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Mathematical Risk Analysis

Certificate

Degree Type

Certificate

Department

Math & Computer Science Department

As the importance of making calculated, data-driven decisions becomes increasingly important and relevant, the Mathematical Risk Analysis Certificate will provide you with a well-rounded understanding of statistics, probability, and applied mathematics viewed through an actuarial science lens.

Program Overview

A student sits at a table and uses a laptop.

Learn how to use data as a decision-making tool.

Available to both degree-seeking and non-degree seeking students, the Mathematical Risk Analysis certificate program will provide you with a solid foundation in applied mathematics and statistics. The coursework will thoroughly prepare you for the Society of Actuaries Exam P (Probability), so you’re able to bolster your resume with in-demand credentialing and enhance your employability. This 17-credit certificate can be completed in as few as four semesters and serves as a valuable degree addition if you see yourself entering the mathematical finance industry after graduation.

Prepare for a profession

The Mathematical Risk Analysis certificate will equip you with skills that are valuable in any industry, but particularly data analysis and actuarial science.

Program Requirements

At Western, course rotations are crafted to encompass a variety of subject fields for a comprehensive education and versatile degree. For required courses and degree plans, visit the official University Catalog. Below is a general overview of courses at Western Colorado University related to this area of study.

Mathematical Risk Analysis Certificate 

This certificate program will provide any student with a solid foundation in mathematical risk analysis.  The coursework will thoroughly prepare students for the Society of Actuaries Exam P (Probability).  Success on this professional exam typically leads to rewarding careers in actuarial science and other careers involving risk analysis. The Risk Analysis Certificate cannot be combined with the Advanced Level Mathematics Certificate. 

The Mathematical Risk Analysis Certificate consists of the following courses: 

Course List
Code Title Credits
MATH 213Probability and Statistics (GT-MA1)3
or ECON 216 Statistics for Business and Economics
MATH 151Calculus I (GT-MA1)4
MATH 251Calculus II4
MATH 314Applied Probability I3
MATH 414Applied Probability II3
Total Credits17

Careers


Top Skills

  • Analytical Thinking
  • Data Analysis
  • Mathematical Modeling
  • Problem Solving
  • Risk Assessment and Management
  • Statistical Analysis



Career Pathways

  • Actuary
  • Data Scientist
  • Financial Analyst
  • Quantitative Analyst
  • Risk Manager
  • Statistical Analyst

Take the first steps toward your academic and personal growth.

Fostering your intellectual development is the primary focus of every academic program at Western. Our professors and Office of Career Services will help you identify your strengths, hone your skills, define your goals, and prepare for a fulfilling and enriched life after graduation. Wondering how you can apply your program of choice to your intellectual and personal journey? Check out our “What Can I Do With This Major?” tool to explore the diverse opportunities and pathways within any degree program.

Scholarships

Western’s Scholarship Application portal allows you to search for, apply to and manage your scholarship opportunities. This platform houses over 300+ departmental and privately funded scholarship opportunities available to both new and returning students. Through the scholarship portal, students may identify scholarship opportunities based on academic program, campus involvement, academic standing, specific keywords and more. Students may click below to begin learning about what scholarship opportunities are available to them.

Please check individual scholarship opportunity start dates and deadlines as there are exceptions.

Find your scholarships!

Western’s Scholarship Application portal allows you to search for, apply to and manage your scholarship opportunities. This platform houses over 300+ departmental and privately funded scholarship opportunities available to both new and returning students. Through the scholarship portal, students may identify scholarship opportunities based on academic program, campus involvement, academic standing, specific keywords and more. Students may click below to begin learning about what scholarship opportunities are available to them.

Please check individual scholarship opportunity start dates and deadlines as there are exceptions.

Find your scholarships!

Alumni Association Future Alumni Scholarship

The Alumni Association Scholarship is a one-time scholarship of $1,000 and is applicable for the student’s junior or senior year at Western.

Any child or grandchild of an alumni is eligible to receive the Future Alumni Scholarship.

  • This is a one-time non-renewable scholarship of $1,000.
  • Only one Future Alumni Scholarship will be awarded per academic year.
  • GPA must be 3.2 or above (college).

Due date has been extended to April 30 for 2024. An Alumni selection committee, appointed by the Alumni Advisory Council, will review applicants and select awardee by June 1.

Apply

Alumni Legacy Scholarship

The Alumni Legacy Scholarship is a one-time non-renewable scholarship and is only applicable for the student’s first year at Western (incoming freshman or new transfer students are eligible).

Do you have a son or daughter looking at college? Have they considered attending Western? As an alumni, your son, daughter and/or grandchildren are eligible for certain benefits distributed through this scholarship, as follows:

  • This is a one-time scholarship of $1,000.
  • Nominee must be an incoming first-year student or new transfer.
  • The cost of orientation is reduced by half (a $45 value).
  • The admission application fee is waived (a $30 value).
  • GPA must be 2.5 or above (high school or college of transfer).

The applicant must fill out the application form found below. Application forms are accepted year-round. If the applicant meets the GPA guidelines, the scholarship will be awarded.

Apply

Mountaineer Alumni Recommendation Scholarship

The Mountaineer Alumni Recommendation Scholarship is a one-time non-renewable scholarship and is only applicable for the student’s first year at Western. This scholarship is not available to midyear transfers or students beginning in the spring semester.

Are you an alumni or employee of Western and know a prospective (or incoming) student who would be a great fit at Western? A recommendation from alumni and employees can support any new student and provide them a $500 scholarship their first year. (Western employees may not recommend a spouse or dependent receiving tuition benefits).

  • Any Western alumni/employee may nominate only one student per academic year to receive the $500 scholarship (distributed $250 per semester).
  • The scholarship is good for the first year only and is non-renewable.
  • The recommended student must be a full-time undergraduate student, attending Western for the first time.

The applicant must fill out the application form found here. The nominating alumni/employee must fill out the application form and submit the required documents by June 1. The recommended student must meet university admissions acceptance standards and complete the Free Application for Federal Student Aid (FAFSA).

The Presidential Promise is guaranteed to students who have received a scholarship through the Denver Scholarship Foundation (DSF) and/or GearUp—and are eligible for a Pell Grant.

For students who meet these criteria, Western will cover the cost of tuition and fees through the combination of federal, state and institutional aid. For more information on the Presidential Promise, visit our scholarships page.

Western Undergraduate Exchange (WUE) or Central Plains (CP) tuition represents a substantial savings relative to normal, out-of-state tuition. Students eligible for the WUE or CP program will be charged 150% of Western’s total in-state tuition. For 2018-19, total in-state tuition was $8,934. WUE/CP tuition was $13,401. The WUE/CP discount is valued at $4,695.

For more information about the WUE and CP geography-based programs, visit Western’s Tuition Discount Programs Page.

Immediately upon acceptance at Western, every student is considered for a merit scholarship worth between $2,500-$4,500 per year for in-state students and $8,000-$10,000 for out-of-state students. The amount is based on the student’s GPA and ACT/SAT scores. Visit our Net Price Calculator at western.edu/cost to determine whether you qualify for a merit scholarship.

For more information about merit scholarships at Western, visit our scholarships page.

Get Involved.

Mathematical Risk Analysis

Make your time at Western a transformative experience.

  • Conferences: Students and faculty travel to two conferences each year.
  • Seminars: Faculty show what they have been working on and students present their research projects.
  • Tutoring Jobs: Available to students interested in teaching others and mastering basic principles.
  • Lambda Learning Center (LLC): The LLC exists to provide academic support for math, computer science, and engineering, as well as to facilitate student learning beyond the classroom. Students, tutors, and professors get together and create a culture centered not only around understanding and mastering STEM-related coursework, but also exploring new ideas in STEM and building community.

Applied experience

The Mathematical Risk Analysis certificate will provide you with both classroom and practical knowledge, providing a holistic understanding of certificate materials.

Department Information

Math & Computer Science Department

Department Chairperson

Jeremy Muskat, Ph.D.

Chair of Mathematics and Computer Science, Professor of Mathematics

Rady Building Administrative Assistant

Kelley Jones

Administrative Assistant III

Campus Location

Rady Building 272

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