MASTER OF SCIENCE IN MATHEMATICAL FINANCE

The pace of change in the financial sector has never been faster than it is today. Rapid innovation and interdependency in the field of investment, risk management and financial product development has necessitated the need for individuals with adept quantitative skills and an advanced understanding of the theoretical concepts underlying financial markets today.

The Master of Science in Mathematical Finance offered at the Institute of Mathematical Sciences, Strathmore University covers material in finance with a deep interaction and contribution from fields such as statistics, computing and applied mathematics. The program provides the fundamental training for a successful graduate who is in or seeking a career in analytical industry practice or related academic research in finance.

Careers

The program will prepare students for analytical roles in the finance industry and academic research roles, including but not limited to: Investment Banking, Quantitative Risk Management and Securities Trading. In Kenya, graduates with an MSc Mathematical Finance can work as analysts in Investment Banks, Insurance, Banking, Regulators such as the Capital Markets Authority, Insurance Regulatory Authority, Kenya Revenue Authority, which require quantitative analysts in finance, pricing and risk management.

Program Structure

The course covers 16 course units offered over 4 academic semesters and a subsequent dissertation project. The program relies on MATLAB, R, C++ as the computing languages for modelling. Some of the core modules include the following:

  • Discrete Time Modelling and Derivative Securities
  • Financial Time Series Analysis
  • Asset Pricing and Portfolio Theory
  • Object Oriented Programming with Applications in Finance
  • Empirical Finance
  • Energy Analytics and Derivatives
  • Stochastic Control and Dynamic Asset Allocation
  • Mathematical Methods of Finance
  • Numerical Methods of Finance

Program Benefits & Outcomes

By the end of the program, the student should be able to:

  • Apply their knowledge and training in finance, with applied mathematics, statistics and probability theory, to industrial and academic settings such as: asset pricing, risk management, mathematical modelling and statistical data analysis
  • The program provides substantial knowledge needed for a successful career in quantitative finance
  • It structured to expose students to both practical and theoretical aspects of study. Such sophisticated skills are in high demand, in both frontier and developed markets globally, especially with the increasingly complex financial markets and the related regulatory structures being adopted
  • Working from alternative theoretical frameworks, the program provides applications of tools developed to different asset classes, including fixed income and derivatives
  • Provide the student with appropriate quantitative training to carry out doctoral studies at any leading institution worldwide

Mode of Study

Evening Program: 5:30pm – 8:30pm

Entry Requirements

  1. a) The following are eligible for admission into the MSc. Mathematical Finance:
  • Holders of First Class or Upper Second in Mathematics or a related discipline; OR
  • Holders of Lower Second Class degrees in Mathematics or a related discipline plus Postgraduate Diplomas in relevant areas; OR
  • Holders of Lower Second Class Degrees in Mathematics or related disciplines plus a minimum of two years of working experience OR
  • Holders of other related qualifications from recognized universities
  1. b) In addition to meeting the above criteria, the applicants will be required to attend and pass an oral interview and a Graduate Entrance Examination (GEE).
  2. c) They will also be required to present two reference letters from academic referees

How to Apply

In case you are interested kindly subscribe to the program by filling in your contact details and relevant information on our website at http://sims.strathmore.edu/ or email us at sims@strathmore.edu and we will contact you with more information on how you can enrol for this course.

Intake

The annual intake will be in the month of May every year .

Interview Requirements

The Oral Interview and GEE are held on Wednesdays and Fridays at 2:00pm. Below are some of the requirement you need to prepare:

  1. Originals and Certifiedcopies of K.S.C.E (or its equivalent), Undergraduate degree certificate and transcript of records (TOR) in English, giving full details of subjects studied and grades/marks obtained
  2. Two (2) completed Reference Formsfrom former undergraduate/graduate professors and/or employer particularly qualified to attest to the applicant’s qualification for graduate study
  3. Dully filled graduate studies application form NB:Reference formsand a Graduate Studies Application form can be downloaded from our website
  4. An updated Curriculum Vitae/Resume
  5. 2 current passport size photos
  6. Provide a copy of National Identity Card (ID)or copy of Passport
  7. Kshs 2, 300Interview fee payable on the interview day.