Engle was born in Syracuse, New York into a Quaker family[2] and went on to graduate from Williams College with a BS in physics.

He currently teaches at New York University, Stern School of Business where he is the Michael Armellino professor in Management of Financial Services.

[5][6] Engle's most important contribution was his path-breaking discovery of a method for analyzing unpredictable movements in financial market prices and interest rates.

Accurate characterization and prediction of these volatile movements are essential for quantifying and effectively managing risk.

Engle was the central founder and director of NYU-Stern's Volatility Institute which publishes weekly date on systemic risk across countries on its V-LAB site.