Financial engineering is the application of mathematical methods to the solution of risk management problems in finance. Financial engineering uses tools from finance, applied mathematics, computer science, statistics and economic theory. Investment banks, hedge funds, insurance companies, corporate risk managers and regulatory agencies apply the methods of financial engineering to such problems as derivative securities valuation, risk management, strategic planning and dynamic investment strategies. As the pace of financial innovation increases, the need for highly qualified people with specific training in financial engineering intensifies.

Kent State is committed to partnering with corporations, foundations and the investment banking industry to meet the need for financial engineers. We are the only institution in Ohio to offer a Master of Science in Financial Engineering (MSFE). The program is administered by both the Finance and Mathematics departments. Our state-of-the art on-campus Olga Mural Financial Engineering Trading Floor simulates market trading conditions and provides hands-on training in financial analysis and risk management. The trading room includes 25 high-end PC stations, specialized software and on-site technical support, and is a key component of the new interdisciplinary financial engineering master's program.

The interdisciplinary Master of Science in Financial Engineering (MSFE) degree is designed for students with strong quantitative backgrounds who have goals of becoming risk management officers, derivatives analysts or traders. The program is a demanding one and it requires the completion of 36 credit hours of coursework, including an industry-based project. It combines strong quantitative skills from mathematics, including probability theory and numerical computing, with risk management and dynamic valuation skills from finance. In addition it draws on tools from applied mathematics, computer science, statistics, and economic theory. Investment banks, hedge funds, insurance companies, corporate treasuries, and regulatory agencies apply the methods of financial engineering to such problems as derivative securities valuation, portfolio structuring, risk management, and scenario simulation. The program emphasizes applied skills in the area of financial engineering, while still providing the necessary theoretical background. The suggested coursework fits within the guidelines established by the International Association of Financial Engineers.

The Master of Science in Financial Engineering is approved by the Ohio Board of Regents.