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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.

To keep up-to-date with all the latest developments in the Applied Probability Society community, INFORMS members should make sure to subscribe for real-time or digest correspondence through INFORMS Connect. For INFORMS members outside of the Society or for community members outside of INFORMS who would like to receive updates as well, register here to receive select Applied Probability Society communication directly.

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Jobs of Interest to APS

  • Naperville, Illinois, The City of Naperville seeks a professional possessing three or more years’ experience leading technical projects to become Project Manager for the City’s publicly-owned Electric Utility, focusing on projects related mostly to Utility assets.   Reporting to the Utility’s Asset Manager, this newly created position will successfully manage various projects for the Electric Utility with an emphasis on the migration and usage of asset information from various sources into a single software system – Cityworks - and organizing all available data to produce organized, actionable data to Utility management.  Applying Utility leadership’s direction, the Project Manager will define project requirements, lead project teams to meet those requirements, and bring projects to a close per time and budget constraints.   The Electric Utility As a public utility owned by the customers it serves, Naperville’s electric utility has proudly served the community for 120 years.  Bringing power to 60,000 customers each month, the utility provides reliable, quality, responsive and cost-efficient services in support of the health, welfare & growth of the City.  This is achieved principally by effective operation, maintenance and replacement activities; a well-planned and executed capital improvement program; an active employee safety and training program; and continuous public information.  Locally controlled and managed, the Naperville Electric Utility provides rates that are among the lowest in the state.  Other benefits of local management include greater reliability, efficiency and quicker responsiveness to customer concerns.   Naperville is the 4th largest city in Illinois.  Its electric utility maintains 16 substations, 60 miles of transmission and 1000 miles of distribution lines (of which 93% are underground), and has a 350 MW peak demand / 1,400,000 MWh annually.  A decade ago, Naperville modernized its electric grid via the installation of 60,000 smart-meters and a wireless & fiber-optic backbone.  This City-wide Smart Grid allows the utility to better analyze electricity consumption and offer an energy portal to its electric customers. The electric utility further deployed conservation voltage reduction tools and other advanced automation equipment integrated with SCADA.   The Electric Utility now seeks to expand the City’s deployment of “Cityworks” as its software for all service requests, work orders, asset management and warehousing, to effectively end paper trails and streamline workflows.  Cityworks functions as a centralized application that connects with GIS maps to help identify, track and manage assets and the work & materials required to maintain and support them. Responsibilities: This position initially will focus on the migration of Utility management processes from legacy computing structures/systems to the Cityworks software environment utilized City-wide.  The Project Manager – Cityworks (PM) will manage the transition of work order processing and accounting for labor & material used from Sungard Naviline software to Cityworks.  The PM will define and manage interim processes utilized by the Utility while the City’s contractor implements stages of modifications to Cityworks.    The Cityworks Project Manager defines needed changes in Utility processes to better utilize the Cityworks platform, and manages the Utility’s transition to new processes per Utility management direction.  The PM oversees and coordinates all City and contractor activities needed to migrate Utility data from Sungard Naviline (and from inhouse MS Access databases & MS Excel spreadsheets) to Cityworks so as to arrive at a single data source for Utility assets.  The PM also assists transition management of the Utility’s warehouse to Cityworks Storeroom.    Primary duties include: Coordinating with other departments on Electric Utility Cityworks usage to ensure compatible functionality for service requests, work orders and reporting.  Managing the process to integrate Electric Utility activities in Cityworks with the City’s Tyler Munis financial system.  Managing processes to define and implement required reporting from Cityworks to meet Electric Utility needs. Managing projects for the Electric Utility’s records retention process, external billing process, and document scanning & storage process.  Directing related activities of support personnel for these tasks. Providing reporting on capital projects to management as requested. Managing training of departmental personnel on Cityworks (and related) software/process as needed. Planning & executing Electric Utility projects: defining projects, building comprehensive work plans, and managing them to related budgets and timelines. Facilitating project teams’ accomplishment of defined goals.  Facilitating commitment and productivity from staff & project team members.  Mitigating obstacles, and (with the support Utility management) motivating team members. Managing expectations by aligning projects to business goals and effectively communicating project status & milestones (and unexpected difficulties) to stakeholders. Coordinating project work performed by contractors, ensuring conformance to project specifications, budgets and timelines as assigned.  Coordinating vendor communications with internal team members.  As a professional manager of projects, the incumbent successfully engages other Utility staff members, staff from other City Departments, and/or vendor/contractor personnel in order to accomplish assigned project requirements (or pieces thereof); applies knowledge, skills, tools & techniques to Electric Utility project activities in order to meet project requirements; plans, executes and completes utility projects; defines the project, builds a comprehensive work plan, and manages to the budget; and is accountable for the success or failure of projects.  He/she directs project teams to meet defined goals; facilitates commitment and productivity from staff and project team members; mitigates obstacles and motivates team members; and manages expectations by aligning projects to business goals, managing stakeholders, and communicating project status, milestones (and unexpected difficulties) effectively. Qualifications: At a minimum, applicants must possess: A bachelor’s degree in a related field (engineering preferred) Three years’ related experience (leading and/or directing projects, or similar).  Professional project management certification may be substituted for some of the required education and/or experience. Project management knowledge and previous PMBOK-related training, and A valid State of Illinois Driver’s License Preferred credentials include previous experience working for an electric utility, and/or PMP certification.   Top candidates will possess knowledge of procedures and practices related to asset management within an electric utility; currently relevant technology & software, such as AutoCAD, GIS and other department-specific technology (e.g., CitiWorks, Microsoft Office applications (Word, Excel, PowerPoint, Access and Outlook) including relational data bases (MS SQL Server) and Microsoft Project). Knowledge and experience with Sungard Naviline and/or Tyler Munis financial systems a plus.   They will also be able to demonstrate strong analytical skills, written & verbal communication skills, problem-solving skills, and will be able to apply a substantial project management skill set.  They will possess proven abilities to establish & maintain effective working relationships; to communicate clearly and concisely (verbally and in writing) with technical and non-technical audiences; to maintain focus in a fast-paced, multitasking environment and manage time effectively; and a desire to learn new position-related skills in a diverse, frequently changing environment. Additional Information: The City of Naperville, Illinois is a dynamic community of 148,000 residents, conveniently located 28 miles west of Chicago.  Various publications have named Naperville as one of the best cities in the United States in which to live.  The City has gained national recognition for our family-friendly environment, excellent schools and library system, low crime rate, and vibrant downtown area.  It’s also a great place to work!  Our municipal government employs over 900 dedicated individuals in a wide range of job categories and provides a dynamic & collaborative working environment, a forward-looking leadership team, and a competitive benefits package.   APPLY ON-LINE AT: www.naperville.il.us/careers   THE CITY OF NAPERVILLE IS AN E. O. E. CLICK HERE for the City of Naperville’s EEOP Utilization Report   The City of Naperville complies with the Americans with Disabilities Act (ADA). Individuals needing accommodations in the recruitment process should notify Human Resources in advance at (630) 305-7066. Commensurate with relevant experience
  • Plymouth, Minnesota, Want to build a stronger, more sustainable future and cultivate your career? Join Cargill's global team of 160,000 employees who use new technologies, dynamic insights and over 154 years of experience to connect farmers with markets, customers with ingredients, and people and animals with the food they need to thrive.   Job Purpose and Impact The Operations Research Engineer will facilitate direct discussions with client subject matter experts, operations teams, and other operations research engineers to understand facility and process questions regarding material flow, personnel flow, utilization, space constraints, and bottlenecks. In this role, you will develop and implement simulation and optimization models designed to answer questions on making our manufacturing and supply chains more effective. You will be collaborating on project planning, model development and validation, deployment and long term support of the solutions. Key Accountabilities Develop and deploy simulation and optimization models to drive strategic and tactical decisions. Apply various modeling techniques to generate solutions to problems such as resource planning, scheduling, facility location, portfolio optimization, supply chain management, pricing and revenue optimization. Lead projects and coordinate tasks with other project team members. Work collaboratively with internal business stakeholders and project managers to transform and visualize the data and model results. Summarize and present validated results and actionable recommendations. Other duties as assigned Independently solve moderately complex issues with minimal supervision, while escalating more complex issues to appropriate staff. Qualifications MINIMUM REQUIRED Bachelor’s degree in a related field or equivalent experience Experience with email, spreadsheet and word processing applications Knowledge of object oriented programming frameworks Knowledge of operations research modelling or simulation models Minimum of two years of related work experience PREFERRED Master's degree in operations research, industrial engineering, applied mathematics, statistics, computer science or related field Knowledge of developing simulation and optimization models leveraging at least one of the various related commercial software tools Knowledge of lean principles and methods to develop standardized model and data frameworks Experience utilizing advanced knowledge to develop models in one or more of the following fields: discrete event simulation, discrete optimization, integer programming, dynamic programming, heuristics, genetic algorithms or other metaheuristics Equal Opportunity Employer, including Disability/Vet.
  • Plymouth, Minnesota, Want to build a stronger, more sustainable future and cultivate your career? Join Cargill's global team of 160,000 employees who use new technologies, dynamic insights and over 154 years of experience to connect farmers with markets, customers with ingredients, and people and animals with the food they need to thrive. Job Purpose and Impact Sr. Operations Research Engineer will lead discussions with client domain experts, operations teams and other operations research engineers to gain direct insight on complex facility and process questions regarding material flow, personnel flow, utilization, space constraints and bottlenecks. In this role, you will develop and implement complex simulation and optimization models designed to answer questions on making our manufacturing and supply chains more effective. You will be responsible for complex project planning, model development and validation, deployment, and long term support of the solutions.   Key Accountabilities Develop, validate and deploy complex simulation and optimization models to drive strategic and tactical decisions. Apply various modeling techniques to generate solutions to complex business problems such as resource planning, production planning, scheduling, facility location, portfolio optimization, supply chain management, pricing and revenue optimization. Partner collaboratively with internal business stakeholders and project managers to transform business requirements into a business solution. Compile simulation data, assumptions, calculations and results to provide insight to leadership using model results and reports. Develop innovative, repeatable, business use cases, and quickly develop prototypes to test these use cases. Develop a library of standard modeling elements for ease of use in future models. Independently handle complex issues with minimal supervision, while escalating only the most complex issues to appropriate staff. Other duties as assigned Qualifications MINIMUM QUALIFICATIONS Bachelor’s degree in a related field or equivalent experience Proficiency in object-oriented programming frameworks Experience with email, spreadsheet and word processing applications Experience developing simulation and optimization models leveraging at least one of the various related commercial software tools Experience utilizing advanced knowledge to develop models in one or more of the following fields: discrete event simulation, discrete optimization, integer programming, dynamic programming, heuristics, genetic algorithms, or other metaheuristics Minimum of four years of related work experience PREFERRED QUALIFICATIONS Master's degree in operations research, industrial engineering, applied mathematics, statistics, computer science or related field Experience in commercial optimization solvers Experience applying lean principles and methods to develop standardized model and data frameworks in order to identify best practices in model development Equal Opportunity Employer, including Disability/Vet.  
  • Kowloon, Hong Kong, China, City University of Hong Kong (CityU) is one of the world’s leading universities, known for innovation, creativity and research.  We are now seeking exceptional scholars to join us as Assistant Professors/Associate Professors/Professors/Chair Professors (on substantiation-track) in all academic fields with special focuses on One Health, Digital Society, Smart City, Matter, Brain, and related interdisciplinary areas.  Research fields of particular interest include, but not limited to: •    biomedical science and engineering •    computer science and data science •    neuroscience and neural engineering •    bio-statistics and AI-healthcare •    smart/semi-conductor manufacturing •    AI/robotics/autonomous systems •    aerospace and microelectronics engineering •    energy generation and storage •    digital business and innovation management •    fintech and business analytics •    computational social sciences •    digital humanities •    digital and new media •    law and technology •    private law •    healthy, smart and sustainable cities Successful candidates should have a demonstrated ability to build a world-class research programme related to CityU’s strategic research areas, plus a commitment to education and student mentorship.  Candidates must possess a doctorate in their respective field by the time of appointment. Applications and nominations are invited for : Chair Professor/Professor/Associate Professor/Assistant Professor in the Department of Advanced Design and Systems Engineering [Ref. A/508/09] The Department of Advanced Design and Systems Engineering (ADSE) aspires to be a centre of excellence in research and education in intelligent manufacturing and systems engineering.  According to a recent study by Stanford University, six of our faculty members were among the top 2% of most highly-cited scientists of the world, reflecting the high academic standard of our faculty and our excellent research performance. ADSE is looking for talents in all areas related to smart manufacturing and systems engineering, including semiconductor manufacturing, digital manufacturing, 3D/4D additive manufacturing, industrial internet of things, cyber-physical systems, automation/robotics, operations research, stochastic optimization, reliability and quality, and related disciplines.  We are particularly interested in individuals who develop new and creative approaches based on operations research, artificial intelligence, machine/deep learning or similar methodologies, to improve the design and performance of future manufacturing systems. Duties:   Teach undergraduate and postgraduate courses, supervise students and undertake scholarly activities (including course development/revamping).  The appointees will also be assigned to take up administrative duties to facilitate the development of the Department, the College and the University. Requirements:   A PhD in smart manufacturing, systems engineering or related areas with an excellent research record and strong teaching ability.  Good academic credentials and excellent communication skills are required. Salary and Conditions of Service   Remuneration package will be driven by market competitiveness and individual performance.  Excellent fringe benefits include gratuity, leave, medical and dental schemes, and relocation assistance (where applicable).  Initial appointment will be made on a fixed-term contract. Information and Application Further information on the posts and the University is available at http://www.cityu.edu.hk, or from the Department of Advanced Design and Systems Engineering, City University of Hong Kong, Tat Chee Avenue, Kowloon Tong, Hong Kong (email : sesearch@cityu.edu.hk).  To apply, please submit your curriculum vitae through the website: https://www.cityu.edu.hk/provost/global-recruiting/.  Nominations can be sent directly to the Department (email: sesearch@cityu.edu.hk).   Applications and nominations will be considered until the positions are filled.  Only shortlisted applicants will be contacted; and those shortlisted for the post of Assistant Professor will be requested to arrange for at least 3 reference reports sent directly by the referees to the Department, specifying the position applied for.  The University's privacy policy is available on the homepage. City University of Hong Kong is an equal opportunity employer.  We are committed to the principle of diversity. Personal data provided by applicants will be used for recruitment and other employment-related purposes. Worldwide recognition ranking #48, and #4 among top 50 universities under age 50 (QS survey 2021); #1 in the World’s Most International Universities (THE survey 2020); #1 in Engineering/Technology/Computer Sciences in Hong Kong (ARWU survey 2016); and #1 Business School in Asia-Pacific region (UT Dallas survey 2019).
  • 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

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