FINCAD(Numerix) Women in Finance Scholarship

Overview

The FINCAD Women in Finance Scholarship — now administered by Numerix following its 2023 acquisition of FINCAD — is an annual USD $20,000 award supporting one outstanding woman pursuing graduate-level studies in finance. It is one of the few globally open, company-sponsored scholarships specifically targeting women in quantitative and capital markets finance, with no restriction on university or country of study. Numerix is a leading financial technology company specialising in derivatives pricing, risk analytics, and capital markets software. The scholarship reflects its commitment to increasing gender representation in quantitative finance roles — an area that remains significantly male-dominated globally, including in Nepal's growing financial sector.

• Open to female citizens of any country — including Nepal — enrolled at any accredited university worldwide
• USD $20,000 total: USD $10,000 paid directly to the winner, USD $10,000 paid to the university toward tuition
• One award given annually — highly selective by design
• Covers Master's and PhD programmes in finance, with emphasis on derivatives, capital markets, risk management, and fixed income
• No bond or service obligation to Numerix after the award
• Applications typically open early in the calendar year and close around late April to May

⚠️ Brand update note: This scholarship was originally launched in 2014 as the FINCAD Women in Finance Scholarship. Following Numerix's acquisition of FINCAD in 2023, it continues under the Numerix name. The official application page is now at numerix.com/women-in-finance-scholarship. The FINCAD brand name persists widely in search results and aggregator sites, but all applications and communications go through Numerix. ⚠️ 2026 cycle status: The 2026 application period is now closed. The winner will be announced in late Summer 2026. Eligible candidates should monitor the official Numerix page for the opening of the 2027 application cycle, typically announced in early 2027.

Eligibility

Who is Eligible

• Gender: Must identify as female. The scholarship is explicitly awarded to women.
• Citizenship: Open to female citizens of any country. Nepali women are fully eligible with no restrictions or quotas by nationality.
• Programme: Must be enrolled and attending a Master's or PhD programme in Finance on a full-time basis at an accredited university anywhere in the world. The programme should have an emphasis on finance, particularly in areas such as derivatives, capital markets, market risk management, fixed income, structured finance, or financial asset management.
• Study commencement window (2026 cycle): Must have commenced postgraduate Finance studies no earlier than January 1, 2026, and no later than February 1, 2027. Each annual cycle updates this window — check the official Numerix page for the 2027 cycle dates.
• Work experience limits: Must have fewer than 10 years of total work experience overall, and fewer than 5 years of professional experience specifically in the financial field.
• University accreditation: Must be enrolled at a recognised, accredited university. There is no restriction on which university or which country it is located in.

Who is Not Eligible

• Male applicants — the scholarship is exclusively for women.
• Students in undergraduate programmes — the award is for graduate-level (Master's or PhD) study only.
• Students in part-time graduate programmes — full-time enrolment is required.
• Students in general business, MBA, or management programmes without a primary finance focus, particularly in derivatives, capital markets, or risk management.
• Applicants with 5 or more years of professional experience in finance, or 10 or more years of total work experience.
• Students whose postgraduate Finance studies commenced outside the eligible date window for the cycle in which they are applying.

How to Apply

1. Monitor the official Numerix scholarship page for the opening of the next cycle. Applications typically open in early spring (around March–April) and close in late April or early May. Visit numerix.com/women-in-finance-scholarship and consider signing up for the Numerix newsletter to receive an announcement. The 2026 cycle deadline was May 4, 2026.
2. Confirm your eligibility. Verify that your programme meets the finance-specific focus requirement (derivatives, capital markets, risk management, or fixed income), that you are enrolled full-time, that your study commencement date falls within the eligible window, and that your work experience is within the limits.
3. Prepare your personal statement. This is the core of the application. Articulate your academic background, your specific interest in capital markets or quantitative finance, your career goals, and why you are applying for this scholarship. Connect your ambitions clearly to the areas Numerix focuses on — derivatives, structured finance, market risk, and fixed income.
4. Gather supporting documents. Typically required: current CV or résumé, academic transcripts, proof of enrolment in a full-time graduate Finance programme, and at least one recommendation letter from an academic or professional reference. Check the official application form for the exact document list for each cycle, as requirements may vary slightly year to year.
5. Submit the online application before the deadline. Applications are submitted through the official Numerix scholarship page. The deadline is strictly enforced — late submissions are not considered. Numerix explicitly states it cannot respond to individual inquiries about the scholarship, so do not contact their sales or support teams for status updates.
6. Await the winner announcement. The winner is typically announced and paid in late summer of the application year. Only the selected winner is contacted — there is no individual notification for unsuccessful applicants.