Mathematics/Financial Analysis and Risk Management (FARM)

Daniel Molka

“Waterloo is the greatest school in Canada for Math. My mom is a Waterloo Math graduate, so it’s always been ingrained in me, at least since grade school, that I would apply to Waterloo. And during my first tour of campus, I loved the environment and knew it was the right place for me.”

What is Financial Analysis and Risk Management (FARM)?

The world of finance requires professionals with strong mathematical and analytical skills. You’ll hone them both in this challenging program — one of just a handful across the country recognized by the CFA Institute and the Professional Risk Managers' International Association (PRMIA).

You’ll be ready to deliver, whether you choose to pursue a career in financial analysis or risk management. Combine courses in mathematics, statistics, and computer science with corporate finance, asset pricing, microeconomics and macroeconomics, and other business-related courses to gain a thorough grounding in Financial Analysis or Risk Management. In this exciting program, you’ll be able to choose one of two professional paths and their professional designations: Chartered Financial Analyst (CFA) or Professional Risk Manager (PRM).

  • Available as a co-op and regular program
  • There are 40 courses for this degree
  • Graduate with a Bachelor of Mathematics, major in Mathematics/Financial Analysis and Risk Management
  • Specializations in Chartered Financial Analyst or Professional Risk Management

First-year courses

  • MATH 135/145 - Classical Algebra
  • MATH 137/147 - Calculus 1
  • CS 115/135/145 - Computer Science
  • COMM 101 - Introduction to Financial Markets
  • A communications course

See full courses in our undergraduate calendar.

Upper-year courses

  • CO 250 - Introduction to Optimization
  • ECON 206 - Money and Banking 1
  • CS 335 - Computational Methods in Business and Finance
  • CO 372 - Portfolio Optimization Models
  • MATBUS 372 - Risk Management

Sample co-op jobs

  • Analyst, City of Toronto
  • Assistant to the Investment Advisor, RBC Dominion Securities
  • Sales Tax Internship, Walmart Canada
  • Liquidity Management Analyst, CIBC
  • Assistant Risk Manager, Sagicor Financial Corporation

Sample careers

  • Financial Analyst, Scotiabank
  • Asset/Liability Manager, TD Securities
  • Credit Risk Manager, RBC
  • Sr. Financial Analyst, Citigroup Inc.
  • Operational Risk Modeling Analyst, CIBC
  • Analyst, Canada Pension Plan Investment Board
  • Business Intelligence Consultant, Iconomics
  • Assistant Fund Manager, Nomura Asset Management Co.

Professional designation(s)

What is a professional designation? It's a professional approval by an employer or organization that a person can demonstrate particular standards of excellence in their field of work.

  • Graduates from Mathematics/Financial Analysis and Risk Management can pursue:
    • The Chartered Financial Analyst (CFA) designation.
    • The Professional Risk Management (PRM) designation. 

Student stories

Meet Daniel

When Daniel isn’t focusing on schoolwork, he enjoys getting involved in a few different extracurriculars that the University of Waterloo has to offer. He has participated in the FARM Student Association as its IT Analyst, he's a Math Ambassador at open houses, and he loves dancing in the Mambo Club.

Meet Tracie

Tracie hails from China and has enjoyed co-op terms both in Canada and at home. She has worked with notable companies including CGI Group Inc. and Tesla working in resource management, research and development and recruitment. She's currently working towards earning her Financial Risk Manager (FRM) designation.

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How to apply

Apply directly to Mathematics/Financial Analysis and Risk Management for admissions consideration.

Find out more information on the steps to apply.