Program Overview

Mathematical Finance Degree

The Mathematical Finance degree is designed for students with elite mathematical abilities who wish to pursue a career in finance. This program is offered jointly by the Department of Pure Mathematics and the Department of Statistics and Actuarial Science.

Overview

The program focuses on the math behind financial markets, allowing students to hone their programming, math, and statistics skills. Students will take courses in corporate finance, quantitative risk management, mathematical analysis, and statistical forecasting.

Courses

First-Year Courses

• MATH 135 – Algebra for Honours Mathematics
• MATH 137 – Calculus 1 (Honours)
• Choose one course from:
  • CS 115 – Introduction to Computer Science 1
  • CS 135 – Designing Functional Programs
• One communication skills course
• One elective

January to April

• MATH 136 – Linear Algebra 1 for Honours Mathematics
• MATH 138 – Calculus 2 (Honours)
• Choose one course from:
  • CS 116 – Introduction to Computer Science 2
  • CS 136 – Elementary Algorithm Design and Data Abstraction
• Two electives

After First Year

Students will take a mix of actuarial science courses, statistics courses, and pure math courses, with additional courses in business, economics, accounting, computing, and differential equations.

Sample Upper-Year Courses

• ACTSC 372 – Investment Science and Corporate Finance
• CS 335 – Computational Methods in Business and Finance
• PMATH 450 – Measure Theory
• STAT 443 – Forecasting

Customize Your Degree

Students can add additional areas of expertise to their degree by including one or more of the minors available to all Waterloo students.

Faculty and Degree

• Faculty: Faculty of Mathematics
• Degree: Bachelor of Mathematics in Mathematical Finance
• Available as a co-op program: Yes
• Available as a regular program: Yes
• Available as a minor: No

Co-op Program

The co-op program provides students with 24 months of paid work experience. Students will alternate between school and work every four months, integrating their classroom learning with real-world experience.

Sample Co-op Job Titles

• Product manager assistant
• Security developer
• Quality assurance technician
• Risk analyst
• Trading products quantitative analyst
• Business application developer
• Data governance analyst

Admission Requirements

• Ontario students: six Grade 12 U and/or M courses including Advanced Functions, Calculus and Vectors, Any 4U English, and one other 4U course
• Recommended course: Grade 11 U Introduction to Computer Science
• Admission averages: Individual selection from the mid-80s

Related Programs

• Computing and Financial Management
• Accounting and Financial Management
• Math/Financial Analysis and Risk Management
• Computational Mathematics

Career Opportunities

Waterloo Mathematical Finance graduates often pursue careers in investment banking, financial analysis, and more. They typically work in financial institutions, investment companies, and more.

Recent Graduates

• Investment Analyst — Manulife Financial
• Data Scientist — EMAGIN Clean Technologies
• Risk Analyst — TD Bank Group
• Associate Director — Counterparty Credit Risk, RBC Capital Markets
• Quantitative Investment Associate — Putnam Investments
• Quantitative Portfolio Manager — Lombard Odier
• Risk Modelling Analyst — TD Bank Group

Student Life

The Math Finance Student Association provides a wide range of clubs, services, and social and academic events to make the experience as a Waterloo math student the best it can be. Students can also participate in competitions such as Hack the North, Canada's largest hack-a-thon. The Women in Mathematics and Women in Computer Science communities encourage and advocate for women of all ages who are interested in studying math and pursuing a career in a related area.