Overview

The MSc in Computational Finance programme is a technically-oriented Masters in Finance programme, which is designed to equip graduates from cognate backgrounds with the combination of advanced technical knowledge and industry-facing skills which employers increasingly require of graduate hires in the international financial services industry.  The MSc in Computational Finance programme is highly regarded by employers, due in no small part to its emphasis on a ‘learning-by-doing’ teaching philosophy, an approach which has been made possible by affording our students frequent exposure to both lecture and workshop classes in Ireland’s first campus-based (Bloomberg-equipped) Trading Floor, which is housed in the new Kemmy Business School building.  Employment prospects for graduates of the programme are exceptional.  Please refer to the Graduate Profile tab for some recent examples of graduate employment.

  CONTACT

Graduate Profile

Computational Finance MSc
Course Director Dr. Brendan Murphy

Typical career positions might be in quantitative analyst support roles to proprietary trading and risk-management functions; as investment analysts in any of the equity / fixed income / credit / energy commodity asset classes; as investment strategists or traders in hedge funds; as financial analysts in structured finance and/or private wealth management institutions; as risk-managers in middle-office regulation and compliance roles or as risk-analysts in financial regulatory institutions.

Graduates of this programme will be equipped with the requisite skills to operate effectively in the global financial services industry and can expect to find interesting and rewarding careers on graduation from the programme.  Graduates of the programme will also be well positioned for consideration for entry onto PhD in Finance programmes.  A PhD in (Computational) Finance is increasingly seen as a pre-requisite qualification for many of the specialist front-office trading and risk-management jobs now becoming available in the international financial services industry.

GRADUATE TESTIMONIALS

“I graduated from the MSc Computational Finance in 2012 and shortly afterwards joined SMBC Aviation Capital. I have no doubt that the MSc was an integral part to securing a great job with a great company. The course content was relevant to my employers needs and the projects I completed as part of the course work allowed me to give concrete examples of the skills I was offering prospective employers. The 12 month course was challenging, engaging and very interesting. The workload is primarily project based, deadline driven, complex and very closely related to financial market realities. In this respect, it mirrors a front office work place. The course content is delivered by industry experts with both the ability to explain why the material is relevant and to show how to effectively implement it. I put many of the modelling techniques I learned to use on a daily basis. Although the aviation leasing markets are quite different to those of equities and bonds, the practical skills required to quantify risk, liquidity, valuations and forecasts are the same. The MSc in Computational Finance is essential for anyone hoping to work at the intersection of theoretical concepts and front office decision making.” 
Shane Carroll, VP Quantitative Analysis, SMBC Aviation Capital.

"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 – Vice President, 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

Programme Content

Content of modules can be found by using the search option on the book of modules.

Entry Requirements

The MSc in Computational Finance is aimed at highly numerate graduates from Ireland and abroad with a background in a cognate discipline such as Economics and Finance and with a grade of 2:2 or higher in a Level 8 primary degree (National Qualifications Authority of Ireland).  In addition, graduates from Mathematical Sciences (financial mathematics, actuarial finance, statistics and/or applied probability theory) or Engineering programmes are also welcome to apply for entry to the programme.

Recognition of Prior Learning:  applications from industry professionals with relevant prior experience in investment or credit institutions, and looking to up-skill in the area of quantitative finance and/or quantitative risk management, will also be considered.
In the case of international students a candidate must demonstrate evidence of a high score on the mathematics component of the GMAT examination, or equivalent.  In addition, a certified demonstrable achievement in a Standard English Language Competency Test will also be required.

WHAT TO INCLUDE WITH YOUR APPLICATION:

• Qualification transcripts and certificates
• English language qualification if English is not your first language
• Certified English translations of your transcripts/certificates where the originals are in a language other than English.
• A copy of your birth certificate (long document)

Guidelines on Completing your Application

• To ensure a speedy assessment of your application, please upload the above documents with your application form.
• Please title appropriately any documents you are uploading with the application form, for example "Supporting Statement", "Undergraduate Transcript", "Postgraduate Transcript", "English Language Certificate" etc.

English Language Requirements

Applicants whose first language is not English must provide evidence of either prior successful completion of a degree qualification taught through the medium of English or meet one of the criteria below (no longer than two years prior to application):

Acceptable English Language qualifications include the following:

• Matriculation examinations from European countries where English is presented as a subject and an acceptable level is achieved
• Irish Leaving Certificate English –Ordinary Level Grade D or above
• TOEFL – 580 (paper based) or 90 (internet based)
• IELTS – Minimum score of 6.5 with no less than 6 in any one component.
• English Test for English and Academic Purposes (ETAPP) – Grade C1
• GCE ‘O’ level English Language/GCSE English Language – Grade C or above
• University of Cambridge ESOL –Certificate of Proficiency in English - Grade C / Certificate in Advanced English Grade A
• GCE Examination Boards – Oxford Delegacy of Local Examinations – Grade C / Cambridge Local Examinations Syndicate – School Certificate Pass 1-6 / University of London Entrance and School Examinations Council – School Certificate Pass 1-6

Results in examinations other than those listed above may also be accepted as meeting our English language requirements. Contact the International Education Division for advice.