Forty four students and two professors posing for a group photo in the arts quad at UWaterloo
Forty-four students joined the first incoming class of CFM

Our history

Computing and Financial Management (CFM) is the only program of-its-kind in Canada that offers a specialized degree with two majors in computer science and finance and that also combines real-world experience with five to six four-month co-op experiences.

The program was founded in 2006, and at the time, was ahead of the curve in combining tech and finance as the Financial Technology (FinTech) industry was only in its infancy then — an industry that uses innovative software, algorithms, and digital platforms to improve, automate, and provide financial services, and that needs professionals with an understanding of technology and finance to make these improvements.

With an incoming class size of 45 students each year and a total graduation size of 350 students, since 2011, CFM is a small program that offers a mighty set of talented and capable students and alumni.

On this page

Where it all began

In December 2003, Professors Peter Forsyth and Mark Giesbrecht from the Faculty of Mathematics at the Cheriton School of Computer Science, and Professors Duane Kennedy and Ken Vetzal from the Faculty of Arts at the School of Accounting and Finance, discuss noticeable trends in the banking and financial industry that demonstrates a strong shift toward the use of technologically-based tools and practices to support businesses. With this shift, they confess to having many talented graduates from finance or computer science who can support these changes but lack the formalized education to combine both areas of thought for future development. Connecting with their industry partners, the professors confirm this gap and the need for qualified professionals with combined computer science and financial skills. Throughout these conversations, they begin working on the framework to build a double-major degree known as Computing and Financial Management. Here begins the lengthy development of a curriculum that combines financial and computer science studies under a single Bachelor of Computing and Financial Management (BCFM) degree.

Proposals for the CFM program are submitted to the Undergraduate Academic Plan Committee (UAPC) as well as the Computer Science Council within the Cheriton School of Computer Science; the Undergraduate Affairs Committee in the Faculty of Mathematics; and the Arts Undergraduate Affairs Group (UGAG) as well as the Arts Faculty Committee (AFC) in the Faculty of Arts.

In March 2005, after multiple discussions and reviews of drafts for the creation of the CFM program, the proposal is approved by UGAG, the Arts Faculty Council, and the Math Faculty Council. In May, the CFM program is officially approved following a decision by the Senate Undergraduate Council (SUC) in its final stages of review.

It was high time to create an innovative program to help students lead the way in both [computer science and finance].

Peter Forsyth, Professor Emeritus, Cheriton School of Computer Science and Co-founder, CFM

The financial services industry needs professionals who can bridge [computer science and finance] and CFM graduates do just that. 

Ken Vetzal, Professor Emeritus, School of Accounting and Finance and Co-founder, CFM

Getting the program underway

  1. 2006
    1. Mar

      1. A part-time CFM Program Manager is hired to oversee the administration of the program.

    2. Aug

      1. Program brochures and flyers are developed to start promoting CFM to future students.

        The Co-Directors attend the Ontario Universities’ Fair (OUF), one of North America's largest educational fairs, allowing high school students and future applicants to connect directly with representatives, professors, and current students from all 21 Ontario universities.

  2. 2007
    1. Sep

      1. Forty-four students are admitted as part of the first incoming class of CFM. 

        The School of Accounting and Finance Living-Learning Community is offered to CFM students, allowing them to share a floor with students in similar programs in Village 1 residence with the support of a Peer Leader.

  3. 2008
    1. Mar

      1. A program review of CFM is conducted to ensure that degree expectations are matched with career needs.

    2. May

      1. The first co-op work term begins for the first class of CFM students.

The evolution of the program

  1. 2011
    1. Jun

      1. The CFM program welcomes its first class of 17 graduates.

  2. 2012
    1. Sep

      1. The CFM Mentorship Program (now called CFM Connect) is first established to connect upper-year students with first-year students, giving the younger students a chance to receive academic guidance and discuss experiences. 

    2. Dec
      1. CFA Institute University Affiliation Program logo of a spinning wheel

        CFM is accredited through the Chartered Financial Analyst (CFA) University Affiliation Program.

  3. 2013
    1. May

      1. The CFM program receives accreditation from Canada’s Association of Information (CIPS) as a University Accredited Program for I.T. professionals.

  4. 2017
    1. Dec

      1. The admissions target for CFM is officially increased to 45 students.

  5. 2020
    1. May

      1. All students begin a fully-online academic term. 

    2. Oct

      1. Senate Undergraduate Committee approves the creation of three new CFM-specific courses.

  6. 2021
    1. Sep

      1. The first of three new CFM-specific courses, approved by Senate, is offered.

        CFM 101 (Introduction to Financial Markets and Data Analytics) is taken by 63 first-year CFM students and taught by Professor James Thompson both in-person and online. CFM first-year students participate in the first-ever CFM 101 Case Competition.

  7. 2022
    1. Jan

      1. CFM 301 (Financial Data Analytics) is offered for the first time to CFM students.

  8. 2024
    1. Jun

      1. CFM Program convocates its 300th graduate.

Student milestones and achievements

CFM students are incredibly skilled and talented, receiving a lot of recognition for their dual knowledge in computer science and finance. They earn top marks at case competitions and hackathons, among others, and receive high praise with scholarships and other notable awards.

Competition wins

  1. 2013
    1. Mar

      1. Andrew George-Parkin (BCFM ’14) and his team win the Equity Research Challenge hosted by the School of Accounting and Finance. Their prize is to ring the bell in the opening ceremonies of the Toronto Stock Exchange (TSX) on Thursday, March 28.

    2. Jul

      1. Linda Teng (BCFM ’14) and her team take home the winning prize of $2,000 at the inaugural Investment Research Challenge hosted by the School of Accounting and Finance. The first runner-up team is comprised of another group of CFM students (Dustin Fader, BCFM ’14 and Jing Xue, BCFM ‘18). 

  2. 2014
    1. Dec

      1. CFM student Rongzhao Li (BCFM '19) and his team are selected among the 10 winning teams at Canada's largest hackathon, Hack the North, for their conceptual development of Botscape, a complex multi-player artificial intelligence game.

  3. 2015
    1. Jan

      1. A team of CFM students (Kam Dhaliwal, BCFM ’17; David Xia, BCFM ’17; and Daniel Wang, BCFM ‘16) step up to form the Investment Fund Team and showcase their financial expertise.

    2. Jun

      1. Priya Murali (BCFM ’18) and her team take home the winning prize of $2,000 at the 3rd annual Investment Research Challenge hosted by the School of Accounting and Finance.

  4. 2018
    1. Jan

      1. CFM student, Michael Song (BCFM '22) and his team take home the gold at the Canadian University Chess Championship Competition held in Ottawa, Ontario.

    2. Jun

      1. CFM student Jennifer Lo (BCFM ’18) and her team win first place at the Business Analytics Competition & Conference (BAC@MC), hosted by the O’Malley School of Business at Manhattan College in New York City.

    3. Sep

      1. CFM students, Peter Huang (BCFM '21) and Christina Liu (BCFM '20) and their teammates take home the $2,000 cash prize as the winners of the 2018 Investment Research Challenge. 

  5. 2020
    1. Mar

      1. A group of four CFM first-year students wins the Best Mapping and Travel Hack Award at Hack the Valley.

        CFM student, Tian Qin (BCFM '20), and his team take home the first place prize at the University of North Carolina’s Venture Capital Investment Competition (VCIC).

    2. Nov

      1. Upper-year CFM student, Johnson Shih (BCFM '22), and his team of students place first in the Schulich Strategy Discipline Case Competition.

  6. 2021
    1. May

      1. CFM student, Tony Shi (BCFM '21) and his team, win first place in the Canadian division of the Venture Capital Investing Competition (VCIC), and place fourth in the world at the Global Finals against top U.S. schools like Georgetown University, Cornell University, UC Berkley, Brigham Young University, the University of Miami, and the University of Chicago. 

  7. 2024
    1. Jun

      1. CFM student, Aryaman Dhillon (BCFM '24) and his team, win the Global Finals at CFA Institute's research challenge in Poland. 

  8. 2025
    1. Apr

      1. CFM student, Rachel Butler (BCFM '25) and her team, take second place at the Global VCIC (Venture Capital Investment Competition). It's the highest an international team has ever placed, outside the U.S., in the 27-year competition history, and a new Waterloo best after placing 3rd in 2024.

  9. 2026
    1. Feb

      1. CFM student, Timothy Zheng (BCFM '26) and his teammate, place second at the Inter-Collegiate Business Competition (I.C.B.C) in the finance stream at Queen's University. It is Canada's largest, oldest, and most prestigious undergraduate case competition that is run by students. 

Awards and scholarships

  1. 2012
    1. Aug

      1. The Middleton Family Scholarship is awarded to its first student recipient in CFM.

  2. 2014
    1. Jul

      1. The Jim Colvin Scholarship in Computing and Financial Management is established to award one upper-year CFM student $1,200 in financial support in September of the same year.

  3. 2023
    1. Mar

      1. CFM student Alex Zhu (BCFM '25) is named 2022 Co-op Student of the Year for the Faculty of Mathematics.

Other

  1. 2023
    1. Jun

      1. Ammar Kamran (BCFM '23) serves as CFM's first valedictorian at the School of Accounting and Finance convocation ceremony.

Program supports

A history of faculty and staff who have supported the program since its inception, including Program Managers and Co-Directors

  • Program Manager — A dedicated full-time staff that provides support for recruitment and admissions into the program, academic advising and engagement events for current students, and connection to alumni.
  • Co-Director — A professor who oversees the curriculum development and evolution of the program and determines the admission of future and transfer students. There are two professors who serve as Co-Directors for the program at any given time: one from the Cheriton School of Computer Science and one from the School of Accounting and Finance. 

Co-Directors

  1. 2005
    1. May

      1. May 2005 to June 2008

        Professor Peter Forsyth is appointed to serve as the first CFM Co-Director.

        May 2005 to December 2009

        Professor Duane Kennedy is appointed to serve as the first CFM Co-Director.

  2. 2008
    1. Jul

      1. July 2008 to June 2011

        Professor George Labahn is appointed CFM Co-Director.

  3. 2010
    1. Jan

      1. January 2010 to June 2014

        Professor Ken Vetzal is appointed CFM Co-Director.

  4. 2011
    1. Jul

      1. July 2011 to June 2013

        Professor Yuying Li is appointed CFM Co-Director.

  5. 2014
    1. Jul

      1. July 2014 to July 2019

        Professor Alan Huang is appointed CFM Co-Director.

  6. 2018
    1. Sep

      1. September 2018 to July 2019

        Professor Yuying Li is appointed CFM Co-Director for her second appointment term.

  7. 2019
    1. Jul

      1. July 2019 to July 2021

        Professor Justin Wan is appointed as the new CFM Co-Director for a two-year term (July 2019 to July 2021).

        July 2019 to current

        Professor James Thompson is appointed as the new CFM Co-Director (July 2019 to current).

  8. 2021
    1. Jul

      1. July 2021 to August 2023

        Professor Justin Wan is appointed for another two-year term as CFM Co-Director.

  9. 2023
    1. Sep

      1. September 2023 to December 2025

        Professor George Labahn is appointed for another two-year term as CFM Co-Director.

  10. 2025
    1. Jan

      1. January 2025 to present

        Professor Toshiya Hachisuka joins as a CFM Co-Director, marking the beginning of his first term.

Program Manager

  1. 2006
    1. Mar

      1. March 2006 to September 2008

        The position of CFM Program Manager is first held by Colleen Morrow.

  2. 2008
    1. Sep

      1. September 2008 to September 2009

        Bonnie Bishop serves as the Interim CFM Program Manager.

  3. 2009
    1. Sep

      1. September 2009 to June 2011

        Tracy Hilpert is hired as the new CFM Program Manager.

  4. 2011
    1. Jun

      1. June 2011 to August 2011

        Bonnie Bishop serves a second term as the Interim CFM Program Manager.

    2. Aug

      1. August 2011 to June 2015

        Professor David Ha is hired as the new full-time CFM Program Manager.

  5. 2015
    1. Aug

      1. August 2015 to November 2016

        Jordyn Gray-McInnis is hired as the new CFM Program Manager.

  6. 2016
    1. Nov

      1. November 2016 to May 2017

        Tian Kou begins serving as the Interim CFM Program Manager.

  7. 2017
    1. May

      1. May 2017 to July 2017

        Tracy Hilpert begins serving as the Interim CFM Program Manager.

    2. Jul

      1. July 2017 to present 

        Heather (Steinmetz) Shaw is hired as the new CFM Program Manager (on secondment from March 2021 to February 2022; 13-month maternity leave from May 2022 to June 2023; and 13-month maternity leave from December 2023 to December 2024)

  8. 2021
    1. May

      1. May 2021 to March 2022

        Aziza Chaudhry serves as the Interim CFM Program Manager (while Heather Steinmetz is away on secondment).

  9. 2022
    1. May

      1. May 2022 to June 2023

        Kim Tremblay serves as the Interim CFM Program Manager (while Heather Shaw is away on a 13-month maternity leave).

  10. 2023
    1. Nov

      1. November 2023 to December 2024

        Robert Kitchen serves as the Interim CFM Program Manager (while Heather Shaw is away on a 13-month maternity leave).