University College Dublin

Quantitative Finance

The MSc in Quantitative Finance is a balanced programme of finance and computational methods, which will suit numerate, competitive students looking for careers in finance that stretch their quantitative talents.

Ambitious students with an educational background in Economics, Finance or STEM (Science, Technology, Engineering, and Mathematics) subjects and with a proven quantitative talent will be ideally suited to this programme.

This course covers a broad range of subjects related to the mathematical modelling of financial markets and the pricing and hedging of financial securities. The course equips you with the necessary theoretical, mathematical and computational skills needed to pursue a career in quantitative finance. If you are a competitive student looking for a career in finance that will use your quantitative talents to the full, this is the course for you.

For graduates wishing to pursue further the theoretical dimension to the discipline, the curriculum content provides the perfect basis for a Ph.D. in Finance.

The course was awarded Risk Management Accreditation by the Professional Risk Managers International Association (PRMIA), confirming the suitability of the course for preparing graduates for a career as professional risk managers. Graduating students obtain exemptions to PRMIA level 1 and 2 exams.

The programme can be undertaken on a part-time basis, thus enabling current professionals with the relevant background to combine working life with study. However, if you are in full-time employment, employer support is essential to undertake the part-time option as it requires class attendance and some work on group assignments during the working day.

What will I learn?
The course achieves the ideal balance between financial and computational theory and methodology, thereby enabling graduates to critically analyse and develop financial decision-making and risk management tools but also understand specific quantitative models and strategies applied in financial markets.

1. Acquisition of the theoretical, analytical and practical skills needed to manage portfolios of equity, fixed income and derivative securities and develop the tools for managing corporate financial risk.

2. Assimilation of implementation methods for financial models using various programming languages and the application of critical evaluation techniques to the performance of models.

3. The ability to carry out independent research on the uses of financial models, their implementation and their limitations.

How will I benefit?
The course not only attracts graduates from a number of different backgrounds but can also be tailored to a wide variety of academic and professional objectives, providing an enviable array of career options upon graduation.

• A truly specialist preparation for a future career within the finance industry, in a variety of functions including funds management, investment banking, financial engineering and corporate treasury management.

•In the summer term, students can choose from some summer term modules, or a research project, or in a small number of cases, from a limited number of possible internships. With any possible internship opportunity, students may have to go through a competitive process for these, including potential interviews.

•Exemption from Professional Risk Managers certification examinations, the global standard for the world's top financial risk professionals.

Course features
Industry recognition and endorsement – the course was awarded Risk Management Accreditation by the Professional Risk Managers International Association, confirming the suitability of the course for preparing graduates for a career as professional risk managers.

A customisable curriculum – the course is available in three made-to-measure "streams": 12 taught modules, research + major project, or modules + internship.

Possibilities within academia – for graduates wishing to pursue further the theoretical dimension to the discipline, the curriculum content provides the perfect basis for a Ph.D. in Finance.

Entry requirements

An honours bachelors degree in:
a. Business/Commerce to include a number of quantitative subjects such as Economics or Finance
or
b. a Finance-related-area, Mathematical Finance, Economics, Mathematics, Statistics, Computer Science, Engineering or Physics

with a minimum 2.1 award at NFQ Level 8 (or international equivalent) in a. or b. above.
and
Applicants should have demonstrated strong academic ability (a 1.1 or 2.1) in a number of quantitative modules in their degree, such as mathematics, statistics, or econometrics.
and
Candidates may be asked to sit the Graduate Management Admissions Test (GMAT) subject to individual application.

English Language Requirements
If English is not your first language an English language qualification is required for admission to all of our courses. The exception to this rule is if you have completed your primary degree or an entire third level qualification through English, in an English speaking country.

Visa Requirements
Some students might have to get a student visa in order to come and study in Ireland. Please check the Irish Naturalisation and Immigration Services website to see if you require a visa.

Duration

1 year full-time, 2 years part-time.

Careers or further progression

The MSc in Quantitative Finance from UCD Michael Smurfit Graduate Business School is highly regarded within the financial services industry.

Potential careers for our graduates include:
•Investment banking
•Portfolio management
•Trading
•Quantitative analyst
•Risk manager
•Data Scientist

The UCD Smurfit Career Development Centre team will work with you to define your career path and support you in developing the career-related skills, know-how, and confidence to pursue your post-MSc career goals.

Our holistic programme is designed to support you at key points in your career development. Our programme is structured into three key stages, designed to support you in building and driving your own career.

A variety of workshops, events, one-to-one career appointments and access to a range of online tools and resources prepare you for future opportunities.

Further enquiries

Email: smurfitschool@ucd.ie
Tel: +353 1 716 8934

Subjects taught

The 12-month, full-time course covers a broad range of disciplines and skill sets, whilst the personal and professional development of each student is achieved through a defined series of actions and events.

To complete the programme, students must complete ten core modules. In the summer term students can complete a research project, two option modules or in a small number of cases, apply for a limited number of possible internships. With any possible internship opportunity, students have to go through a competitive recruitment process, including interviews with employers to be selected.

Semester 1
•Capital Markets and Instruments
•Derivative Securities
•Financial Analysis
•Financial Econometrics
•Financial Theory
•Quantitative Methods for Finance

Semester 2
•Advanced Derivative Securities
•Advanced Statistical Computing Methods for Finance
•Fixed Income Securities
•Numerical Methods for Finance
•Portfolio & Risk Management

Summer Term

•Ethics in Financial Services

Students choose one of the Pathways below:

Pathway A: choose two modules from the list below

•Advanced Treasury Management
•Financial Technology
•Mergers and Acquisitions
•Aircraft Finance
•Behavioural Finance

Pathway B: Applied Investment Management (Internship)

Pathway C: Research Project

Note: option modules listed are indicative of what has been delivered in previous years. What is offered each academic year is subject to change.

Comment

Student profile
Ambitious students with an educational background in mathematics or economics and a proven quantitative talent will be ideally suited to this course, as well as statistics, physics, computer science or engineering students capable of going through mathematically rigorous finance training. If you are in full-time employment, employer support is essential to undertake the part-time option as it requires class attendance during the working day.

Application date

1. Collating Documentation
The first step is to collate the required documentation needed to assess your application. Please ensure that you have clearly scanned, titled and collated your documents in numerical order.

These can include but are not limited to:
Transcripts
CV
English Language Test
References
Additional Documentation

Step 2: The Application Process
Once you have collated the required documentation and reviewed the entry requirements for your programme of interest, you can now apply online.

You must apply online using our dedicated student information portal. You will be required to enter contact details, upload your documents and answer two essay questions (each approximately 300 words). We would ask that you seriously consider both essays and answer these in the context of the programme you are applying to. Try to not replicate your CV and demonstrate what makes you different from other applicants. There are no right or wrong ways to complete these essays.

Application Deadlines:
We are open for applications for the academic year 2020/21. Applications are assessed on a rolling basis and courses will close once they are filled. We advise you to apply as early as possible to avoid disappointment. Please note certain scholarships may require you to apply before a certain date – please refer to our scholarship page here. If you have any questions in relation to deadlines or availability please email smurfit.admissions@ucd.ie.

(Note: The application deadline for the MSc Marketing Practice is March 31st 2020)

Application fee:
You will then be asked to submit your application and pay the €50 application fee. No application can be assessed until the fee has been paid. You can apply for multiple programmes with the one application fee, but please be sure to mark your preferred course.

Once submitted, it usually takes 2-3 weeks before a decision is made on fully completed applications. This time period can sometimes be longer and can vary at different times in the year and in different regions. We may offer you a conditional place based on the completion of a number of criteria, such as degree, English test, or another qualification. This reserves you a place on the course and once you have fulfilled this criteria we will issue you a full offer.

Acceptance is completed by paying a non-refundable deposit (varies from either €500 or €1000 depending on the programme. Most of our programmes require a €500 deposit). Your offer email will detail the exact deposit amount required. Once you have accepted you will then be supported by the Programme Office who will contact you with further course and start details.