Computational Finance – (M.Sc.)

The recent financial crisis that originated in the sub-prime US credit markets has provided compelling evidence that even the most sophisticated quantitative financial models have struggled (indeed failed) to match their predictive ability with observed market behavior.

Given the consequences for financial risk-appraisal and the stability of global financial markets, quantitative financial models must more than ever be explicit about their assumptions (principally, which risks are priced and which are not). Consequently, the financial services industry will increasingly demand that graduates combine a quantitatively-founded understanding of market dynamics and financial risk with an ability to use financial models with a mix of common sense and intuition.

Faced with these challenges, the MSc in Computational Finance (MSc CF) is an intensive 12-month, full-time programme which has been designed to balance theoretically rigorous coursework with a practical emphasis on the acquisition of advanced quantitative skills and an intuitive understanding of the dynamics of risk in financial markets. Although only in its second year of existence, the MSc CF programme has already been singled out as being academically rigorous by its external academic examiners and as being highly innovative in its delivery mechanisms.

Delivery of the MSc in Computational Finance programme is largely based in the purpose-built financial markets Trading Floor. Recently completed with the support and encouragement of the international financial services industry in Ireland, the campus-based Trading Floor is located prominently in the new Kemmy Business School and is the first such facility to be located in a University on the island of Ireland.

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.