The Department of Finance and Risk Engineering (FRE) is a diversified research and degree granting department – the largest of its kind in the U.S. with approximately 300 students and the largest alumni base in the world. The Department provides a multi-faceted education through the MS in Financial Engineering program and an undergraduate Minor in Finance.
The department’s educational programs, research and extracurricular activities seek to bridge theory and practice and meet the many and complex challenges that the financial engineering profession is confronted with. The department’s curriculum combines a rigorous vision of economics, finance, applied quant finance, actuarial science and financial technology in their theoretical and practical setting in a global world and global financial markets. In addition, the department provides interdisciplinary opportunities to combine studies, such as computer science, mathematics and engineering with financial management and technology and risk engineering.
Launched in 2005, the Master of Science in Financial Engineering program was initiated with the generous support of the Alfred P. Sloan Foundation and was the second program of its kind, anywhere. Furthermore, it was the first curriculum to be certified by the International Association for Quantitative Finance that offers a graduate program either on a full-time or part-time basis. The MS in Financial Engineering is a 33-credit program designed to provide students with the skills required to operate at the cutting-edge of financial engineering in today’s financial services industry. The program is rigorous, demanding and selective. Students may choose from one of following tracks, or create their own, as they earn their degree:
Our program is recognized as being at the forefront of research in the financial field with faculty from around the world who are highly ranked by the significance of their contributions. The department is staffed by a number of leading academics and practitioners, and boasts a number of outstanding affiliated professors and cutting-edge traders, hedge fund managers and academics turned practitioners by the lure of Wall Street. This combination of talent, theoretically and practically-based, national and international, provides a first-rate education embedded in answering the real needs of the financial services sector that recognizes the continuous growth of finance, financial insurance and risk engineering, technology, financial engineering and management in an increasingly global world.
The MS program was ranked 5th in May 2015 in a listing of the 25 best financial engineering master’s degree programs in the United States. Compilers of the list, which is available here, used a point-based methodology that considered a school’s innovative program offerings, availability of a concentration, and student engagement in field internships and projects. In October 2015, the program was ranked 16th by QuantNet out of 30 master programs in Financial Engineering, Mathematical Finance and Quantitative Finance in North America. QuantNet’s methodology is based on student selectivity, placement, and employer and peer assessment scores.
The MS program prepares its graduates to enter fast-moving, highly rewarding careers spanning the many occupations prevalent in financial services and related industries. The educational program is continuously updated and adapted to the changing financial environment to enhance the relevance of its content and students’ career opportunities.
Graduates may assume diversified employment positions in the many facets that make up the financial engineering profession. Trading desks, hedge fund and investment managers, CFOs, quantitative professionals, insurance firms, financial technology managers as well as financial and specialized risk managers define the broad set of professions that are open to NYU Tandon School of Engineering’s graduates in financial engineering. The department regularly adapts and updates the program to reflect the changing industry, giving students the necessary competitive edge in the job market. Top employers regularly recruit our graduates for the superior training they have to lead at the forefront of the field. Additionally, the department maintains strong connections with international partners, which include distinguished universities and institutions in locations such as France, Italy and Israel. The global perspective students gain and the relationships they develop exponentially expand their options for the future.
Students have opportunities to acquire new insights and build practical solutions to emerging challenges in the ever-changing world of finance through local and global industry collaborations. Through the Extreme Risk Initiative, the department fosters active collaboration in the comprehensive analysis and assessment of risks as applied to derivatives, credit risk, default models in finance, black swans and rare events finance, global finance and more. Students gain the skills to recognize patterns and develop safeguards when dealing with such events as collapsing markets, influential environmental issues or other major disasters.
Barry S. Blecherman, Industry Professor of Economics and Financial Engineering
Applicants contact the Graduate Center for questions about the application process, application status or to talk to an admissions counselor:
Office of Graduate Enrollment Management and Admissions
NYU Tandon School of Engineering
6 MetroTech Center
Brooklyn, NY 11201
Accepted and enrolled students contact the Department of Finance and Risk Engineering with your academic questions, e.g., courses and curricula.
Department of Finance and Risk Engineering
NYU Tandon School of Engineering
12 MetroTech Center, 26th floor
Brooklyn, NY 11201