The contemporary history of Finance Department started with its establishment with a decision of the Academic Council of UE-Varna from December 15, 1989. In the period 1989-1999 it was headed by prof. Tsvetan Kotsev, and from June 1999 – by prof. Stefan Vachkov. Until 2013 the department had the name from the period before 1956 – Finance and Credit. With a decision of Academic Council of UE-Varna from April 25, 2013 it was renamed to Finance Department.
The academic staff of the department includes 24 lecturers, 16 of them are doctors in economics. There are 1 professor and 10 associate professors in the distinct directions of finance. Five lecturers occupy the academic position "chief assistant", and eight are assistants.
The first class of students in the new history of the department was accepted in the academic year 1990-1991 in program Banking – the only program in Bulgarian higher schools of economics back then. A lot of students were fellows of commercial banks. One year later program Finance was established. From the academic years 1997-1998 to 2004-2005 was taught one wide-profile program Finance with specialization in two modules: Banking and Public Finance.
Program Finance is among the most preferable and holds one of the first places for exam entry level in UE-Varna. Until now, educational qualification degree "Bachelor" has been awarded to more than 3500 students, including students from Russia, Moldova, Ukraine, Macedonia, Greece, Cyprus, Kazakhstan, and Turkey.
From the academic year 2016-2017 Finance Department introduces new major – Insurance and Social Security, in response to dynamic market environment and increased requirements for closer linking of higher education with the needs of the business. It aims to prepare specialists and leaders in insurance business, public insurance and private insurance institutions in Bulgarian and member states of the European Union.
Education in Master degree in Finance Department started in the academic year 1996-1997. That was the first department at UE-Varna, which offered three master programs: Bank Management; Corporate Finance; and Public Finance. 1500 students have been graduated from those programs.
The students’ training is carried out in accordance with European standards for quality of education. An essential role for that has the computer office in the department, in which are conducted seminars with the support of specialized software.
Finance Department provides training of PhD students. Since 2002 eleven doctoral dissertations have been defensed.
Permanent priorities of the academic staff of the department are professional preparation of students, the formation of needed practical skills and extensive financial culture among them. In October 2012, on the initiative of students from major Finance was established Club Finance. Its mission is to unite young and interested people, who can enrich their knowledge, to form interests and to achieve affective professional realization in banking sector, in sphere or corporate, public and local finance.
A lot of graduates from the department hold responsible positions in prestigious Bulgarian and foreign banks, financial institutions and corporations. Others develop successful academic career in the country or abroad.
The department lecturers participate in remarkable research projects, among which is the first monograph in the series Library "Tsani Kalyandzhiev", comprehensive study of financial freedom in the sphere of investment, banking, financial institutions and fiscal sector, etc. Distinct research teams and authors have published a considerable number of monographs, papers and research articles, which do not have an analog in Bulgarian scientific literature regarding their actuality and creative contributions.
Since the autumn of 2014 as part of the department functions Center of Financial Research and Development. Its aim is to motivate, support and coordinate research activities in the university in the sphere of finance, by creating scientific and applied products, participating in national and European projects, consulting and publishing.
Finance Department carries out fruitful cooperation with similar universities in Bulgaria and abroad. Successful and useful contacts are maintained with representatives of the Ministry of Finance, the Bulgarian National Banks, commercial banks, the Municipality of Varna, Atanas Burov Foundation, insurance companies, pension and investment funds and other financial institutions.