Background
Our client is a Senior Quantitative Model Developer from Albania who sought Permanent Residency via the self-petitioned EB-2 National Interest Waiver. He specializes in building forecasting and risk models across diverse sectors, including interest rates, credit spreads, FX, deposit forecasting, and probability of default models.
Our client has an impressive background – a Ph.D. in Economics and Finance, an M.Sc. Master of Science in Banking and Finance, and a B.Sc. Bachelor of Science degree in Mathematics. However, due to the complexity of self-petition NIW cases, our client hired us to help build a solid case showcasing that his proposed endeavor is in the national interest of the United States and should therefore bypass the lengthy PERM labor certification requirements.
Before he could conduct his work in the United States and take up a position as a Senior Quantitative Model Developer at a leading banking institution, required the legal expertise to navigate the compex EB-2 NIW process.
VisaNation Case Strategy
Proving our clients’ worthiness to pass the three-prong test of the Matter of Dhanasar framework required detailed evidence preparation and a precise narrative. Our case involved:
- Showcasing that our client was well-positioned to advance the proposed endeavor to benefit US companies and the national interest based on his previous education, skills, and knowledge. Our team carefully developed excerpts from six different recommendation letters from prominent figures – one including a University professor who highlighted his prowess in the field of machine learning, going as far as to suggest our client was one of the first PhDs to delve into this specialized field.
- Evidencing National Importance. Our client’s proposed endeavor involved nurturing and educating the next generation of economists and finance professionals in the vital STEM field of economics. Recommendation letters showcased an “unwavering commitment to excellence in teaching and mentorship.” Moreover, our petition evidenced our client’s ability to serve as a high-level policy consultant in macroeconomics and risk mitigation, leveraging his PhD-level research to demonstrate his ability to protect the U.S. economy from systemic turmoil seen in past financial crises, such as the 2008 recession.
- Demonstrating Substantial Merit, by evidencing both his PhD in a narrow, specialized STEM field of Economics and the critical necessity of advanced macroeconomic risk modeling to safeguard the U.S. financial system, of which our client was an expert. In this prong, we showcased our client’s PhD research on interest rate sensitivities and how overlooking this variable led to the Silicon Valley Bank liquidity crisis and subsequent systemic shock. Our clients’ research and quantitative proprietary risk assessment frameworks provide the oversight required to identify vulnerabilities before they escalate, protecting national economic stability and preventing the multi-billion dollar taxpayer interventions
The Verdict
Despite an initial RFE questioning the national importance of our client’s proposed endeavor, our legal team compiled a comprehensive response that showcased his specialist position in one of the largest and most systemically important financial institutions in the United States. We successfully argued his vital role in safeguarding the financial stability of banks and, by extension, the entire U.S. financial system. Furthermore, we demonstrated how his work will ensure financial institutions maintain sufficient capital to withstand economic shocks.
As a result, after compiling our comprehensive RFE within 7 days, we secured our client’s EB-2 NIW approval in just under four months.
