Anna Chernobai is a Professor of Finance at the M.J. Whitman School of Management at Syracuse University. The focus of her research is operational risk, default risk, stochastic processes, and applied statistics and probability. She has published in top finance and related journals such as the Journal of Financial and Quantitative Analysis, Journal of Banking and Finance, Journal of Accounting Information Systems, and Real Estate Economics. She is also an author of the book “Operational Risk: A Guide to Basel II Capital Requirements, Models, and Analysis” published by Wiley Finance in 2007. In 2008, she won a selective FDIC research fellowship for her research on operational risk in financial institutions. In 2009, she collaborated with JP Morgan Chase and served as a Syracuse University - JP Morgan Chase Faculty Research Fellow. Also in 2009, her work in the area of operational risk received recognition from the industry and she was selected as one of the "Top 50 Faces of Operational Risk." In 2010, she received a university-wide Meredith Teaching Recognition Award from Syracuse University, and in 2012 she was awarded with Guttag Junior Faculty Award from the Whitman School of Management. Dr. Chernobai's teaching experience includes undergraduate and MBA courses, and PhD seminars in the areas of risk management, business statistics, and stochastic processes.
Ph.D., Statistics and Applied Probability, University of California at Santa Barbara
Dr. Chernobai's teaching interests include business statistics, applied probability, and risk management. She has taught the following courses at the Whitman School of Management:

Undergraduate Managerial Statistics [MAS 261]

Undergraduate Risk Management [FIN 400]

MBA Data Analysis and Decision Making [MBC 638]

Graduate Risk Management: Credit Risk [FIN 741]

Graduate Risk Managmeent: Operational Risk [FIN 742]

PhD Finance Seminar [FIN 960]
Professor Chernobai’s research interests lie in the area of financial mathematics and applied statistics and probability. Her interests include modeling operational risk in light of the Basel II Capital Accord and integration of operational risk with credit and market risks. Her areas of interest include also insurance, financial economics, and stochastic processes.

A complete list of Dr. Chernobai's publications can be obtained from her personal homepage at


  • Apr 01, 2020

    Dean’s Citation For Research

  • Jun 29, 2015

    Best Paper Award

    Israel Association for Information Systems (ILAIS) 2015 conference. Best Paper Award for “Operational IT Failures and IT Governance,” (with Michel Benaroch).
  • Jan 01, 2015

    Textbook Adoption

    University College London, UK. My book (Chernobai/Rachev/Fabozzi 2007) was used in 2015 as primary reference in Masters course “Operational Risk Measurement for Financial Institutions.” Department of Computer Science.
  • Jan 01, 2012

    Guttag Junior Faculty Award

    Whitman School of Management, Syracuse University
  • Jan 01, 2010

    Meredith Teaching Recognition Award

    Syracuse University (university-wide)
  • Jan 01, 2009

    JP Morgan Chase-Syracuse University Faculty Research Fellow

    JP Morgan Chase-Syracuse University
  • Jan 01, 2009

    Elected as one of The Top 50 Faces of Operational Risk

    OpRisk & Compliance magazine
  • Jan 01, 2008

    FDIC research fellow

    FDIC Center for Financial Research
  • Jan 01, 2005

    Nominated for Outstanding Teaching Assistant Award

    UC-Santa Barbara (university-wide)