The use of mathematical tools and techniques to solve financial problems is the focus of the field of financial mathematics. Statistics, probability, stochastic processes, and economic theories are all borrowed tools in this field which is interlinked with business studies and economics. 

Financial mathematics depicts the utilization of math to solve monetary issues. It is also known as quantitative finance. Commercial banks, investment banks, and insurance agencies apply the techniques of financial mathematics to issues such as securities valuation, portfolio organizing, and risk management. It is also used in commodities-based industries.

In the past, there has been a significant rise in the use of mathematics and statistics in finance, and this is expected to continue. Financial mathematics is used by a wide range of businesses and service providers in the financial sector and quantitative approaches will continue to be used in the markets' efforts to improve efficiency. A degree in mathematics and specifically financial mathematics offers the challenge of combining the study of mathematics and economics with statistics. Students who graduate will have access to numerous career opportunities when they go out into the workforce.

Study Levels:

Within financial markets, financial mathematics has expanded and become significantly more prevalent. The different study levels that are available within this sub-discipline are:

• B.Sc. Financial Mathematics
• B.Sc. Mathematics and Applied Mathematics
• B.Sc. Mathematical Science
• M.Sc. Mathematical Finance
• Master in Financial and Insurance Mathematics
• M.Sc. in Mathematical Finance
• MSc in Financial and Computational Mathematics
• M.Sc. in Mathematical and Computational Finance
• M.Sc. in Mathematical Finance and Financial Technology
• Ph.D. in Financial Mathematics

Specializations:

Financial mathematics was created as a specific field within economics to handle the issues of the valuation of resources and financial instruments, as well as enhancing capital assets. Through mathematical models, fundamental theories about the economy as a whole and asset valuation have been developed over decades.

This sub-discipline is right for students who want to put their mathematical curiosity to use in the finance industry. The pricing of financial derivatives, portfolio risk analysis, and better understanding and prediction of financial markets are all areas of mathematical finance's focus. It is one of the most recent business specialties. The different specializations are:

• Accounting
• Auditing
• Derivatives
• Economics
• Finance
• Probability Theory
• Statistical Analysis
• Taxation

Employability:

Financial mathematics careers are dynamic, fast-paced, and challenging. It is a diverse profession where abilities can be applied across various ventures all over the world. Quantitative principles will continue to be widely used in finance. Markets look to turn out to be more effective after some time and more quantitative practices and systems will be created to make markets more efficient.

In order to succeed in a career in financial mathematics graduates need the mental capacity to comprehend and master abstract and complex mathematical concepts. the capacity to deal with and manage multiple challenges as they arise, as well as the endurance to work under the pressure that comes with operating in a sector that is constantly changing. There are plenty of positions in this field. The various options for careers include:

• Data Scientist
• Quantitative Analyst
• Market risk Analyst
• Financial Software Developer
• Financial Manager
• Investment Analyst
• Teacher/Professor
• Business Analyst
• Actuary

Consultant