Financial Mathematics and Actuarial Research

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B.S. in Financial Mathematics and Statistics

Financial Mathematics and Statistics focuses on the pricing and hedging of financial assets, portfolio management and the evaluation of financial risks, insurance applications. The tools of modern financial analysis rely on a thorough understanding of economic theory, mathematics, probability and statistics.

The BS major in Financial Mathematics and Statistics (FMS) at UCSB is unique to California and one of the very few such programs in the nation. The major was opened in Winter 2004 as a joint major between the Department of Statistics and Applied Probability and the Department of Mathematics, with the cooperation of the Department of Economics. The major is already a remarkable success: in Fall 2014, 322 students were pursuing FMS pre-major.

This challenging and highly rewarding degree prepares students for careers in diverse areas of the financial industry or for graduate school. Past program graduates were hired by Merrill Lynch, Fisher Investments, etc, while others continued into graduate school. In fact, the Department of Statistics and Applied Probability recently introduced the PhD Emphasis in Financial Mathematics and Statistics, focusing on research.

Some of the strongest undergraduates in the FMS major are supported by The Robert and Barbara Lowes Scholarships. There are opportunities for FMS undergraduates to pursue summer internships or directed studies with faculty at the Center for Research in Financial Mathematics and Statistics (CRFMS). (link to ).