In this program, Residents are introduced to the world of professional finance: markets, products, participants, and regulation. The activities within financial markets will be discussed, including trading, financing, brokering, pricing, hedging, optimizing, and managing risk. Throughout the program, Residents identify a list of significant factors that affect the financial industry. Understanding the asset classes, activities, and influential aspects of the financial landscape will provide a solid foundation on which Residents will build mathematical and computational tools to develop models for financial engineering. A background in finance is not required though, it would add to your chances of getting selected.
The program requires Residents to engage with the mathematical foundations, code implementation, and practical applications of portfolio management across many asset classes. By taking the program, Residents will be able to synthesize a complex network and scenario analysis for both portfolio risk and systemic risk.
Financial Skills: Develop a toolkit and models to address financial challenges of credit risk, volatility, liquidity, leverage, regulation, and model breakdown with ethical principles in mind.
Empirical Skills: Build hands-on skills identifying, importing, cleaning, processing, structuring, visualizing, and summarizing both structured and unstructured financial data.
Quantitative Skills: Apply statistical, mathematical, machine learning, and deep learning skills to solve pricing, hedging, prediction, and optimization model problems.
Collaboration and Critical Thinking Skills: Analyze and solve financial problems by engaging in practitioner-oriented group work projects applying collaborative and critical thinking skills.
Residents will also learn how to prepare data to be used in models for financial markets, from which decisions can be made, and how to accomplish fundamental analysis with accounting data, technical analysis with trading data, statistical analysis with transformed data, and sentiment analysis with textual data. The ultimate goal of this program is to build foundational skills that enable Residents to understand the type of data needed depending on their goals, how to source it, structure it, shape it, build with it, and discover what it tells. At their best, financial engineers turn data into empirically based, well-calibrated financial models whose output provides investors and risk managers with sound decisions in the uncertain world of finance.