The most comprehensive program of

financial engineering
Center of Excellence
in Quantitative Finance
and Risk Management

CPFE (7 Months)
CERTIFICATE PROGRAM IN
FINANCIAL ENGINEERING
Live online Instructor-Led Weekend Program
FROM INDIA’S FIRST QUANT FINANCE INSTITUTE
iiqf.org Indian Institute of Quantitative Finance
 Contents

Introduction..........................................3
About CPFE Program ….....................4
The Curriculum....................................7
The Faculty..........................................10
Admission............................................13
Alumni Speak......................................18
About IIQF............................................20
Board of Governors............................23
Awards & Recognitions.....................29
India's First
Contact us............................................30
Quant Finance Institute
2
Introduction - Financial Engineering

Modern Investment Finance is hugely dependent on The best of the global financial institutions like
the implementations of the theories and techniques Investment Banks, Hedge Funds, etc. hire people
of Financial Engineering. Financial Engineering or having strong quantitative skills for “Quant” jobs.
Quantitative Finance as it is alternately known, is a
multidisciplinary field involving the application of
theories from financial economics, physics, This is also a very rewarding and exciting career
mathematics, probability, statistics, operations option for such people as there is ample scope for
research and econometrics using the methods and applying their numerical and creative skills to design
tools of engineering and the practice of computer new things, be it like devising new investment
programming to solve the problems of Investment strategies or be it structuring new financial
Finance. instruments or be it finding methods to value them.

They are continuously competing with their peers

Generally the language of choice for Quant and some of the best of minds in the market and
implementations is C++ along with tools like Matlab, have to out-perform them to generate a superior
return, which is intellectually a very challenging
Mathematica, Stata, etc. and of late Python
work, and this makes it all the more thrilling.
language have become more popular.

Financial Engineering has emerged as a very

prospective career prospect for people with strong
mathematical background like those coming from
engineering, mathematics, statistics, physics or
econometrics background.

3
 About CPFE
Program
OVERVIEW &
PROGRAM HIGHLIGHTS

Indian Institute of Quantitative Finance

Overview & Program Highlights
OVERVIEW
The Certificate Program in Financial Engineering As an applied discipline, financial institutions look
(CPFE) prepares students for technically for the following skill sets in the candidates for
sophisticated jobs with financial institutions, positions in their Quant teams:
financial service providers, financial consulting
services and financial software companies. The ● Strong quantitative background
program is intended for students seeking
comprehensive technical knowledge of vanilla and ● Sound knowledge of the financial theories
exotic derivatives pricing, hedging, trading and
investment strategies and portfolio management in ● Very good implementation skills
equity, currency, interest rates, credit and
mortgages.
This course is designed specifically to meet these
exact needs. This is a course on modelling and
This is a short-term course that requires seven applications of mathematics, statistics and
months of study for the core modules, which makes econometrics in investment finance. The program
it attractive to students with strong quantitative covers all the technical and quantitative aspects of
skills who are willing to make a quick head start in investment finance used in top financial institutions.
the investment finance industry. The applied nature
of the program implies the fact that there is great The combination of skills imparted through this
emphasis in it to impart the practical program viz. understanding of complex financial
implementation skills and techniques that are theories, rigorous exposure to the underlying
actually used by practitioners in top financial mathematical and statistical theories, practical
institutions in the industry, so a considerable part of financial modeling ability and computer
the course time is devoted to teaching implementation proficiency, is in high demand in the
implementation skills along with rigorous industry, and which the employers do not generally
theoretical discourse. find in graduates of standard MBA or engineering
programs.
5
Overview & Program Highlights

PROGRAM HIGHLIGHTS

Rigorous Practical Implementation:

World Class Faculty:

Learn from highly acclaimed Quant practitioners Learn how to combine theory and computational
and academics in Quantitative Finance who have methods with the practical knowledge of the real-
world application areas of these skills. Learn
worked with topmost global investment banks and
practical implementation of models in PYTHON
firms in New York, London, Singapore, Sydney and
more, with academic background from some of the
world’s top universities like Stanford (USA),
Columbia (USA), London Business School, IIM, IIT,
ISI, etc.

Industry focused curriculum:

Advanced curriculum designed by Quant

practitioners from top Wall Street Investment Banks
and financial institutions and industry experts to
prepare job-ready professionals who are highly
sought after by MNC financial institutions. Master
latest Quant skills including Machine Learning..

6
 CPFE Program
COURSE COVERAGE &
CURRICULUM OUTLINE

Indian Institute of Quantitative Finance

 CPFE - Curriculum Outline

CPFE - PRIMER MODULES (Recorded Lecture Based)

Primer 1: Introduction to Investment Finance Primer 2: Introduction to Financial Mathematics Optional

Primers -
▪ Introduction to Finance and Financial Institutions ▪ Introduction to Linear Algebra Registered
▪ Introduction to Capital Markets ▪ Introduction to Differential Calculus Participants
gets access to
▪ Introduction to Debt Markets ▪ Introduction to Integral Calculus
four optional
▪ Introduction to Derivatives Markets ▪ Introduction to Ordinary Differential Equations primers of Pre-
recorded
Primer 3: Introduction to Probability & Statistics Primer 4: Introduction to Programming modules on
▪ Introduction to Probability
Maths/Stats/Fi
▪ Programming in Python nance/Python
▪ Probability Distributions
▪ Descriptive and Inferential Statistics

CPFE - MAIN MODULES

Module 101: Introduction to Financial Engineering Module 102: Financial Mathematics I

▪ Introduction to Financial Economics
▪ Probability Theory
▪ Introduction to Bond Mathematics
▪ Basic Stochastic Processes
▪ Options Fundamentals
▪ Brownian Motion
▪ Introduction to Exotic Options
7
 Overview & Program Highlights

CPFE - MAIN MODULES

Module 103: Financial Mathematics II Module 104 – Machine Learning for Quantitative
Finance (in Python)
▪ Stochastic Calculus ▪ Regression Models
▪ Black-Scholes-Merton Model ▪ Time Series Models
▪ Volatility Forecasting

Module 105 – Numerical Methods Module 106: Derivatives Valuations 1 (in Python)
▪ Equity Derivatives
▪ Numerical Methods for Partial Differential Equations
▪ Currency Derivatives
▪ Monte Carlo Simulation Methods

Module 107: Derivatives Valuations 2 (in Python) Module 108 – Risk Analytics
▪ Interest Rate Derivatives
▪ Introduction to Financial Risk
▪ Credit Derivatives
▪ Market Risk
▪ Credit Risk
▪ Operational and Compliance Risk

9
 About CPFE
Program
FACULTY

Indian Institute of Quantitative Finance

 IIQF Faculty for CPFE Program

DR. AMIT RAM Dr. Vivek Kumar Mishra

● Ph.D. (Statistical Physics and Computational ● Ph.D. in Computer Science from IISC Bangalore
Methods) Stanford University (USA) ● Masters of Engineering from IISC Bangalore
● B. Tech. (Engineering Physics) IIT (Bombay) ● B. Tech from IIT Roorkee
● Over 10 years of experience working in Lehman
Brothers (New York), JP Morgan Chase (New York), ● He is an expert in applying Machine Learning using
Python and R in Algorithmic Trading. He currently works
Standard Chartered (Singapore), Nomura (Mumbai).
for Deep Value an US based firm that develops research-
He is currently Vice President, Quantitative Risk with driven trading algorithms based solely on best
a leading global investment bank, where he is execution.
responsible for VaR methodologies and works on
VaR process. SRIJOY DAS
● MSc. Finance from London Business School
DR. SAMIR RANJAN
● B-Tech from IIT Kanpur
● Ph.D. (Theoretical Physics) Purdue University
(USA) ● Over 14 years of experience in Quantitative analysis
and research that includes areas such as Derivatives
● MS (Mathematical Finance) Columbia University Pricing, Market and Credit risk and has worked in India,
(New York) USA & UK in a variety of roles in international banks and
● Over 10 years of experience working as Financial consulting firms. He is currently working in a leading
Engineer with Bond desk Group in New Jersey (USA). investment bank in model risk management function on
validation of regulatory stress testing models and also
internal stress testing models such as FWST etc.
He currently teaches Financial Mathematics at one of Further he is a thought leader and a scholar who likes to
the leading private universities and is also the connect with, influence and inspire his audience through
Director of the Integrated MBA program. writing, speaking, lecturing and debating and using
world-class network of resources. 11
 IIQF Faculty for CPFE Program

UJWAL DINESH RITESH CHANDRA

● MBA (IIM-Calcutta), FRM, CFA ● MBA IIM Calcutta
● BE (NIT Surat), PG Diploma in Securities Law ● B. Tech. IIT Kanpur and CFA (Level 3 Pass)
● Currently working as a GM of one of the top MNC ● More than 11 years of experience in Credit Risk,
IT Company leading their Risk Management team Corporate Finance & Technology and has worked in
and Derivative Valuations team. Previously he was India, China and Canada in a variety of roles
working with one of the top four Wall Street Banks as
Credit Analyst where he was responsible for
structuring and recommending exposure for fund- He is currently Executive Vice President – Corporate
based, non fund-based and derivative facilities. He Credit Risk with one of the largest private banks.
has experience of statistical modelling of short-term
interest rates in India.

RUPAL MISHRA
● Executive MBA from IIM Kozhikode
● B.Tech from IIT, Kanpur
● More than 10 years of experience in various areas
of finance. He currently works as Vice President,
Fixed Income at one of the largest International Bank
for their Corporate Investment Banking Division. He
has worked as Assistant Vice President at Credit
Suisse, Investment Banking Division. He also been a
regular internal trainer in the organizations that he
has worked in. 12
 About CPFE
Program
ADMISSION PROCEDURES
AND OTHER DETAILS

Indian Institute of Quantitative Finance

 Admission Requirements and other Info.

WHO SHOULD ATTEND PROGRAM DETAILS

● Finance Professionals like Analysts / Fund Managers / Traders Duration (Main Modules): 320 Hours (8 Modules)
/ Risk Professionals / Fund Accountants / Consultants /
Derivatives structurers / Dealers / Arbitrageurs Primer Modules: Participants gets free access to recordings of all 4
Primers on course registration.
● Software professionals
Schedule: Saturdays and Sundays (5 hours per day)
● Graduate students
FEE DETAILS
ELIGIBILITY
Course Fee: INR 188,000 (All inclusive)/ USD 2,600 for
Undergraduate degree in finance / engineering / mathematics /
participants registering from outside India.
statistics / physics / economics / econometrics / chartered
accountancy / computer science / MBA / CFA / FRM / PRM
(Group discounts and Corporate Discounts available)
ADMISSION
** Please note that the prices are subject to change. It is
Candidates may apply online for admission to the course. recommended to check the updated price at www.iiqf.org.
Admission will be based on the candidate’s academic
background, professional experience and personal interview. PLACEMENT ASSISTANCE
Students successfully completing the course will get placement
PROGRAM DELIVERY assistance subject to fulfillment of applicable conditions.
1. Classroom based Instructor-led
CERTIFICATION REQUIREMENTS
2. Live Interactive Instructor-led Lectures online
1. Term end Project
2. Module-wise assignments
3. 70% Attendance
14
 Frequently Asked Questions

What are the prerequisites for this program? Is the program suitable for non-programmers?

● Minimum Graduation in science / Undergraduate degree in ● We use a lot of Python in this course for teaching practical
finance / engineering / mathematics / statistics / physics / implementation of the models. So, participants having prior
economics / econometrics / chartered accountancy / computer programming background definitely have an advantage.
science / MBA / CFA / FRM / PRM.
● For participants who do not have a programming background,
Proficiency in spoken and written English. Basic knowledge of they will need to attend a primer module on basic Python
Statistics. Working knowledge of Excel Programming. For registered participants of the course, when you
join the course, you get access to a Primer module on Python.
Computer and an internet connection. We teach in Windows
based platform. Mac users will need to Install Windows in ● The Python primer module is designed for people who do not have
Parallels Desktop for Mac. any kind of prior programming background and want to learn
programming for developing applications related to finance. The aim
of this module is to teach python in an easy, lucid and structured way
Is the program suitable for people having no so that people coming from even no-technical or non-programming
background in finance? background can learn and use the python language.

● Financial Engineering as a discipline involves very heavy

How is the course delivered?
Mathematical modelling, so people from Quantitative background ● This program is conducted as a comprehensive online course
are more suited to make a career in this field compared to pure offered via online live interactive lecture sessions on weekends. All
finance guys. So, while any prior knowledge is always useful, lectures are recorded also and participants gets access to view the
however the course has been designed in a way that even people lecture recordings as well.
having no knowledge of finance can attend and learn from this
program.
How long has this program been around for?
Further when you join the course you get access to a Primer
● TThe first cohort of this program commenced in 2010
module on Finance which you have to go through.

15
 Frequently Asked Questions

Who should attend? What is covered in the course?

● Optional Primers: Introduction to Investment Finance,
● If you are someone who has strong mathematical bent of mind Introduction to Financial Mathematics, Introduction to Probability &
and wish to make a career which involves high-end analytics,
Statistics, Introduction to Programming (Python).
mathematical modelling and wish to do research oriented,
exciting and intellectually challenging jobs in International Banks ● Probability Theory, Basic Stochastic Processes, Brownian Motion,
and Hedge Funds. Stochastic Calculus, Black-Scholes-Merton Models.
● So, whether you are a fresher trying to break into Quantitative ● Machine Learning for Quantitative Finance, Monte Carlo
Investment Banking or Risk Management or a seasoned Simulation Methods, Numerical Methods for Partial Differential
professional trying to learn the domain in deep to further your Equations both theory and implementation in Python.
career prospects, then this is the perfect program to look at.
● Valuation of Equity Derivatives, Interest Rate Derivatives, Currency
● Also, students from Engineering, Mathematics, Statistics,
Derivatives, Credit Derivatives, Swaps both deep understanding of the
Economics, Physics etc. background who aspires to work in models and learning the practical implementation and modelling in
International Banks, Hedge Funds, Prop Desks etc. in advanced Python.
Quant Trading/Algo Trading roles or in advanced analytical roles
in Quant analytics, Derivative Pricing and Valuation, Model ● Coverage of Financial Risk Management areas, Market Risk,
Validation, Treasury, etc. should do this course. Credit Risk, Operational and Compliance Risk etc. both theory plus
practical modelling.
Who are the faculty?
Will certificate be awarded on completion of the
● The course is taught by highly acclaimed Quant practitioners program? What are the certification criteria?
and academics in Quantitative Finance who have worked with
topmost global investment banks and firms in New York, London, ● The participant becomes eligible to get the certificate on
Singapore, Sydney and more, with academic background from completion of a capstone project that is given at the end of the
some of the world’s top universities like Stanford (USA), Columbia program, participants who attend and follow all the lectures should
(USA), London Business School, IIM, IIT, ISI, etc. be able to complete the project. So, to get the certificate you will also
have to complete and submit the project.

16
 Frequently Asked Questions

Will certificate be awarded on completion of the What is the course calendar?

program? What are the certification criteria ?
● This course is offered 2 times in a year.
● The participant becomes eligible to get the certificate on
completion of a capstone project that is given at the end of the
program, participants who attend and follow all the lectures How long has this program been around for?
should be able to complete the project. So, to get the certificate
you will also have to complete and submit the project. ● The first cohort of this program commenced in 2010.

Who are the faculty? What programming language does this program use?
● The course is taught by highly acclaimed Quant practitioners ● This program is entirely taught using Python.
and academics in Quantitative Finance who have worked with
topmost global investment banks and firms in New York, London,
Singapore, Sydney and more, with academic background from What mode of payments do you accept?
some of the world’s top universities like Stanford (USA), Columbia
(USA), London Business School, IIM, IIT, ISI, etc. ● We accept all online payment modes like Bank Transfer, Credit
Card, Debit Card, UPI
Is there any placement support?
Is EMI facility available?
We have dedicated placement team who provides strong support
to all successful participants for getting relevant jobs in ● Interest Free EMI payment option is available through our NBFC
International Banks, Hedge Funds, Consulting Firms, IT partners.
Companies and other financial institutions.
You may work in Quantitative Research & Analysis, Development
of Quantitative & Analytical Software, Building Valuation Models,
Model Validation, Derivatives Structuring, Quant Trading, High
Frequency Trading, Algorithmic Trading, Derivatives Trading.

17
 About CPFE
Program
WHAT ALUMNI HAS TO SAY?

Indian Institute of Quantitative Finance

 https://www.iiqf.org/testimonials.html
What IIQF Alumni has to say ? View More Reviews
( SCAN THIS )

HARJINDER SINGH HARAPRASAD DASH

● Software Development Engineer, Audible Inc., New ● Associate, Copal Amba (A Moody's Analytics
York Company)
● Previously Technology Analyst, Goldman Sachs, ● Previously Research Analyst, I-Peritus Solutions
New York and Services
● B. Tech. (PTU), AMFE ● M.Sc. (Computational Finance) (IMA)
“I will recommend the 'Certificate Program in Applied “After completing my M.Sc in computational finance, I
Mathematics for Engineers' to those who want to start joined the AMFE program at IIQF. It was really a
their careers in the field of quantitative finance. The practical and industry oriented program. The things I
program teaches you basics as well as advanced learnt during the course helped me getting my first job
concepts of quantitative finance keeping you abreast at I-Peritus. The faculties are leading practitioners
with the latest developments in the field. from the industry, IIQF also provides good placement
It also focuses on the practical implementation of the support. Thanks for the guidance and support given
models using Excel/VBA. The faculty at IIQF is by the IIQF faculty team for their guidance, which has
comprised of both academicians and practitioners who really helped me in improving my interpersonal and
bring their research and experience into the teaching. technical skills that was required for cracking
This program has helped me understand the esoteric interviews. I will recommend this course to all those
field of derivatives and pricing models. After students who want to build a career in
completing my B. Tech. from Punjab Technical Quant/Structured product/Risk Management. In fact I
University, I was working as a Software Engineer in have already recommended this course to my
TCS, that is when I joined the CP-AMFE, it has certainly juniors.”
helped me enhance my career aspirations.” 19
 About
INDIAN INSTITUTE OF QUANTITATIVE FINANCE

Indian Institute of Quantitative Finance

 Indian Institute of Quantitative Finance ( IIQF )

Quantitative
Finance & Financial
Engineering
Education An
& institution In the
Risk Management
dedicated field of

Training to

Quantitative
Algorithmic Trading

Artificial Intelligence
& Machine Learning
Founded by pioneers in India and top experts from the fields of Financial Risk
Management, Financial Engineering and Investment Banking. An educational institution
focusing on promoting education and training in the fields of Financial Engineering,
Quantitative Finance, Risk Management, Investment Banking, Algorithmic Trading,
Derivative Products, Artificial Intelligence & Machine Learning and several other areas of
Modern Finance for more than a decade. 21
 ABOUT US View More on Website
( SCAN THIS )

https://www.iiqf.org/aboutus.html

Indian Institute of Quantitative Finance (IIQF) is IIQF in partnership with HPC Links, a company
established as a center of learning in the field of specializing in High Performance and Parallel
Quantitative Finance and Financial Engineering. Computing technologies, develops Algorithmic Trading,
Founded by leading finance professionals and Derivatives Valuations, Risk Analytics Solutions and
entrepreneurs with extensive global experience and Products using High Performance Computing
expertise in specialized Quantitative Finance and Risk technologies and infrastructure. It provides volatility
Management domains and educational background trading strategy advisory service to derivatives trading
from the best of global institutions. desks of financial institutions.

It is the first institute of its kind in India that It has conducted corporate training programs for banks
exclusively focuses on this extremely specialized like Bank of New York Mellon, CitiBank, Societe
field. IIQF conducts specialized courses and Generale, ING Vysya etc. In partnership with Thomson
corporate training programs on advanced Reuters it conducts the most comprehensive course in
quantitative finance, risk management, financial Financial Engineering in India.
modelling, simulations and econometrics for
corporates and individuals. There are specialized
courses tailored to the specific needs of investment India's First
banking and other finance verticals from last 15
Years. Quant Finance Institute
You can contact us at : [email protected]
Phone no. 022-28797660/ +91 9769860151
22
 IIQF Board of Governors

Dr. Ashwini Nanda, Abhijit Biswas,

Founder and CEO of HPC Links. For over 25 years, he has Founding Director of Indian Institute of Quantitative
been involved in research and development of high Finance. He is also the Founder Director and Head of
performance computer systems and applications in both Product Development at Risk Infotech Solutions, VP and
India and the US. He was the head of TATA CRL, where he Head of Financial Technologies at HPC Links and Founder
led the development of the Eka system, Asia's fastest Director of Quant Qubit.
supercomputer in 2007, and India's fastest till date. At IBM TJ
Watson Research Center, NY, he conceptualized and led
the development of Cell processor based systems, and the
Dr. M.P. Rajan,
world's first Petaflop machine, Roadrunner, at Los Alamos
Ph.D. IIT-Madras, Assistant Professor at School of
National Labs.
Mathematics, Indian Institute of Science Education &
Research. Previously he has been an Associate Professor
Rajan Gadkari, with the Dept. of Mathematics, IIT-Guwahati. He had
who has served as Managing Director for some of the largest worked with Goldman Sachs as Quant Analyst.
Investment Banks and Financial Institutions in New York like
Thomson Reuters, JP Morgan and as Director in Lazard
Capital Markets and Merrill Lynch.

23
 iiqf.org
Industry Clients

IIQF has conducted 600,000+ man hours of training in Financial Engineering, Quantitative Finance,
Investment Banking and Risk Analytics for large MNC and Indian financial institutions like:

NOMURA Thomson Reuters

BNY Mellon

Capgemini KPMG NSE

Societe Generale Ernst & Young LIC

Bank of India Deloitte BSE

Indian Institute of Quantitative Finance

24
 iiqf.org
Academic Institutions
IIQF has conducted training for students of academic institutions like IIT-Bombay, BITS Pilani, NITIE, etc.

IIT-Roorkee
IIT-Madras

NITIE – IIM Mumbai

BITS Pilani IIT-Bombay

Indian Institute of Quantitative Finance

25
 INDUSTRY PARTNERS

Indian Institute of Indian Institute of IIQF Directors were part

Quantitative Finance of the Board of Studies
Quantitative Finance has partnered with of Mumbai University,
has partnered with HPC links, a company engaged to modernize
Thomson Reuters to specializing in high- the curriculum of the
conduct Post performance parallel- Master of Management
Studies program to
Graduate Program computing make it more industry
in Financial technologies, for ready and also to
Engineering Software design Masters Degree
Development, programs in
Research and Quantitative Finance.
Consulting for Financial
markets.

Indian Institute of Quantitative Finance

26
 Our Training Participants

Our open house programs have drawn

participants from organizations like JP
Morgan Chase, NSE, BSE, RBI, State Bank
of India, Bank of Baroda, Nomura,
KPMG, Deloitte, HSBC Bank, Deutsche
Bank, Barclays Bank, Bank Of America,
CITI Group, Merrill Lynch, Ernst & Young,
Morgan Stanley, Motilal Oswal, India
Infoline, Kotak Securities, IIM’s, IIT’s etc.

Indian Institute of Quantitative Finance

27
 Educational
Awards
IIQF was awarded Mr. Abhijit Biswas our
the won by Founder Director was
awarded the
“BEST FINANCIAL RISK
MANAGEMENT IIQF “100 MOST
INSTITUTION OF THE INFLUENTIAL
YEAR” DIRECTORS OF INDIA
(EDUCATION)”
at the Asia Education
Summit and Awards by World Education
2017 Congress in 2016
Indian Institute of Quantitative Finance
28
 iiqf.org

Our Awards
In Photographs

IIQF was awarded the

“National Education
Leadership Award” by
Lokmat in 2014 for
pioneering education in
financial analytics.

Indian Institute of Quantitative Finance

29
 Office Address: iiqf.org
Workafella, AK Estate, Off Veer Savarkar Flyover,
Besides Radisson Blu Hotel, Swami Vivekananda Rd,
Goregaon West, Mumbai, Maharashtra 400062

Office Hours:
All Days : 10:00 AM - 6:30 PM
(Office visit by prior appointment only)

Contacts Direct Contact:

You can contact us in
various way Phone: +91-8976993622
+91-8976993621
Email: [email protected]. https://www.iiqf.org

India's First
Indian Institute of Quantitative Finance
Quant Finance Institute 30