Welcome to Junior Talk on QF major

1. Welcome to Junior Talk on QF major NUS Quantitative Finance Club Jan 30th, 2010 Time: 9:30-11:30 am Venue: LT26

2. Speakers & Major topics Liu Jianpu (Year3): Overview of QF major, Admission, Joint-Program , comparison among QF, mathematics and statistics�� Liu Siyang (Year4, Deutsche Bank ????? offer receiver): Career prospective Miao Zheng (Year3): CFA�(Chartered Financial Analyst ) Lu Jun (Alumnus, PHD in statistics): Future education after graduation� Kang Yuliang (Year3, Double Degree in Business): Double Degree in Business Liu Xuan (Alumnus, Hedge Fund Trader): Q&A on career & working experiences

3. Found in 2007 by a group of enthusiastic students A platform to interact, for students who are interested in the Quantitative Finance field Promote the knowledge of investment science and computational finance skills to interested students Develop students� leadership and expose them earlier to the financial industry

5. Hong Kong Financial Trip Jan, 2009 Shanghai-Beijing Financial Trip Dec, 2009 Industrial Visit to Bloomberg RMI Workshop Bazaar Junior Talk Senior Talk CUDA Training Networking Session & Alumni Dinner

6. Upcoming Events Career Path Workshop T-shirt Design Competition Industrial Visit And so on�

7. We �are �Recruiting!!! � Organize exciting�events related to finance � Exclusive assess to events like industrial visit � �Opportunities to meet up�with senior management in financial institutions � Network with industrial professionals � More interaction with QF profs & seniors � Build up your resume � Have �FUN!!!!

8. One-time membership fee:

9. Quantitative Finance

10. Outline

11. Officially Overview

12. Career Prospects

13. Courses

14. QF or not (course)

15. QF or not (career)

16. Admission Requirement

17. Application & CAP

18. Interview

19. Options in QF(career)

20. Double Degree

21. Double Major

22. Minor

23. Module Planning

24. Module Planning

25. Module Planning

26. Study Plan

27. Module Planning

28. CFA

29. CFA

30. Graduate Study

31. Q&A

32. Thank you

33. Quantitative Finance and Career Path Liu Siyang, Year 4,QF major

34. Why Quantitative Finance? You could earn a ticket to give you a head start in financial service industry. Quantitative Finance Courses: learn about fix- income pricing, fix-income derivative, option pricing, swaps. Finance Courses: Financial accounting, finance, corporate finance, financial markets. Computing: a good foundation of programming skills.

35. Comparison between Math and Stats Major In Math and Stats major, it is not easy to study any business courses, nowadays business courses are harder and harder to bid. QF would provide more opportunities to improve your soft skills. QF is an elite program in NUS and is more recognized by the investment banks.

36. CFA & ACCA CFA is short for certified financial analyst. It is a program brought up by an US institute. You can learn a lot of financial knowledge by studying its curriculums. It is ideal for students with non-financial discipline to get into financial industry. However, CFA is no guarantee for a job. ACCA � an accountancy program where you can be an accountant, auditor, financial controller. Its scope is quite narrow compared with CFA.

37. Career prospects Singapore just experienced its worst economic downturn in its history. All sectors of economy were greatly hurt, financial industry is no exception. However, financial institutions in the world are robust. TOO BIG TO FAIL?

38. Potential careers Credit Risk Management: provide structuring advice and credit approval, manage credit exposure of derivatives and foreign exchanges portfolios. Market Risk Management: work together with trading floors to analyze and aggregates market risk exposed to the banks.

39. Potential careers Private Wealth Management: client facing relationship managers to help high net worth client to manage their finances. Finance: financial controller to account for the trader�s positions. Investment Banking: 1. Merger &Acquisitions 2. Trading and sales 3. Structuring

40. Potential careers Operations and Technology: people who serve different departments to make all the banking operation running smoothly. Asset management: portfolio managers, fund managers, hedge fund analyst.

41. Want to know more about banking? Recommend to read this -> And remember : you can be whoever you want to be. http://85.195.122.57/files/M225825_20080206_153755/pdf_en/DB_UGIB_Investmentbanking.pdf

42. CFA Program Miao Zheng Year 3, QF Major

43. About CFA History: Into Our Sixth Decade First proposed by Benjamin Graham in 1942 as a member of the New York Society of Securities Analysts (NYSSA, founded 1937) Founding members of CFA Institute include the world�s oldest corporate financial manager societies, the Investment Analysts Society of Chicago (founded 1925) and �NYSSA � Recognition: Worldwide The Economist ranked the CFA Program as the gold standard among investment analysis designations Regulators around the world recognize the value of the charter

44. Global network of nearly 100,000�members Highly active professional membership organization Members play leading roles in: Investment companies Mutual funds Broker-dealer/investment banks Banks Consulting firms Insurance companies Pensions and foundations Research and academic institutions

45. Benefits of CFA Program Credibility: Clients and colleagues regard you with a presumption of expertise Competitive advantage: Employers and clients want the experience that comes with the CFA charter Connections: You�ll join a global network of more than 78,000 professionals Recognition: You�ll earn a designation praised by employers and media

46. Potential employers of CFA holders J.P. Morgan Chase & Co. Allianz AG Bank of America Barclays MO Nesbitt Burns, Inc. � Morgan Stanley CIBC World Markets PricewaterhouseCoopers Citigroup Credit Suisse Group Deutsche Bank RBC Financial Group Goldman Sachs HSBC UBS AG ING Group

47. MBA vs CFA The plus points of an MBA � An MBA is still exclusive: it works in its favour that the CFA has been devalued now that more and more people are taking it (including, allegedly, one child's violin teacher). � The best i-banking and asset management jobs still go to graduates of the top 10 MBA schools. � An MBA offers contacts and networking; a CFA offers all the networking opportunities of an after-work home study course. � An MBA from a top 10 school is infinitely better than a CFA, but a CFA has the prestige of an MBA from a top 20 school. � A good MBA is a bonus for career changers; a CFA is best for someone already in the industry. � An MBA gives you a prestigious brand name to market yourself with. The plus points of a CFA � A CFA is more difficult than an MBA; it's also more relevant, and more comprehensive. � A CFA teaches hard skills and tests you on them; by comparison, an MBA teaches soft skills. � A CFA is an excellent route into asset management. � A CFA is already mandatory for most senior equity analysts and is increasingly required for fixed income analysts. � Each of the three CFA exams requires 250 hours of study in your own time. That shows true commitment. � MBA courses offer an introduction to financial theory. The CFA provides the tools to develop creative solutions to complex financial problems � and a growing number of top MBA schools are including it in their curriculum.

48. Conclusion It helps to have both � the MBA for strategy and networking and the CFA for financial analysis.

49. Become a CFA Charterholder Pass all three exams and meet the professional and ethical requirements, plus the relevant amount of work experience Have four years of acceptable work experience May be accrued while you're�in the CFA Program, after you've passed all three exam levels, or in previous positions At least 50 percent of your work experience must be:: Directly involved in the investment decision-making process Engaged in responsibilities and/or producing a work product that informs or adds value to that process

50. CFA Exams Level I: June & December every year Level II & III: June every year Notes: You must be in the final year of your bachelor's degree program at the time of registration for Level 1 exam. You must finish your bachelor�s degree when registering for Level II exam.

51. Exam Venue

52. Exam Fees

53. Topics outline I. Ethical and Professional Standards � II. Quantitative Methods III. Economics IV. Financial Reporting and Analysis � V. Corporate Finance � VI. Equity Investments VII. Fixed Income � VIII. Derivatives � IX. Alternative Investments � X. Portfolio Management and Wealth Planning

54. Useful courses in NUS Introduction to Statistics (ST1131) Finance (FIN2004) Financial Accounting (ACC1002) Financial Statement Analysis (FIN3113) Corporate Finance ( FIN3101) Investment Analysis (FIN3102) Financial Markets (FIN3103) Fixed Income Securities (FIN3120A) Options and Futures (FIN3116) Financial Risk Management (FIN3118) Principles of Economics (EC1301) Microeconomics (EC2101) Macroeconomics (EC2102)

55. Topic Area Weights

56. Level I exam multiple-choice questions (3 choices) consists of 240 questions in a six-hour time frame: morning session and afternoon session Result will be released within 60 days after exam date posts scores as �pass� or �fail� with an indication of performance across topic areas or questions to help identify strengths and weaknesses.

58. Passing rate

59. Textbook Included in the registration fees for the exam Be mailed to you after registration Copies also available in Biz Library

60. Advices Take relevant courses in school to learn the stuffs in systematic way Start preparation earlier Refer to official text books

61. SEP Highly recommended since it�s an experience to expand culture exposures and discover other countries Recommend to go in Sem 1 if you want apply internship in Sem 2 CAP may not be the only criteria for getting good schools Show your preparations and good attitude throughout your application and interviews

62. Graduate Study after QF MajorLu Jun Class of 07 Overview Opportunities Career after degree

63. Overview A high percentage of QF seniors pursue further study after graduation. Many forms Full time research under scholarship Part time master by course others

64. Graduate study by research It does not meant for everybody. You must love research, have passion and patience. You will have scholarship, but you wont be rich. Normally will proceed to PhD study, but you can drop half way. Determine what kind of people you are is very important

65. If you are the right kind of person Obtain a high CAP (aim first class or second upper honor) Study more theoretical modules during your undergraduate course since your future competition is fierce. Try some research projects to get you familiar with research process.

66. If you are more like industry people Find a good job first. You can study a part time master by course. Many people follow this track since even you are in career field, degree counts! Be prepare exhaustive classes after one day heavy work.

67. Others Go abroad, be prepare for the bond, be ethically right! MFE- you need to pay Master of quantitative finance-also you need to pay.

68. Full time opportunities Full time academic research PhD in NUS mathematics, statistics, economic departments SMA Master in Quantitative Finance MAS sponsorship Go abroad to study in top universities if you are determined to be a professor NUS graduate School

69. Part-time opportunities Master of financial engineering NUS NTU (rumor to be better) Master By course track in math, statistics departments

70. Career Perspectives: PhD PhD: To be a professional researcher or professor. PhD in quantitative field: to be a quantitative analyst in a top bank (very limited in Singapore, I suggest you go abroad to study the PhD)

71. Career Perspectives: Master More broad job opportunities compare to PhD. Can join banks, big four, consulting, insurance�. Promotion in the job, from an analyst to an associate. If you study MBA after several-year work, you can promote to a manager.

72. Final word Determine you are more like an industry person or academic person as soon as possible and fight for your goal!

73. DDP Opportunity for QFDaniel Yuliang

74. Follow your dreams

75. It�s your own choice

76. It�s your own choice

77. Life is fun!

79. Q&A on career and working experiences Liu Xuan Class of 2004/2005 Hedge Fund Trader

80. Introduction of seniors

81. Q&A

82. ??????????? ?????? ??????????? 1400-1600 Jan.30@LT31

83. Thank you!