Student Spotlight: Ololade Sowunmi

Ololade Sowunmi is a fourth-year doctoral student pursuing a degree in financial mathematics through Florida State University’s Department of Mathematics, part of the College of Arts and Sciences. Part of Sowunmi’s research focuses on minimizing risks and maximizing returns of financial investments with the goal of helping individuals and businesses preserve and grow their wealth over time. His research also uses mathematics to address climate issues. Sowunmi is set to graduate in Spring 2026.

Tell us a little about your background.

I come from the ancient city of Abeokuta in Ogun State, Nigeria. I earned my bachelor’s degree in mathematics in 2015 at Obafemi Awolowo University in Nigeria. In 2020, I completed a dual master’s degrees program in mathematical engineering through the InterMaths Consortium. As part of this program, I studied my first year at the University of L'Aquila in Italy and my second year at the Brno University of Technology in the Czech Republic, earning a degree from each university. I came to FSU for my doctoral degree because it has one of the best financial math programs in the country.

What inspired you to pursue a doctorate in mathematics?

Math is fun, and I can spend hours working on a problem without end. It’s exciting that such a wide range of interdisciplinary problems can be solved using math.

Can you tell us about your research?

My primary area of interest is in the finance industry. For my master’s thesis, I studied two mathematical models that aim to maximize returns, or profit, and minimize risk when investing in green energy companies, such as solar and wind power. This experience led me to my current research, for which I’m creating a portfolio optimization and risk management model through high-dimensional covariance estimation. This mathematical model will help people make strategic investment decisions to balance potential profits and risks.

My second area of interest is machine learning, which uses computers to analyze data and then make predictions or decisions. I’ve explored using neural networks, a type of machine learning model, to predict ocean behavior and address climate change-related problems, such as the impact of rising sea levels on coastal communities.

What do you want the public to know about your research? Why are your topics important?

Wealth preservation and growth are crucial goals for most individuals, families and corporations. A portfolio includes a person’s or business’ financial cumulative assets, and when we invest in assets such as stocks, bonds, mutual funds, or index funds, we do so with the desire to make endless returns. However, returns are unpredictable and beyond our control. What we can manage is our exposure to risk, and this requires accurate information to make decisions. My research in high-dimensional covariance estimation seeks to provide this essential information. It aims to develop a model that minimizes risk when constructing a diversified portfolio of assets.

What is the most significant takeaway of your teaching assistantship at FSU so far?

I’m very grateful for the opportunity to be a TA, which has allowed me to focus fully on my studies through substantial tuition assistance. I’ve had the privilege of teaching undergraduate classes where I can share my passion for mathematics and inspire students. It’s also given me a community of like-minded peers with whom I’ve built lasting relationships, as we’ve all managed to find the balance needed to succeed as researchers, students and teachers.

Tell us about your internship at Oak Ridge National Laboratory in Tennessee last summer.

The experience was a huge eye opener. My work with the team at ORNL allowed me to apply mathematics, machine learning, and artificial intelligence to address climate-related challenges. By fine-tuning a model called Fourier Neural Operators, we simulated and studied complex ocean behaviors by finding ways to increase the precision of deep learning models. These findings, titled “Streamlining Ocean Dynamics Modeling with Fourier Neural Operators: A Multiobjective Hyperparameter and Architecture Optimization Approach,” were published in the journal Mathematics earlier this year. Since the ocean plays a crucial role in the climate system and influences natural events like hurricanes, tornadoes and droughts, our research has implications beyond improving the model’s accuracy.

What on-campus resources help you achieve success?

I frequently use both the Robert Manning Strozier Library and Paul Dirac Science Library, taking advantage of their online resources and on-site facilities. The Center for Global Engagement has been essential in helping me navigate the U.S. system as an international student. I’ve also found Campus Recreation very helpful; I enjoy visiting the Dr. Bobby E. Leach Center from time to time and playing intramural soccer. These activities help me relax and have fun, contributing to my overall success.

What are some current goals/projects/research that you’re working on?

My primary goal is to advance my research in high-dimensional covariance estimation for portfolio optimization. I’m also working with my adviser Alec Kercheval — FSU professor of mathematics and affiliated researcher at the University of California Berkeley’s Consortium for Data Analytics in Risk — in creating models and algorithms to find ways to estimate the risk of investments with many different factors but little historical data, making investments as safe and profitable as possible.

Are there any faculty or staff who have helped or inspired you?

Kercheval has been a great inspiration. His work on shrinkage estimators for portfolio risk influenced my research and decision to become a quantitative analyst in risk management. Other math faculty members — such as professor Kyle Gallivan, associate chair for graduate studies and professor Giray Okten, and associate professor Feng Bao — sparked my interest in scientific machine learning and encouraged my internship at ORNL. My academic adviser, Elizabeth Scott, has also supported me from day one.

What are you looking forward to once you graduate?

I’m excited about what the finance industry holds for me. I’m working towards becoming a chartered financial analyst, a credential that demonstrates a deep understanding of investment analysis, wealth management and financial strategy. I look forward to building a career in the risk management field as a quantitative analyst, a specialization that applies mathematical models and computational techniques to financial data.