Risk Management, PRMIA

"Doriana is absolutely first-rate in quality of mind, dedication to the subject, and delivering on performance," said Dr. Merton. "She exemplifies well the quality expected of someone receiving a grant as a consequence of the PRMIA Higher Standard Award."

Ms. Ruffino's research employs continuous-time finance theory in the study of optimal risk management, both at the level of financial firms and at the level of households finance. In the context of the risk management techniques utilized by financial firms, she has authored an article that responds to recent commentaries suggesting that dynamic hedging is an inadequate description of real-world practices.

Her most current research is on optimal household decisions over the life-cycle. The model that she has been developing over the past few months will be part of her dissertation proposal and it is entitled "Career Risk Management: The Optimal Exercise of Life-Cycle Options (with Jonathan Treussard)."

"I am truly honored to have received this award and to have the opportunity to conduct academic research in line with PRMIA's primary objectives," said Ms. Ruffino. "Needless to say, this does and will motivate me even further to pursue higher standards in my research."

The PRMIA Higher Standard award is granted to individuals who have significantly impacted the global practice of risk management, provided a substantial contribution to the Mission of PRMIA and its members, and who show an ongoing commitment to the highest standards of the profession.