Greetings from the Director
The Department of Statistical Sciences is pleased to announce the launch of its new professional Masters of Financial Insurance (MFI) program. The first cohort of students will begin the program in September, 2016 and applications will open shortly.
Traditionally, the finance and insurance worlds are quite distinct, but this distinction is disappearing. Financial firms are taking exposure to insurance risks, insurance companies are providing guarantees to their clients that fundamentally intertwines them with the financial markets, and pension plans provide income guarantees which profoundly link their obligations to the these markets.
A number of exciting, challenging and important problems at the interface of finance and insurance require a new breed of professionals.
The program received final approval from the Ministry of Training Colleges and Universities on Nov 24, 2015 and we are now accepting applications.
The Master of Financial Insurance (MFI) is a professional program that provides students with a sophisticated understanding of this complex interaction of the financial and insurance fields. The program contains a comprehensive set of offerings and students gain rigorous training in statistical science, actuarial science and finance. Graduates from this program will be well armed to face the highly skilled work required of them in the banking, insurance, pension and consulting industries.
The MFI program is a mathematically sophisticated program, and suitable candidates normally hold a Bachelors or Masters degree in a quantitative field such as: actuarial science, statistics, economics, mathematics or engineering. Students should have training in multivariable calculus, linear algebra, probability, statistics, and computation. Additional training in actuarial science, economics and finance will be an asset.
The MFI is a three semester program with the first and second semesters containing course work including substantial group projects. During the third semester, students take on an industrial internship. Courses will be taught by both industry professionals as well as University of Toronto faculty members.
We are extremely excited to launch this new program and look forward to watching it grow and to see the careers of its graduates take flight.