Financial Statistics and Risk Management

Students in this STEM-designated 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.

Program Description

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.


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 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.

Degree Types

  • M.S. (Master of Science)

Campus Locations

Busch Campus - New Brunswick

Admission Deadlines

For best consideration apply by these dates

Students will be accepted to the program on a rolling admissions basis.  However, space in the FSRM program is limited and potential applicants are encouraged to apply early.