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Welcome to Financial Statistics & Risk Management (FSRM)

The Financial Statistics and Risk Management Program (FSRM) at Rutgers University offers a 30-credit Master’s degree in Statistics focused on the analysis and modeling of financial data and risk management. Students in the program receive core training in probability theory, statistical inference and advanced statistical and computational methods tailored to financial data analysis and modeling and risk management. They also receive supportive education in related financial concepts and market structure, operations, trading instruments and risk-related regulation.

Courses are taught by a faculty of experts in the mathematics of uncertainty and in statistical modeling and data analysis. Industry practitioners also contribute to instruction and training through workshops and seminars. Students benefit from a dynamic learning environment featuring internships, projects and case study assignments using real financial data, as well as attendance at practitioner seminars, industry events, career development workshops and mentorship opportunities. By bringing together a world-class faculty, Advisory Board and university located close to New York City, the FSRM program prepares students for a wide range of careers in the financial industry.

A UNIQUE PROPOSITION

Traditional quantitative finance programs focus primarily on mathematical modeling for developing and pricing complex derivative products. Although fundamental financial engineering concepts, such as no-arbitrage pricing, risk-neutral valuation and stochastic calculus are a component of the FSRM Program, we are unique in emphasizing statistical tools and data analytics for measuring, monitoring, managing and mitigating uncertainty, risk and volatility. Students  do an in-depth studies of important topics such as advanced applied parametric and non-parametric statistical methods in finance; advanced time series analysis applied to financial and economic data and forecasting; multivariable regression analysis, data mining, data visualization and predictive analytics; algorithmic trading and portfolio management, statistical modeling of default probabilities, losses given default and exposures at default; scenario analysis and stress testing; event driven loss distributions for operational risk management and many other statistically driven topics as applied to financial data and risk management.

Our commitment is to ensure students are equipped to solve the complex problems financial institutions face today. We recognize that the standard assumptions or “stylized facts” of finance do not always apply in a real world situation. Students are taught to statistically examine and analyze the data for deviations from expected behavior and to use robust methods to mitigate and manage their impact.

PROFESSIONAL PARTNERSHIPS

The FSRM program has qualified for academic partner status with the leading industry risk  management associations, GARP and PRMIA.

Our Advisory Board

Our Advisory Board comprises senior executives from major financial institutions as well as academicians. Through semi-annual meetings and reviews, these leading practitioners and academics provide valuable feedback, ensuring the content of the FSRM program reflects the industry’s changing needs.

Practitioner Seminar and Practitioner as Instructor

The FSRM Practitioner Seminar series held once or twice a month brings leading professionals in finance and risk management to the campus to give  talks on the quantitative and statistical aspects of their work and advice to students  on managing their careers. Students are required to attend the seminars as part of the practical training component of the program, and they benefit by connecting what they learn in the series with the course content. Examples of past  practitioner seminars are posted on this site at 

In addition, the Practitioner as Instructor initiative brings practitioners into the classroom to teach selected topics such as regulatory-driven model development and validation and stress testing.

PLACEMENTS

FSRM graduates and students have accepted positions at Capital One, Deutsche Bank, Cantor Fitzgerald, Global Risk Management Advisors, Nomura, Morgan Stanley, JP Morgan, GENPACT, Bank of America, E&Y, KPMG and other financial institutions and advisories.

Want to Know More? Prospective Students click here or the main menu item "Prospective Students". Prospective Employers or Recruiters, see the "Student Gallery" in the main menu. 

RESOURCES AND ANNOUNCEMENTS

 FSRM Slide Overview: click here

 FSRM FAQS: click here

FSRM Brochure: click here

 FSRM Faculty bios: click here

 FSRM-GARP Academic Partnership click here

FSRM Selects Imagine Software, Inc. as Strategic Partner: Rutgers FSRM and Imagine Software have signed an MOU whereby they agree to collaborate across a number of activities, including: hiring FSRM students in internships, access to  Imagine Software platform for training and education, collaboration on specifically agreed-to long term research projects, Imagine Software participation in the FSRM Advisory Board and in proposing course research projects and in joint promotional and education activities

FSRM application for Module 1, PRMIA University Membership, has been approved after review of our risk management program course structure.Through this membership, FSRM students and faculty receive PRMIA Sustaining Memberships, PRMIA’s highest and most beneficial level of membership, at a significant discount. The membership gives access to many services and resources,  including posting resumes, attending networking events, accessing online resources and participating in Risk Management Challenges. FSRM application for Module 3 will be submitted by end of 2016.

Gordon Ritter to teach FSRM Course "Advanced Statistics for Finance" in Spring 2017: Gordon Ritter joined GSA in 2015 as a senior portfolio manager and leader of a team pursuing a broad range of statistical arbitrage strategies across geographies and asset classes. Gordon is also responsible for directing all research in GSA's New York office. GSA has won the Equity Market Neutral & Quantitative Strategies category at the Eurohedge awards four times in the last six years, with numerous other awards.

FSRM Newsletters

Newsletter (Issue 10, Summer 2016)

Newsletter (Issue 9, Spring 2016)

Newsletter (Issue 8, Spring 2015)

Newsletter (Issue 7, Spring 2014)

Newsletter (Issue 6, Fall 2013)

Newsletter (Issue 5, Fall 2012)

Newsletter (Issue 4, Spring 2012)

Newsletter (Issue 3, Spring 2012)

Newsletter (Issue 2, Fall 2011)

Newsletter (Issue 1, Fall 2011)

 

 

BIO PROFILES

Learning Goals and Program Assessment

 

Graduate Program in Financial Statistics and Risk Management

Master’s Degree Learning Goals and Assessment

Adopted November 2011

The Graduate Program in Financial Statistics and Risk Management trains Master of Science students at an advanced level in applications of statistical science to finance and risk management . The graduate program also meets the expectations and standards as outlined by the professional organization providing specialized accreditation for the discipline.

Learning Goal 1 for Students: Attain mastery of the essential aspects of practice and research in the field of financial statistics and risk management

Assessment of student achievement of Goal 1:  

  •   Grades in graduate courses
  •   Review by faculty of student progress with close advising and mentoring
  •   Comprehensive examinations assessing depth and breadth of knowledge or a capstone paper or project or a research thesis
    o   Assessment of student’s performance by committee of graduate faculty members
  • Continuation of graduate studies or placement in a professional position that requires an understanding of the norms and practices of financial statistics and risk management, as well as competency in the technical aspects of performing the work associated the field.

Roles of the program in helping students to achieve Goal 1:

  •   Close advising to assure that students are being prepared in a systematic and academically rigorous way
  •  Effective monitoring of student progress
  •   Evaluations of teaching effectiveness of instructors in graduate courses
    o   If effectiveness is below expectations, work with instructors to improve effectiveness
  •   Periodic review of curricular offerings, degree requirements and assessment tools
    o   By program faculty
    o   In consultation with the office of the dean of the graduate school and/or the unit dean

Learning Goal 2 for Students: Prepare to be professionals in financial statistics and risk management

Assessment of graduate student achievement of Goal 2:

  •   Participation in internships and other work tailored to career goals, assessed accordingly
  •   Collection of data on professional placement data or continuation of graduate studies
  •   Review by external advisory committees, both inside of and external to the academy.

Role of the program in helping students achieve Goal 3:

  •   Host professional development and career exploration activities
  •   Develop internship opportunities
  •   Host external advisory committees

The leadership of the financial statistics and risk management graduate program will regularly review the structure and content of the program and the feedback received from assessments and surveys. These reviews will be used to provide the best possible education to students that meet current needs for professionals in funereal sciences.  

Program Learning Goals and Assessment

Program Assessment and Learning Goals

Graduate Program in Financial Statistics and Risk Management

Master’s Degree Learning Goals and Assessment

Adopted November 2011

The Graduate Program in Financial Statistics and Risk Management trains Master of Science students at an advanced level in the aspects of statistical applications in finance and risk management related to statistical science. The graduate program also meets the expectations and standards as outlined by the professional organization providing specialized accreditation for the discipline.

Learning Goal 1 for Students: Attain mastery of the essential aspects of practice and research in the field of financial statistics and risk management

Assessment of student achievement of Goal 1:  

  •   Grades in graduate courses
  •   Review by faculty of student progress with close advising and mentoring
  •   Comprehensive examinations assessing depth and breadth of knowledge or a capstone paper or project or a research thesis
    o   Assessment of student’s performance by committee of graduate faculty members
  •   Continuation of graduate studies or placement in a professional position that requires an understanding of the norms and practices of financial statistics and risk management, as well as competency in the technical aspects of performing the work associated the field. .

Roles of the program in helping students to achieve Goal 1:

  •   Close advising to assure that students are being prepared in a coherent and academically rigorous way
  •   Effective monitoring of student progress
  •   Evaluations of teaching effectiveness of instructors in graduate courses

o   If effectiveness is below expectations, work with instructors to improve effectiveness

  •   Periodic review of curricular offerings, degree requirements and assessment tools

o   By program faculty

o   In consultation with the office of the dean of the graduate school and/or the unit dean

Learning Goal 2 for Students: Prepare to be professionals in financial statistics and risk management

Assessment of graduate student achievement of Goal 2:

  •   Participation in internships and other work tailored to career goals, assessed accordingly
  •   Collection of data on professional placement data or continuation of graduate studies
  •   Review by external advisory committees, both inside of and external to the academy.

Role of the program in helping students achieve Goal 3:

  •   Host professional development and career exploration activities
  •   Develop internship opportunities
  •   Host external advisory committees

The leadership of the financial statistics and risk management graduate program will regularly review the structure and content of the program and the feedback received from assessments and surveys. These reviews will be used to provide the best possible education to students that meet current needs for professionals in funereal sciences.  

STUDENT PROFILES & RESUMES

News & Events

RESOURCES AND ANNOUNCEMENTS: View resources and news about FSRM and check out our news letters.

FSRM is pleased to announce that, as part of the BS/MS program, GRE/GMAT score submissions are waived for admission applications by Rutgers undergraduates with cumulative GPA of 3.2 or better.

FSRM Selects Imagine Software, Inc. as Preferred Strategic Partner: Read more here

FSRM Application for PRIMIA Module 1, University Membership, Approved: Read more here.
Gordon Ritter, Senior Portfolio Manager, GSA Capital to teach FSRM "Advanced Statistics for Finance" course in Spring 2017: Read more here.

Contact Us

Dr. Neville O'Reilly, Associate Director
P 848-445-7669
E  fsrm@stat.rutgers.edu

FSRM Program
Rutgers, The State University of New Jersey
110 Frelinghuysen Road
479  Hill Center, Busch Campus
Piscataway, NJ 08854