MSc in Computational Finance

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Overview
Course Structure
Entry Requirements
Delivery
Graduates & Careers

OVERVIEW

Course Director: Dr. Bernard Murphy
e: bernard.murphy@ul.ie
t: +353-61-202134

Course Administrator: Kathy Ryan
e: kathy.ryan@ul.ie
t: +353-61-234389

The MSc in Computational Finance (MSc CF) is a technically-oriented 12-month, full-time programme which has been designed to balance theoretically rigorous coursework with a practical emphasis on the acquisition of advanced technical skills combined with an intuitive understanding of the dynamics of risk in financial markets.

Why should you consider the MSc in Computational Finance?

Live trading floor experience: the majority of modules are delivered in the KBS Trading Floor using the Bloomberg platform.
Graduate placement and employment prospects continue to be exceptional with major international firms like Deutsche Bank, Pioneer Investments, Susquehanna, AIB Financial Risk, ESB International and Commerzbank Wealth Management. Global leaders in the financial derivatives software sector, such as First Derivatives, Murex, Lacima and Fincad, actively recruit from the programme for roles such as Financial Engineer, Quantitative Developer, Risk Analyst, Wealth Manager, Structuring and Trading Operations roles.
In addition to an outstanding placement service offered by the University’s Careers Office, graduate placement prospects have been further enhanced with the establishment of a LinkedIn Group for students and alumni of the MSc Computational Finance programme. The site is regularly updated with announcements of job opportunities by alumni and employers, and can be accessed by students who have registered on the programme.
Students will be able to avail of an accredited Trading Floor Certification exam, and an extra-curricular Bloomberg Aptitude Test (BAT) both of which will be invigilated in the University’s state-of-the-art campus Trading Floor. Details of student performance on the BAT test are stored in a Bloomberg database and can be accessed directly by global financial institutions who subscribe to Bloomberg. Completion of the Trading Floor Certification module and the Bloomberg Aptitude Test can therefore considerably enhance the international employability of graduates of the MSc in Computational Finance programme.

COURSE STRUCTURE

Autumn Semester	Spring Semester	Summer Semester

Corporate Responsibility	Core Electives – Choose 1 International Economic Issues Project Management Leadership, Influence & Change	Dissertation in Finance 1
Implementing Market Models		Dissertation in Finance 2
Dynamic Asset Pricing Theory		International Business Workshop
Derivative Markets
Trading Floor Certification
Research Methods in Finance 1


	Mandatory Modules Fixed Income Models Credit Risk & Derivative Products Portfolio Risk Analysis Research Methods in Finance 2





	Electives – Choose 1 Wealth & Portfolio Management Financial Engineering Financial Regulation Modelling Risk in Nature & Industry Econometrics

ENTRY REQUIREMENTS

Applicants will possess a minimum 2:2 honours primary degree in a relevant discipline. The MSc in Computational Finance is aimed at highly numerate graduates from Ireland and abroad with a background in a discipline such as Economics and Finance . However, students from cognate backgrounds are also encouraged to apply: based on positive feedback from employers and recent alumni experiences, graduates from Engineering, Mathematical Sciences (financial mathematics, actuarial finance, statistics and/or applied probability theory), or Computer Science programmes are in particular encouraged to apply for entry to the programme. An interview may form part of the application process. Applicants who cannot satisfy the minimum 2:2 honours primary degree requirement may be accepted on the basis of relevant professional experience.

In the case of international students, applicants must hold a qualification that is equivalent to an Irish or UK honours bachelor's degree (NQAI level 8). The degree must be in a discipline relevant to the postgraduate degree sought. To find out if you have the correct qualifications to apply for a programme at UL check the specific requirements for your home country.

Where candidates are non-native English language speakers, the candidate should meet the University’s English Language Requirements.

DELIVERY

The MSc in CF programme has been acknowledged by its academic external examiners as being academically rigorous consistent with the best international standards for peer-group programmes. Delivered with a strong focus on experiential-learning, backed-up with extensive priority access to a state-of-the-art Bloomberg-equipped campus Trading Floor, the programme has in addition acquired a reputation for being particularly innovative and industry-facing in its delivery mechanisms by prospective employers in the international financial services industry.

Teaching of key modules is also informed by the ‘translational’ or industry-relevant research programmes of faculty. In the case of Finance faculty engaged on the MSc in Computational Finance programme for example, some of this research has been funded by competitive grants from State Agencies such as Enterprise Ireland’s Innovation Partnership scheme and has therefore been critically assessed as being both highly innovative and industry-facing in nature.

GRADUATES & CAREERS

"Completing the MSc. Computational Finance provided me with the skill set and knowledge necessary to confidently enter the employment market. The learning-by-doing nature of the course was a very important feature that helped me make a successful transition from academia into the working world. The course work was kept relevant and the material was continually updated to reflect the fast-changing dynamics of the financial market. The cutting edge facilities at the Kemmy Business School allowed us to perform real-time trading and risk analysis. This provided us with both an in-depth understanding of financial products and an up-to-date knowledge of financial "best practices", skills that I utilize to this day. I am currently working for First Derivatives as a Financial Engineer. My role has given me the opportunity to work on projects abroad (London, Tokyo, New York) and at home in the area of financial technology across some of the world’s leading financial institutions."

Conor Twomey – Financial Engineer, First Derivatives

"In my current role as a Quantitative Analyst www.lacimagroup.com I am responsible for developing computational methods for energy derivative pricing, risk analysis, and numerical modelling and also providing quantitative support to our clients. The position requires a strong knowledge of financial asset pricing theory, statistical analysis, numerical analysis and even more importantly the technical skills to implement this knowledge. The course provided me with the perfect skill set to perform in this type of role and also the strong focus on the practical implementation of the theory allowed me to more quickly adapt to the role and contribute effectively from the outset."

Greg Kiely – Quantitative Analyst, Lacima Group

"I completed the MSc CF programme in 2009/2010 and found it a very interesting, challenging and well delivered program. It has provided me with advanced analytical and computational finance skills which have facilitated a career change where I now work as a market risk quantitative analyst. Of particular appeal to my employers was the detailed project work which was carried out in a simulated 'live' trading environment in the KBS trading floor. This project work has equipped me with a practitioner-orientated knowledge of computational methods used in market risk measurement such as principal components analysis and has proved extremely useful in my current role."

Cormac O’Shaughnessy – Quantitative Risk Analyst, AIB Financial Risk

EMPLOYER TESTIMONIALS

"First Derivatives is a leading provider of products and consulting services to the capital markets industry. The distinct competitive advantage of the firm derives from its unique combination of knowledge of financial markets and expertise in financial services technologies. The graduates that we have employed from the MSc Computational Finance class have been very well prepared to join the team at First Derivatives and we are observing an ever-growing MSc CF alumni within the firm. The graduates arrive with many of the quantitative tools and the base of financial knowledge needed both to integrate quickly into projects within the firm and to be deployed on-site with clients. Many of the alumni have successfully accelerated through our graduate program, the Capital Markets Training Program or CMTP's for short, leveraging many of the hard and soft skills that they acquired during their masters year. The continuous high standards of the MSc Computational Finance alumni are a testament to the rigorous and intensive 12 month masters course provided by the University of Limerick."

First Derivatives