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  2. PhD Position in Machine Learning for Digital Finance

PhD Position in Machine Learning for Digital Finance

We are looking for a highly motivated and creative Ph.D. candidate interested in developing and applying machine learning models for digital finance.

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Key takeaways

  • Hours
    38 - 40 hr.
  • Salary indication
    Salary gross/monthly
    based on full-time
    € 2,770 - € 3,539
  • Deadline
    31 Jul 2024

You will be a member of the MSCA Industrial Doctoral Network on Digital Finance, a European Research and Training programme with several leading European universities and companies involved, such as the European Central Bank (ECB) and the Bank for International Settlements (BIS), where you will spend at least 18 months in total.

In your project, you will do research on and apply machine learning techniques to make a real-world impact in academia and at financial institutions. A potential research topic is the design of an intelligent search bot that maximises AI technologies to improve the accessibility and user experience of public data portals. Further research will focus on ML techniques and NLP to improve supervisory technology (Suptech) methods. Both topics are relevant and of interest to the ECB and BIS, e.g. as part of their tool Olympus, that provides support in various areas, such as advanced analytics, process automation and digital collaboration.

You will join the Industrial Engineering and Business Information Systems (IEBIS) section of the High-tech Business & Entrepreneurship Department (HBE) at the Faculty of Behavioral Management and Social Sciences (BMS).

Background

This Ph.D. position is one four positions at the University of Twente (UT) and one of 19 positions in the context of the international Marie Sk?odowska-Curie Actions project DIGITAL. Information about all other positions is available at EURAXESS, if you are interested in any of the other positions as well, clearly state that in your cover letter.

DIGITAL' main goal is to significantly advance the methodologies and business models for Digital Finance through five interconnected research objectives:

1.                  Towards a European financial data space

2.                  Artificial intelligence for financial markets

3.                  Towards explainable and fair AI-generated decisions

4.                  Driving digital innovations with Blockchain applications

5.                  Sustainability of Digital Finance

Those are all key strategic priorities of the European Commission over the next five years.

The challenge

A competitive European financial sector is vital for the modernization of the European economy across sectors and to turn Europe into a global digital player.

Are you prepared to reshape the financial sector by doing research on those topics? If this resonates with you, this position could be your ideal opportunity!

Your profile

You are a highly motivated, enthusiastic researcher who is driven by curiosity and has:

Skills and Prerequisites:

  • Master’s degree or equivalent experience in Business, Economics, Engineering, Information Technology, Mathematics, Computational Science or related fields;
  • A strong passion and outstanding skills in data science and experience working with Python;
  • Knowledge of quantitative modeling of financial markets, econometric techniques, machine learning, or quantitative empirical research methods;
  • The ability to work on real-world problems in an interdisciplinary and internationally oriented environment;
  • Good communication skills and an excellent command of English;
  • Knowledge and experience with ML design and implementation, working with multiple libraries/platforms (e.g., Pandas, Sklearn, Conda, Github, etc.). Experience with natural language processing, especially LLM is a plus;
  • Strong mathematical background, in particular statistics & probability, linear algebra, calculus and optimization;
  • Interest in practical applications of ML and AI, with attention to aspects such as explainability, ethics, and honest usage of customer data;
  • Familiarity with international organizations and banking regulations is a plus.

The researcher working on this project will be a member of the coordinator team and the doctoral training team, thus contribution to coordination (research, technical, or financial) and other activities of the MSCA Doctoral Network is a substantial element of the candidate's work and professional development plan. The Ph.D. development includes a large number of aspects, from scientific publications, building industry prototypes, communication and dissemination activities, public outreach to longer-term impact and results

We further emphasize that all Ph.D. candidates in DIGITAL will collaborate, therefore involvement and contribution to the topics and activities of DIGITAL is an important element of this position.

Interested and motivated candidates are encouraged to apply, even when they do not yet possess all desired skills. Through dedicated learning and doctoral training, you will be able to develop relevant skills on the job.

Our offer

We encourage high responsibility and independence while collaborating with colleagues, researchers, other university staff and partners. We follow the terms of employment by the Dutch Collective Labour Agreement for Universities (CAO). Our offer contains: a full-time 4-year doctoral position with a qualifier within 12 months; excellent mentorship in a stimulating research environment with excellent facilities; and a personal development program within this European network. It also includes:

  • Gross monthly salary of € 2.770 in the first year, increasing each year up to € 3.539 in the fourth year;
  • Excellent benefits including a holiday allowance of 8% of the gross annual salary, an end-of-year bonus of 8.3%, and a solid pension scheme;
  • 29 holidays per year in case of full-time employment;
  • A training programme as part of the Twente Graduate School where you and your supervisors will determine a plan for a suitable education and supervision;
  • A green campus with free access to sports facilities and an international scientific community;
  • A family-friendly institution that offers parental leave (both paid and unpaid);
  • A full status as an employee at the UT, including pension, health care benefits, and good secondary conditions are part of our collective labor agreement CAO-NU for Dutch universities.

Secondments at Industry, the Bank for International Settlements and the European Central Bank

This position includes several research stays at industrial partners. Placements will likely include 11 months at the BIS and 12 months at the European Central Bank (nationality restrictions apply). During those secondments, you will gain hands-on experience on industry-relevant research projects related to applications of AI in finance. The details of the secondments can change in terms of durations as well as companies. Compliance with the European mobility rule for MSCA positions is required, please check carefully before applying.

Information and application

Are you interested to be part of our team? Please upload your application before July 31, 2024 and include:

Additional information can be acquired directly from dr. Joerg R. Osterrieder, dr. Marcos R. Machado, dr. Wouter van Heeswijk or via email: msca-digitalfinance@utwente.nl.

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About the department

The HBE cluster is dedicated to encouraging a supportive and inclusive working culture. Our aim is that all job applicants are given equal opportunities. When we select candidates for employment, it will be on the basis of their competence and ability. To support workforce diversity, we are open to offering flexible working conditions on an individual basis to support work-life balance, which may include contract of employment, working hours and location, or childcare arrangements.

Please have a look at this video to learn about our wider HBE department: The High Business Entrepreneurship corporate video can be watched via this link

About the organisation

The Faculty of Behavioral, Management and Social sciences (BMS) aims to play a key role in understanding, jointly developing and evaluating innovations in society. Technological developments are the engine of innovation. As a technical university that puts people first, we tailor them to human needs and behavior and use social engineering to integrate them into society. We also ensure adequate governance at public and private level, and robust, inclusive and fair organizational structures. We do this by developing, sharing and applying high-quality knowledge in Psychology, Business Administration, Public Administration, Communication Sciences, Philosophy, Educational Sciences and Health Sciences. Our research and education in these disciplines revolves around tackling and solving societal challenges. The research programs of BMS are closely linked to the research of the UT institutes Mesa+ Institute for Nanotechnology, TechMed Center and Digital Society Institute.

As an employer, the Faculty of BMS offers work that matters. We equip you to create new possibilities for yourself and for our society. With us, you will become part of a leading technical university with increasing, positive social impact. We offer an open, inclusive and entrepreneurial atmosphere, in which we encourage you to make healthy choices, for example through our flexible, adaptable benefits.

Want to know more?

Osterrieder, J.R.O. (Jörg)

Osterrieder, J.R.O. (Jörg)
Associate Professor of Artificial Intelligence and Finance

Osterrieder, J.R.O. (Jörg)
Associate Professor of Artificial Intelligence and Finance

Do you have questions about this vacancy? Then you can contact Jörg for all substantive questions about this position and the application procedure. For general questions about working for the UT, please refer to the chatbot.

How to apply

Step 1

Apply.
When you see a vacancy that appeals to you, you can apply online. We ask you to upload a CV and motivation letter and/or list of publications. You will receive a confirmation of receipt by e-mail.

Apply now

Step 2

Selection.
The selection committee will review your application and you will receive a response within 2 weeks after the vacancy has been closed.

Step 3

1st interview.
The 1st (online or in person) meeting serves as an introduction where we introduce ourselves to you and you to us. You may be asked to give a short presentation. This will be further explained in the invitation.

Step 4

2nd interview.
In the second interview, we will further discuss the job content, your skills and your talents.

Step 5

The offer.
If the conversations are positive, you will be made a suitable offer. If applicable, we will sign you up for screening.

Your Colleagues

About the BMS faculty

Curious about what The Faculty of Behavioral, Management and Social sciences (BMS) stands for? Check out the BMS website for more information.

A job that matters

Create new opportunities for yourself, your colleagues and our society. Scientist or teacher, administrator or facilitator, thinker or doer, energetic leader or silent support – your work at the University of Twente matters. And you too!

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