Scholarship Winners
Dr. Xiongwei Ju Scholarship Award Winners
Dr. Xiongwei Ju graduated from the Gies College of Business in 1999 as a Doctor of Philosophy in Finance and is the founder of Parametrica Network.
The MS Financial Engineering Program is proud to award the following MSFE Class of 2024 students with the Dr. Xiongwei Ju Scholarship Award for excellence in learning and for their contributions to the MSFE Program:
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Kamin Atsavasirilert |
Yiqian Liu |
Goldi Pangayom |
Zeyuan Pan |
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Ruyan Jiang |
Hongwei Zhang |
Jiangda Wang |
Hariharan Manickam |
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Yunze Liao |
Honglin Qian |
Ananya Singh |
Illinois MSFE Academic Excellence Scholarship
All students enrolled in the MS Financial Engineering Program are eligible for the Illinois MSFE Academic Excellence Scholarship. This scholarship honors students who have achieved a 4.0 GPA after completing one year of study. The winner(s) will receive a monetary scholarship which is applied to their tuition during their final semester of study.
Class of 2026 Award Winners
Winner: Akuressage Devminda Lakshitha Abeynayake
Undergraduate Degree: Industrial Statistics
Undergraduate Institution: University of Colombo, Sri Lanka
Why did you choose Illinois?
I chose the MSFE Program in Illinois because it offered the ideal combination of academic rigor, technical depth, and global recognition. UIUC is consistently ranked among the top engineering schools worldwide, and that reputation carries directly into the MSFE Program. The curriculum’s integration of financial theory, mathematics, data science and computer science aligned perfectly with the skills I wanted to develop for my career. I was also drawn to the industry sponsored practicum project, which I felt would give me the chance to apply what I learned in a real-world setting. In addition, the collaboration between the Gies College of Business and the Grainger College of Engineering provided a wide range of electives that allowed me to shape my learning towards my goals. Altogether, these elements created the environment I was looking for and supported the long-term goals I had in Financial Engineering.
What was your favorite MSFE course and why?
My favorite subject was Machine Learning in Finance Lab. Even though I only took the second sequence of the course, I was able to learn techniques that are directly used in quantitative finance. The course balanced coding with the underlying theory, which made the material both practical and rigorous. What I enjoyed most was replicating a research paper and learning how to use Quantlib. The final project allowed me to work in a team and apply my data science skills to a real financial problem. The course was taught by Professor Matthew Murphy, whose approach made the material highly relevant.
What is your career goal after leaving our program?
My career goal after completing the program is to become a quantitative researcher with a strong emphasis on quant development, which aligns with the work I was doing prior to joining the program. In the long run, I want to move deeper into the research side, developing models and testing new ideas and contributing to systematic strategies.
Winner: Alberto Mario Munoz Estrada
Undergraduate Degree: Physics & Computer Science
Undergraduate Institution: Grinnell College
Why did you choose Illinois?
I chose to attend Illinois for a few reasons. First, I was already familiar with UIUC through my girlfriend, who is a PhD student at UIUC. This led me to attend the graduation of a friend who was part of the MS Finance program. There, I got to talk to faculty about my job at the time and my interest in finance. After I talked to faculty, I became interested in applying. Later, I did some research on the university and saw that both the business school (Gies) and the engineering school (Grainger) were very strong both academically and in terms of career outcomes. This convinced me that this would be a top choice for schools to attend. Finally, I researched some alumni from the MSFE program and saw that their career paths looked a lot like the career path I wanted to follow. This made the decision obvious, after which I chose to attend Illinois.
What was your favorite MSFE course and why?
My favorite MSFE course was Advanced Financial Derivatives taught by Professor Martin Widdicks. I found the course challenging, but due to its focus on valuation of real derivatives, it felt the closest to the real world applications of what we’re learning. It gave me a chance to actually properly read a Bloomberg terminal, and to test the knowledge acquired in earlier courses like intro to finance. Besides this, Prof. Widdicks is a terrific lecturer, who keeps the class engaging at all times. I found his office hours to be very helpful at key moments during the course and appreciated his teaching greatly.
What is your career goal after leaving our program?
After leaving the program I intend to pursue a career as either a quantitative developer or a quantitative researcher, hopefully in market derivatives. My career before all this was as a software developer, so I naturally gravitated towards a related path. Similarly, my undergraduate studies were more research focused, so I would love the opportunity to do research again, albeit in a different field. I am very interested in optimal strategies for bid-ask spreads at market-makers, and specifically how volatility is dealt with to minimize or eliminated losses during high volatility periods of trading. I hope to one day implement that knowledge in my own enterprise, as I see great opportunities for market-making in emerging markets, where there is little liquidity.
Class of 2025 Award Winners
Winner: Michael Wattelet
Undergraduate Degree: Systems Engineering & Design
Undergraduate Institution: University of Illinois Urbana-Champaign
Why did you choose Illinois?
I chose the MSFE Program at Illinois because of it's strong reputation and the rigor of it's curriculum, which combines advanced financial theory with data-driven and computational approaches. The Program's emphasis on both technical depth and practical application stood out to me, especially the opportunity to learn from clinical professors who bring current industry expertise into the classroom. This blend of academic excellence and real-world perspective provides the kind of preparation I'm seeking for a career in financial engineering. In addition, staying close to home in Illinois, allows me to pursue a top-tier program while remaining connected to my support system, creating an environment where I can thrive both academically and personally.
What was your favorite MSFE course and why?
My favorite course in the MSFE Program has been Financial Risk Management with Professor Neil Pearson. I particularly appreciated how the course combined rigorous theory with practical tools for measuring and managing financial risk. We covered topics such as value at risk, expected shortfall, and the use of derivatives for hedging, which gave me a deeper understanding of both the mathematical models and their applications in risk management. Professor Pearson's clear teaching style and ability to connect complex concepts to the broader context of financial markets, made the course especially engaging. Overall, it strengthened my quantitative foundation and solidified my interest in risk management as a critical area of finance.
What is your career goal after leaving our program?
After completing the MSFE Program, my immediate career goal is to grow in my role as a Quantitative Analyst within the development program at Bank of America. This position will allow me to apply the technical and analytical skills I developed in the program to real-world problems in risk management, modeling, and financial strategy. Over time, I hope to build deep expertise in quantitative modeling and contribute to developing innovative solutions that improve the bank's ability to measure and manage risk. Ultimately, my goal is to establish myself as a leader in the quantitative finance space, bridging rigorous technical approaches with the practical needs of the financial industry.
Winner: Chayapon Lee-Isranukul
Undergraduate Degree: Electrical and Electronics Engineering
Undergraduate Institution: University of Nottingham, UK
Why did you choose Illinois?
Among the various Financial Engineering programs available, Illinois stood out to me primarily because of its Practicum Project course. Few programs offer the chance to work on real-world quantitative finance projects in collaboration with industry partners. This demonstrated to me that the Illinois MSFE Program actively invests in building strong industry relationships, which, in-turn, enhances students' job placement prospects. In addition, the quality of teaching at Illinois is exceptional, based on the research I did prior to joining. The Program's unique structure - as a collaboration between the Gies College of Business and the Grainger College of Engineering - provides a broad range of electives, allowing students to tailor their learning to align with their individual career goals. Finally, Professor Liming Feng, MSFE Program Director, is deeply committed to the success of each student, which is evident in the support and guidance he consistently provides.
What was your favorite MSFE course and why?
My favorite course is the Practicum Project. Unlike a traditional course, it's a collaborative project where you work alongside a company representative and a team of classmates to solve a real-world problem. The Practicum gives you the change to apply the skills and knowledge you've developed, both before and during the program, to an industry-level challenge. What makes it my favorite is the freedom to experiment with ideas, receive feedback through weekly meetings with the company advisor, and continuously refine your work. It also offers a valuable opportunity to build meaningful connections with professionals in the industry and to strengthen your teamwork and communication skills - both of which are essential for success in any workplace.
What is your career goal after leaving our program?
My career goal is to become an options trader. While I deeply enjoy the theoretical aspects of options and the complexity of pricing algorithms, my true passion lies in applying that knowledge in the real world. Trading options presents a unique challenge. But, that's exactly what makes it so compelling. It's a career that offers endless room for creativity and the freedom to develop strategies that reflect your own market views and convictions.
Winner: Saurabh Jamadagni
Undergraduate Degree: Electronics and Communication Engineering
Undergraduate Institution: Indian Institute of Information Technology Pune
Why did you choose Illinois?
I chose Illinois MSFE because I was looking for a program that combined academic rigor with practical relevance, and it offered exactly that. UIUC's recognition as a Public Ivy added to its appeal, reflecting both prestige and quality. The campus offers a comfortable cost of living while being close to Chicago--one of the key hubs for quantitative finance. What stood out to me most was the blend of faculty with both academic and industry experience, which has allowed me to gain a holistic, deeply practical learning experience.
What was your favorite MSFE course and why?
One of my favorite courses was FIN 512 - Financial Derivatives, taught by Professor Martin Widdicks. He had a remarkable way of breaking down the Black-Scholes Theory into simple, digestible parts; making even the most complex concepts approachable. Watching the formulas come together at the end of each proof was genuinely enjoyable. What made the course especially impactful was its project-based structure. We worked on a valuation project that involved data collection, modeling and detailed report writing. While the process was challenging and initially overwhelming, it helped solidify the material in a practical and meaningful way. By the end of the course, reflecting on how much we had learned, step-by-step, was incredibly rewarding.
What is your career goal after leaving our program?
After completing the program, I am to pursue a career in quantitative trading/strategy as my primary focus. I'm also very interested in quantitative research and hope to contribute meaningfully by applying and refining the skills I've developed during the program to the best of my ability. Over the course of the program, I've grown a strong fascination for interpreting and working with data, and I'm excited to turn that curiosity into impactful insights and data-driven decisions in the industry.
Winner: Yixuan (Anna) Huo
Undergraduate Degree: Economics and Finance
Undergraduate Institution: Tsinghua University
Why did you choose Illinois?
I chose Illinois because of the MSFE Program's strong emphasis on practicality and technical skill development. The curriculum is closely tied to real-world financial applications, and the faculty bring deep industry insight into the classroom. The supportive environment created by both faculty and alumni, especially their commitment to student career growth, was another major factor in my decision.
What was your favorite MSFE course and why?
My favorite MSFE course was the Practicum. I spent the entire semester working on a project focused on pricing convertible bonds using numerical methods, machine learning and reinforcement learning. It gave me the opportunity to apply models on real-world data, which significantly improved my modeling skills. It also deepened my understanding of the gap that often exists between theoretical pricing and actual market prices.
What is your career goal after leaving our program?
After completing the MSFE Program, my goal is to work in the field of quantitative pricing and modeling.
Class of 2024 Award Winner
Winner: Kamin Atsavasirilert
Undergraduate Degree: Mechanical Engineering
Undergraduate Institution: Chulalongkorn University
Why did you choose Illinois?
UIUC has a very good reputation in both engineering and business schools. There are many well-integrated courses taught by prestigious professors and practitioners, which cannot be easily found at other schools. One of the key strengths of being an MSFE student at UIUC is the Practicum, which allows students to work closely with professionals from many prestigious firms. Before joining this program, I wanted to work with professionals at JP Morgan Chase. Now, I have had that opportunity! I have learned a lot of practical and advanced techniques from my practicum project. Additionally, in terms of cost effectiveness, MSFE at UIUC is the best and the program quality is one of the best, as well!
What was your favorite MSFE course and why?
My favorite course from MSFE at UIUC is Financial Risk Management, taught by Professor Neil Pearson. The course is very comprehensive and quantitatively practical. It is not only about risk management techniques but also about the practical applications that have been collected by Professor Pearson from his personal experience and numerous, successful UIUC Alumni from different professional areas. With his excellent teaching techniques, I was able to understand each one deeply, even without a background in Finance and Risk Management. This course is actually a perfect opportunity to directly study from the author of many legendary books.
What is your career goal after leaving the MS Financial Engineering Program?
My career goal is to utilize my analytical and research skills as a quantitative analyst or researcher in derivative trading, hedging or pricing arena. I want to work in the United States, as it is one of the best places to learn about financial markets. I intend to collect advanced experience and contribute to improving my home country of Thailand when I become an expert in the field.
Class of 2023 Award Winner
Winner: Sipeng Li
Undergraduate Degree: Bachelor of Arts, Economics
Undergraduate Institution: Wuhan University
Why did you choose Illinois?
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Close to Chicago.
- The celebrated Grainger College of Engineering.
- This program provides resources and opportunities from both Gies Business School and Grainger Engineering School, and many strong alumni are working in related industries, which will be helpful in job finding.
- The cost of living is relatively lower.
- UIUC is a world-famous public university with a very good reputation, and have cultivated a large number of outstanding alumni.
- Prefer Illinois campus culture.
What was your favorite MSFE course and why?
I think many courses are great and helpful. As for me, my favorite course is the Practicum I did this semester, because it allowed me to apply what we have learned in class to real-world problems. I have benefited a lot from both the hard skills, like coding, data analysis, fast-learning, problem-solving ability, and soft skills, like teamwork, presenting work result and communicating, that I have accumulated during this practicum. Other courses like Statistical Methods in Finance, Financial Computing, Financial Risk Management, Financial Derivatives, are all very extremely good courses.
What is your career goal after leaving our program?
I’m still trying, exploring and looking for the career path that suits me well. I will always do as best as I can at every stage of my life.