Finance - Quantitative Finance

Overview

The MSc in Quantitative Finance provides a rigorous grounding across a wide range of mathematical modelling methods and techniques for financial markets. From the pricing and hedging of financial securities to managing the risk in portfolios of equity, fixed income and derivative securities. A challenging programme, it equips students with the necessary theoretical, mathematical and computational skills needed to pursue a rewarding career in finance. 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. For graduates wishing to pursue further the theoretical dimension to the discipline, the curriculum content also 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 full-time or part-time basis. The part-time option enables current professionals with the relevant background to combine working life with study, however this is dependent on students’ employment commitments. Note that this is not a dedicated part-time programme and that part-time students will be required to attend lectures, tutorials and complete group assignments in conjunction with the full-time cohort, for whom the schedule is primarily during working hours for a block of hours on several days a week. Modules in autumn trimester will be delivered in a compressed format meaning that modules are taught intensively over two 6 week periods, requiring additional attendance at lectures and tutorials. Employer support is therefore essential.



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 programme 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.



- It provides a truly specialist preparation for a future career within the finance industry, in a variety of functions including fund management, investment banking, financial engineering and corporate treasury management.



- Graduates receive exemption from Professional Risk Managers certification examinations (Level I and II exams), the global standard for the world's top financial risk professionals.



- In the summer term, students can choose from certain summer term modules, or a research project, or in a number of cases, from a limited number of possible internships. With any possible internship opportunity, students may have to go through a competitive process, including potential interviews. The last number of years two thirds of our students acquired internship placements for the summer semester.



Curriculum

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 10 core modules in the Autumn and Spring Trimesters. In the Summer Trimester students must complete one core module and choose one of three pathways outlined below. In a small number of cases, students may 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.

Autumn Trimester:

Core Modules:

Capital Markets and Instruments

Derivative Securities

Financial Analysis

Financial Econometrics

Financial Theory

Quantitative Methods for Finance



Spring Trimester:

Core Modules:

Advanced Derivative Securities

Advanced Statistical Computing Methods for Finance

Numerical Methods

Portfolio & Risk Management



Summer Trimester:

Core Module:

Ethics in Financial Services



Plus one Pathway:

Pathway A

Fixed Income Securities



plus 2 option modules:

Financial Technology

Mergers and Acquisitions

Structured Finance OR



Pathway B

Fixed Income Securities

Summer Internship OR



Pathway C

Research Dissertation



Please be advised that the above reflects the 2023/2024 curriculum structure and is subject to change each year. Option modules listed are indicative of what has been delivered in previous years and are also subject to change.

Please review the entry requirements below. The UCD Smurfit Admissions Office staff have expertise in reviewing international qualifications from around the world and will be able to assess your application's comparability to the Irish entry requirement.



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.



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.



Candidates may be asked to sit the Graduate Management Admissions Test (GMAT) subject to individual application.



Information & Requirements

English Language Requirements

If English is not your first language, an English language qualification is required for admission to all of our programmes. 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.

How to Apply?

Step 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 AND ORIGINAL DOCUMENTS

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.



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:

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.



Application Fee

You will then be asked to submit your application and pay the €60 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.



UCD Students and Alumni who have completed a full-time degree with UCD can apply to UCD Smurfit programmes with no application fee charge.



Application Review

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.



Deposit

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.

12 months full-time, 24 months part-time.

Start Date: End of August 2024.

Career Opportunities

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



88% of our graduates from this programme were employed after 6 months across a range of industry sectors. Source: Latest Graduate Outcomes Survey, published in December 2022.



Potential careers for our graduates include:

Investment banking

Portfolio management

Trading

Quantitative analyst

Risk manager

Data Scientist