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The Quantitative Finance major enables ENSAE students to acquire such scientific knowledge as they will get top-ranking positions in banks, insurance or large firms, demanding strong methodological training . In banks or in market places, traders have to seize sales and purchase opportunities and thus manage risks concerning their stock portfolio, on behalf of their clients. Their action takes place in different markets: stock, rates, change, commodities, credit derivatives etc. Within their various jobs, traders have to master arbitrage and risk hedging. Quants or research and development engineers use their mathematical, algorithmic, computer and statistical skills to develop financial models. These jobs require strong knowledge in stochastic calculus and valuation of complex derivative products. As they are often linked to developing valuation of financial products software, a good mastering of numerical methods and computer science is needed. Risk managing has notably increased in banks because of new finance rules. Risk managers have to assess to which extent a bank will face three kinds of risks: market risk, credit risk and operational risk. Managers have to deal with regulation constraints and be competent in risk modelling. In banks and insurance companies, assets and liabilities managers measure rate risks and liquid assets statements. They control assets and liabilities accounting, analyse the firm’s involvements and carry out surveys in order to help set up general financial strategies. Portfolio managers work in all sectors of finance, banks, investment firms or insurance companies. They have to manage investors’ or firms’ portfolios, such as mutual funds or pension funds. Portfolio managers also have to find out the right stock combinations to maximise investors’ benefits, regarding a given risk level. |
