The NWU Centre for Business Mathematics and Informatics® is a leading tertiary risk training and research group for the financial services industry. It boasts:
- an extensive corporate client footprint in the financial services industry in Africa;
- collaborative relationships with clients involving a spectrum of industry directed research projects;
- a globally recognised quantitative risk management programme (accredited by PRMIA);
- globally recognised actuarial and business analytics programmes;
- international accolades for risk research;
- the banking industry’s preferred talent source for risk and business analytic talent;
- consistently high client satisfaction and recommendation levels.
The Centre for BMI offers four training courses that focus on the financial services sector, namely;
- Actuarial Science
- Business Analytics/Data Mining/Data Science
- Financial Mathematics
- Quantitative Risk Management
All these fields are built on the foundation laid by the mathematical sciences (e.g. Statistics, Mathematics and Operational Research) as well as the economic and information sciences.
The Actuarial Science programme is accredited with the Institute/Faculty of Actuaries in the UK and the Actuarial Society of South Africa. Recently the Quantitative Risk Management programme received accreditation status from the Professional Risk Manager International Association (PRMIA) for Levels I and II of their Professional Risk Managers (PRM) qualification. NWU is the third university world-wide, and the first in Africa, that received accreditation status from this internationally-recognised professional body.
The quality assurance processes of the NWU require that academic programmes be externally evaluated every five years. During 2014, the MSc BMI (with specialisations in Quantitative Risk Management, Financial Mathematics and Business Analytics / Data Science) was evaluated by an eminent international panel consisting of, amongst others, Paul Sweeting (an actuary from the University of Kent and Deutsche Bank), Sandjai Buhlai (a data scientist from the Free University in the Netherlands) and Paul Fatti (Chairman of the panel and emeritus professor from Wits). The panel of industry and academic representatives, comprising eight members, awarded the MSc programme the highest possible assessment: a commendation. This is the second time that the BMI training and research programmes have received this rating from an evaluation panel, providing testimony of its excellent quality.