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Certificate in
Financial Mathematics Modeling

This certificate program is intended to provide technically trained professionals with an understanding of how to determine the value of financial derivatives and complex investments, and how to assess and analyze, through modeling frameworks, the associated benefits and risks of these instruments. Participants will attain a mastery of financial mathematics, especially in the areas of stochastic processes and probability, in statistics, and in computation, together with an understanding of the highly complex operations of financial markets.

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Admission Criteria

It is recommended that applicants have the following:

Mature student status and evidence of university level coursework in mathematics, economics, and/or finance, or equivalent (to be determined by the academic coordinator)
Mature student status and other relevant qualifications or relevant industry experience (to be determined by the academic coordinator)

Undergraduate students wishing to pursue a continuing education certificate program should be aware of possible restrictions; please refer to Curriculum Advising for complete details.

Admission Interview/Placement Assessment

An interview/placement assessment is required for this program. Please send a copy of your resume and your unofficial transcript to the Academic Coordinator, Sebastian Ferrando, at

Program Open House

Students who have questions about the admission criteria and/or would like to know more about this certificate are invited to attend a Program Open House. Please see Open House for dates, times, and location.

Certificate Requirements

The successful completion of six courses, with a cumulative grade point average of 1.67 or higher, is required for the certificate.

Certificate Registration

Students may be registered in only one certificate program at any one time. To allow maximum flexibility in crediting external courses and/or courses previously taken at Ryerson, students should register in the certificate at the beginning of their first course (see also Courses and Programs FAQ). For complete details on the advantages of early registration, registration deadlines, and Transfer Credit restrictions, all students should read Registration in a Certificate Program.

Awards and Financial Aid

If you require financial assistance, you may apply for merit-based awards and/or need-based financial aid. As well, students officially registered in a Chang School certificate program may be eligible for funding through the Ontario Student Assistance Program (OSAP). For a complete list of certificate programs approved by OSAP, visit the Student Financial Assistance website.

Requirements for Graduation

To graduate, you must successfully complete, within your official timespan, the published certificate curricula from the year you registered in the certificate program. In some circumstances, certificate requirements may change, resulting in courses no longer being available. In such cases, Course Substitutions/Directives may be requested. Also, you must apply on RAMSS to graduate, prior to the appropriate application deadlines (see Important Dates). For complete details, all students should read Graduation.

Recommended Sequence

Students are advised to take the courses in the following sequence:
CFIN 300
CCPS 393
CFIN 501
CMTH 304
CMTH 500
CMTH 600
CMTH 700
CMTH 800

Required Courses

CMTH 600   Mathematics:  Computational Methods In Mathematics
CMTH 700   Mathematics:  Financial Mathematics I
CMTH 800   Mathematics:  Financial Mathematics II

Electives (select three)*

CCPS 393   Computer Science:  Introduction to UNIX, C and C++
CFIN 300   Finance:  Managerial Finance I
CFIN 501   Finance:  Investment Analysis
CMTH 304   Mathematics:  Probability and Statistics I
CMTH 500   Mathematics:  Introduction to Stochastic Processes

* The electives associated with this certificate program are divided into groups, based on the participant’s area of expertise. The academic coordinator for the program will determine the grouping that applies to each participant, designed to strengthen his or her financial mathematics modeling competencies in other areas. A group of three (3) electives selected from the full list of elective courses may be substituted for the suggested elective groupings, at the discretion of the academic coordinator.

Suggested Elective Groupings

Mathematical Grouping (for participants with mathematical background): CCPS 393, CFIN 300, CFIN 501
Computational or Engineering Grouping (for participants with computational or engineering background): CFIN 300, CFIN 501, CMTH 500
Financial Grouping (for participants with financial background): CCPS 393, CMTH 304, CMTH 500

Distance Education

The following courses are available in a distance education format this academic year.

CFIN 300   Finance:  Managerial Finance I