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ABOUT NUS

A leading global university centered in Asia, the National University of Singapore (NUS) offers a global approach to education and research, with a focus on Asian perspectives and expertise. Its transformative education includes a broad-based curriculum underscored by multi-disciplinary

courses and cross-faculty enrichment, as well as special programs which allow students to realize their potential. Over 30,000 students from 100 countries further enrich the community with their diverse social and cultural perspectives, making campus life vibrant and exciting. NUS has significant alliances with the world's leading universities such as Duke University, Harvard University, MIT and UC Berkeley. NUS was ranked 30th in the world in the Times Higher Education Quacquarelli Symonds (THE-QS) University

Rankings 2008. The NUS degree is regarded by both industry and international academia as a testament to an educational system that equips its students with the knowledge and cognitive skills to master new technologies and the demands of the 21st century.

INTRODUCTION TO RMI

T he NUS Risk Management Institute (RMI) was established in August 2006 as the research arm of NUS dedicated to the area of financial risk management. RMI seeks to complement, support and develop Singapore's financial sector's knowledge and expertise in risk management, and thereby help to

take on the challenges arising from globalization, structural change and volatile financial markets. It is

supported by the Monetary Authority of Singapore (MAS) under its program on Risk Management and Financial Innovation. RMI has three main functions: research, education and training.

RESEARCH

RMI staff and over 60 affiliated researchers are active in carrying out cutting-edge research on a range of issues related to financial risk management. The primary ongoing research project is a credit rating initiative that will produce ratings on the 500 largest Asian firms by 2011. This project involves an innovative mode of research to facilitate international collaboration. RMI sponsors an annual competition for research grants on a wide range of themes related to risk management. RMI also conducts research workshops and seminars throughout the year. The main research event is the Annual Risk Management Conference. In July 2009, RMI will be hosting the 3rd Annual Risk Management Conference on the theme of ‘Systemic risk and the challenges for risk management’. The conference comprises a policy forum in which leading global practitioners present on the pressing policy challenges of the day, and a scientific forum that follows the format of an international research conference with leading researchers presenting their current research.

EDUCATION

In the domain of education, RMI has continued to administer the long-running Master of Science in Financial Engineering (MFE) program. The 11th annual cohort of students will be admitted in 2009. There continues to be strong interest in this degree, as evidenced by the large number of highly qualified applicants.

TRAINING

RMI works closely with the financial industry to train and equip practitioners and thereby enhance their proficiency in this field. Training programs are offered in the analysis and regulation of financial risk management, derivative securities, portfolio theory and other related topics. The training programs include the joint Berkeley-NUS Certificate in Financial Engineering, the Professional Risk Managers' (PRM TM ) Certification Training Program conducted jointly with the Professional Risk Managers International Association (PRMIA), and the risk management segment of the Financial Industry Competency Standards (FICS) in association with the Institute of Banking and Finance (IBF).

DIRECTOR’S MESSAGE

DIRECTOR’S MESSAGE “RMI aims to become a focal point where great minds meet to advance credit

“RMI aims to become a focal point where great minds meet to advance credit rating methodologies.”

For all the wrong reasons, this has been the most interesting of times for research in financial risk management. With periods of volatility and illiquidity not seen in decades, many financial models have lost their luster and can no longer be depended upon as before. Faith in financial institutions and regulators has been shaken and much has to be done to restore that trust. As part of that effort, RMI is embarking on a large scale project for developing a scientifically-based and completely transparent method for rating the credit-worthiness of companies. With our model of open and collaborative research, we aim to become a focal point where great minds meet to advance credit rating methodologies, set the gold standard for credit rating practice through a not-for-profit undertaking, and thus spur on the commercial credit rating agencies to greater accuracy and accountability. RMI's other programs in education, training and research continue. Each is important in expanding and furthering the knowledge of financial risk management and each will be implemented to the best of our abilities. I invite you to learn more about these programs and the credit rating initiative in this booklet, and I would also like to welcome you to participate in our activities.

also like to welcome you to participate in our activities. Duan, Jin-Chuan RMI Director Cycle and

Duan, Jin-Chuan RMI Director Cycle and Carriage Professor of Finance

CONTENTS

2

Research:

Credit Rating Initiative

4

Annual conference

5

Other research activities

6

Education: Master of Science in Financial Engineering (MFE)

8

Detailed information: MFE

9

Career opportunities

10

Our Students:

Testimonials Employment Opportunities Profile of Students

13

Scholarships

14

Distance-learning

16

Facilities for Students

17

Living in Singapore

18

Applications and Contact Details

19

Training:

FICS Program Certificate in Financial Engineering PRM TM Certification Training Program In-house Training Courses Executive Seminars

21

Contact Information

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NATIONAL UNIVERSITY OF SINGAPORE RISK MANAGEMENT INSTITUTE

RESEARCH

CREDIT RATING INITIATIVE

Credit rating agencies (CRAs) provide a vital measure of the credit-worthiness of debt issuers. The ratings given by CRAs are referenced in regulatory frameworks and collateral agreements, and are often used to assess the suitability for investment in a particular firm or product. As such, CRAs and the role they play are a key component of the global financial system. RMI has launched a large scale credit ratings initiative that will provide ratings on the 500 largest Asian companies by 2011. The intention of this initiative is not to be a competitor to the established CRAs, but instead to spur research and bring new ideas to this vital area.

TRANSPARENCY

Globally, the three largest CRAs account for an over- whelming portion of the market share of all CRAs. With so much of the financial system dependent on the ratings from the three largest CRAs, the knock-on effects of any change in rating from any of them is magnified. This can make them reluctant to down- grade a firm’s rating even if it is apparent that its credit quality has deteriorated. This has been widely acknowledged to have occurred in cases such as the failures of Enron, Lehman Brothers and AIG. While the major CRAs have proprietary rating methodologies, RMI is committed to maintaining full transparency, and to make the developed method- ologies available to any interested party. The aim is to contribute to the development of rating methodolo- gies and spur others to improve their rating practices.

A NEW MODE OF RESEARCH

RESEARCH CREDIT RATING INITIATIVE

RESEARCH INFRASTRUCTURE

For any academic researcher who wishes to embark on

a research project on credit ratings, there is a high

barrier to entry in terms of the enormous quantities of

data that have to be collected. Although our goal is to rate the 500 largest Asian firms, data on a larger universe of firms is required. Our database will cover over 18,000 listed firms in selected countries, as well

as over 2,000 bankrupted and otherwise delisted firms.

In addition to company-specific data like financial statements, stock prices, bond prices and CDS rates, our database will include industry and country specific financial and economic data. When we invite external teams to work at RMI, they will have full access to this database. In addition, RMI’s research team will serve to independently validate the methodologies devised by other modeling teams.

Without the need for our rating methodology to be

NON-PROFIT

proprietary, our mode of research can be more open than other CRAs. We will be inviting five to seven modeling teams to compete and collaborate on the final ratings methodology. This collaboration process will bring in a greater number of ideas that can be refined. We call this a “selective Wikipedia” mode of research. A global call for proposals for rating methodologies will be held, and successful applicants will be able to obtain full funding support from RMI to come to

The three major CRAs charge fees from debt-issuers in order to obtain ratings. This introduces conflicts of interest, such as cases where debt-issuers can shop for the most favorable rating, or cases where a CRA is reluctant to downgrade a fee-paying client. RMI’s credit rating initiative will be funded by grants from governmental bodies and revenues from other RMI operations. As such, we do not need to charge fees from debt-issuers and will not face the same conflicts of interest.

Singapore for a three to six month period to test and tune their proposals on our database of Asian firms.

FOCUS IN ASIA

As part of RMI’s annual conference in 2010, a symposium will be held for the modeling teams to debate their research findings. Academics, regulators and industry participants will also be invited to this symposium to comment on the findings. From that point, the Asian top 500 firms will be rated on a pre- liminary basis and the rating results will be evaluated and compared during the next year. During RMI’s 5th annual conference in 2011, the

RMI’s initial focus will be primarily on countries within Asia. The constructed database will cover 11 countries consisting of Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore, South Korea, Taiwan and Thailand, and the 500 firms to be rated will be selected from this list. The Asian Development Bank has noted that the ratings of the major CRAs seem to be less accurate in many of these countries, with the CRAs making little

best model or combination of models will be present-

or

no mention of the accumulating financial problems

ed. The Asian Top 500 firms will be officially rated and

in

Asia in the mid 1990’s. However, the accuracy of the

tracked. RMI will release the official ratings and research findings in a publication provisionally titled “Asian Credit Review”.

eventual rating methodology should be competitive not just in this region neglected by the major CRAs, but also on a global basis.

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NATIONAL UNIVERSITY OF SINGAPORE RISK MANAGEMENT INSTITUTE

ANNUAL CONFERENCE

RMI holds an annual conference in July that covers topics in both policy and research.

The first part of the conference is a policy forum that features presentations from leading global practitioners on topical themes in risk management. In the scientific program that follows the policy forum, the presenta- tions include research papers selected following a global call for papers. Over a short span of three years RMI’s Risk Management Conference has evolved into one of the premier conferences on risk management in the region. The first conference held in 2007 titled ‘Capital flows and asset prices: The international dimension of risk’ attracted over 250 participants. The speakers included Nobel laureate Prof Robert Merton (Harvard), Dr Janet Yellen (President, Federal Reserve Board of San Francisco), Prof John Hull (University of Toronto), Prof Nouriel Roubini (NYU), Dr David Li (Barclays Capital), Prof Andrew Rose (UC Berkeley), Heng Swee Keat (Monetary Authority of Singapore), and repre- sentatives from Deutsche Bank, the European Central Bank, Barclays Capital and DBS. Over 300 delegates attended the second conference in 2008 entitled ‘The challenges of risk management in volatile financial markets’. Nobel Laureate Prof Robert Engle (NYU), Prof Carl Chiarella (University of Technology at Sydney), Xunyu Zhou (Oxford University), Peter Ritchken (Case Western Reserve University), Jianqing Fan (Princeton University), and representatives from The US Federal Reserve, Bank of Canada, and Deutsche Bundesbank were among the speakers. Over 70% of the participants were professionals from the financial industry. The third annual conference, ‘Systemic risk and the challenges for risk management’ to be held from July 16-18, 2009 features Dr Malcolm Knight (Vice- Chairman, Deutsche Bank), Prof Paul Embrechts (ETH Zurich), Prof Ruey Tsay (University of Chicago), and Fabio Mercurio (Bloomberg) as speakers. For the first time, the policy forum at this conference will be organised in collaboration with the Institute of Banking and Finance (IBF) and the International Association of Credit Portfolio Managers (IACPM).

with the Institute of Banking and Finance (IBF) and the International Association of Credit Portfolio Managers
with the Institute of Banking and Finance (IBF) and the International Association of Credit Portfolio Managers
with the Institute of Banking and Finance (IBF) and the International Association of Credit Portfolio Managers

RESEARCH ANNUAL CONFERENCE | OTHER RESEARCH ACTIVITIES

OTHER RESEARCH ACTIVITIES

RESEARCH WORKSHOPS

RMI conducts research roundtables, seminars and workshops on a variety of topics related to risk management and financial engineering. The monthly research workshops are held on the first Friday of every month except January, July and August.

RESEARCH FOCUS GROUPS

In order to streamline research activities and provide a focus to ongoing research, the 60 affiliated researchers are organized into 3 focus groups. These are:

Risk Management Theory and Practice

Sample topics: design of risk-mitigating financial instruments, corporate risk management practice, hedge funds, real estate, finance, mortgage portfolio risk. Financial Engineering and Mathematics

Sample topics: stochastic analysis of financial con- tracts, optimization tools, Monte Carlo techniques, grid computing. Financial Econometrics and Statistics Sample topics: time series modeling of financial data, nonparametric statistical tools for financial problems, default risk analysis.

RESEARCH PROJECT GRANTS

RMI is unique in that it is a grant-giving research institution. Projects spanning a wide range of areas in financial risk management are funded by RMI. The principal investigators are faculty from either NUS or the University of California, Berkeley.

ACADEMIC VISITORS

RMI has hosted numerous visitors in the past, for periods of several days to several months. Some visitors in the past are: Rene Garcia (EDHEC), Wolfgang Härdle (Humboldt-Universität zu Berlin), Li Haitao (University of Michigan), Steven Kou (Columbia University), Kris Jacobs (McGill University), Stan Pliska (University of Illinois-Chicago), Hans Föllmer (Humboldt University-Berlin), Nancy Wallace

(UC-Berkeley), Yacine Aït-Sahalia (Princeton University), Fan Jianqing (Princeton University), Michael Gordy (US Federal Reserve Board), Chung- Ming Kuan (Academia Sinica), Dan Galai (Hebrew University), Prasanna Gai (Australia National University), Robert Anderson (UC-Berkeley), Ser-Huang Poon (University of Manchester), Peter Hansen (Stanford University), Yue-Kuen Kwok (HK University of Science & Technology) and Mao-Wei Hung (National Taiwan University).

INDUSTRY COLLABORATIONS

RMI is actively engaged in collaborative projects with financial institutions and other industry participants. These include a memorandum of understanding (MoU) signed with the Singapore Exchange (SGX) to conduct research for new products such as property derivatives, carbon-based assets and volatility indices. Other projects that have been completed or are in progress include an algorithmic trading program, a global tactical asset allocation project and a mortgage insurance project.

include an algorithmic trading program, a global tactical asset allocation project and a mortgage insurance project.

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EDUCATION

MASTER OF SCIENCE IN FINANCIAL ENGINEERING (MFE)

The Master of Science in Financial Engineering (MFE) degree is a multi-disciplinary program that combines finance, mathematics, and computing with a practical orientation to solving problems in finance. The MFE was launched in 1999 by the predecessor of RMI, the Centre for Financial Engineering at NUS. It aims to equip finance and banking industry professionals and fresh graduates with current knowledge and skills in risk management, financial innovations and technology. The domain knowledge includes risk analysis, risk management, hedging, portfolio management financial product development, and computational methods.

EDUCATION MASTER OF SCIENCE IN FINANCIAL ENGINEERING (MFE)

W ith the recent financial crisis, it has become increasingly apparent that an era in financial history has passed. The

originate-to-distribute model of banking has failed emphatically. Financial instruments must make economic sense to the client instead of being issued for the purpose of collecting fees and commissions. There is no longer an appetite among regulators or clients for ever more exotic structured products and derivatives. The armies of quants that had been narrowly trained for the creation and support of such instruments will find a reduction in their roles. Graduates of financial engineering programs that will be sought by industry are those who are quantita- tively skilled, have a broader understanding of risk and can effectively communicate the concepts of risk to clients and management. Among the many MFE programs available, the RMI MFE distinguishes itself by striving to teach students not just the theoretical background necessary to approach financial problems, but also the practical know-how and financial intuition to conceptualize, communicate and solve these problems. We are not overly focused on quantitative areas. Instead we aim to prepare students through a full career arc where operational implementation is just the beginning.

ADMINISTRATION AND TEACHING FACULTY

The MFE degree is awarded by the National University of Singapore and administered by RMI. The teaching staff is drawn from the Departments of Finance, Mathematics, Statistics, and Economics. It is a multi- disciplinary program that draws upon the established strengths of the various NUS Faculties. The program provides opportunities to attend lectures and seminars given by eminent professors from major universities across the globe. In addition to modules taught by academics, some modules are taught by senior bankers and other practitioners in the relevant field. They are able to bring their industry perspectives to the classroom and share the unique insights they acquired through their rich work experience. The MFE program also offers elective modules conducted overseas at an intensive pace over one week. The 2009 overseas modules were hosted by Princeton University and the University of Waterloo.

by Princeton University and the University of Waterloo. PROGRAM STRUCTURE The NUS MFE program has one

PROGRAM STRUCTURE

The NUS MFE program has one intake per year, with candidates joining in July. The program is offered as a full-time, part-time and distance-learning program. The minimum and maximum periods of candidature are 18 months and 4 years for the part-time and distance- learning students. The minimum and maximum periods of candidature are 1 year and 2 years for full- time students.

AWARDS FOR MFE GRADUATES

The MFE program has attracted strong support from industry in the form of contributions for the following awards, given annually to students graduating from the program:

DBS Gold Medal

Reuters Book Prize

MAS Prize

ST Engineering Prize

PSA Prize

ABN-AMRO Finance Prize

Singapore Technology Prize

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DETAILED INFORMATION

ADMISSION REQUIREMENTS

MODULE REQUIREMENTS

Admissions are highly competitive as we receive a large number of applications every year. General guidelines for successful applicants are:

To graduate from the program, each candidate is required to complete ten modules. Of these, five are compulsory modules. Students are also expected to

A good 4-year undergraduate degree or an honors

complete a compulsory financial engineering project module. Candidates must also choose four elective

degree; A good GMAT or GRE score;

modules from a regular selection of seven. Candidates must also complete a minimum of three modules in

A good TOEFL score if English was not the medium

the first year.

of instruction in undergraduate studies; Relevant work experience will be considered favorably.

CURRICULUM** Compulsory Modules

TUITION AND FEES* – JULY 2010 INTAKE

FE5101

Derivatives and Fixed Income

Application Fee

FE5102

Quantitative Methods and Programming

S$50 for online applications, S$100 for hardcopy

FE5103

Equity Products and Exotics

applications.

FE5106

Advanced Numerical Methods

FE5107

Risk Analyses and Management

Acceptance Fee

FE5110

Financial Engineering Project

S$1000 (will be credited towards the payment of tuition for the first semester)

Regularly Offered Elective Modules

 

FE5105

Corporate Financing and Risk

Total Tuition Fee S$26,000 (inclusive of GST)

FE5108

Portfolio Theory and Investments

FE5204

Stochastic Calculus and Processes

FE5209

Financial Econometrics

FE5211

Seminar in Financial Engineering

FE5215

Seminar in Financial Product Innovations

FE5216

Financial Technology Innovations Seminar

*Tuition fees are subject to change. Please visit our web site for the most up-to date information on tuition fees. **The offered elective modules are subject to change.

DETAILED INFORMATION MASTER OF SCIENCE IN FINANCIAL ENGINEERING (MFE) | CAREER OPPORTUNITIES

CAREER OPPORTUNITIES

Career opportunities for financial engineers are available worldwide in commercial and investment banks, brokerage and securities firms, treasury and financial planning departments of non-financial corporations, insurance companies, consulting, investment advisories, hedge funds, pension funds, and financial software and technology businesses. The distinctive combination of skills nurtured by this program - understanding of complex financial strategies, financial modeling ability, and computa- tional proficiency - is in high demand. It is difficult for employers to find these skills in graduates of traditional MBA programs or among those with traditional quantitative degrees such as engineering, physics or mathematics. As an increasing emphasis will be placed on regula- tion, auditing and risk management, it is natural that government regulators, credit rating agencies, and accounting firms will play a more competitive role in hiring.

CAREER SERVICES

As a long-running program in financial engineering, many of the financial institutions with operations in Singapore are familiar with the NUS MFE and regularly send their employees into our program. For open positions, they will seek out our students and alumni by sending us job advertisements. To further facilitate this, a jobs portal exclusively for NUS MFE students and alumni will shortly be made available. This portal will allow human resource officers in financial institutions and recruiting agencies to conveniently search our student and alumni database. Seminars for CV and cover letter writing, as well as communication and interviewing skills will be arranged to help students with the softer skills that do not fall under the MFE curriculum, but can be just as important. Students can also benefit from the strength of our alumni. There have been almost 400 graduates from the NUS MFE with some having reached senior positions in their firms. This large community is a good network within the financial industry that our students can draw on.

in their firms. This large community is a good network within the financial industry that our

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OUR STUDENTS’ TESTIMONIALS

UNIVERSITY OF SINGAPORE OUR STUDENTS’ TESTIMONIALS “The explosive use of derivatives and the imperative need

“The explosive use of derivatives and the imperative need for risk management draws me to a course that offers substance that could stretch my mind. The NUS MFE’s remarkable appeal will continue to grow with its strong focus on imparting quantitative, mathematics and program- ming knowledge. NUS-MFE not only provides students with highly qualified lecturers, students also benefited from the thought processes of visiting professors from other universities as well as the distinctive experiences from the overseas exchange program to Princeton.”

from the overseas exchange program to Princeton.” “NUS-MFE offers a wide range of course- work that

“NUS-MFE offers a wide range of course- work that covers mathematics, finance and computing. The extensive use of derivatives, together with the intensive programming allows us to put what we learnt in theory to practical use at work. I greatly appreciate the effort of RMI in ensuring that every student benefits from this program regard- less of background. NUS-MFE program is ever evolving to better suit the needs of the student depending on the development in the financial market. I had a remarkable learning experience with NUS-MFE.”

Mandy Loo

Shirley Tee Associate Director

Director

Wealth Management

Investment Group

Investment Management

HSBC

UBS AG

Investment Group Investment Management HSBC UBS AG “Before attending the NUS MFE, I had wanted to

“Before attending the NUS MFE, I had wanted to switch my career to the financial industry. But only during my study in the MFE did I first see that I could realize my dream. Well-organized, the program covers a broad spectrum of interesting topics in financial engineering. There I really enjoyed every module that I attended and acquired new ideas from every lecture and every discussion with my classmates from different backgrounds. And more importantly, the program efficiently links financial knowledge to quantitative and analytical skills, which makes my previous engineering background still invaluable for me to pursue further success in the financial industry.”

Chen Zhen Assistant Director Investment Risk Management Division Finance Department Monetary Authority of Singapore

Division Finance Department Monetary Authority of Singapore “Coming from a background in chemical engineering, I was

“Coming from a background in chemical engineering, I was able to leverage my experience at the NUS-MFE into a position in finance. The program is unique in allowing students to continue in their careers while pursuing their studies. Balancing an education, job and family is demanding, but the staff at RMI were always helpful and accommodating. I appreciated talking to those students who were already in the financial industry and gained from their experiences. Many of my classmates are now my friends, and I look forward to meeting them at alumni events and through work.”

Darren Ong Management Associate IPB Citibank

OUR STUDENTS TESTIMONIALS | EMPLOYMENT OPPORTUNITIES

FINANCIAL ENGINEERS ALUMNI

The Financial Engineers Alumni is a club set up in 2007 and supported by RMI to provide a service to MFE alumni. An annual dinner is held to help alumni keep in touch with old classmates and provides networking opportunities with new other intakes. The club also arranges research talks given by leading researchers. Past speakers at alumni events include Emanuel Derman (Columbia University), Terry Benzschawel (Citigroup Global Markets) and Lutfey Siddiqi (Barclays Capital). Current students are also welcome to attend these events.

EMPLOYMENT OPPORTUNITIES MFE students and alumni find employment in a wide variety of financial institutions,
EMPLOYMENT
OPPORTUNITIES
MFE students and alumni find
employment in a wide variety of
financial institutions, including domestic
and international banks, regulatory
agencies, consultancies, hedge funds
and sovereign wealth funds.
A sample of employers where MFE students have
been placed include:
ABN AMRO Bank
Bank of America
Bank of China
Bank of Tokyo Mitsubishi
Barclays Capital
Bayerische Hypo-und Vereinsbank
BNP Paribas Group
Citigroup
Credit Suisse
DBS Bank
Deloitte & Touche
Deutsche Bank
Ernst & Young
Goldman Sachs
Government of Singapore Investment
Corporation (GIC)
HSBC
JP Morgan
Monetary Authority of Singapore
Morgan Stanley
Murex
Reuters
State Street Global Advisors
Temasek Holdings
UBS

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PROFILE OF STUDENTS

W hile the full-time option was added for the 2009 intake, the intention is for the MFE to remain a primarily part-time

program, with never more than 20% of the intake as full-time students. There are distinct advantages in having a majority part-time program. Many of these students already experienced in the financial sector can share their experiences with their classmates. Among students from other industries, most have already found success in their fields but are joining the MFE program because of their passion for finance. On the other hand, the full-time students consist of mid-career switchers who want a fast transition to the financial world, as well as fresh graduates from Singapore and overseas. Their inclusion brings a new perspective to the MFE. The broad spectrum of the MFE student body with their diverse backgrounds is a unique strength of the program.

ENROLMENT PROFILE*

Average Age: 29 Average Post-University Work Experience: 5 years Average GMAT: 678

PRIOR DEGREES

Bachelor’s: 72% Master's and PhD: 28%

WORK EXPERIENCE

Banking and Finance: 53% Engineering: 22% IT: 10% Fresh Graduates: 4% Others: 11%

*Statistics are from the 2009 intake.

UNDERGRADUATE MAJORS

Computer Science: 4% Economics and Business: 14% Engineering: 57% Science: 17% Others: 8%

intake. UNDERGRADUATE MAJORS Computer Science: 4% Economics and Business: 14% Engineering: 57% Science: 17% Others: 8%
intake. UNDERGRADUATE MAJORS Computer Science: 4% Economics and Business: 14% Engineering: 57% Science: 17% Others: 8%
intake. UNDERGRADUATE MAJORS Computer Science: 4% Economics and Business: 14% Engineering: 57% Science: 17% Others: 8%
intake. UNDERGRADUATE MAJORS Computer Science: 4% Economics and Business: 14% Engineering: 57% Science: 17% Others: 8%
intake. UNDERGRADUATE MAJORS Computer Science: 4% Economics and Business: 14% Engineering: 57% Science: 17% Others: 8%

SCHOLARSHIPS

FINANCE SCHOLARSHIP PROGRAM BY THE MONETARY AUTHORITY OF SINGAPORE

The NUS MFE is an approved program under the Finance Scholarship Program (FSP) administered by the Monetary Authority of Singapore. Singaporeans and Singapore Permanent Residents are eligible for the FSP scholarships. Interested applicants should submit their applications to the FSDF Secretariat directly by the stipulated deadline. For more details, please contact the FSDF Secretariat at (65) 62299396 or via email at fsdf@mas.gov.sg.

CAPITALAND INTERNATIONAL SCHOLARSHIPS

Vietnamese and Chinese nationals are eligible for the CapitaLand International Scholarships. The scholar- ship will cover all tuition and compulsory fees. Recipients will be given return airfare and allowances for their housing, living expenses, family subsistence and settling-in as part of the scholarships. They will also receive a one-time book and computer subsidy. The recipient will be required to work for CapitaLand Group for a consecutive period of 24 to 36 months

OUR STUDENTS PROFILE OF STUDENTS | SCHOLARSHIPS

from the completion date of study. Additional details are available at: http://www.capitalandcommercial.com/

en/AboutCapitaLand/Scholarships/Scholarship8.htm

RMI SCHOLARSHIPS AND INTERNSHIPS

Students who are taking the MFE on a full-time basis are eligible for an RMI Scholarship. Together with a full tuition waiver, recipients will also receive a paid research internship for 16 hours a week and 45 weeks during the year. Interns will be assigned work on some of RMI’s industrial research projects. Recipients of the scholarship will be chosen on the basis of their previous research experience, ability to work in a team, attitude and likelihood of performing well in their coursework and future careers in the financial industry. In addition to the two RMI scholarships, there may be other internship opportunities with some of our industry partners. RMI will also be offering two other research internships for MFE students without a tuition waiver. For all RMI research internships, the rate of pay will be at the standard NUS rate based on the intern’s qualifications.

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DISTANCE-LEARNING

WHY DISTANCE-LEARNING?

1.

You will study the same syllabus, use the same materials, be assessed through the same examinations and graduate with the same degree as a student who studies on-campus

2.

Flexible study at home, in the office, while travelling, without needing to attend lectures at fixed times

3. There is no disruption to your career

EDUCATION MASTER OF SCIENCE IN FINANCIAL ENGINEERING (MFE) “I started as an on-campus student but
EDUCATION MASTER OF SCIENCE IN FINANCIAL ENGINEERING (MFE) “I started as an on-campus student but

EDUCATION MASTER OF SCIENCE IN FINANCIAL ENGINEERING (MFE)

“I started as an on-campus student but switched to distance learning as I was transferred to Hong Kong. The support from the faculty, staff and my fellow students quickly put to rest any anxiety that I had about ‘distance-learning’. The quality of the live streaming and recorded classes was superb and the lecturers paid special attention, like repeating the questions from on-campus class before answering them, which made me feel like I was in the class itself.”

Shishir Prasad Director Products and Services UBS AG Hong Kong

“After my MBA in Finance from The Wharton School, University of Pennsylvania I was looking to further my interest in quantitative finance for my new role as a derivatives trader with Standard Chartered Bank. I was recommended by many leading Professors in the US about the MFE program at NUS, not just for the academic rigor and research but also for its bench- marking with global standards and close interaction with industry. I have been very impressed with the course content and IVLE as a communication media, which is truly world-class.”

Sanjay Khanduri Associate Director FX Options Trading Standard Chartered Bank Hong Kong

DISTANCE MODE AND METHODS OF DELIVERY

The distance-learning students will follow the same program of study as the on-campus students. They will use the same learning materials and will be required to complete the same assignments and assessment tasks. Distance-learning students can take part in the class live through internet streaming video or alternatively view the class later from the archived video. In either case, the video will show what is seen on the lecturer's computer screen, with the lecturer able to write on the tablet screen.

IVLE - THE INTEGRATED VIRTUAL LEARNING ENVIRONMENT

This special designed courseware management

system provides full support for teaching and learning over the Internet. With the IVLE system we can facili- tate the organization of course materials, administer assignments and online quizzes, implement bulletin boards and chat rooms, and provide other features in

a secure web environment with full participant

authentication. All student and instructor interfaces can be accessed using any web browser on any Internet-connected computer. Through the Virtual Classroom system which is integrated with IVLE, distance-learning students are

able to view the same class as the on-campus students

in real-time. “You do not need to go to the classroom.

The classroom comes to you!”

VALUE ADD FOR ON-CAMPUS STUDENTS

Since videos of the lectures are archived for distance-learning students, this allows us to give on-campus students more flexibility. Students who have busy travel schedules or have difficulty in finishing work on time will be given access to the archived lectures. This ensures that students need not fall behind in their studies.

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FACILITIES

INSTITUTE NATIONAL UNIVERSITY OF SINGAPORE FACILITIES CAMPUS RMI is located on the main NUS campus, the
INSTITUTE NATIONAL UNIVERSITY OF SINGAPORE FACILITIES CAMPUS RMI is located on the main NUS campus, the
INSTITUTE NATIONAL UNIVERSITY OF SINGAPORE FACILITIES CAMPUS RMI is located on the main NUS campus, the
INSTITUTE NATIONAL UNIVERSITY OF SINGAPORE FACILITIES CAMPUS RMI is located on the main NUS campus, the
INSTITUTE NATIONAL UNIVERSITY OF SINGAPORE FACILITIES CAMPUS RMI is located on the main NUS campus, the
INSTITUTE NATIONAL UNIVERSITY OF SINGAPORE FACILITIES CAMPUS RMI is located on the main NUS campus, the

CAMPUS

RMI is located on the main NUS campus, the 150 hectare Kent Ridge campus that houses 12 faculties which offer courses ranging from medicine to architecture to music. NUS offers its members a vibrant intellectual atmosphere for study and recreation. The campus is well served by an internal bus service and well connected to other parts of Singapore by public transportation. The campus has several stores, dining facilities, a sports center and many other student facilities. The University has 200 Graduate Student Apartments (GSA) located in Prince George’s Park Residences. NUS has a sports and recreation center that offers over 70 competitive and recreational sport- ing activities to the NUS community with the aim of allowing a holistic lifestyle and facilitating the develop- ment of character and life skills. There is a museum and center for fine arts where music and theatrical performances are performed on a regular basis.

IT SERVICES

NUS has an extensive network of IT resources for students and faculty. The entire campus has wireless internet access and there is extensive support available for computer users. Students and faculty can also use Virtual Private Network to use on-campus facilities such as online library access even when they are outside NUS campus. There is an IT Co-op where computers and related equipment can be purchased.

LIBRARIES

NUS has seven libraries out of which the Central library, Science library and the Hon Sui Sen Memorial library are of greatest relevance to students at RMI. The collection of NUS libraries is rich and diverse in terms of the breadth and depth of coverage. NUS libraries aim to encourage and support both the scholarly pursuits and the practical research activities of NUS staff and students. Electronic resources from the library include access to the vast majority of academic journals in publication today.

RMI FACILITIES

RMI moved to its permanent home in June 2009. We are conveniently located next to NUS Business School and have a fully equipped computer lab, a dedicated lecture theatre and an executive seminar room. The terminals in the computer lab contain Reuters access for their comprehensive data and information access. The computer lab also contains a Bloomberg terminal. Full distance-learning facilities will be available in order to conduct the online lectures seamlessly.

LIVING IN SINGAPORE

As a vibrant and cosmopolitan city, Singapore continues to attract people from all over the world. It is multicultural in all respects: events, public holidays and most importantly for Singaporeans, cuisine! Differences are celebrated and people of any background will be able to find their niche in Singapore. Traditions are preserved but innovation is embraced with never a dull moment in between.

FACILITIES | LIVING IN SINGAPORE

S ingapore boasts one of the highest standards of living in Asia and has an efficient, well- maintained infrastructure. Personal safety is

seldom a concern as compared to other major cities. Singapore remains a bastion of political stability, and for that reason private banking has been growing through the years. The government is forward-looking and invests in the future through research in cutting edge fields such as bio-medicine, nanotechnology and renewable energies. The area of risk management has been identified as an area in which Singapore can excel in, in order to lead the region as its financial hub.

COST OF LIVING IN SINGAPORE

International students, living conservatively, can expect expenses to be in the following ranges (all figures in Singapore dollars per month):

Rent: $400-800

Utilities: $50-100

Food: $300-500

Public transportation (off campus): $50-100

Books and stationery: $200-300 (per semester)

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APPLICATIONS AND CONTACT DETAILS

O nline applications for the MFE are available through our web site. For the July 2010 intake, the deadline for all applications is

19 March 2010. To be considered for first or second round early admission, applications must reach us by 8 January or 8 February 2010. Short-listed applicants will be interviewed. To get more details on the MFE, please contact RMI.

Risk Management Institute

National University of Singapore 21 Heng Mui Keng Terrace, Level 4 Singapore 119613 Phone: +65 6516 4595/1011 Fax: +65 6874 5430 MFE website: http://www.rmi.nus.edu.sg/mfe/

MFE ADMINISTRATION CONTACT LIST

Program Director Dr Oliver Chen

ochen@nus.edu.sg

Program Manager Ms Jenny Chen

rmicy@nus.edu.sg

Program Coordinators Ms Norhayati Kum

rmink@nus.edu.sg

Ms He Simin

rmihs@nus.edu.sg

Official Operating Hours

(Singapore standard time, GMT+8) Monday to Thursday: 8.30am - 6.00pm Friday: 8.30am - 5.30pm

Official Operating Hours (Singapore standard time, GMT+8) Monday to Thursday: 8.30am - 6.00pm Friday: 8.30am -

TRAINING

CERTIFICATION PROGRAMS

RMI conducts a number of certification programs, executive seminars and short courses. The prominent certification programs include the Berkeley-NUS certificate in Financial Engineering conducted along with the UC Berkeley, the PRM TM Certification training program in association with the PRMIA, and the FICS program in association with the IBF.

FICS Program

www.rmi.nus.edu.sg/fics RMI is the lead provider for risk management segment of the Financial Industry Competency Standards (FICS) program in collaboration with the Institute of Banking and Finance (IBF), MAS and the Workforce Development Agency (WDA). This is a national level accredited program that aims at raising the quality of Singapore's financial workforce.

There are 8 job families under this program:

Credit Analytics Credit Risk Management - Consumer Banking Credit Risk Management - Corporate Banking Liquidity and Balance Sheet Management - Banking LiquidityandBalanceSheetManagement-Insurance Market Risk Analytics Market Risk Management Operational Risk Management

Certificate in Financial Engineering

www.rmi.nus.edu.sg/cfe The Certificate in Financial Engineering program evolved out of collaboration between two premier global institutions of higher learning - the University of California, Berkeley and NUS. Internationally renowned professors from the Haas School of Business, UC Berkeley Finance Department, NUS Business School and RMI teach in the program.

The program equips professionals from the finance sector with state-of-the-art skills in financial engineer- ing that over the past two decades have revolutionised the field of finance. The program comprises of two one-week modules. The modules though distinct, are integrated to provide a coherent and deep insight into the theory and practice of financial engineering.

APPLICATIONS AND CONTACT DETAILS | TRAINING

PRM TM Certification Training Program

www.rmi.nus.edu.sg/prm This program helps to prepare professionals in the financial industry for the rigorous examinations for the Professional Risk Managers' (PRM TM ) certification program. This certification is globally recognized and is administered by the Professional Risk Managers' International Association (PRMIA).

The PRM™ Standard is recognized world-wide and is the benchmark against which the best risk profession- als measure their skills. The PRM™ Standard offers predictive power by assuring that the exam candidate is being tested in all areas of risk management for the required broad knowledge and understanding that risk managers must bring to the job.

IN-HOUSE TRAINING COURSES

RMI also customises training courses to meet the unique needs of clients in the financial sector as well as regulatory agencies. It has provided in-house training programs for MAS and other organizations. Topics include market risk management, credit risk manage- ment, operational risk management, performance measurement and attribution, and equity derivatives and structured products.

Executive seminars

RMI conducts occasional seminars for senior executives to highlight recent and ongoing research and develop- ments in topical issues. Recent executive seminars have focused on topics such as corporate governance, risk management, modeling of operational risk and credit derivatives. RMI has also conducted short in- house courses for various financial institutions as well as for visiting MBA students.

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RISK MANAGEMENT INSTITUTE NATIONAL UNIVERSITY OF SINGAPORE PUBLIC LECTURE SERIES The financial crisis of 2008 made
RISK MANAGEMENT INSTITUTE NATIONAL UNIVERSITY OF SINGAPORE PUBLIC LECTURE SERIES The financial crisis of 2008 made
RISK MANAGEMENT INSTITUTE NATIONAL UNIVERSITY OF SINGAPORE PUBLIC LECTURE SERIES The financial crisis of 2008 made

PUBLIC LECTURE SERIES

The financial crisis of 2008 made it painfully obvious that the level of financial knowledge has been too low for much of the investing public. In response, the NUS Risk Management Institute held a free public lecture series at the end of 2008 on topics covering both personal finance and global events that affect personal finance.

The series was aimed towards those with little or no background in finance so that they could better understand what was happening in the world of finance. Speakers included professors and professionals from NUS and industry. The lectures were given in separate English and Chinese versions to be accessible to a wide audience. The lectures were well attended, drawing an audience of up to 200 for each session.

RMI looks forward to offering further public lecture series in response to the broad interest.

CONTACT INFORMATION CONTACT INFORMATION RISK MANAGEMENT INSTITUTE National University of Singapore 21 Heng Mui Keng

CONTACT INFORMATION

CONTACT

INFORMATION

RISK MANAGEMENT INSTITUTE National University of Singapore 21 Heng Mui Keng Terrace, Level 4, Singapore 119613 Fax: +65 6874 5430 Website: http://www.rmi.nus.edu.sg/

For enquiries in the following areas, please contact:

Research Positions Ms Geraldine Wong

rmiwkk@nus.edu.sg +65 6516 3380

Annual Conference Ms E’leen Lau

rmilyh@nus.edu.sg +65 6516 7127

Workshops / Seminars Ms Geraldine Wong

rmiwkk@nus.edu.sg +65 6516 3380

Master of Science in Financial Engineering (MFE) degree

Ms Norhayati Kum Ms He Simin

rmink@nus.edu.sg rmihs@nus.edu.sg +65 6516 4595

Financial Industry Competency Standards (FICS) Program

Ms Jaslin Chong

rmicsh@nus.edu.sg +65 6516 8497

Certificate in Financial Engineering Program

Ms E’leen Lau

rmilyh@nus.edu.sg +65 6516 7127

Professional Risk Manager (PRM TM ) Certification Training

Ms He Simin

rmihs@nus.edu.sg +65 6516 4595

www.rmi.nus.edu.sg

National University of Singapore | Risk Management Institute (RMI) 21 Heng Mui Keng Terrace, Level 4, Singapore 119613. Tel: (65) 6516 3380 Fax: (65) 6874 5430