CQF Brochure 2014

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Global Standard in Financial Engineering

Certificate in Quantitative Finance

CERTIFICATE IN

FINANCE

CQF

www.cqf.com

Delivered by


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Real-world financialengineering

Contents

About the CQF ................................................. 3

Your CQF journey ............................................. 4

Where our delegates come from ......................... 6

CQF alumni ..................................................... 8Online learning resources .................................. 9

Flexible program delivery ..................................10

Mathematics for Quantitative Finance Primer .......11

CQF program content .......................................12

Lifelong Learning .............................................15

CQF faculty .....................................................16

How to apply ...................................................19

FAQ ...............................................................20

Our affiliates ....................................................22

CERTIFICATE IN

FINANCE

CQF

Join our CQF group on

Dr. Paul Wilmott

CQF Program founder

Finance is an increasingly sophisticated

and competitive sector to work in and

the demand for education in quantitative

finance has never been greater. With a

focus on the practical implementation of

quantitative techniques, the Certificate inQuantitative Finance (CQF) is taught by

leading practitioners and is designed to

help you and your company stay ahead

of the competition. Once you qualify, our

ever-expanding Lifelong Learning library

will support you throughout your career.

To date, more than 2000 professionals

worldwide have completed the program

and the Certificate has gained globalrecognition as the benchmark qualification

for anyone in, or aspiring to enter, the

sphere of quantitative finance.


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www.cqf.com

The Certificate in Quantitative Finance is an internationally renowned quants qualification designed for individuals

working in, or intending to move into, derivatives, IT, quantitative trading, insurance or risk management.

Delivered via flexible online learning, the part-time CQF program comprises six modules and offers two study

options so you can decide how to complete the CQF.

It is unique in its structured approach and commitment to the field of real-world financial engineering by providing

analysis of practical quantitative techniques important in the increasingly sophisticated financial landscape. Part of

the Fitch Group, the CQF program is provided by Fitch Learning, a leading global training company with cutting-

edge online learning portals and centers in London, New York, Singapore and Dubai.

Receive an internationally renownedquants qualification

The CQF is a prestigious professional qualificationthat provides in-depth analysis of practicalquantitative methods for financial markets.

Develop career-enhancing skills

The program is a key career development tool forprofessionals from a rich diversity of backgroundsand responsibilities who want to build their skills inquantitative finance.

Study part-time online

The program is offered via flexible online learning,starting twice a year in January and June

Two study options are availableFull Program:complete the six modules in sixmonthsLevel I & Level II:complete the modules in

two three-month levels. Levels can be taken inseparate programs

Delegates will have permanent access to a cutting-edge online learning environment

All lectures are streamed live over the internet andare recorded and made available on the CQF Portalwithin 24 hours.

Benefit from expert teaching

Led by Dr. Paul Wilmott, the world-renowned expertin mathematical finance, the CQF faculty is a highlyacclaimed team of experts combining experiencedpractitioners and leading academics specializing in

the field of quantitative finance

Delegates receive a free one-year subscription toWilmott Magazine.

Access our free Lifelong Learning library

Our ever-expanding Lifelong Learning library foralumni encompasses regular new lectures andhundreds of recorded lectures on the latest topicsand techniques being used in industry.

Be part of an influential global alumni network

CQF alumni benefit from a strong businesscommunity of more than 2000 quantitativeprofessionals

We invest in the future of our alumni networkthrough support of our local societies and a range ofsocial and educational events.

About the CQFA world-class professional quants qualification

WHY TAKE THE CQF PROGRAM?


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Your CQF journeySupporting you beyond the program

A

PPLY

O

NLINE

Submit your application online atwww.cqf.com/apply. You will receive

a decision regarding your applicationwithin five working days.

Should you have any questionsabout the application process,contact us at [email protected] +44 (0)845 072 7620.

REFRESH

YOUR

MATHEM

ATICSSKILLS

The CQF program begins with theMathematics for QuantitativeFinance Primer (optional), 12 hoursof intensive training covering all themathematical preliminaries you need toknow before starting the quantitativefinance lectures.

The Primer is multi-faceted and includesVisual Basic for Applications (VBA),starting with the fundamentals andworking up to the more complex featuresof VBA using Windows Excel. Theselectures support the Primer in preparingfor the CQF.

ATTEND

AN

INFORMATIONSESSION

Find out more about the CQF program byattending one of our global informationsessions or live online webinars, whereyou can:

Meet members of the faculty

Talk to our alumni

Discuss details about the program

Find out more about yourcareer options.

Register for an information session oronline webinar at www.cqf.com


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www.cqf.com

5

S

TUDYFOR

T

HECQF

The CQF program starts in January and June each year andcomprises six modules, which will need to be completed to gainthe CQF qualification.

Study options available to you:

Full Program complete the six modules in six months

Level I & Level II complete the modules in two three-month levels

Each module covers a different aspect of quantitative finance andconsists of lectures and discussions. At the end of modules oneto five, delegates take a written exam. Module six consists of apractical project, developing implementation skills.

Module One Building Blocks of Quant Finance

Module Two Risk and ReturnModule Three Equity, Currency and Commodity Derivatives

Module Four Interest Rates and Products

Module Five Credit Products and Risk

Module Six Advanced Topics

Final Exam for Distinction (Optional) The final three-hourexamination takes place in exam centers worldwide. Delegateswho score 80% or above receive a distinction grade.

CONTINUE

LEARNIN

G

We invest in the future of our CQF alumni by offering a freecontinuous professional development program, called LifelongLearning. It is designed to support you for the whole of your career.Lifelong Learning consists of:

Lectures An ever-expanding library of over 600 hours oflectures on every conceivable finance subject and regular newlectures on the latest topics and techniques being usedin industry.

Masterclasses Over 70 hours of additional material to help you

delve deeper into subjects.Certificate in Mathematical Methods (CM2) An intensivecourse of 51 recorded lectures (equivalent to more than the firsttwo years of a university mathematics degree).

C++ Over 70 hours of tuition across 28 recorded sessionscovering the theory of design and translating pricing models intoworking C++ code.

JAVA Introductory Java course especially designed for quants.

Trading Simulator Try out new ideas in a realistic setting,incorporating real-time events based on live data fromthe marketplace.


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Where our delegates come fromEmployers and geographical locations

DELEGATE

OCCUPATION

Fund

managem

ent

Trading

DELEGATE

ACADEMICDISCIPLINE

Physics

ABN AMROAbu Dhabi Investment Authority

AccentureAlexia Asset Management

BanamexBank for International Settlements

Bank of America Merrill LynchBarclays

BNP ParibasBP Gas TradingBritish Energy

CalyonChicago Trading Company

CitadelCitco

Citi GroupCommerzbankCrdit AgricoleCredit Suisse

DeloitteDerivative Trading Systems Ltd

Deutsche BankDuff & Phelps

EDF TradingErnst & Young

Fidelity InternationalFitch Ratings

GE Capital SolutionsGoldman SachsGordian Knot

HBOSHSBC IB

IBMING

Intesa San Paolo

J.P. Morgan

KPMG

Lloyds

Man Financial

Marshall WaceMellon Capital Management

Mitsubishi UFJ Securities InternationalMoodys

Morgan Stanley

Nationwide Building SocietyNationwide Financial

Nomura

Och-Ziff Capital

PAAMCO

RBSRWE

Schroders

Thomson ReutersTowers Watson

Trafigura

UBSUnicredit

Watson WyattWells Fargo

CROSS SECTION OF DELEGATE EMPLOYERS

CQF delegates come from a rich diversity of backgrounds, responsibilities and nationalities, bringing a wealth of

experience to the program.


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www.cqf.com

NORTH AMERICA

USA

New York

Chicago

San Francisco

Boston

Washington D.C.

Los Angeles

Florida Houston

New Jersey

Missouri

Texas

California

Pennsylvania

Connecticut

Minnesota

OregonCanada

Toronto

Quebec

Ontario

SOUTH

AMERICA

BrazilSao Paulo

Rio de Janeiro

Chile

Colombia

Peru

Paraguay

EUROPE

United Kingdom

Germany

Switzerland

Sweden

The Netherlands

France

Russia

Italy

Ireland

Spain

Luxembourg

Denmark

Norway

Belgium

Austria

Poland

MIDDLE EAST

Israel

UAE

Saudi Arabia

QatarLebanon

Azerbaijan

Syria

Bahrain

Kuwait

AFRICA

South Africa

EgyptMorocco

Nigeria

Zimbabwe

ASIA PACIFIC

Singapore

ChinaJapan

India

Australia

Malaysia

Vietnam

86% of applicants work in the financial sector 90% of delegates work full-time for the duration of the program.

KEYSTATS


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CQF alumniAn influential network of quants professionals

The CQF alumni community is continually expanding all over the world. The current network consists of over 2000

alumni, an exclusive global community of quantitative practitioners. We invest in the future of the network througha range of events, publications, a directory and a dedicated portal. As a CQF delegate, you will become part of an

active community, and have the opportunity to attend social and educational events.

By joining our expanding network of international CQF groups you can keep in touch with fellow alumni, share

ideas and participate in discussions.

Amit Marwaha

Previous qualifications:MBA Finance, University of Texas at AustinCurrent position:Associate, Gas Utilities, Citi Group

The CQF was a good way of improving my math while working at the

same time. The CQF has definitely had an impact on my job. It has given

me the information, tools and the knowledge necessary to speak to clients

and price assets in an effective manner.

Stewart ButtonPrevious qualifications:Bachelor of Engineering with First-classHonors, University of TasmaniaCurrent position:Quantitative Analyst/Developer AlgorithmicTrading, Onyx Financial

The CQF has helped me look inside the world of financial markets,

derivatives and risk management systems to gain an insight which would

not be possible through practice alone. The program has given me the

tools to price financial instruments and systematically manage market and

credit risk confidence.

Elias John Kies

Previous qualifications:HBBA, Business, Wilfrid Laurier UniversityCurrent position:Director of Analytics, Edgar Online Inc

I had a firm grasp on market fundamentals yet yearned for a deeper

technical perspective to analyze the increasingly complex capital markets.

The CQF filled this gap perfectly. The value of the CQF increases every day

as extra lectures are continually added. I highly recommend the CQF toany serious investment professional.


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Flexible program deliveryTwo study options

The examined part of the CQF program comprises six modules, which will need to be completed to obtain the CQF

designation. You can start the program in either January or June. Dedicated to delivering flexible learning, the CQFoffers two study options so you can decide how to complete the program.

Option 1 Full Program

The program can be taken in full by completing the six modules in six months. This option provides you with immediate access to all ofthe materials you will need throughout the program and Lifelong Learning.

Option 2 Level I & Level II

The program can also be completed in two levels with each level comprising of three modules, completed over a duration of three monthsper level. Levels can be completed in separate programs.

Outline of Level I & Level II

Level I

Level I will give you an understanding of the essential tools needed in the industry. Access to the program preparation and the CQFApp are just some of the benefits you will receive in Level I. Upon completing this level, you will have an excellent knowledge ofthe mathematical tools and concepts used in quant finance, covering areas of quantitative asset management and risk management,progressing onto pricing of equities, commodities and currency derivatives.

Level II

Building on the key skills and knowledge of Level I, Level II will deepen your understanding and further your practical skills leading youto completion of the CQF. Level II provides the opportunity to complete an applied project as well as access to expansive knowledge andtopical information with Lifelong Learning. Through completion of Level II, your knowledge will cover fixed income products and interest ratemodeling, the latest techniques used in credit modeling and advanced research level topics being developed in industry and academia.

MATHEMATICS FOR QUANT

FINANCE PRIMER

(optional)

CONTINUOUS PROFESSIONAL EDUCATION

(optional)

PROGRAM

PREPARATION

CQF

DESIGNATION

LIFELONG

LEAR

NING

12-hour intensive training to covermathematical preliminaries

Free Lifelong Learning includes over 600hours of recorded topical lectures, newtopical lectures every month, C++, CM2,

Java and Trading Simulator

Full Program= Modules One to Six

Level I = Modules One to Three

Level II= Modules Four to Six

Modules One to Five Examined

Module Six Applied Project

LEVEL I

LEVEL II

FULLPROGRAM

OR+


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Mathematics for Quantitative Finance PrimerGetting prepared

The CQF program begins with the Mathematics Primer (optional), 12 hours of intensive

training covering all the mathematical preliminaries you need to know before commencingthe CQF lectures. The Primer has been designed to get you back up to speed with

your mathematics.

Calculus and Differential Equations Refresher

Calculus: Functions and Limits

Differentiation and Integration

Complex Numbers

Functions of Several Variables

Differential Equations:

First-order Equations

Second and Higher-order Equations

Linear Algebra and Probability Refresher

Linear Algebra:

Matrices and Vectors Systems of Linear Equations Eigenvalues and Eigenvectors

Probability:

Probability Distribution Function

Cumulative Distribution

Expectation Algebra Key Discrete and Continuous Distributions

including the Normal Distribution

Central Limit Theorem

Statistics:

General Summary Statistics

Maximum Likelihood Estimator

Regression and Correlation

For more information about the Mathematics Primer,

visit www.cqf.com/program

THIS PROGRAM COVERS THE FOLLOWING:

Visual Basic for Applications

The Primer is multi-faceted and includesVisual Basic for Applications, starting with thebasics and working up to the more complexfeatures of VBA using Windows Excel.


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CQF program contentOutlining the modules

Basic Building Blocks of Finance(Theory and Practice)

We introduce the rules of applied It calculus as a modelingframework. We look at simple stochastic differential equationsand their associated Fokker-Planck and Kolmogorov equations.

Random Behaviour of Assets Important Mathematical Tools and Results Taylor Series Central Limit Theorem Partial Differential Equations

Transition Density Functions Fokker-Planck and Kolmogorov Stochastic Calculus and Its Lemma Manipulating Stochastic Differential Equations Products and Strategies Martingale Fundamentals The Binomial Model for Asset Prices Visual Basic for Applications

Interest Rates and Products

This module reviews the plethora of interest rate modelsused within the industry. We discuss the implementationand limitations of these models and the need for a moresophisticated framework in order to understand theseprocesses. Many of the ideas seen in the equity-derivativesworld are encountered again here but in a more complex form.

Fixed-Income Products and Market Practices Yield, Duration and Convexity OIS Discounting Stochastic Spot-Rate Models

Affine Stochastic Models Probabilistic Methods for Interest Rates Change of Numraire Heath, Jarrow and Morton Calibration Data Analysis Libor Market Model SABR Model Mathematica for Quant Finance

MODULE ONE

MODULE FOUR

LE

VELI

FULLP

ROGRAM

LEVELII


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Modules One to Five are examined at the end of each respective module. For Module Six all delegates have to complete a practicalproject and apply their theoretical knowledge to real-world problems.

Risk and Return

We deal with the classical portfolio theory of Markowitz, theCapital Asset Pricing Model and more recent developmentsof these theories. We investigate risk and reward, lookingat risk management metrics such as VaR. We also see therudiments of option pricing principles and theory in thebinomial model.

Modern Portfolio Theory Capital Asset Pricing Model Sharpe Ratio and Market Price of Risk

Arbitrage Pricing Theory Portfolio Optimization for Portfolio Selection The Black-Litterman Model Value at Risk Volatility Clustering and Other Stylized Facts Properties of Daily and High Frequency Asset Returns Volatility Models: the ARCH Framework

Credit Products and Risk

Credit risk plays an important role in current financialmarkets. We see the major products and examine the mostimportant models. The modeling approaches include thestructural and the reduced form, as well as copulas.

Structural Models Reduced-Form Model and the Hazard Rate Credit Risk and Credit Derivatives Credit Valuation Adjustment (CVA) CDS Pricing, Market Approach Synthetic CDO Pricing

Risk of Default, Structural and Reduced Form Implementation of Copula Models Statistical Methods for Estimating Default Probability

Equity, Currency and Commodity Derivatives

The Black-Scholes theory, built on the principles ofdeltahedging and no arbitrage, has been very successfuland fruitful as a theoretical model and in practice. The

theory and results are explained using different kinds ofmathematics to make the delegate familiar with techniquesin current use.

The Black-Scholes Model Hedging and the Greeks Option Strategies

Early Exercise and American Options Finite-Difference Methods Monte Carlo Simulations Exotic Options Volatility Arbitrage Strategies Martingale Theory for Pricing Girsanovs Theorem Advanced Greeks Derivatives Market Practice

Advanced Topics

The benefits of new models will be discussed fromtheoretical, practical and commercial viewpoints. Themodels derived in earlier parts of the course are only asgood as the solution. Increasingly, often the problemsmust be solved numerically. We explain the main numericalmethods, and their practical implementation.

Deterministic Volatility and Calibration Stochastic Volatility and Jump Diffusion Non-Probabilistic Volatility Models Correlation Sensitivity and State Dependence

Monte Carlo Methods, Brownian Bridge, Advanced Schemes Quasi-Monte Carlo Methods, Sobol and more Dynamic Asset Allocation NAG and Excel for Quant Cointegration: Modeling Long-term Relationships Risk Management in Energy Derivatives Speculation in Energy Derivatives

MODULE TWO

MODULE FIVE

MODULE THREE

MODULE SIX


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Lifelong Learning is very important to me and the CQF is outstanding compared to

alternatives. I will continue learning from the masterclasses and extra lectures because

for me learning is key and I enjoy doing it all the time.

Name: Lilan Li

Previous qualifications:Master of Engineering, Information Systems & Management, Institut National des SciencesAppliques de Lyon

Current position:Quants Developer, Barclays Capital

CQF ALUMNI PROFILE


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Lifelong LearningProfessional development throughout your career

Our free Lifelong Learning program for alumni contains a library of over 600 hours of lectures on every conceivablefinance subject. Delivered by some of the most eminent practitioners and academics, the content is ever

expanding, with additional lectures continually taking place. CQF alumni have permanent, unrestricted access to

their CQF lectures and the entire Lifelong Learning library, allowing you to maintain and further your professional

development at no additional cost.

LECTURES

Largest component of Lifelong Learning Library of over 600 hours of lectures on every

conceivable finance subject

Delivered by some of the most eminentpractitioners and academics

Ever-expanding and up-to-date content

CERTIFICATE IN

MATHEMATICAL METHODS

Intensive program with 51 lectures

Covers a variety of mathematical methodsapplicable to real-world problems

Equivalent to more than the first two years of auniversity mathematics degree course

JAVA

Introductory Java course with seven interactivelectures especially designed for quants

Covers everything you need to know aboutthe basic framework of how Java works

MASTERCLASSES

Delve deeper into specific subjects Over 70 hours of additional material

Delivered by experts such as Dr. Paul Wilmott,Dr. Peter Jckel, Dr. Espen Gaarder Haug,Dr. Alonso Pena and Dr. Sbastien Lleo

C++

Over 70 hours of tuition across 28 recordedsessions

Critical to a role as a modern quant in a top-tierinvestment bank

Covers the theory of design and translatingpricing models into working C++ code

TRADING SIMULATOR

Expands on the core lecture and workshop

Incorporate real-time events based on live datafrom the marketplace

Includes multiple interaction types andin-depth reporting


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Dr. Paul Wilmott

Paul is internationally renowned as a leading expert on quantitativefinance and founder of the CQF. His research work is extensive, withmore than 100 articles in leading mathematical and finance journals,as well as several internationally acclaimed books on mathematicalmodeling and derivatives, including the best-selling Paul Wilmott onQuantitative Finance. He has extensive consulting experience withleading US and European financial institutions, founded a volatilityarbitrage hedge fund and a university degree course.

Dr. Riaz Ahmad

Riaz is Head of CQF Faculty and teaches Mathematical Finance,C++ programming and Mathematical Methods-based courses. Riazis an applied mathematician with teaching and research interests inthe mathematical and computational aspects of financial derivatives in particular, stochastic volatility and jump diffusion models,exotic options and interest rate modeling. Amongst others, Riaz haslectured in Mathematical Finance at University College London andOxford University.

Dr. Espen Gaarder Haug

Espen has worked in derivatives trading and research for more than20 years. He worked as a proprietary option trader at J.P. Morgan inNew York, and as an option trader for two multibillion dollar hedgefunds, Amaranth and Paloma Partners. He also worked as an optionmarket maker for Chase Manhattan Bank (now J.P. Morgan Chase).He has been involved in almost every option market, includingequity, currency, fixed income, energy and commodities. He has aPhD from the Norwegian University of Science and Technology.

Neil Graham

Neil joined Barclays International in 1985 initially in the foreignexchange, money markets and derivatives operations areas beforemoving to the trading room in 1991. Here, his roles included bothinter-bank and sales positions in spot and forward FX, money

markets and treasury derivatives. After leaving Barclays in 1995,Neil became a local on the London International Financial Futuresand Options Exchange (LIFFE), trading own account positions ininterest rate, bond and equity derivatives.

Dr. Sbastien Lleo

Sbastien is a Professor of Finance at Reims Management Schoolin France, a lecturer on CQF in the UK and a Visiting Lecturer atthe Frankfurt School of Finance and Management in Germany.Previously, he held a research position at Imperial College Londonin the UK. Before that, he worked for seven years in the investmentindustry in Canada and held consulting positions. He holds a PhD

in Mathematics from Imperial College London.

Dr. Randeep Gug

Randeep is the Head of Professional Qualifications at Fitch Learningand a lecturer on the CQF. He spent five years working in theEquities division at Salomon Smith Barney and later traded futuresand options on the Indian National Stock Exchange (NSE). Aqualified teacher, he has a First-class honors degree and a PhD forresearch in semiconductor physics.

Dr. Richard Vladimir Diamond

Richard advises family offices on private equity, asset allocation,

investment performance and effectiveness of hedges. He designsand executes trades his specialties are volatility regimes modelingand VIX futures arbitrage. Richard earned his doctorate from theUniversity of Southampton (UK), studying complexity and projectrisk of IT operations in banking. Since 2005, he has been teachingin operations management, statistics and financial mathematics,recently at Cass Business School and Regents College in London.

Dr. Iris Mack

Iris earned a Harvard doctorate in Applied Mathematics and aLondon Business School MBA. She is also a former DerivativesQuant/Trader who has worked in financial institutions in the US,London, Asia and the Caribbean. Iris serves on a National Academy

of Sciences Research Advisory Board and on the Advisory Boardsof the Women Mentor Women Foundation.

Dr. Peter Jckel

Peter is the founder and Managing Director of OTC Analytics.He received his DPhil in Physics from Oxford University in 1995.Peter migrated into quantitative analysis and financial modeling in1997 when he joined Nikko Securities. When Nikko closed downits European operations in 1998, he changed to NatWest, whichlater became part of the Royal Bank of Scotland group. In 2000, hemoved to Commerzbank Securities product development group.From 2004 to 2008, he was with ABN AMRO as Global Head of

Credit, Hybrid, Inflation, and Commodity Derivative Analytics. Peteris the author of the bookMonte Carlo Methods in Finance(2002).

Professor Moorad Choudhry

Moorad is Treasurer, Corporate Banking Division at the RoyalBank of Scotland. He was previously Head of Treasury at EuropeArab Bank, Head of Treasury at KBC Financial Products, andVice-President in structured finance services at J.P. MorganChase Bank. Moorad is Visiting Professor at the Department ofMathematical Sciences, Brunel University, and Visiting TeachingFellow at the Department of Management, Birkbeck, and Universityof London. He is a Fellow of the Chartered Institute for Securities

& Investment, and a member of the Board of Governors of the ifsSchool of Finance.

CQF facultyWorld-renowned practitioners and academics


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Dr. Alonso PeaAlonso is SDA Professor at the SDA Bocconi School ofManagement in Milan. He has worked as a quantitative analyst in

the Structured Products group for Thomson Reuters Risk and forUnicredit Group in London and Milan. He holds a PhD from theUniversity of Cambridge on finite element analysis. He has lecturedand supervised graduate and post-graduate students from theuniversities of Oxford, Cambridge, Bergamo, Pavia, Castellanzaand the Politecnico di Milano. His area of expertise is the pricing offinancial derivatives, in particular structured products.

Dr. Siyi Zhou

Siyi is an Associate Lecturer for the CQF. He teaches appliedquantitative finance in volatility arbitrage, stochastic interest ratemodels and credit derivative pricing and risk management. Before

joining Fitch Learning, Siyi worked as a senior risk analyst in a Cityof London-based consulting firm, providing constructive solutionsto leading banks and insurance companies. He has worked on manyprojects in counterparty credit risk and market risk management.Currently he is working at Moodys Analytics, based in London.

Dominic Connor

Dominic has been programming in C and C++ since the 1980swhen he graduated from Queen Mary University of London. Hehas built trading systems for bond and equity markets, securenetworks for the British government, reviewed C++ compilersfor PC Magazine, and debugged operating systems for IBM and

Microsoft. At some point he has written code for every majorenvironment including Windows, OS/2, Reuters, Bloomberg, VMS,AS/400, DOS, VM and Unix.

Dr. Patrick Hagan

Patrick received his BS and PhD in Applied Mathematics fromCaltech. Over the years he has worked at Bloomberg and several

banks designing trading systems for fixed income, credit, andforeign exchange derivatives, as well as developing the componentmodels, calibration methods, and numerical algorithm. Beforeentering finance he was Deputy Director of the CNLS and amember of the Computer Research and Applications group at LosAlamos. He has also worked at Exxon Science Laboratories, andhas taught at Caltech, Stanford, the Institute for Mathematics andits Applications, and NYU.

Professor Stephen Taylor

Stephen has held a Chair in Finance at Lancaster UniversityManagement School since 1993. His degrees are in Mathematicsand Operational Research. He teaches financial econometricsat Lancaster and in recent years has been a Visiting Lecturerat universities in Norway, China, Australia and New Zealand.His seminal work on stochastic volatility and GARCH models isincorporated in the highly cited book onModelling Financial TimeSeries(Wiley 1986 & World Scientific 2008). His most recentresearch interests are density forecasts for asset prices obtainedfrom option prices and the jump intensity of asset prices inferredfrom high-frequency prices.


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The CQF not only teaches you the mathematics underpinning the different financial

models, it also highlights their main assumptions and potentials dangers. It has

certainly helped me enhance my career aspirations while keeping abreast withcutting-edge modeling developments.

Name: Anuj Gupta

Previous qualifications:MPhil in Advanced Chemical Engineering, University of CambridgeCurrent position:Director, Equity & Commodity Valuation Methodologies

CQF ALUMNI PROFILE


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How to applyEnrolling on the program

The application has been designed to keep the processsimple. Should you have any questions about theapplication process, please do not hesitate to contactus at [email protected] call +44 (0)845 072 7620.

For more information on the above, visit www.cqf.com/apply

Fees

The CQF fees cover:

Tuition Examination CQF App Reading material Mathematics Primer course Lifelong Learning lectures C++ programming course Access to the CQF Alumni Network

ScholarshipsA number of scholarships are available to assistwith the support of tuition fees for select delegates.Candidates wishing to apply for a scholarship willneed to be able to demonstrate why they will benefitfrom taking the CQF and why they should be worthyrecipients of the discounted tuition.

Thomson Reuters Scholarship

The Thomson Reuters Scholarship will be awardedto one applicant per program from the Americas,whereby the recipient will have his/her programtuition discounted. All applications and supportingdocuments must be submitted at least two monthsprior to the program start date.

Wiley Scholarship

The Wiley Scholarship will be awarded to oneapplicant per program from Asia, whereby the

recipient will have his/her program tuition discounted.

Wilmott ScholarshipFor those who are unemployed, full-time students orliving in a developing country on a low income, theWilmott Scholarship covers a portion of the tuition fees.

1.2.

3.

4.

Apply online at www.cqf.com/apply

The CQF Admissions team will come back to you withinfive business days indicating whether you have beengranted preliminary acceptance onto the program,and the timescale within which you must make yourdecision on the offer. We might also invite you to beinterviewed over the phone by a Program Director.

You will then be required to fill out a short enrollmentform, accepting your place on the CQF. As part of

completing this enrollment form, you will be requiredto pay a non-refundable deposit which will entitle youto reserve a place on the program and get access topreliminary course materials and lectures, including theMathematics Primer.

You will also be required to complete a MathematicsAptitude Indicator before the program begins. Thiswill indicate to us what areas of mathematics are yourstrongest and weakest. You may complete this test up toone week after taking the Mathematics Primer.


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FAQQuestions and answers

Should I attend the program?

The Certificate will be of special interest to those working in:

Derivatives

Risk Management

Structuring

Trading

Fund Management

IT Investment

Banking

Hedge Funds

Financial Software

Consulting

Universities

Regulation

Insurance

How long is the program?

The examined core part of the program is six months long.Dedicated to delivering flexible learning, the CQF offers

two study options so you can decide how to complete the

program and gain the CQF qualification.

Full Program

The program can be taken in full by completing the sixmodules over six months, providing you with immediateaccess to all of the materials you will need throughout theprogram and access to our Lifelong Learning lectures.

or

Level I & Level II

The alternative option involves taking the CQF in two levels

of three months per level. Level I consists of the MathematicsPrimer and Modules One to Three. Level II consists ofModules Four to Six and Lifelong Learning.

What happens if I fail an exam?

If a delegate is struggling with a module they are encouragedto contact us as soon as possible so that a member of theCQF faculty can give them extra help and support. If adelegate fails one of the modules the CQF faculty will meetand review their position. On the basis of this meeting

they will then recommend the delegate either retakes the

examination or defers to the next program using this extratime to revise the relevant topics. There is no cost to deferthe CQF program.

When does the program start?

The program is delivered twice a year, commencing inJanuary and in June.

Can I get help with funding?

We offer the Thomson Reuters, Wiley and WilmottScholarships, which provide funds to enable certainindividuals in specific situations to attend the Certificatein Quantitative Finance. These awards will be made at thediscretion of the Scholarships Committee to outstandingcandidates who meet the scholarship requirements and who,in the opinion of the committee, are deserving and will gain

the most from the program.

What level of mathematics is required?

Delegates should have a numerate academic qualificationand should have familiarity with spreadsheet andcomputational problem-solving. Delegates who feel theirmathematics is a little rusty are encouraged to completeour pre-program Mathematics Primer (see page 11) prior

to commencing the CQF. This course is offered to CQFdelegates at no extra cost.

How do I apply?

Simply go to www.cqf.com/applyand fill in the application

form. Class sizes are restricted and places are awarded on afirst-come, first-served basis, provided a delegates applicationhas been approved and the Mathematics Aptitude Indicatorhas been completed successfully.

How long will it take to receive adecision on my application?

We endeavor to make a decision within five business days ofa complete application being received.


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www.cqf.com

When do I need to submit theMathematics Aptitude Indicator?

We advise all delegates to complete the applicationform first. They should then start working through theMathematics Aptitude Indicator, and complete and returnit by email before the start of the program. Delegates arewelcome to delay handing in the test until after they havecompleted the Mathematics Primer.

What equipment do I need to viewthe webcast?

To view the webcast live or recorded, delegates will need acomputer with a sound card and a speaker. Delegates willalso need broadband internet access.

Can I sample a webcast?

Absolutely, submit an enquiry on the Contact us page ofthe website and a member of the team will provide you witha recording.

How long will I have access to therecorded lectures?

Delegates have permanent access to the recorded lectures.

What if it takes me longer to completethe program?

If you cannot complete the program within the allocatedstudy time, we offer the flexibility to defer completion of theCQF to the next program (there is no charge for doing thisand you must complete the CQF within six programs).


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Our affiliatesWorking in partnership

WilmottWilmott is the leading resource for the Quantitative Finance community with active userscomprised of both practitioners in financial services and academics involved in research andteaching. It is led by Dr. Paul Wilmott, founder of the CQF.

The CFA Institute

The CFA has a commitment to continuing education (CE) and as such, CQF courseworkis eligible for 40 CE credits (equivalent to two years recommended minimum) and will beautomatically recorded in CFA Institute members CE Diaries.

PRMIA

The Professional Risk Managers International Association (PRMIA) seeks to providethe highest standard of support and resources to its members in risk management andfinancial engineering.

GARPGlobal Association of Risk Professionals (GARP) is a not-for-profit global membershiporganization dedicated to preparing professionals and organizations to make better informedrisk decisions. CQF is registered with GARP as an Approved Provider of continuingprofessional education (CPE) credits for FRMs and ERPs. The CQF program qualifies for40 credit hours.

WolframWolfram is one of the worlds most respected software companies as well as a powerhouse ofscientific and technical innovation. A wide range of companies rely on Mathematica to maintaintheir competitive edge in a sector which is constantly changing and the CQF is proud to offerthis software to its delegates and alumni.

Wiley

Wiley is a leading global publisher of scientific and technical information. It publishes booksauthored by various CQF faculty members, including the founder Dr. Paul Wilmott and Dr.Espen Gaarder Haug, and works in conjunction with the program to ensure the delivery ofquality learning and teaching resources.

NAG

The Numerical Algorithms Group (NAG) delivers trusted, high-quality numerical computingsoftware and high performance computing (HPC) services and prides itself on decades ofresearch and developments which form the foundation of its powerful, flexible and accuratesoftware. The software is relied upon by tens of thousands of users, companies, and learninginstitutions as well as numerous independent software vendors. NAG regularly works inconjunction with the CQF program to deliver topical and informative events and masterclasses.


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Fitch Learning

LONDON

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EC1Y 4UPt+44 (0)845 072 7620

NEW YORK

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t+1 800 974 0394

SINGAPORE

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068902t+65 6327 1581

DUBAI

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Office No. 704, PO Box 482058, Dubai, UAEt+971 800 72489

CERTIFICATE IN

FINANCE

CQF

Documents

CQF Brochure 2014