MSC FINANCIAL ENGINEERING

Unlock Global Finance Opportunities: Expand Your Horizons with MFE’s Study Abroad Experience at Carnegie Mellon University

In today’s interconnected world, economies and markets are more closely linked than ever before. As cross-border financial flows continue to rise, finance professionals need a strong grasp of global finance to succeed. And what better way to forge this global outlook than an overseas study experience? 

In Nanyang Business School’s MSc Financial Engineering (MFE) programme, students can spend a term abroad at Carnegie Mellon University – a top US university in Pittsburgh with a renowned Computational Finance programme. For current MFE participant Liu Qiya, this overseas exposure is proving to be a game-changer in her personal and professional growth. 

“This opportunity to study at CMU played a big part in my decision to enrol in NBS’ MFE programme,” she reveals. “I saw it as a perfect chance to gain insight into the American financial industry and foster a global mindset.” 

Fresh from her seven-week term abroad, Qiya shares her experience at CMU – from advanced coding classes to road-trip adventures. 

Taking programming skills to the next level

During their seven weeks at CMU, MFE participants take four modules: Advanced Risk Management, Financial Computing, Simulation Methods, and Term Structure. All these modules call for advanced coding skills – no surprise given CMU’s renown in programming.

“The rigorous coursework at CMU has significantly enhanced my coding skills, especially in languages like C++ and Python,” Qiya says. “I’ve learned advanced programming techniques such as different simulation methods, which will be valuable in my future work.”

Hands-on programming skills are essential in many financial engineering careers, as financial engineers must build and implement models and solutions. More broadly, they must also draw on an interdisciplinary blend of programming, statistics, and financial theory to solve financial problems – another key skill that CMU has helped her hone.

“The modules at CMU emphasised problem-solving and critical thinking skills,” shares Qiya. “I have learned how to systematically address complex problems, break them down into manageable parts, and develop effective solutions. While the assignments have been challenging, they have pushed me to expand my knowledge and skills.”

A real-world learning experience with a global perspective

Most importantly, CMU’s focus on hands-on learning enabled Qiya to put her hard-won skills into action. The modules are designed to encourage practical application through real-world case studies and projects, giving participants immersive insights into the US financial system and beyond.

“The emphasis on real-world relevance in our assignments and coursework has made my learning much more engaging and meaningful, as I can put into practice what I have learned in class,” she reflects.

Furthermore, collaborative learning took centre stage in the classroom, with participants frequently given time for group projects and discussions. Hearing diverse perspectives and experiences from her fellows, Qiya says, has sharpened her communication skills and “further enriched her learning”.

With so much to learn in seven weeks, there’s no doubt that the overseas term was rigorous. The pace and intensity of the coursework came as a surprise, Qiya admits. “Balancing multiple assignments, projects, and exams tested my time management and organisational skills. However, I learned how to prioritise my tasks more effectively and seek support from my professors and fellow participants when needed.”

Overall, Qiya believes that the lessons learned at CMU will give her an edge in her future career.

“By emphasising practical application and collaboration, CMU has provided me with a well-rounded experience that goes beyond theoretical knowledge, equipping me with valuable skills and a global mindset.”

Soaking up the local culture

Despite the programme’s rigour, Qiya found time to explore the charms of Pittsburgh. Set in western Pennsylvania, the city is home to iconic Gilded Age landmarks like the Carnegie Museum of Art, offering a vibrant setting to immerse in American cultural heritage.

Asked about her favourite spot in the city, she highlights the Phipps Conservatory and Botanical Gardens. “It’s a beautiful oasis filled with stunning displays of plants and flowers from around the world, so many of which I’d never seen before,” she recalls. “Exploring the vast gardens and immersing myself in the serene atmosphere was a rejuvenating experience.”

Qiya rented a house in Pittsburgh with her friends for the seven-week stay. This offered a convenient commute to their classes, while enabling them to plan adventures more easily – such as a road-trip to Washington DC.

It was a weekend getaway packed with breathtaking sights, from the Washington Monument to the Lincoln Memorial. “We were in awe to be standing before such historic landmarks and learning more about America’s history,” she shares.

“We also immersed ourselves in the wonders of Washington DC’s museums, including the natural science and spy museums. Though we were walking almost non-stop, the excitement of discovering new places kept us energised. The combination of historical significance, natural beauty, and cultural attractions made our trip truly unforgettable.”

Broadening career horizons for a global career

Wrapping up her final term at CMU, Qiya is set to transition into a full-time career in the financial engineering field.  

Post-graduation, she is confident that having this overseas exposure on her resume will unlock opportunities on a global scale. 

“Being exposed to diverse perspectives and approaches to finance has enabled me to better understand the nuances of the global financial landscape,” she reflects. “This broader viewpoint will be invaluable when working with international clients, understanding global markets, and navigating cross-cultural business interactions.” 

In addition, CMU’s reputation for excellence in finance and technology will help her stand out. “I think it will give me a competitive edge in the global finance industry, where expertise in quantitative analysis, financial modelling, and data-driven decision-making is highly valued,” she says. 

“These skills, combined with my strong foundation in finance, will open doors to an exciting career on an international scale.” 

As global markets become increasingly interconnected, finance leaders need a global perspective to excel. NBS’s MSc Financial Engineering programme is designed to develop global finance professionals, with the real-world skills and cultural agility required to thrive in a complex financial landscape. 

Learn more about the programme here.

Download MSc Financial Engineering Brochure