Cornelius Francis Jayadi, An Actuarial Science Student at ITB, Secures Top Position in Engineering Field at ALMI Thesis Award 2023
BANDUNG, itb.ac.id – Cornelius Francis Jayadi, S.Aktr., a graduate of the Undergraduate Program in Actuarial Science at Institut Teknologi Bandung (ITB) and currently enrolled in the Master's Program of Actuarial Science through the fast-track program, has achieved a significant accomplishment by securing the first position in the engineering field at the ALMI Thesis Awards 2023.
The award ceremony took place at FAD ITB’s Design Center, coinciding with the Congress of Indonesian Young Scientist (KIMI) II, themed “The Future Science, Responsibility, and Glocalizing Eco-Social Justice,” on Saturday (9/12/2023).
The ALMI Thesis Awards 2023 is an event organized by the Academy of Indonesian Young Scientist (ALMI) to recognize graduates from undergraduate programs across all universities in Indonesia who produce high-quality theses and publications.
This event marked the first-ever participation by graduates from ITB, University of Indonesia, Gadjah Mada University, Diponegoro University, Institut Teknologi Sumatera, and others.
The ALMI Thesis Award 2023 includes five scientific fields: natural science, health, social, engineering, and education.
Cornelius, under the guidance and recommendation of his thesis supervisor, Prof. Novriana Sumarti, S.Si., M.Si., Ph.D., from the Faculty of Mathematics and Natural Sciences (FMNS) at ITB, ventured into the engineering field after discovering the award through his academic program.
His thesis titled “Stock Portfolio Optimization with the Black-Litterman Model and Structured Warrant Portfolio with the Binomial Method”.
"My thesis primarily revolves around portfolio optimization, emphasizing two main principles: stocks and structured warrants. The focus of this thesis lies in conducting a simulation that compares the construction of an independent portfolio with a portfolio constructed by a particular mutual fund company." he explained on Wednesday (27/12/2023).
Cornelius develops a method in which managing the portfolio independently results in better performance compared to a portfolio constructed by a mutual fund company.
"The benefit of this thesis is to introduce a fundamental concept for individuals interested in independent investing. The method proposed in this thesis proves to be more effective compared to existing methods used by mutual fund companies," he added
Cornelius mentioned, there are two stages before the winner's announcement. The first stage is registration. The second stage is an online interview about the thesis.
Before entering the second stage, a selection was carried out from various submitted data, one of which was the thesis published in the MENDEL Soft Computing Journal. Out of the 160 candidates, 15 candidates were proposed as finalists, three in each field. Cornelius was one of three candidates who entered the interview stage in the engineering field.
Apart from Cornelius, students from other universities were also recognized in each field. The best position in natural sciences went to an alumnus of Institut Teknologi Sumatra; the 1st position in health was achieved by an alumnus of Airlangga University; the 1st position in social humanities was secured by an alumnus of Diponegoro University; and the top position in education was attained by an alumnus of Diponegoro University.
Cornelius expressed his hope that his work would be developed in the long term and transformed into a practical application. This application could potentially be used by individuals to optimize their independent investments.
Reporter: M. Naufal Hafizh
Translator: Hanifa Juliana (Urban and Regional Planning, 2020)
Editor: Anggi Nurdiani (Management, 2024)
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