Rensselaer is America’s oldest technological research university, offering bachelor’s, master’s, and doctoral degrees in engineering, the sciences, information technology and web science, architecture, management, and the humanities, arts, and social sciences.

The university offers degrees from five schools: Engineering; Science; Architecture; Humanities, Arts, and Social Sciences; and the Lally School of Management; as well as an interdisciplinary degree in Information Technology and Web Science.

Rensselaer offers more than 145 programs at the bachelor’s, master’s, and doctoral levels. Students are encouraged to work in interdisciplinary programs that allow them to combine scholarly work from several departments or schools. The university provides rigorous, engaging, interactive learning environments and campus-wide opportunities for leadership, collaboration, and creativity.

Driven by talented, dedicated, and forward-thinking faculty, Rensselaer has dramatically expanded the research enterprise by leveraging our existing strengths and focusing on five signature research areas: biotechnology and the life sciences; energy and the environment; computational science and engineering; nanotechnology and advanced materials; and media, arts, science, and technology.

The Institute is especially well-known for its success in the transfer of technology from the laboratory to the marketplace so that new discoveries and inventions benefit human life, protect the environment, and strengthen economic development.

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Risk Management and Simulation

This handbook is an endeavour to cover many current, relevant, and essential topics related to decision sciences in a scientific manner. Using this handbook, graduate students, researchers, as well as practitioners from engineering, statistics, sociology, economics, etc. will find a new and refreshing paradigm shift as to how these topics can be put to use beneficially. 

Decision Sciences Theory and Practice

Aparna Gupta is a professor of quantitative finance and director of the Center for Financial Studies in the Lally School of Management at Rensselaer Polytechnic Institute. She has been the founding director of the MS program in Quantitative Finance and Risk Analytics at RPI, and holds a joint appointment in industrial and systems engineering in the School of Engineering at RPI.

Dr. Gupta has also been a visiting researcher at US SEC in Washington DC for three years. 

Her research interest is in financial decision support, risk management, and financial engineering. She applies mathematical modeling, machine learning and financial engineering techniques for risk management both in technology-enabled network services, such as energy and renewable energy systems, communication systems, and technology-enabled service contracts, as well as risk management in the inter-connected financial institutions and financial markets. 

She has worked on several US National Science Foundation, US Department of Energy funded research projects in financial innovations for risk management. Currently, she is working to establish a multi-university multi-disciplinary NSF-funded center for research toward advancing financial technologies (CRAFT). 

Dr. Gupta's research has been published in top quantitative finance and operations research journals, and has been awarded various recognitions, including 2018 best paper award of the Financial Management Association and 2019 best conference paper award at the 17th FRAP Conference. She is the author of the book, Risk Management and Simulation. Dr. Gupta is a member of WFA, FMA, INFORMS, GARP and IAQF, and serves on the editorial board of several quantitative finance and analytics journals. She earned her doctorate from Stanford University and her B.Sc. and M.Sc. degrees in Mathematics from the Indian Institute of Technology, Kanpur.

Quantitative Finance

Risk Management

Financial Engineering

Analytical Methods

Machine Learning

Networked Systems

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expert-says-financial-technologies-can-help-address-climate-change

Professor, Lally School of Management; Director, Center for Financial Studies

“Financial technologies offer great promise to tackle climate change and provide pathways for developing sustainable economies and lifestyles,” says Aparna Gupta, a professor of quantitative finance at Rensselaer Polytechnic Institute and co-director of the Center for Research toward Advancing Financial Technologies (CRAFT), the first-ever fintech research center backed by the National Science Foundation. CRAFT brings together industry partners and policy makers to conduct research that is relevant for industry and has potential for commercialization.

Dr. Gupta says that blockchain technologies combined with smart contracts and Internet of Things (IoT) devices are set to transform property and casualty insurance that is subject to increasing threats from climate change. Similarly, distributed ledger technologies can be utilized for issuing innovative climate finance securities, such as green bonds and climate derivatives, by facilitating traceable, transparent, and standardized transactions. Regulatory readiness to support blockchain-enabled green bonds and other climate finance securities issuance is underway across the globe. 

Climate fintech is also set to play a pivotal role in increasing renewable power generation and accelerating the transition to clean energy, according to Dr. Gupta.

Digital lending platforms use crowdsourcing models to provide debt financing for residential solar energy systems. Climate-conscious consumers can make spending decisions that minimize their carbon footprint through solutions such as using a credit card that allows them to round up their purchases and use the change for planting trees. 

In the investment management and advisory space, there is a growing recognition of the need for environmentally sustainable investing. Responding to this need, fintech startups are offering platforms for clean energy investments and enabling investors to construct low-carbon-impact financial portfolios.

“Financial technologies innovations are poised to transform almost all aspects of financial services, and in doing so, offer great opportunities to address climate change challenges,” Dr. Gupta says.

In addition to her leadership in fintech, Dr. Gupta is at the helm of a team of financial and renewable energy experts developing risk management tools to incorporate renewable energy into the energy market. They will set and standardize risk factors to make it easier for this critical industry to be both productive for investors and creators and systematized for users, similar to the rating system created for the bond market.

Dr. Gupta also serves on the Climate Risk Working Group of the Financial Risk Manager Advisory Committee for the Global Association of Risk Professionals tasked with identifying the important climate issues for the training of future global risk professionals. 

Dr. Gupta is among the many experts and researchers at Rensselaer available to speak on this topic.



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