical component of the research, drawing upon methods in economics, empirical finance, social sciences and financial engineering.
  • The development of a design discipline for financial products which links financial engineering with knowledge from other disciplines including entrepreneurship, ethics, leadership and engineering design.
  • The study of the regulatory environment and its effect on innovation - and vice versa. National and international regulation has been a particularly important feature of the operating environment of financial services around the world and has tended to deeply affect innovation processes in the sector. Regulation has also affected the extent to which important innovations are introduced by non-incumbents. This is the policy component of the research. Legal experts, regulators and policymakers will be brought in to contribute to these issues.
  • The study of all of the above at the international level to underscore the fact that the financial services sector is extensively globalized with multiple important centers of activity around the world - besides the largest one sitting next to our School.


The Program will bring together senior academics with industry leaders and federal and state regulators to articulate important research questions and to develop its research agenda. Through the Program, junior faculty members will be provided opportunities to apply their research skills and to develop more focused research agendas, and PhD students to identify dissertation topics.

The Program's output will include scholarly contributions on specific research questions, educational activities, and contributions to policy debates. It could become a prime example of evidence based policy making and, when successfully implemented, it is intended to be a national resource.

About the School: Stevens Institute of Technology is a private institution located in Hoboken, NJ, directly across the Hudson River from New York City. Hoboken is a vibrant, walkable community in close proximity to Manhattan and has been ranked among the 12 best college towns in the country by Princeton Review. The School of Business has a special focus on technology and innovation and encourages interdisciplinary research. The school offers MBA and Executive MBA degrees, eight Masters degrees in areas such as Finance, Financial Engineering, Business Intelligence & Analytics, Information Systems, and, a Doctoral program in Business Administration, as well as undergraduate degrees in Business and Quantitative Finance. The School of Business is AACSB accredited, and several of its graduate programs have been ranked among the top 10 in the country. Stevens Institute of Technology works closely with local and global industries as well as government organizations on various research projects. Please visit our webpage for further details: www.stevens.edu/business

How to Apply: Candidates are invited to apply via the Stevens Institute of Technology website at https://www.stevens.edu/directory/division-human-resources/employment-opportunities (Requisition RQ16989) and also to submit a cover letter expressing their interest in the position, a current CV, a statement describing their specific areas of research interest in the area of financial innovation, a proposed research agenda to grow the program, and three references to: Susan Pavelchak, School of Business, Stevens Institute of Technology, Hoboken, NJ 07030, (spavelch@stevens.edu).

The School of Business at Stevens values diversity and seeks candidates who can contribute to a welcoming climate for students of all races and genders. Stevens is an NSF ADVANCE institution committed to equitable practices and policies. We strongly encourage qualified women and minority candidates to apply


[1] According to the Financial Times Lexicon, "Financial innovation can be defined as the act of creating and then popularizing new financial instruments as well as new financial technologies, institutions and markets. It includes institutional, product and process innovation."


Department
School of Business
General Submission Guidelines:
In order to be considered a candidate for any job at Stevens, you must submit an online application. Please attach a cover letter and resume with each application. Other requirements for consideration may depend on the job.

Still Have Questions?
If you have any questions regarding your application, please contact Jobs@Stevens.edu

EEO Statement:
Stevens Institute of Technology is an Equal Opportunity Employer. Accordingly, Stevens adheres to an employment policy that prohibits discriminatory practices or harassment against candidates or employees based on legally impermissible factor(s) including, but not necessarily limited to, race, color, religion, creed, sex, national origin, nationality, citizenship status, age, ancestry, marital or domestic partnership or civil union status, familial status, affectional or sexual orientation, gender identity or expression, atypical cellular or blood trait, genetic information, pregnancy or pregnancy-related medical conditions, disability, or any protected military or veteran status.

Stevens is building a diverse faculty, staff and student body and strongly encourages applications from female and minority candidates as well as veterans and individuals with disabilities. Stevens is a federal contractor under the Vietnam Era Veterans' Readjustment Assistance Act (VEVRAA) and the Rehabilitation Act of 1973, as well as other federal statutes.


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