Università Commerciale. Graduate School. Luigi Bocconi MAFINRISK. Master of Quantitative Finance and Risk Management X Edition

Transcription

1 Università Commerciale Luigi Bocconi Graduate School MAFINRISK Master of Quantitative Finance and Risk Management X Edition

2 MAFINRISK Master of Quantitative Finance and Risk Management Let me try to summarize five reasons why you should consider MAFINRISK as a special opportunity in your personal and professional development. MAFINRISK is one of the very few Master programs anywhere with a specific emphasis on quantitative finance and risk management. We will give you all the theory and all the operational tools you need to tackle the world of modern quantitative finance. You will be part of an international class sharing your learning experience with students that have different cultural and educational backgrounds. Our experienced and qualified faculty is a carefully selected mix of academics and practitioners who will try to transmit to you a passion for finance. MAFINRISK has an excellent track record in terms of placement success: participants in the previous editions easily found a job after the program. We are located in Milan, a lively, fashionable, culturally stimulating city: an environment which will make your year even more enriching and enjoyable. I look forward to receiving and carefully evaluating your application. Francesca Beccacece Program Director

3 Learning Objectives The MAFINRISK objective is to create fully independent specialists, combining quantitative and operational skills with institutional competencies. For this reason the technical skills developed in our program are complemented with courses dedicated to more general economic and institutional aspects of finance. The program is of particular relevance to those planning to work, or currently working in: capital markets, sales and trading risk control and risk management investment management and hedge funds new product design and structuring derivatives pricing, trading and risk management financial modelling Applicant Profile This Master program is tailored to fit both the requirements of: economics graduates who want to develop applied skills in the field of quantitative finance and risk management graduates in non-economics quantitative subjects (i.e. mathematics, physics, statistics, engineering, etc.), lacking a specific training in economics and finance Program Structure The Master of Quantitative Finance and Risk Management from Università Bocconi will allow you to pursue your passion using a rigorous, skills-based approach. The program is completely held in English and taught by a highly qualified faculty, which includes teaching and research staff from Università Bocconi and other top universities. The learning process has a practical orientation and takes the form of structured lectures backed up by practical applications through case studies and visiting speakers, as well as project works and individual research. The program is completed in 10 months, full-time. To qualify for the Master degree, participants must successfully complete 16 courses (i.e. 7 fundamentals, 5 core and 4 electives) and an individual project or an internship report. The fundamentals are compulsory and will be taken by everyone. The 5 core courses are selected out of the 6 offered. The electives are selected from an extensive list and will reflect each student s individual choices and interests. Class profile Male students 70% Female students 30% Average age 25 Undergraduate degrees held Business or Management, Economics, Finance and Banking, Engineering, Mathematics, Physics, Statistics Years of experience range 0-2 GMAT/GRE range / ( ) Italian 50% Non-Italian 50% Countries represented Albania, Argentina, Austria, Belgium, Bolivia, Brazil, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, France, Germany, Greece, Hungary, India, Italy, Japan, Jordan, Malta, Moldova, Montenegro, Norway, Poland, Portugal, Republic of China, Russia, Serbia, Slovakia, Spain, Sweden, Switzerland, Thailand, the Netherlands, Tunisia, Turkey, UK, USA

4 Study Plan First term September - December 2013 Fundamentals Mainly introductory courses are covered with the aim of establishing a common language between the faculty and the participants and to smooth out the differences in academic and working backgrounds. Accounting and Financial Statement Analysis Derivatives Econometrics Fixed Income Investments Mathematical Models for Finance Probability and Stochastic Calculus Second term January - March 2014 Core courses (5 out of the 6 offered) Different fields of finance are emphasized, combining quantitative and risk management subjects. The focus is on the most technical aspects of asset pricing and hedging while highlighting institutional, organizational and regulatory aspects. Credit Risk: Measurement and Management Internal Controls and Corporate Governance Market Risks: Measurement and Management Numerical Methods Theory of Valuation Time Series Analysis Third term April - May 2014 Electives Students choose 4 electives among a wide menu of optional courses, each dedicated to several specific aspects of applied finance. Accounting and Risk Evaluation Corporate Financial Risk Management Credit Derivatives Exotic Derivatives Microstructure Models Model Risk and Risk Measures Portfolio Performance Evaluation Term Structure Modelling Topics in Quantitative Finance Final project or internship report June - July 2014 An individual project or an internship report concludes the program. The total number of credits to be obtained is 66: 58 (classes) + 8 (final project or internship report). Placement at a Glance The Bocconi Career Service, in cooperation with the Master staff, helps students enter the job market by providing: on-campus presentations and the Bocconi&Jobs career event JobGate, a web-based area with internship and job offers a Placement Library offering information and reference documents on the Italian and international job markets CV Book, annual publication collecting CVs of MAFINRISK graduates 2011 Placement Statistics* Sector Investment Bankss 23% Other Financial Institutionss Non Financial Institutionss Insurance Companies Trading Risk Management Asset Management Sales Other** 11% Company Sector/Broad Role Type 5% 17% 17% 22% 33% 33% 39% Bocconi reserves the right to change programs and schedules indicated in this brochure * Job statistics one year after graduation ** Including: Audit, Finance, IT Strategy, Rating Company, Operation, Reporting, Market Research

5 Application and Timeline We operate a two stage admissions process: one early session in April, only intended for applicants who have completed the GMAT or GRE one regular session in June, intended for both applicants who have completed the GMAT or GRE and applicants who plan to take the Bocconi Admissions Test Applicants with the GMAT/GRE can either apply during April or June, but not during both sessions. Candidates without the GMAT or the GRE are required to take the Bocconi Admissions Test. 1 st application deadline (early session): 10 April nd application deadline (regular session): 14 June 2013 For all information regarding the application and selection process, please refer to the website at Attendance and Program Assessment MAFINRISK classes are held every day from Monday through Friday. Regular attendance is needed to successfully complete the program. Students are required to attend at least 80% of each course and are expected to be fully involved in all activities the program offers. Each course is assessed on the basis of an end-of-course examination or final project. In some courses, class participation and oral report presentations might be graded. Tuition and Scholarships Tuition and fees for the Master program is 14,500. The fees cover most teaching materials and access to all Bocconi facilities. A limited number of scholarships partially or fully covering tuition and fees may be available and offered on the basis of merit and/or income-based criteria. Moreover, students can benefit from special agreements between Università Bocconi and several banks, which offer the possibility of requesting a loan at advantageous conditions. Find out more on Complete information about MAFINRISK is available at From Our Alumni Luigi Giannuzzi (Switzerland) Nomura The program is characterized by a good balance between theory and time spent implementing the theory on a numerical basis, which strongly helped me to become quickly operative in my professional environment. I was positively surprised by the strong link Bocconi has with major financial institutions, a non negligible advantage you ll benefit from by choosing MAFINRISK. Cem Dedeaga (Cyprus) Goldman Sachs The program entailed many quantitatively rigorous classes with distinguished teachers, and the breadth of courses was also diverse. We took courses ranging from asset management to time-series analysis and risk-management. I chose my electives focusing more on risk management and eventually was able to find a job at the Goldman Sachs Market Risk Management and Analysis group before graduation.

6 For information MAFINRISK Università Bocconi tel fax Università Bocconi - February 2013