Make Your Statistics Degree an FSRM MSc.
Financial engineers have access to enormous quantities of data but need powerful methods for extracting and analyzing quantitative information, particularly about volatility and risks. The Financial Statistics and Risk Management program is a Quantitative Finance and Masters in Statistics on steroids. You learn all that you would in a standard MS in Statistics, but also gain domain expertise in finance market concepts, financial data analysis and risk management at the same time. You make yourself qualified for well paid quantitative financial data analyst and risk management jobs where the demand for these skills is growing. If you going to choose a specialist domain for your statistics degree, Financial Statistics or Risk Management is hard to beat for the potential payoff in future financial rewards and involvement in exciting domain applications.
Risk Management, in particular, is in very high demand since the financial crisis. Banks and other financial institutions are having to make risk management a central focus of their operations because of the beefing up of international and national regulations since 2010. Accordingly, these institutions are increasing their employment of skilled quantitative risk managers to satisfy their internal and external compliance requirements. Regulators also have to augment their ranks of quantitative risk managers. Financial risk management uses sophisticated probability and statistical methods to identify, manage and mitigate risk. If fact, because risk management is focused on volatility and tail risks, it is fundamentally based on probability and statistics modeling and data analysis. This contrasts with derivative pricing where mathematical partial differential equations and stochastic process modeling dominate.
If you are considering a graduate degree in statistics, they you owe it to yourself to take a hard look at the FSRM MSc. START HERE!