During the past decade advances in technology and telecommunications have allowed financial firms to employ quantitative and the mathematical and computational methods of asset pricing, portfolio management and risk control to better manage their core businesses. Responding to this demand, dozens of mathematics departments in elite universities around the world have formed professional degree programs - called variously financial mathematics and financial engineering - designed to give students a rigorous quantitative and computational background in finance. The increasingly sophisticated methodologies employed to trade in global financial markets have been met with an increasingly sophisticated set of students.

The IAFE Education Committee seeks to be a collaboration between industry and academic representatives defining the core set of knowledge that comprises financial mathematics and financial engineering while increasing awareness within industry and academia.

Awareness
We seek to build awareness with human resources personnel, business group heads and educators about the field of financial mathematics and financial engineering and the academic opportunities available in Masters Degree programs offering degrees in Financial Engineering and
Financial Mathematics.

Of particular interest will be building awareness among undergraduate students of the possibility of continuing
education in financial mathematics and financial engineering degree programs and among recruiters and human resources personnel concerning recruiting from such programs.

Quality
The Education Committee will seek to recommended core curriculum and knowledge to be included in financial mathematics and financial engineering programs covering the key areas of:

a. Financial theory
b. Mathematical and statistical theory
c. Computing theory and techniques
d. Core product and business knowledge

In seeking to fulfill its mission, the Education Committee has already designed a frequently asked questions document for students, educators and employers, to answer basic questions about the field of financial engineering/financial mathematics.