The Department of Statistics and Biostatistics is pleased to offer a new professional master's degree in Financial Statistics and Risk Management (FSRM). The program emphasizes training students in the use of statistical methods, data analysis tools, and computational methods which are especially relevant to banking and financial institutions.

Students in the program will receive solid training in a broad range of topics, including probability, statistical methods, computational methods, and related subjects in finance and economics.  Graduates of the program will have a deep understanding of the nature of uncertainty, financial risks, and statistical properties of financial markets.  They will also develop strong statistical and computational skills for financial data analysis and risk evaluation, along with communication and leadership skills which are essential to a successful career in financial statistics and risk management.

In the financial industry, there has been a dramatic increase in demand for sophisticated statistical methods and professionals who are capable of using them.  This program distinguishes itself from the traditional quantitative finance, financial engineering, and mathematical finance programs by offering solid and extensive training in the theory and method of statistics, and the skills necessary for using various advanced statistical tools for a wide range of applications in the financial industry.

The program is designed for students with a B.S in mathematics, statistics, engineering, computer science, economics, finance, or related fields. Depending on prior knowledge, a fulltime student may be able to complete the program in 3 semesters (10 courses).  However, the program is also flexible and able to accommodate part time students.  Overall, the program is intended to successfully prepare students for a wide range of careers in the financial industry.