The Master of Mathematical Finance (MMF) program at Illinois Tech is a professional (non-thesis) interdisciplinary program offered jointly by the Department of Applied Mathematics in the College of Science and the Stuart School of Business.
The MMF program provides individuals interested in pursuing careers in financial risk management with advanced education in theoretical, computational, and business aspects of quantitative methodologies relevant to the financial industry.
MMF alumni are employed by such companies as CME Group, Citigroup, Discover Financial Services, Envestnet, Goldman Sachs, Intercontinental Exchange (ICE), JPMorgan Chase & Co., Morgan Stanley, OCC, PrivateMetrics Group, and Quantitative Risk Management, Inc. (QRM).
Superior quantitative education
The MMF program provides a superior quantitative education for those who are pursuing careers in quantitative analysis and financial engineering. Well-regarded faculty include both renowned academic researchers who advance knowledge in the field of mathematical finance, and respected business professionals who are in quantitative analysis leadership positions at such firms as QRM and Cognitive Capital LLC.
MMF students are immersed in the quantitative principles of valuation and hedging of financial securities. The quantitative core of the program is based on the theory of stochastic process and stochastic calculus, mathematical and computational finance, as well as advanced numerical and simulation methods.
Ideal balance of theory and practice
The MMF program at Illinois Tech offers an ideal balance of theoretical knowledge and practical application. Students have the opportunity to learn from the professors affiliated with the Department of Applied Mathematics and with the Stuart School of Business, as well as from adjunct professors who are financial practitioners providing practical insight into fixed income modeling and practice, computational methods in quantitative finance, trading strategies, and more.
Based in Chicago, a vibrant financial community
Chicago has been a vibrant financial community since after the Civil War. It is home to prominent financial exchanges, some of the nation’s major banks, hedge funds, investment firms, and insurance companies. Mathematical finance students' research and internship experiences, as well as their future employment opportunities, are enriched by the resources available in Chicago.