CERTIFICATE IN

FINANCE

CQF

Certificate in Quantitative Finance

Global Standard in Financial Engineering

Awarded by Delivered by
Real-world financial Contents
engineering
Finance is an increasingly sophisticated About the CQF.................................................. 3
and competitive sector to work in and
the demand for education in quantitative
Your CQF journey.............................................. 4
finance has never been greater. With a Diverse delegate profile...................................... 6
focus on the practical implementation of
quantitative techniques, the Certificate
CQF alumni community...................................... 7
in Quantitative Finance (CQF) is taught Flexible program delivery.................................... 8
by leading practitioners and is designed
to help you advance in the financial
Program Primers................................................ 9
landscape. Once you qualify, our ever- CQF program content .......................................10
expanding Lifelong Learning library will
support you throughout your career.
Advanced electives...........................................12
Online learning resources..................................13
To date, more than 4000 professionals
worldwide have completed the program Lifelong Learning..............................................15
and the Certificate has gained global
CQF faculty......................................................16
recognition as the benchmark qualification
for anyone in, or aspiring to enter, the Joining the program..........................................19
sphere of quantitative finance. FAQs...............................................................20
CQF Institute....................................................22

Dr. Paul Wilmott

CQF Program founder
About the CQF
A world-class professional qualification in quantitative finance

Founded by Dr. Paul Wilmott, the Certificate in Quantitative Finance program is designed for individuals working
in, or intending to move into, derivatives, IT, quantitative trading, insurance, model validation or risk management.
Delivered online, the program comprises six modules as well as advanced electives and offers two study options
for completing the program, either in six months or two three-month levels.

With a unique focus on real-world financial engineering, the CQF program provides practical analysis of quantitative
techniques used in the industry and is taught by leading experts. Once certified, you will gain access to our free
continuing professional development program to keep you up to date with the latest industry developments.

Awarded by the CQF Institute, the program is delivered by Fitch Learning, a leading global training company with
centers in London, New York, Singapore, Hong Kong, Chicago and Dubai.

WHY TAKE THE CQF PROGRAM?

Become qualified in quantitative finance Access our free Lifelong Learning library
The CQF is a prestigious qualification that provides CQF alumni gain access to our ever-expanding
in-depth analysis of practical quantitative methods Lifelong Learning library with over 800 hours of extra
for financial markets. lectures on the latest quantitative finance topics.

Develop career-enhancing skills

The program is a key career development tool for
professionals from a rich diversity of backgrounds
and responsibilities who want to build their skills in
quantitative finance.
Benefit from expert teaching
The CQF faculty is a highly acclaimed team of
experts combining experienced practitioners
and leading academics specializing in the field of
quantitative finance.
Delegates receive a free one-year subscription to
Wilmott Magazine.
Specialize with our advanced electives
We offer you the opportunity to choose from a range
of electives in specialist areas.
Join our global alumni network
CQF alumni benefit from a strong business
community of more than 4000 quantitative
professionals.
FLEXIBLE DELIVERY
Study part-time and online
The program is offered in January and June.
All lectures are streamed live online and are
recorded and made available on the CQF Portal
within 24 hours.
The CQF App allows delegates to download
lectures for offline viewing.
Choose between two study options
Full Program: complete the six modules and
chosen electives in six months.
Level I & Level II: complete the six modules
and chosen electives in two three-month levels.
Levels can be taken in separate programs.

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Your CQF journey
Supporting you beyond the program

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Find out more about the CQF program
by attending one of our live information
sessions or global online webinars, where
you can:
Meet members of the faculty
Discuss details about the program
Find out more about your career options
Register for an information session at
www.cqf.com
Submit your application online at
www.cqf.com/apply. You will receive a
decision regarding your application within
48 hours.
Should you have any questions
about the application process,
contact us at info@cqf.com or call
+44 (0)845 072 7620.
We offer three optional primers that are
designed to help get you up to speed
ahead of the program.
Mathematics Covers mathematical
preliminaries used within quant finance.
Programming Introduces scientific
computing in Python to enable new users
to begin implementing models.
Finance Introduces key concepts and
asset classes needed for quant finance.

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Study options available to you: We invest in the future of our CQF alumni by offering a free
Full Program complete the program in six months continuing professional development (CPD) program, called
Lifelong Learning. It is designed to support you throughout the
Level I & Level II complete the program in two three-
whole of your career. Lifelong Learning consists of:
month levels
Lectures A library of over 800 hours of lectures on every
Each module covers a different aspect of quantitative finance
conceivable finance subject with regular new additions on the
and consists of lectures and discussions. At the end of
latest topics and techniques being used in industry.
modules two to five, delegates take a written exam. At the
end of module six delegates complete a practical project, Master classes Over 100 hours of additional material to help
developing implementation skills, supported by their choice you delve deeper into subjects.
of advanced electives.
Certificate in Mathematical Methods (CM2) An intensive
Module One Building Blocks of Quantitative Finance course of 51 recorded lectures (equivalent to more than the first
two years of a university mathematics degree).
Module Two Quantitative Risk and Return
Module Three Equities and Currencies C++ Over 70 hours of tuition across 28 recorded sessions
covering the theory of design and translating pricing models
Module Four Fixed Income
into working C++ code.
Module Five Credit Products and Risk
JAVA Introductory Java course especially designed for quants.
Module Six Big Data and Machine Learning
Advanced Electives Choose two from a range of electives
Final Exam for Distinction (Optional) The final three-
hour examination takes place in exam centers worldwide.
Delegates who score 80% or above receive a distinction grade.

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Diverse delegate profile
Background and occupation

CQF delegates come from a rich diversity of different backgrounds and responsibilities, bringing a wealth of
experience to the program.

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Occupation Background
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CROSS SECTION OF DELEGATE EMPLOYERS

EDF Trading Mitsubishi UFJ Securities International

ABN AMRO
Ernst & Young Moodys
Abu Dhabi Investment Authority
Morgan Stanley
Accenture
Fidelity International
Fitch Ratings Nationwide Building Society
Banamex Nationwide Financial
Bank for International Settlements GE Capital Solutions Nomura
Bank of America Merrill Lynch Goldman Sachs
Barclays Gordian Knot Och-Ziff Capital Management
BNP Paribas
BP Gas Trading HBOS PAAMCO
British Energy HSBC
Royal Bank of Scotland
Calyon IBM RWE
Chicago Trading Company ING
Citadel Intesa San Paolo Schroders
Citco
Citi Group J.P. Morgan
Thomson Reuters
Commerzbank Towers Watson
Crdit Agricole KPMG
Trafigura
Credit Suisse
Lloyds Bank
UBS
Deloitte UniCredit Bank
Derivative Trading Systems Ltd Man Financial
Deutsche Bank Marshall Wace Watson Wyatt
Duff & Phelps Mellon Capital Management Wells Fargo

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CQF alumni community
An influential network of quant professionals

The CQF alumni network is an exclusive global community, which consists of over 4000 quantitative finance
professionals in more than 90 countries.

Countries with alumni

Amit Marwaha
Previous qualifications: MBA Finance, The University of Texas at Austin
Current position: Equity Research Analyst, Fidelity Investments
The CQF was a good way of improving my math while working at the same time. The CQF has definitely had an
impact on my job. It has given me the information, tools and the knowledge necessary to speak to clients and
price assets in an effective manner.

Anuj Gupta
Previous qualifications: MPhil in Advanced Chemical Engineering, University of Cambridge
Current position: Global Head, Equity & Commodity Valuation Methodologies, UBS Investment Bank
The CQF not only teaches you the mathematics underpinning the different financial models, it also highlights
their main assumptions and potentials dangers. It has certainly helped me enhance my career aspirations while
keeping abreast with cutting-edge modeling developments.

Elias-John Kies
Previous qualifications: HBBA, Business, Wilfrid Laurier University
Current position: Director of Analytics, EDGAR Online Inc.
I had a firm grasp on market fundamentals yet yearned for a deeper technical perspective to analyze the
increasingly complex capital markets. The CQF filled this gap perfectly. The value of the CQF increases every day
as extra lectures are continually added. I highly recommend the CQF to any serious investment professional.

7 www.cqf.com/cqf-alumni
Flexible program delivery
Two study options

The CQF program comprises six modules and advanced electives, which will need to be completed to obtain the
CQF qualification. You can start the program in either January or June. Dedicated to delivering flexible learning, the
CQF offers two study options so you can decide how to complete the program.

Option 1 Full Program

The program can be taken in full by completing the six modules and chosen electives in six months. This option provides you with
immediate access to all of the materials you will need throughout the program, and to Lifelong Learning.

Option 2 Level I & Level II

The program can also be completed in two three-month levels, which can be taken in separate programs. Level I consists of the Primers
and modules one to three. Level II consists of modules four to six, advanced electives and Lifelong Learning.

PROGRAM CQF LIFELONG

PREPARATION QUALIFICATION LEARNING

LEVEL I
OPTIONAL
PRIMERS: CONTINUING
FULL PROFESSIONAL
MATHEMATICS + OR
PROGRAM DEVELOPMENT
PROGRAMMING (included)
FINANCE
LEVEL II

Level I
Level I will give you an understanding of the essential tools needed in the industry. Access to the program preparation and the CQF App
are just some of the benefits you will receive. Upon completing this level, you will have an excellent knowledge of the mathematical tools
and concepts used in quant finance, covering areas of quantitative asset management and risk management, progressing onto pricing of
equities and currency derivatives.

Level II
Building on the key skills and knowledge of Level I, Level II will deepen your understanding and further your practical skills, leading you
to completion of the CQF. Level II provides the opportunity to complete an applied project as well as access to expansive knowledge and
topical information with Lifelong Learning. Through completion of Level II, your knowledge will cover fixed-income products and interest
rate modeling, the latest techniques used in credit modeling and big data and machine learning. You will also have the opportunity to
specialize by choosing advanced electives relevant to your current or future workplace.

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Program Primers
Getting prepared

The CQF program begins with three optional primers in Mathematics, Programming and
Finance. These primers each include 12 hours of intensive training, should you need it. They
have been designed to give you all the preliminaries you need to know and to bring you up to
speed ahead of the program.

PRIMERS INCLUDE THE FOLLOWING:

Mathematics Primer
Covers mathematical preliminaries needed before Visual Basic for Applications
commencing the CQF program.
The Mathematics Primer is multi-faceted and
Calculus includes Visual Basic for Applications, starting
Differential Equations with the basics and working up to the more
Linear Algebra complex features of VBA using Windows Excel.
Probability
Statistics

Programming Primer
Presents the Python language in a scientific
framework to enable users to begin writing
numerical code.
Python Syntax
Standard Mathematical Functions
SciPy and NumPy Libraries
Good Programming Practices
Documenting Code, Debugging

Finance Primer
Introduces key concepts and different asset classes
needed for the CQF program.
Macro Economics
Capital Markets Fundamentals
Introduction to Money Markets
Time Value of Money
Introduction to Financial Assets

For more information, visit www.cqf.com/program

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CQF program content
Outlining the modules
The core program is made up of six modules and advanced electives. Modules two to five are examined at the end of each respective
module. At the end of module six all delegates have to complete a practical project and apply their theoretical knowledge to
real-world problems.

MODULE ONE

Building Blocks of Quantitative Finance

This module introduces the rules of applied It calculus
as a modeling framework. We build tools in both
stochastic calculus and martingale theory and look
at simple stochastic differential equations and their
associated Fokker-Planck and Kolmogorov equations.
Random Behavior of Assets
Important Mathematical Tools and Results
Taylor Series
LEVEL I

Central Limit Theorem

Partial Differential Equations
Transition Density Functions
Fokker-Planck and Kolmogorov
Stochastic Calculus and Its Lemma
Manipulating Stochastic Differential Equations
Discrete Martingales
Continuous Martingales
The Binomial Model for Asset Prices
FULL PROGRAM

MODULE FOUR

Fixed Income
This module reviews the plethora of interest rate
models used within the industry. We discuss the
implementation and limitations of these models and the
need for a more sophisticated framework in order to
understand these processes. Many of the ideas seen in
the equity-derivatives world are encountered again here
but in a more complex form.
Fixed-Income Products and Market Practices
LEVEL II

Yield, Duration and Convexity

OIS Discounting
Stochastic Spot-Rate Models
Affine Stochastic Models
Probabilistic Methods for Interest Rates
Change of Numraire
Heath, Jarrow and Morton
Calibration
Data Analysis
Libor Market Model
SABR Model
Monte Carlo Methods, Brownian Bridge, Advances Schemes
Quasi-Monte Carlo Methods, Sobol and more
Energy Derivatives: Speculation and Risk Management

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MODULE TWO MODULE THREE

Quantitative Risk and Return Equities and Currencies

This module deals with the classical portfolio theory of The Black-Scholes theory, built on the principles of delta
Markowitz, the capital asset pricing model and more recent hedging and no arbitrage, has been very successful and fruitful
developments of these theories. We investigate risk and as a theoretical model and in practice. This module explains the
return, looking at risk management metrics such as VaR. theory and results using different kinds of mathematics to make
Modern Portfolio Theory
the delegate familiar with techniques in current use.
Capital Asset Pricing Model The Black-Scholes Model
Sharpe Ratio and Market Price of Risk Hedging and the Greeks
Arbitrage Pricing Theory Option Strategies
Portfolio Optimization for Portfolio Selection Early Exercise and American Options
The Black-Litterman Model Finite-Difference Methods
Risk Regulation and Basel III Monte Carlo Simulations
Value at Risk and Expected Shortfall Exotic Options
Collateral and Margins Volatility Arbitrage Strategies
Liquidity Asset Liability Management Martingale Theory for Pricing
Girsanovs Theorem
Advanced Greeks
Derivatives Market Practice
Advanced Volatility Modeling in Complete Markets
Non-Probabilistic Volatility Models
Market-Based Valuation of Equity Index Options Using Python

MODULE FIVE MODULE SIX

Credit Products and Risk Big Data and Machine Learning

Credit risk plays an important role in current financial Big data and machine learning are emerging as new and
markets. This module looks at the major products and important areas in the industry. We look at the latest
examines the most important models. The modeling and most important ideas and techniques used within
approaches include the structural and the reduced form as quantitative finance.
well as copulas. Big Data in Finance
Structural Models Classification and Clustering
Reduced-Form Model and the Hazard Rate Dimension Reduction and PCA
Credit Risk and Credit Derivatives Filtering and Trading Signals
X-Valuation Adjustment (CVA, DVA, FVA, MVA) Machine Learning
CDS Pricing, Market Approach Predictive Analytics (Regression Family)
Synthetic CDO Pricing Partial Least Squares
Risk of Default, Structural and Reduced Form Alternating Least Squares
Implementation of Copula Models Bayesian Models and Inference
Statistical Methods for Estimating Default Probability Markov Networks
Correlation Sensitivity and State Dependence Cointegration and Long-Term Relationships
Volatility Filtering (GARCH Family)
High Frequency Data

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 Advanced electives
Specialize in your field
The CQF program offers you the opportunity to specialize further by choosing from our range of advanced electives,
allowing you to develop your skills with your career objectives in mind. These electives are subject to change, please
check the website for the latest syllabus.
Algorithmic Trading
The use of algorithms has become
an important element of modern-day
financial markets. This elective explores
techniques used in the field.
What is Algorithmic Trading
Preparing Data; Backtesting, Analyzing
Results and Optimization
Build Your Own Algorithm
Alternative Approaches: Pairs Trading;
Options; New Analytics
A Career in Algorithmic Trading
Advanced Risk Management
This elective looks at techniques used
to manage risk and how they satisfy the
regulatory landscape.
Risk Management: Overview
The Basel Accords: Basel I, II and III
Value at Risk to Expected Shortfall
Minimum Capital Requirements 2016
Sensitivities and AAD
Liquidity Horizons (LH)
Aggregation of Risk and Correlation
Extreme Value Theory
Counterparty Credit Risk Accord
The Dynamic Nature of Liquidity
Behavioral Finance for Quants
Behavioral finance and how human
psychology affects our perception of
the world, impacts quantitative models
and drives financial decisions. This
elective enables delegates to identify
key psychological pitfalls, use their math
skills to address these pitfalls and build
better financial models.
System 1 vs System 2
Behavioral Biases; Heuristic Processes;
Framing Effects and Group Processes
Loss Aversion vs Risk Aversion; Loss
Aversion; SP/A Theory
Linearity and Nonlinearity
Game Theory
www.cqf.com/program
Advanced Volatility Modeling
 olatility and being able to model
V One key skill for anybody within
volatility is a fundamental element to
any quantitative model. This elective
looks into the common techniques used
to model volatility, providing problem-
solving methods for stochastic volatility.
Fourier Transforms
Functions of a Complex Variable
Stochastic Volatility
Jump Diffusion
Counterparty Credit Risk Modeling
Counterparty credit risk and other
related risks have become more
pronounced and need to be taken into
account during pricing and modeling
stages. This elective goes through risks
associated with the counterparty and
how they are included in modeling.
Credit Risk to Credit Derivatives
CVA, DVA, FVA
Interest Rates for Counterparty Risk
Dynamic Models and Modeling
Interest Rate Swap CVA and
Implementation of Dynamic Model
Advanced Portfolio Management
Many buy-side firms are using quant
techniques to improve their returns
and better manage client capital. This
elective explores techniques used to
achieve these.
Perform a Dynamic Portfolio
Optimisation, Using Stochastic Control
Combine Views with Market Data
Using Filtering to Determine the
Necessary Parameters
Understand the Importance of
Behavioral Biases and Be Able to
Address Them
Understand the Implementation Issues
Develop New Insights into Portfolio
Risk Management
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Advanced Computational Methods
quantitative finance is how to use
technology to solve complex math
problems. This elective looks into
advanced numerical techniques
for solving and implementing math
efficiently.
Finite Difference Methods and
Application to BVP
Root Finding
Interpolation
Numerical Integration
Data Analytics with Python
Data analysis has become a key tool
in any quants toolbox. This elective
looks at how to use Python and Python
libraries to analyze financial data and
organize it in ways that allow you to use
the data to make meaningful decisions.
Python Idioms and Data Structures
Using NumPy for Numerical Analysis
Using Pandas for Financial Time
Series Analysis
Financial Data Visualization for Static
and Streaming Data
Python Applications
Python has become an important
modeling tool and programming
language. This elective extends the
material discussed in the primer, which
introduced the Python environment
using enthought canopy and much of
the basic syntax and structures.
Numerical Analysis Fundamental
and Important Techniques Applied
to Finance
File Manipulation and Working
with Data
Functions Further Development of
User-Defined Functions as well as the
Powerful Libraries for Probability and
Statistics
Online learning resources
Study in your own time

The CQF is at the forefront of interactive online learning and is continually developing new methods and tools as our
global audience expands. Our comprehensive online learning portal gives permanent access to all of the recorded
lectures and program materials. We also offer a CQF App, which enables you to access learning materials on iOS
and Android devices.

CQF Portal
All classes are recorded and then uploaded onto
the CQF Portal. Every delegate is provided with
their own online account, allowing them to access
the following:
Live core lectures
Recorded core lectures
Annotated class notes
Stimulating exercises
Sample code and spreadsheets
Recorded additional/non-examined classes
Lifelong Learning library (for Full Program and
Level II delegates)
Upload tool for modular exams
Dedicated CQF forum
Live one-to-one interactive lecturer support
Whiteboard facility

Comprehensive learning portal

CQF App
The CQF App demonstrates our dedication to
deliver innovative solutions for online learning. The
App can be downloaded onto any iOS or Android
device and gives access to the Mathematics Primer
lectures, the VBA lectures and core lectures as the
program progresses.

Download lectures for offline viewing:

Mathematics, Programming and Finance
Primer lectures
VBA lectures
Core lectures

Interactive CQF App

The CQF Portal and App are revolutionary tools allowing delegates to access their CQF lecture materials
whenever is convenient for them. This flexibility allows the program to be completed on a part-time basis
around a busy work schedule and while on the go.
Dr. Randeep Gug, CQF Program Director

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CQF ALUMNI PROFILE
Name: Lilan Li
Previous qualifications: Master of Engineering, Information Systems & Management, Institut National des Sciences
Appliques de Lyon
Current position: Credit Valuation Model & Methodologies, UBS Investment Bank

Lifelong Learning is very important to me and the CQF is outstanding compared to

alternatives. I will continue learning from the masterclasses and extra lectures because
for me learning is key and I enjoy doing it all the time.

14

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Lifelong Learning
Continuing professional development throughout your career

Our free Lifelong Learning program for alumni contains a library of over 800 hours of lectures
on every conceivable finance subject. Delivered by some of the most eminent practitioners
and academics, the content is ever expanding, with additional lectures continually taking
place. You will gain permanent access to CQF lectures and the entire Lifelong Learning
library, allowing you to further your professional development at no additional cost.

LECTURES
Largest component of Lifelong Learning
Library of over 800 hours of lectures on every
conceivable finance subject
Ever-expanding and up-to-date content
Delivered by some of the most
eminent practitioners and academics,
including Dr. Paul Wilmott, Dr. Peter
Jckel, Dr. Espen Gaarder Haug, Dr.
Alonso Pea and Dr. Sbastien Lleo

MASTER CLASSES CERTIFICATE IN

Delve deeper into specific subjects
Over 100 hours of recorded material
Delivered by experts such as Dr. Paul Wilmott,
Dr. Claudio Albanese, Dr. Wim Schoutens
MATHEMATICAL METHODS
Intensive program with 51 lectures
Covers a variety of mathematical methods
applicable to real-world problems
Equivalent to more than the first two years of a
university mathematics degree course

JAVA
Introductory Java course with seven interactive
lectures especially designed for quants
Covers everything you need to know about
the basic framework of how Java works
C++
Over 70 hours of tuition across 28 recorded
sessions
Critical to a role as a modern quant in a top-tier
investment bank
Covers the theory of design and translating
pricing models into working C++ code

15 www.cqf.com/lifelong
CQF faculty
World-renowned practitioners and academics
Dr. Paul Wilmott
Paul is internationally renowned as a leading
expert on quantitative finance and founder of the
CQF. His research work is extensive, with more
than 100 articles in leading mathematical and
finance journals, as well as several internationally
acclaimed books on mathematical modeling
and derivatives, including Paul Wilmott on
Quantitative Finance. He has extensive consulting
experience with leading US and European financial
institutions, and founded a volatility arbitrage
hedge fund and a university degree course.
Dr. Riaz Ahmad
Riaz is the Head of CQF Faculty and teaches
mathematical finance, C++ programming and
mathematical methods-based courses. Riaz is an
applied mathematician with teaching and research
interests in the mathematical and computational
aspects of financial derivatives in particular,
stochastic volatility and jump diffusion models,
exotic options and interest rate modeling. Riaz
has lectured in mathematical finance at University
College London and Oxford University.
Dr. Espen Gaarder Haug
Espen has worked in derivatives trading and
research for more than 20 years. He worked as a
proprietary option trader at J.P. Morgan in New
York, and as an option trader for two multibillion
dollar hedge funds, Amaranth and Paloma
Partners. He also worked as an option market
maker for Chase Manhattan Bank (now JPMorgan
Chase). He has been involved in almost every
option market, including equity, currency, fixed
income, energy and commodities. He has a
PhD from the Norwegian University of Science
and Technology.
Dr. Randeep Gug
Randeep is the Managing Director, Public Courses
and CQF at Fitch Learning and the CQF Program
Director. He spent five years working in the
Equities division at Salomon Smith Barney and
later traded futures and options on the Indian
National Stock Exchange (NSE). A qualified
teacher, he has a first-class honors degree and a
PhD for research in semiconductor physics.
16
Dr. Sbastien Lleo
Sbastien is a lecturer on the CQF program,
Associate Professor of Finance and Director of
Doctoral Program at NEOMA Business School in
France, and a Visiting Lecturer at the Frankfurt
School of Finance and Management in Germany.
Previously, he held a research position at Imperial
College London in the UK. Before that, he
worked for seven years in the investment industry
in Canada and held consulting positions. He
holds a PhD in Mathematics from Imperial
College London.
Dr. Patrick Hagan
Patrick received his BS and PhD in Applied
Mathematics from Caltech. He has worked at
Bloomberg and several banks designing trading
systems for fixed income, credit, and foreign
exchange derivatives, as well as developing the
component models, calibration methods, and
numerical algorithm. He has also worked at Exxon
Science Laboratories, and has taught at Caltech,
Stanford, the Institute for Mathematics and its
Applications, and NYU.
Dr. Richard Vladimir Diamond
Richard advises family offices on private equity,
asset allocation, investment performance
and effectiveness of hedges. He designs and
executes trades his specialities are volatility
regimes modeling and VIX futures arbitrage.
Richard earned his doctorate from the University
of Southampton (UK), studying complexity
and project risk of IT operations in banking.
Since 2005, he has been teaching in operations
management, statistics and financial mathematics,
recently at Cass Business School and Regents
University London.
Dr. Iris Mack
Iris earned a Harvard doctorate in Applied
Mathematics and a London Business School MBA.
She is also a former derivatives quant/trader who
has worked in financial institutions in the US,
London, Asia and the Caribbean. Iris serves on a
National Academy of Sciences Research Advisory
Board and on the Advisory Boards of the Women
Mentor Women Foundation.
Dr. Peter Jckel
Peter is the founder and Managing Director of
OTC Analytics. He received his DPhil in Physics
from Oxford University in 1995. Peter migrated
into quantitative analysis and financial modeling
in 1997 when he joined Nikko Securities. in 1998,
he changed to NatWest, which later became
part of the Royal Bank of Scotland group. From
2004 to 2008, he was with ABN AMRO as Global
Head of Credit, Hybrid, Inflation, and Commodity
Derivative Analytics. Peter is the author of the
book Monte Carlo Methods in Finance (2002).
Dr. Alonso Pea
Alonso is SDA Professor at the SDA Bocconi School
of Management. He has worked as a Quantitative
Analyst in the Structured Products group for
Thomson Reuters Risk and for Unicredit Group
in London and Milan. He holds a PhD from the
University of Cambridge on finite element analysis.
He has lectured and supervised students from the
universities of Oxford, Cambridge, Bergamo, Pavia,
Castellanza and the Politecnico di Milano. His area
of expertise is the pricing of financial derivatives.
Dr. Yves Hilpisch
Yves is the founder and Managing Partner of The
Python Quants, an analytics software provider
and financial engineering group. He is the author
of Python for Finance (OReilly, 2014) and
Derivatives Analytics with Python (Wiley, 2015).
Yves also lectures on computational finance and
organizes meet-ups and conferences about Python
for quant finance in New York and London.
17
Professor Stephen Taylor
Stephen has held a Chair in Finance at Lancaster
University Management School since 1993.
His degrees are in Mathematics and Operational
Research. He teaches financial econometrics
at Lancaster and in recent years has been a
Visiting Lecturer at universities in Norway, China,
Australia and New Zealand. His seminal work
on stochastic volatility and GARCH models is
incorporated in the highly cited book Modelling
Financial Time Series (Wiley 1986 & World
Scientific 2008).
Dr. Si-Yi Zhou
Si-Yi is an Associate Lecturer for the CQF. He
teaches applied quantitative finance in volatility
arbitrage, stochastic interest rate models and
credit derivative pricing and risk management.
Before joining Fitch Learning, Si-Yi worked as a
Senior Risk Analyst in a City of London-based
consulting firm, providing constructive solutions
to leading banks and insurance companies. He has
worked on many projects in counterparty credit
risk and market risk management.
Dr. Jon Gregory
Jon is an independent expert in counterparty
credit risk and XVA related projects, and Senior
Advisor at Solum Financial Ltd. He has worked
on many aspects of credit risk in his career, being
previously with Barclays Capital, BNP Paribas
and Citigroup. Amongst others, he is author of
the book Counterparty Credit Risk: The New
Challenge for Global Financial Markets.
www.cqf.com/lecturers
CQF ALUMNI PROFILE
Name: Stewart Button
Previous qualifications: Bachelor of Engineering with First-class Honors, University of Tasmania
Current position: Senior Quantitative Analyst/Developer Algorithmic Trading and Risk Management,
Onyx Financial
The CQF has helped me look inside the world of financial markets, derivatives and
risk management systems to gain an insight which would not be possible through
practice alone. The program has given me the tools to price financial instruments and
systematically manage market and credit risk with confidence.

18
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Joining the program
Whats included and how to apply

Whats covered in the fees?

The CQF fees include:
Mathematics, Programming, and Finance Primers
Core lectures, support, problem classes and workshops
Wilmott Scholarship
All hard copy textbooks and other learning materials
Permanent access to the CQF Portal For those who are unemployed or full-time students, the Wilmott
CQF App (download lectures for offline viewing) Scholarship covers a portion of the tuition fees.
Lifelong Learning library (including C++ programming)
Access to the global Alumni network
One years CQF Institute premium membership

Application steps
The application process comprises three simple stages. Should you have any questions about the application process, email info@cqf.com
or call +44 (0)845 072 7620.

1
APPLY ONLINE
Complete the online application form
www.cqf.com/apply

2
RECEIVE APPROVAL
Within 48 hours we will come back to you
indicating your preliminary acceptance
onto the program.

3
ENROLL AND PREPARE
We will ask you to submit a short
enrollment form, accepting your place
onto the program. After an initial
payment you can access the primers
and get started.

19 www.cqf.com/apply
FAQs
Questions and answers

Should I attend the program? When does the program start?

The Certificate will be of special interest to those working in: The program is delivered twice a year, commencing in
Derivatives January and in June.
Risk Management
Structuring
Trading
Can I get help with funding?
Fund Management We offer scholarships to enable eligible delegates to take
IT Investment the Certificate in Quantitative Finance program. Our Wilmott
Banking scholarship is available to those who are unemployed or full-
time students and will cover a portion of the fees. Contact
Hedge Funds
your local Learning Manager to find out more.
Financial Software
Consulting
Universities What level of mathematics is required?
Regulation
Delegates should have a numerate academic qualification
Insurance and should have familiarity with spreadsheet and
computational problem-solving. Delegates who feel their
How long is the program? mathematics is a little rusty are encouraged to complete
our pre-program Mathematics Primer (see page 9) prior to
The examined core part of the program is six months long.
commencing the CQF.
Dedicated to delivering flexible learning, the CQF offers two
study options so delegates can decide how to complete the
program and gain the CQF designation. How long will it take to receive a decision
Full Program on my application?
The program can be taken in full by completing the six The CQF Admissions team will come back to you within 48
modules and electives over six months, providing delegates hours indicating whether you have been granted preliminary
with immediate access to all of the materials they will need acceptance onto the program.
throughout the program and access to our Lifelong Learning
lectures.
When do I need to submit the Mathematics
or
Aptitude Indicator?
Level I & Level II
We advise all delegates to complete the application
The alternative option involves taking the CQF in two levels
form first. They should then start working through the
of three months per level. Level I consists of the Primers and
Mathematics Aptitude Indicator, and complete and return
modules one to three. Level II consists of modules four to six,
it by email before the start of the program. Delegates are
advanced electives and Lifelong Learning.
welcome to delay handing in the test until after they have
completed the Mathematics Primer.
What happens if I fail an exam?
If a delegate is struggling with a module they are encouraged What equipment do I need to view
to contact us as soon as possible so that a member of the
the webcast?
CQF faculty can give them extra help and support. If a
delegate fails one of the modules the CQF faculty will meet To view the webcast live or recorded, delegates will need a
and review their position. On the basis of this meeting computer with a sound card and a speaker. Delegates will
they will then recommend the delegate either retakes the also need broadband internet access.
examination or defers to the next program using this extra
time to revise the relevant topics. There is no cost to defer
the CQF program.
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Can I sample a lecture?
Absolutely, go to www.cqf.com/sample-lecture and
submit your details to get direct access to free sample
lecture videos.
Do I need to complete the three primers
prior to the program?
We offer Mathematics, Programming and Finance primers
designed to give you all the preliminaries and bring you up to
speed in these areas, should you need it. These primers are
optional and offered to CQF delegates at no extra cost.
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How long will I have access to the
recorded lectures for?
Delegates have permanent access to the recorded lectures.
What if it takes me longer to complete
the program?
If you cannot complete the program within the allocated
study time, we offer the flexibility to defer completion of the
CQF to the next program (there is no charge for doing this
and you must complete the CQF within six programs).
 CQF Institute
Educating the quantitative finance community

Promoting the highest standard in practical financial engineering, the Institute provides a platform for educating
and building the quantitative finance community around the globe. Part of Fitch Learning, the CQF Institute is the
awarding body for the Certificate in Quantitative Finance.

Since 2003, the CQF community has become the fastest-growing global network of professionals working in the
quant finance industry. The Institute organizes key industry events, including workshops and conferences, and is
an online resource for keeping its members up to date on the latest quant finance industry practices.

Quant Insights Conference 2016

Societies
The CQF Institute has a growing number of active societies across the world available to its members. Societies offer an
opportunity to be part of a local community of quantitative finance professionals. With regular meet-ups and exclusive events
being held, societies provide a great chance to network and share ideas with like-minded people.

Europe Americas APAC Middle East & Africa

Amsterdam Boston Hong Kong UAE

Frankfurt Chicago Mumbai Johannesburg

London Houston Shanghai

Moscow New York Singapore

Paris Sao Paulo Sydney

Zurich Toronto

www.cqfinstitute.org 22
The program was helpful because I was able to apply the theoretical
knowledge I had before to the practical problems you encounter in real
life. It gives you a broad spectrum of knowledge and you can apply
whatever is necessary to your current role.
Certificate in Quantitative Finance

UK Jilly Chavda E: jilly.chavda@fitchlearning.com T: +44 (0)20 7496 8679

EMEA Geoff Brown E: geoff.brown@fitchlearning.com T: +44 (0)20 7496 8636
AMERICAS James Slattery E: james.slattery@fitchlearning.com T: +1 646 943 6208
APAC Ben OMalley E: ben.omalley@fitchlearning.com T: +65 6572 9792

www.cqf.com

www.cqf.com/linkedin www.cqf.com/twitter

www.cqf.com/facebook www.cqf.com/youtube

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