Financial Engineering Program to make you a Complan Boy in the Banking or Finance Sector!
Financial Engineering Program is designed to act as a catalyst for the career growth of middle and senior level executives working in banks, mutual funds, investment banks, brokerage houses and other financial institutions. Since risk management is one of the important components of the program, it is also suitable for primary dealers, corporate financial risk managers, and those who work in equity research firms. One such program is offered by the Indian Institute of Capital Markets (IICM).
Established in 1989 by the former Unit Trust of India (UTI), the Indian
Institute of Capital Markets (IICM) came into being as UTI Institute of Capital Markets. With years, it gained a dominant position in the market as one of the premier institutes offering programmes tailor-made for securities markets in Asia. Historically, the institute has actively contributed to the development of Indian capital markets through its policy research and offering executive education programmes and advisory services to market intermediaries in India and other developing markets. It started the six-month part-time Postgraduate Diploma Financial Engineering and Risk Management Program in 2007 for growing professionals who want to be the Complan Boys and Girls in the financial sector.
About Financial Engineering Program
With the globalization, market accessibility and deregulation of financial products, financial services in India have undergone a sea change in its processes, product offering, service standards, and practices. Essentially a certificate program, the Financial Engineering and Risk Management Program equip the finance and bank professionals with new-world skills and innovation techniques to compete with giant players in domestic and international markets.
Course Modules of the Financial Engineering and Risk Management Program are as follows:
- Credit Risk Modelling
- Derivatives Valuation and Pricing (Index, Stock, Forex and Commodities)
- Equity Valuation and Pricing
- Financial Modelling and Econometric Packages
- Fixed Income Securities Analysis & Portfolio Management
- New Financial Order - New Regulation and New Financial World
- Portfolio Management
- Quantitative Techniques
- Risk Management
- Structured Products (Liquidity Risk, Model Risk)
Apart from this, the program also includes case studies and at least two-moths project on Risk Management.
Eligibility for the Financial Engineering Program
Any graduate from a recognized Indian university with relevant experience can apply for the course. However, preference is given to students with a quantitative background. The actual selection of the candidate for the program depends on his or her performance during the personal interview and counseling sessions conducted by IICM.
Program Details
Duration: Six months with classes being held on Saturdays, Sundays, and Public Holidays for the convenience of working professionals.
Timings: On Saturdays, classes are conducted from 2.00 pm to 7.00 pm. On Sundays and Public Holidays, classes are conducted from 10.00 am to 6.00 pm.
Accommodation: Students may be provides paid accommodations on basis of availability.
Venue: Indian Institute of Capital Markets, Vashi, Navi Mumbai.
Course Fee: About Rs 70,000
Career Prospects for Financial Engineers and Risk Managers
When Indian Capital Markets experienced rapid growth in the 1980s, it found it difficult to find suitable and qualified professionals. UTI established Institute of Capital Markets to fill this gap in demand and supply of finance professionals. Later, the institute became an institute of national repute and was renamed Indian Institute of Capital Markets. It was also re-instituted as an autonomous separate organization as a trust under the Bombay Public Trust Act, 1950 on March 6,1993 and then as a society under the Societies Registration Act, 1860 on June 25, 1992.
Its well-equipped computer lab is equipped with financial software and database management applications such as Prowess, Alpha, Business Beacon, Mergers & Acquisitions, and Trends as well as technical applications such as SPSS, Matlab, WinRATS, Eviews, and Bloomberg.
Graduates of Financial Engineering and Research Management Program at IICM find good opportunities in:
- Alternative Investments, Proprietary Trading, and Trading Support: Hedge funds, arbitrage, equity and debt markets, emerging markets, managed futures and several related finance products employ financial engineers. Financial institutions also need quantitative analysts and professionals for trading activities.
- Customer Support and Consultancy: Customer support of banks, investment banks and financial institutions have to be knowledgeable enough to offer quick resolution of customer queries and doubts. More experienced people can go on to work as consultants for private and corporate clients.
- Development of Innovative Products: With increasing competition, one can see investment banks coming up with exotic options like hybrid securities to enhance returns on investments or offer insurance against risks. Then, they also offer customized solutions to clients. These products require complex calculations and pricing strategies. Good financial engineers and risk managers help their institutions to model an attractive spread for their customers.
- Risk Control: Risk monitoring and control has to be consistent, quantitative and verifiable. Increasing complexity of markets require organizations to define their risk management policies. Risk managers can find good opportunities here.
Then, there are traditional job options like Portfolio Management, Fund Management, and Academic and Industrial Research that are always open for Financial Engineers.
Post your queries on Financial Engineering and Risk Management program offered by IICM here.
Source: Ruchi Shrimali (Shiksha Team)
Date: 11th May, 2011
