UNIVERSITY OF WATERLOO · CANADA
Mathematics/Financial Analysis and Risk Management (FARM)
Bachelor's · Taught in en
At a glance
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Duration
6.5
IELTS
—
Tuition / yr
en
Language
Bachelor's
Level
- Bachelor of MathematicsDegree Awarded
- CFA Institute & PRMIA RecognizedAccreditation
- Specializations in CFA or PRMProfessional Paths
- Co-op or Regular Program AvailableProgram Structure
- 40 CoursesProgram Length
The Financial Analysis and Risk Management (FARM) program at the University of Waterloo equips students with strong mathematical, statistical, and analytical skills essential for careers in finance. This challenging program integrates mathematics, statistics, and computer science with business-focused courses like corporate finance, asset pricing, microeconomics, and macroeconomics. Graduates are prepared for roles in financial analysis or risk management and can pursue professional designations such as the Chartered Financial Analyst (CFA) or Professional Risk Manager (PRM).
Curriculum
The program blends core mathematics and computer science with finance and economics. Students can specialize in either Chartered Financial Analyst (CFA) or Professional Risk Management (PRM) pathways.
- First Year
- Classical AlgebraMATH 135/145
- Calculus 1MATH 137/147
- Computer ScienceCS 115/135/145
- Introduction to Financial MarketsCOMM 101
- A communications course
- Upper Years
- Introduction to OptimizationCO 250
- Money and Banking 1ECON 206
- Computational Methods in Business and FinanceCS 335
- Portfolio Optimization ModelsCO 372
- Risk ManagementMATBUS 372
Careers
Graduates are prepared for a wide range of roles in the financial sector. The program's strong analytical foundation and optional specializations open doors to various career paths.
- Financial Analyst
- Asset/Liability Manager
- Credit Risk Manager
- Sr. Financial Analyst
- Operational Risk Modeling Analyst
- Analyst
- Business Intelligence Consultant
- Assistant Fund Manager
Frequently asked questions
- What are the academic qualifications needed for the Mathematics/Financial Analysis and Risk Management (FARM) program?
- You need successful completion of secondary school education with a strong focus on mathematics and related subjects to receive a High School Diploma. Specific requirements for international applicants, including English proficiency, can be found in the applicant portal.
- What English language proficiency tests are accepted, and what are the minimum scores?
- The University of Waterloo accepts IELTS Academic with a minimum overall score of 6.5, and 6.0 in each component. TOEFL iBT is accepted with a minimum overall score of 90 and 25 in writing and speaking for tests completed before January 21, 2026.
- How do I apply to the FARM program as an international student?
- International students apply directly through the University of Waterloo's applicant portal. You will need to complete the Declaration of Academic Experience and submit required documents like official transcripts and English language test scores by the deadline.
- Where can I find information on tuition fees for international students?
- Tuition fee estimates for international students are available through the University of Waterloo's Tuition Fee Estimator tool. These estimates are based on the most recent approved rates and assume a Fall start.
- What are the career opportunities after graduating from the FARM program?
- Graduates are prepared for roles such as Financial Analyst, Asset/Liability Manager, Credit Risk Manager, and Business Intelligence Consultant. The program's analytical foundation also supports pursuing professional designations like CFA or PRM.
- What is the duration of the Mathematics/Financial Analysis and Risk Management program?
- The program consists of 40 courses and can be completed as a Co-op or Regular program. Specific duration will depend on the chosen study path and course load.
Entry requirements
High School DiplomaSuccessful completion of secondary school education with a strong focus on mathematics and related subjects.
IELTS Academic6.5 overall with 6.0 in each component (6.5 writing, 6.5 speaking, 6.0 reading, 6.0 listening)
TOEFL iBT90 overall with 25 in writing and 25 in speaking (for tests completed before Jan 21, 2026)
Applicants whose first language is not English and who have not studied for four consecutive years in an English-language school system may need to provide proof of English proficiency. Exceptions may apply for students who have completed significant portions of their education in Canada or other English-speaking countries. Consult the applicant portal for specific requirements.
Fees
Tuition (international)Tuition fee estimates are available through the University's Tuition Fee Estimator tool. International applicants should use this tool to generate an estimate for their study permit application.
Tuition (home)Tuition fee estimates are available through the University's Tuition Fee Estimator tool.
LivingLiving costs (off-campus housing, groceries, textbooks, etc.) are not included in the Tuition Fee Estimator and should be budgeted separately.
Tuition fees are subject to change and are assessed based on residency status. Estimates are based on the most recent approved rates and assume a Fall start. Costs for preliminary English language training programs are not included in degree estimates.
How to apply
1. Apply OnlineSubmit your application through the University of Waterloo's applicant portal.
2. Complete Declaration of Academic ExperienceOnce you've applied, fill out the Declaration of Academic Experience in the applicant portal to determine if you need to submit English language test scores.
3. Submit Required DocumentsEnsure all required academic transcripts and English language test scores (if applicable) are sent directly from the issuing institutions to the Registrar's Office by the document deadline.
4. Check Program-Specific RequirementsSome programs may have additional requirements such as work samples or interviews, though this is not specified for FARM.
Accreditation
Recognized by the CFA Institute and the Professional Risk Managers' International Association (PRMIA).
Frequently asked questions
What are the academic qualifications needed for the Mathematics/Financial Analysis and Risk Management (FARM) program?
+
You need successful completion of secondary school education with a strong focus on mathematics and related subjects to receive a High School Diploma. Specific requirements for international applicants, including English proficiency, can be found in the applicant portal.
What English language proficiency tests are accepted, and what are the minimum scores?
+
The University of Waterloo accepts IELTS Academic with a minimum overall score of 6.5, and 6.0 in each component. TOEFL iBT is accepted with a minimum overall score of 90 and 25 in writing and speaking for tests completed before January 21, 2026.
How do I apply to the FARM program as an international student?
+
International students apply directly through the University of Waterloo's applicant portal. You will need to complete the Declaration of Academic Experience and submit required documents like official transcripts and English language test scores by the deadline.
Where can I find information on tuition fees for international students?
+
Tuition fee estimates for international students are available through the University of Waterloo's Tuition Fee Estimator tool. These estimates are based on the most recent approved rates and assume a Fall start.
What are the career opportunities after graduating from the FARM program?
+
Graduates are prepared for roles such as Financial Analyst, Asset/Liability Manager, Credit Risk Manager, and Business Intelligence Consultant. The program's analytical foundation also supports pursuing professional designations like CFA or PRM.
What is the duration of the Mathematics/Financial Analysis and Risk Management program?
+
The program consists of 40 courses and can be completed as a Co-op or Regular program. Specific duration will depend on the chosen study path and course load.