MSc Mathematical Finance and Risk Analytics

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 have 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 and Risk Analytics 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 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 a Master of Science in Mathematical Finance and Risk Analytics 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, Python, R, C++ as the computing languages for modelling. Some of the core modules include:

    • Financial Markets and Instruments
    • Discrete Time Finance Methods
    • Statistical Models and Methods in Financial Markets
    • Stochastic Calculus & Continuous Time Finance
    • Asset Pricing & Portfolio Optimization
    • Seminar Series in Finance
    • Computational Methods in Finance
    • Machine Learning with Applications in 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

Course Fees

Total cost is KSh 650,000 approximately

Mode of Study

Evening Program: 5:30pm – 8:30pm

Entry Requirements

a) The following are eligible for admission into the MSc. Mathematical Finance:

    • Holders of First Class or Upper Second-Class Honours degrees, from recognized universities, in Mathematics or Statistics or Mathematical Finance, or Financial Engineering or a related discipline; OR
    • Holders of Lower Second Class degrees in Mathematics or Statistics or Mathematical Finance, or Financial Engineering plus Postgraduate Diplomas in relevant areas; OR
    • Holders of Lower Second Class Degrees in Mathematics or Statistics or Mathematical Finance, or Financial Engineering plus a minimum of two years of working experience OR

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).

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 here or email us at sims@strathmore.edu and we will contact you with more information on how you can enrol for this course.

Intake

Intakes are in the month of May and September 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.

Testimonials

“I feel the program is extremely rewarding to those with an interest in developing an in-depth understanding of finance. By focusing on practical applications, the program sets a good foundation for independent research into emerging trends. While the subject matter of the program is finance, the analytical approaches applied have extensive applications, particularly in contexts that require innovative approaches to problem solving. Students are encouraged to pursue creative applications of mathematical tools in doing their research theses, which provides a good foundation for advanced graduate studies.”

Mr. Kigen ChelimoInvestment Analyst