Jim White '14 Presents "Consider the Risk" at the Marist College Mathematics Seminar
Upon graduating from Marist with a B.S. in Applied Mathematics, I felt well prepared to enter the business workforce. However, I was uncertain specifically in which field I wanted to begin my career. I began applying for analyst positions in various industries while simultaneously researching masters programs. I stumbled upon UConn's M.S. in Financial Risk Management (FRM) largely by chance. I have since fallen in love with risk management and thought that other Marist mathematics students might also be interested in this field. That is why I decided to come back to Marist to speak about quantitative techniques within risk management and about UConn's FRM program.
Risk management involves the analysis of historical data as well as forecasting future trends. In addition to implementing quantitative models, risk managers must effectively communicate the results of their analysis to management. This includes identifying which risks should be mitigated and how the firm can do so using diversification and hedging techniques. One of the primary goals of risk management is ensuring that a firm has sufficient funds to remain in business and make value-enhancing investments.
I feel that majoring in mathematics has put me at an advantage in my graduate program. Coming into the program with a well-rounded tool box of quantitative skills was definitely beneficial. It was also helpful knowing how to confidently approach and methodically solve a difficult problem. In my opinion, it is definitely easier to catch up on the financial terminology and practices than it is to learn the mathematical skills necessary for success in such a graduate program.
I also feel that studying mathematics at Marist, in particular, helped prepare me thoroughly for my graduate studies. Being an undergraduate at Marist taught me how to study for quantitatively intensive exams, how to work effectively in groups, and how to clearly present technical material.
The Marist Mathematics program equips students with a strong quantitative foundation. Masters programs, such as UConn's FRM program, provide a framework for the business application of such a mathematical foundation. I highly encourage any Marist mathematics student who intends to enter the business sector to consider pursuing a masters in risk management or a similar field. In my research of graduate programs, I have found similar M.S. programs in Data Analytics, Financial Mathematics, and Actuarial Science.
Jim is currently a graduate student in the University of Connecticut M.S. degree program in Financial Risk Management (FRM). Jim was joined by Laurissa Berk, UConn FRM Program Manager.