Quantitative Financial Engineering MSc

Some scholarships of £3,500 will be awarded to outstanding applicants to our MSc in Actuarial Management. Find out more.

You may also be interested in the Scottish Funding Council (SFC) Key Skills Funded Places available to MACS Students. A number of full fee bursaries are available to applicants permanently resident in Scotland. Find out more.

Financial engineering involves the creation of financial products that are aimed specifically at the needs of investors, rather than the conventional approach of defining assets on the basis of borrowers' requirements. Central to Financial Engineering are relative value (sometimes called arbitrage) trading strategies and the structuring of financial products, and the closely associated process of securitisation. Structuring involves the transformation of cash flows derived from an asset and improving the risk profile of the structured product. The contemporary derivative markets are driven by the process structuring, both in terms of transforming cash flows through “swaps” and credit enhancement through credit derivatives.

Our MSc in Quantitative Financial Engineering is aimed at students who not only have a strong background in mathematics but also have the desire to succeed in modern finance, a dynamic and competitive industry.

The programme is designed to develop the technical skills and knowledge required for a wide range of roles in banking, investment management, insurance or financial positions in large corporations. The emphasis is on developing a range of practical skills and an appreciation of how mathematics is used to solve financial problems. This reflects the need for practitioners to be able to employ different techniques in the ever changing world of finance.

The material is based substantially on the PRIMIA syllabus for risk management and the Actuarial Profession’s Specialist Technical (ST) syllabus to value and manage the risks associated with a portfolios of derivatives.

• The full-time MSc programme lasts for 12 months.
• The part-time MSc programme lasts for 24 months.