Welcome to Statistics and Actuarial Science
The Department of Statistics and Actuarial Science is a top-tier academic unit among statistical and actuarial science globally. Our community is engaged in topics such as actuarial science, biostatistics, data science, quantitative finance, statistics, & statistics-computing. Our department is home to more than 60 full-time faculty researching diverse and exciting areas, over 1000 undergraduate students from around the world, and more than 175 graduate students in master, doctoral, and professional programs.
The fourth annual Student Conference in Statistics, Actuarial Science, and Finance took place on October 27 & 28, 2023. This two-day event was entirely organized by and for students.
The conference featured keynote presentations by prominent researchers, including Agostino Capponi (Columbia University) and Grace Yi (Western University). Additionally, 30+ student researchers from various universities presented their research findings.
Highlighting excellence, the conference acknowledged outstanding talks at the conference by issuing 6 Presentation Awards to the following participants:
The winners in alphabetic order are:
- Luke Hagar, University of Waterloo
- Dingding Hu, University of Waterloo
- Yifan Li, University of Western Ontario
- Dante Mata Lopez, UQAM
- Zachary Van Oosten, University of Waterloo
- Augustine Wigle, University of Waterloo
Honourable mentions go out to:
- Yuling (Max) Chen, University of Waterloo
- Hwanwoo Kim, University of Chicago
The Institute for Operations Research and the Management Sciences (INFORMS) has awarded department members Alexander Schied and Ruodu Wang, along with co-author Paul Embrechts (ETH Zurich) the Best Paper Award on Financial Engineering in the journal "Operations Research".
The paper aims to understand the consequences of risk optimization in finance when the model being used is uncertain or wrong. The conclusion is that some classic methods of risk assessment, called risk measures in the scientific field, are problematic, and some new methods in financial regulation are much better.
For this purpose, the authors study issues of robustness in the context of Quantitative Risk Management and Optimization. They develop a general methodology for determining whether a given risk-measurement-related optimization problem is robust, called “robustness against optimization.” The new notion is studied for various classes of risk measures and expected utility and loss functions. Motivated by practical issues from financial regulation, special attention is given to the two most widely used risk measures in the industry, Value-at-Risk (VaR) and Expected Shortfall (ES). The authors establish that for a class of general optimization problems, VaR leads to nonrobust optimizers, whereas convex risk measures generally lead to robust ones. The results offer extra insight on the ongoing discussion about the comparative advantages of VaR and ES in banking and insurance regulation. The new notion of robustness is conceptually different from the field of robust optimization, to which some interesting links are derived.
Congratulations, Mary Hardy, on receiving the Society of Actuaries (SOA) 2023 Lifetime Volunteer Award.
Mary's profound impact on the actuarial profession is immeasurable. Her extensive involvement within the SOA has left an indelible mark. With a remarkable history of service in various capacities, Mary's contributions have been nothing short of revolutionary.
Learn more on the Society of Actuaries website.
Student seminar series
Room: M3 3127
The Department of Statistics and Actuarial Science is delighted to announce that it is hosting a conference to celebrate the remarkable contributions of Jerry Lawless and Mary Thompson to the fields of life history analysis and survey sampling methodology. An exciting program of speakers has been lined up for what promising to be a stimulating and enjoyable two days of talks by leading researchers including collaborators, friends and former students of Mary and Jerry.
A banquet will be held on the evening of the 28th.
Richard Cook (Chair)
Email email@example.com for any general event inquiries.
The 2024 Joint Research Conference on Statistics in Quality, Industry and Technology will be held in Waterloo, Ontario, Canada from June 17-20, 2024 at the University of Waterloo. This is a joint meeting of the 29th Spring Research Conference on Statistics in Industry and Technology and the 40th Quality and Productivity Research Conference. The conference is co-sponsored by the American Statistical Association Section on Quality and Productivity, the American Statistical Association Section on Physical & Engineering Sciences, and the Institute of Mathematical Statistics. Organization of this conference is also in partnership with Virginia Tech.
The goal of this conference is to stimulate interdisciplinary research and innovative solutions to practical problems though interactions among statisticians, data scientists, quality professionals, engineers, students, and others from diverse fields. The theme of this year’s conference is, Data Science and Statistics for Industrial Innovation. The technical program will focus on statistical methodology and creative problem solving to address scientific, industrial, and business challenges, drawing upon advances from the fields of statistics, machine learning, and data science.
Organization of the conference is underway. This website will be expanded with additional details as they arise. To contact the conference team with questions, please email Nathaniel Stevens at firstname.lastname@example.org.