The Applied Probability Society is a subdivision of the Institute for Operations Research and the Management Sciences (INFORMS). The Society is concerned with the application of probability theory to systems that involve random phenomena, for example, manufacturing, communication network, computer network, service, and financial systems. The Society promotes the development and use of methods for the improvement of evaluation, control, and design of these systems. Such methods include (stochastic) dynamic programming, queueing theory, Markov decision process, discrete event dynamic systems, point processes, large deviations, reliability, and so on. Our members include practitioners, educators, and researchers with backgrounds in business, engineering, statistics, mathematics, economics, computer science, and other applied sciences.

The Applied Probability Society also publishes Stochastic Systems. This open-access journal seeks to publish high-quality papers that substantively contribute to the modeling, analysis, and control of stochastic systems. The contribution may lie in the formulation of new mathematical models, in the development of new mathematical methods, or in the innovative application of existing methods. A partial list of applications domains that are germane to this journal include: service operations; logistics, transportation, and communications networks (including the Internet); computer systems; finance and risk management; manufacturing operations and supply chains; and revenue management.

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Jobs of Interest to APS

  • Columbus, Ohio, American Municipal Power, Inc. (AMP) is a nonprofit wholesale power supplier and services provider for 135 members in nine states.  The mission of AMP is “to serve Members through public power joint action, innovative solutions, robust advocacy and cost-effective management of power supply and energy services.” Vice President, Finance Job Description: Reporting to the AMP Senior Vice President Finance & Chief Financial Officer, this seasoned finance executive will assist in cultivating enhanced accountability, transparency, and integrity of financial information, establishing sound financial policies and best practices, and instilling a culture of continuous improvement. The successful candidate envisioned for the role will have a minimum of 5-10 years of relevant financial leadership expertise, ideally within the municipal securities market in the energy industry. The VP Finance, will support the execution of: Project financing strategies – provide best practices in debt issuance and debt administration while accurately and expeditiously communicating changes in project participants’ credit quality. Strengthening member engagement - provide value-added member financial services; monitor issuer ratings, key pricing indices, and municipal benchmarks; and ensure overall compliance with debt management strategies. Debt management - establish acceptable policy limits, structure & issuance practices, and general management practices. Responsibilities include: Assist in the maintenance of strong relationships with rating agencies, investment banks, and bank syndicate members to ensure cost-effective access to liquidity and capital markets. Collaborate with members of the finance team, AMP counsel, outside legal counsel and financial advisor to facilitate all aspects of debt issuance, including refunding analysis, proposal review, method of sale analysis, transaction team coordination, structuring considerations, legal document review, pre-closing and closing participation, monitoring of bond markets, pricing negotiations, call option analysis, refunding analysis, and payment of related issuance expenses. Ensure ongoing issuance management, document retention, post-issuance compliance and overall compliance with IRS, SEC, Dodd-Frank, and MSRB regulations, and the terms and conditions of master trust indentures, supplemental trust agreements, tender dates, bank financial covenants, swap agreements, loan agreements, and the revolving line of credit agreement. Partner with outside engineering firms, financial advisors, investment bankers, underwriters, bond trustee, tax and bond counsel in the preparation of feasibility studies, official statements, investment strategies, access to federal subsidies, arbitrage compliance oversight, and voluntary disclosures. Prepare and maintain debt service schedules, monitor debt service reserve funds, rate covenants, additional bonds test, tax exempt status, and overall management of taxable and tax-exempt bond obligations. Collaborate with municipal electric administrators (including fiscal officers and advisors), governing bodies and outside consultants in member communities to provide guidance and advice on rate structures, cost of service studies, and project financing options. Required Work Experience, Personal Attributes, and Education: Strong analytical skills and knowledge - of municipal markets, GAAP, FERC and GASB preferred, with exceptional problem analysis and resolution skills at both a strategic and functional level. Demonstrated experience analyzing key credit elements and the ability to proactively identify and communicate both positive and negative financial trends. Leverage system capabilities - understands and navigates financial systems to extract relevant information; assesses and monitors technology risks and associated issues with automated vs. manual business processes; determines the sufficiency of existing technology and drives new technology initiatives to meet business requirements and add value to the financial operations of the company. Experience with ERP systems, financial modeling, budgets, financial analysis and reporting. Continuous Improvement - ability to evaluate a business situation and generate ideas for solutions; analyzes the potential effect or impact of each solution; selects appropriate solutions. Collaborative and strategic thinker - who has a strong financial leadership perspective and is an action-oriented individual who fosters open, honest, and timely two-way communications. Displays an innovative approach that shows respect for others and increases value to members. Member Focus – able to foster and maintain positive relationships with AMP members and advisors. Bachelor’s degree required with CPA and/or MBA preferred.      Please send a current resume or curriculum vitae to indicate your interest in being considered for this position. Your indication of interest will be kept strictly confidential and will not be known beyond the search committee and the executive search firm.   AA/EEO Application deadline : Wednesday, June 30, 2021 Apply to : AMPVPFinance@heidrick.com
  • Tucson, Arizona, Operations Research Engineer II The Applied Sciences department designs and develops real-time optimization engines for automated and manned systems across the mining value stream with special focus on load & haul operation. In addition, it researches and develops predictive models based on data analytics on the cloud and on the edge. The Applied Sciences department is looking for an Operations Research Engineer to design and develop flexible and scalable solutions for some of the most complex challenges in large-scale computing by utilizing skills in optimization models, algorithm design, and object-oriented programming.   The Company Modular Mining Systems is the global leader in mine management technology and a wholly owned subsidiary of Komatsu Ltd. Our innovative technology powers mine operations in every corner of the globe. The products we cultivate, the solutions we engineer and the service we deliver set us apart in the Mining Technology industry. We’re more than a company, we’re a community of passionate, creative professionals striving toward a shared vision: to revolutionize the way the mining industry operates.   With a presence stretching from Johannesburg to Vancouver, Sydney to Lima, you are part of a global brand that supports creativity, fosters innovation and encourages you to think big, share ideas and be yourself.    DISPATCH Fleet Management System Introduced 40 years ago as mining’s first-ever computer-based dispatching tool, the DISPATCH Fleet Management System has revolutionized the way mines work in real-time. Today, it is the most trusted FMS in the mining industry. The system leverages three mathematical programming models – Linear Programming (LP), Dynamic Programming (DP), and Best Path (BP) — to maximize your overall truck productivity by maintaining and updating a real-time model of the mine equipment, locations, and haulage roads. The system continuously calculates optimized truck assignments and sends them to truck operators automatically.   The Autonomous Haulage System (AHS) The Autonomous Haulage System (AHS) is a comprehensive fleet management system for mines. The autonomous haul truck, jointly developed by Komatsu Ltd., Komatsu America Corp. and Modular Mining, is centrally controlled through a wireless network that integrates: On-board vehicle controllers High-precision global positioning Obstacle detection and avoidance systems. The system has full supervisory logic that utilizes complex data fusion to control the dump truck to safely operate through a load, haul and dump cycle and allow integration with other mine vehicles such as light vehicles, dozers, loaders, and graders.     Job Description Develop and implement solution to optimize and automate business decisions using large data sets and algorithms. Design and develop optimization models and algorithms with and without commercial solvers following established software development practices and processes. Study requirements, clarify customer/user needs, analyze data and processes Develop proof of concepts for technical evaluation and early customer feedback Update and shares knowledge by studying professional publications, state-of-the-art algorithms, programming techniques, and computing technology.   What are the benefits of being a part of Modular Mining? We believe strongly in a healthy work/life balance and we love to brag about all the great things are members enjoy; like comprehensive health and benefit packages, tuition reimbursement, RRSP contributions with company match, flexible scheduling options and, of course, an excellent vacation policy. We are a global organization with a reputation for having premier people building premier products, we offer competitive compensation packages and a culture that thrives off creativity, collaboration and teamwork.   Mine Smarter.   Required Skills PhD. in Operations Research, Industrial Engineering, or related with 2+ years’ experience or M.Sc. in Operations Research, Industrial Engineering, or related with 4+ years’ experience   Experience in designing, implementing, and testing analytic and/or algorithmic solutions to business or operational problems Background in design and development discrete, nonlinear, or stochastic mathematical optimization models and combinatorial optimization algorithms Experience in decomposition approaches to solving large-scale optimization problems Experience with optimization modeling languages (e.g., Pyomo, GAMS) and solvers (e.g., Gurobi, CPLEX) Expert in at least one major object-oriented programming language (C/C++, C#, Java, Kotlin, or Python) Understanding of data structures, algorithm design, problem solving, and complexity analysis Other Skills Knowledge in statistics and data science models (K-means, random Forrest, neural nets etc.) Familiar with data modelling, SQL, frameworks and tools such as Databricks/Spark, Postgresql, RabbitMQ, Kafka, Kubernetes Outstanding interpersonal and communication skills Experience with Agile methodologies  
  • New York, New York, Position Summary: The Analyst Summer Internship is an  intensive 40-weeks program  within the Trading and Strategy Investments team who is responsible for a variety of strategic investment strategies with a focus on a disciplined return on investment methodology. The Intern will gain valuable experience in  market and economic   data sourcing,  large data analysis and synthesizing investment information with key focuses related to portfolio construction and theoretical application of investment ideas to implementation and trading on those investments. All while learning about insurance asset manager and the industry, company and their financial, economic market analysis; whilst supporting and developing investment trends and economic infrastructure. Strong emphasis on U.S. and introduction to Japan capturing a variety of institutional and industry specific  concepts to help inform investment professionals.  The Intern will benefit from  exposure to IFG CORPORATE ACCOUNTING SERVICES platform  with emphasis on macro-economic data used across portfolio with an emphasis on fixed income, understanding investment risk management and economic undercurrent, and leading up to how data is assembled and presented to key stake holders. The Intern will  interact with Senior Management  and will present their analytical project(s) to an audience of key stakeholders including other investment professionals, analysts, traders, portfolio managers, and Senior Management. Responsibilities: Our summer interns participate in a series of activities that provide the opportunity to learn about all areas of the firm, as well as on-the-job training in portfolio analytics and surveillance. The intern will be assigned projects in support of current business needs including research and analyst responsibilities within the credit portfolio for the full 10 week period. Communicate regularly with all aspects of an insurance asset manager with emphasis on relevant news, regularity of information, interpretation of information, data analytics and the potential risks, while developing methodology for presenting ideas in a thoughtful manner. Learn how to research and correlate investment ideas and supporting analytics to develop an assessment within defined data sets, industry analysis; along with identifying key trends and movement within financial markets. Create and maintain large data sets, while identifying key trends and statistical information to guide stakeholders in aiding in investment decisions. Participate in the design and implementation of investment analytics pertaining to the assessment and management of the company’s investment strategies and risks, including but not limited to stochastic financial projections, understanding tail event stress testing, regulatory capital modeling, portfolio optimization, performance attribution, along with developing asset understanding in foreign exchange and derivatives. Opportunity to significantly contribute to and influence the development of the company’s next-generation investment platform. Interact collegially and professionally with other members of the trading and quantitative, strategy, and research groups as well as well as other departments such as Credit, Portfolio, External Management, Enterprise-Wide Risk Management, Accounting, Actuarial, Tax, IT, HR, etc. Write industry reports as needed. Participate company /department wide meetings throughout the summer. Compile and maintain company and industry relative value analysis. Written and verbal presentations to assorted stakeholders Qualifications: We seek highly motivated student whoa re eager and willing to learn and have a strong interest in investments, finance, asset management, economics, insurance, and our company. Additional qualifications include: GPA of 3.5 or above preferred Degree Focus: Finance, Statistics, Economics, Data Analytics, or similar degree programs. Excellent analytical, quantitative, and problem solving skills Strong verbal and written communication skills Demonstrated leadership, interpersonal, and relationship management skills Basic understanding of financial statements Intermediate to advanced proficiency with MS Excel, Word, and PowerPoint. The above salary is monthly.
  • Chattanooga, Tennessee, About the Position The Data Scientist I will be involved in advanced supply chain analytics covering both deterministic and stochastic modeling, optimization, and analysis.  The position will take business questions, develop model frameworks, identify data sources, extract data, perform quantitative analysis through the model and then develop and communicate insights and/or solution recommendations.  The position should be able to incorporate Artificial Intelligence and Machine Learning to develop Predictive and Prescriptive Analytic models for enhanced decision support. Functions Work with key distribution, transportation, and material handling business managers to identify improvement opportunities through use of advanced data analytics, and develop decision support models for enhanced decision making Provide full-stack data scientist service: the position takes business questions, develops model frameworks, identifies data sources, extracts data, performs quantitative analysis through the model and then develops and communicates insights and/or solution recommendations Incorporate Artificial Intelligence and Machine Learning to develop Predictive and Prescriptive Analytics models for enhanced decision support Support and enhance existing analytics, optimization, and simulation modeling capabilities Routinely perform analysis and make presentations to key business stakeholders, including customers. This position supports the Kenco Operating System (KOS) model of cultural transformation through the integration of operational excellence principles across the enterprise Qualifications Master’s degree in Engineering, Operations Research, Statistics, Computer Science, or related field required. PhD preferred. Minimum of 2 years of experience in Data Science in a business environment required Strong Python skills and experience with using Python to develop Machine Learning and Artificial Intelligence models Ability to write clean and concise code, especially in R or Python Passion to learn new techniques in the space of Machine Learning and Artificial Intelligence Experience using SQL Server, Amazon S3, and Sage Maker Knowledge of a variety of machine learning techniques and their real-world advantages/drawbacks Knowledge of advanced statistical techniques and concepts and experience with applications Keen eye for detail and thoughtful investigation of data before relying upon it Excellent quantitative modeling, statistical analysis, and problem-solving skills Advanced user of statistical and computer science methods and tools Demonstrated record of dealing with ambiguity and delivering results in a dynamic business environment Preferred: Experience with deploying models on AWS Preferred: Experience in using dashboarding/visualization tools like Qlik or Tableau Competencies Business Acumen - Knowledgeable in current and possible future policies, practices, trends, technology, and information affecting his/her business and organization. Communicate for Impact - Proactively communicate with all stakeholders throughout the life cycle of programs and projects. Influencing Others - Can quickly find common ground and can solve problems for the good of the organization with a minimal amount of noise. Authentically gains trust and support of peers. Managing Transitions/ Change Management - Effectively plans, manages and communicates changes in processes with appropriate stakeholders. Strategic Agility - Enable Kenco to remain competitive by adjusting and adapting to innovative ideas necessary to support Kenco’s long-term organizational strategy. Travel Requirements This position is expected to travel approximately 25% or less.

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