MSC FINANCIAL ENGINEERING

Bridging the Knowledge Gap with MSc Financial Engineering

​In a fast-changing financial landscape driven by technology, professionals with strong quantitative and programming skills will possess a competitive edge. For many such professionals, a Masters in Financial Engineering offers a launchpad for career growth in diverse sectors – from trading to risk management.

Hùng Phạm Khắc can attest to this. Having stepped into a model risk management role at one of Vietnam’s leading banks, Hùng found himself struggling to understand certain terms and concepts used by his colleagues. “This knowledge gap became a significant drawback, prompting me to seek further education,” he says.

We sat down with him to find out how the MSc Financial Engineering from Nanyang Business School (NBS) is equipping him with future-ready skillsets, along with his top tips for success in applying to the programme.

​Bridging the knowledge gap

During his undergraduate days, Hùng majored in International Business Economics. While he excelled in finance and mathematics courses, he admits that he found his undergraduate studies “less fulfilling overall”.

After graduation, he entered the banking sector under the model risk management function. This involved evaluating various models from data sampling to development, including credit scoring models, and machine learning models.

“This practical exposure spurred my interest in applying advanced mathematics to real-world financial problems,” he says. “It propelled my shift toward financial engineering, where I could use my expertise to design innovative solutions and navigate the challenges of evolving financial markets.”

However, Hùng found himself scrambling to keep up with his colleagues during meetings, as they discussed advanced financial modelling concepts like Probability of Default (PD). He realised that he needed to build an in-depth understanding of statistical techniques to tackle complex financial questions – something that a Specialised Masters in Financial Engineering could help him achieve.

For someone without a strong programming background like Hùng, NBS’s MSc Financial Engineering (MFE) programme stood out for its inclusivity. “Unlike other universities that often prioritise computer science majors, NBS values any application profile,” Hùng explains. “Students from diverse backgrounds are welcomed.”

Hùng was also on the lookout for a programme with industry relevance, and NBS ticked that box with its team of experienced faculty and industry experts. “The programme is regularly updated to align with industry needs, and it emphasises both strong mathematical foundations and programming skills,” he says. Conversations with MFE alumni about their career growth gave him the inspiration he needed to take the plunge.

Navigating a gruelling application journey

Hùng describes his application journey for the MFE programme as “incredibly challenging and demanding”, particularly since he was juggling a full-time job on top of his preparations.

“I felt particularly anxious when I received a less than ideal Graduate Management Admission Test (GMAT) score,” he recalls, “especially as I had already missed the deadline for Round 1 of applications.” Determined to overcome these stumbling blocks, he poured his efforts into polishing his CV and admission essays, drawing on feedback and advice from his friends.

For many candidates, the interview process is the most nerve-wracking part of the application. Hùng’s strategy was simple: practice, practice, and practice.

“I examined every detail I put on my CV, ensuring I could respond confidently to any question,” shares Hùng. “I even compiled a list of 20 potential questions and created mock interviews to practise my answers thoroughly.”

His hard work paid off – despite being nervous about solving some tough mathematical problems, he sailed through the interview. “I’m immensely grateful that I successfully navigated the interview process in the end,” he says.

Looking back on his experience, Hùng has two lessons to share with fellow prospective candidates. Firstly, allocating sufficient time for research prior to application is key. “I’d say it’s crucial to spend at least a year on advance preparation before the application deadline,” he estimates. “This includes time for exams like the GMAT or Graduate Record Examinations (GRE), especially if you’re a first-time test-taker like myself.”

Secondly, he highlights the importance of conducting an honest self-evaluation of one’s abilities and achievements. “Ask yourself how and why you’re suitable for your chosen programme or industry,” he advises. “What have you done to prove you have the potential to pursue this? Thinking about this can help you better present yourself to the admissions team.”

Taking on today’s fast-paced financial markets

An MSc Financial Engineering offers a stepping stone to diverse paths in the financial industry, and Hùng is not limiting his aspirations at this stage.

“After graduation, I aim to pursue a career in quantitative analysis and financial modelling within the banking or asset management sectors,” he shares. “But I’m also keen on exploring roles related to algorithmic trading, where I can leverage my skills in quantitative analysis and programming to design algorithms that capitalise on market inefficiencies.”

Hùng has confidence that NBS’s MFE programme will equip him with the advanced quantitative and programming skills to open many doors in the finance world.

“What’s really great about this programme is the focus on real-world application,” he emphasises. “I’m not just learning theoretical frameworks; I’m diving into practical skills that are directly useful in the industry. This means I’ll be well-prepared to take on the fast-paced and ever-changing financial markets, making me an asset to future employers.”

Furthermore, the curriculum offers many opportunities for group work and presentations, enabling Hùng to hone his soft skills in communication. “Through my work experience, I know how crucial it is to communicate complex financial ideas to non-technical stakeholders,” he explains. “The ability to identify issues and propose effective solutions clearly and convincingly will give me an edge in the industry.”

Accelerate your career growth with the MSc Financial Engineering programme – a multi-disciplinary programme designed for professionals to excel in a changing financial landscape. Learn more about the programme here.

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