Risk Management and Financial Engineering Specialization
The objective is to train quantitative finance specialists, capable of innovating and proposing new analysis methods.
For this, an important emphasis is put on allowing students to experience actual situations for concrete cases. Thus, the proportion of work done on actual problems represents over a third of all courses.
There is also emphasis put on highly specialized and innovative courses, which will allow students to fine-tune their critical eye and their creativity, essential elements in an ever more competitive financial industry.
This specialization allows students to develop solid job-specific skills in Risk Management and Financial Engineering.
Risk Management in banking has become indispensable over the past 20 or so years. Banks need to rely on statisticians, specialists in Risk Management and advanced statistical methods, capable of developing rubust internal models. The recent financial crisis has confirmed the need to train statistical engineers who are at the forefront of regulations and quantitative methods.
Financial Engineering covers many skills and requires specialists who know their domain of expertise perfectly. The specialization covers two of these areas of expertise: Asset Management and Quantitative Research on trading rooms.
Asset management is seeing important growth which will not stop anytime soon. Building efficient quantitative tools to manage financial savings has become indispensable. Thefore, financial institutions need competent financial engineers in management and earnings performance.
Quantitative research in trading rooms concerns several trades including that of the “quant” statistician. One of their objectives is to fix the price of complex derivative products, called “exotic” products. The “subprime” crisis showed, among other things, poor evaluation of derivative credit products. Quantitative research services need confirmed statisticians who are able to provide prices for innovative products.
Developing these job-specific skills is the fruitful result of a demanding education, both rigourous and captivating.
To further increase its knowledge and expertise, the specialization signed partnerships with several of the most prestigious French financial institutions: Société Générale and Crédit Agricole S.A., BNP Paribas Personal Finance and Autorité du Contrôle Prudentiel and the Banque de France.
These partnerships, in addition to their education, allow students to develop exchanges and network through:
- courses and professional seminaries
- mock job interviews with human resources on Ensai campus
- on-campus hiring days for the end-of-studies internship at ENSAI
Since July 1st, 2010, the professional AMF certification (Autorité des Marchés Financiers, or Financial Markets Authority in France) of financial market players implies obligatory verification of the level of regulatory and technical knowledge of new employees who play a role in the council, sale, control or analysis of financial products.
A partnership with Bärchen, authorized to give out the AMF certification, was signed in order to allow ENSAI students to take the examination with favorable working and pricing conditions: 1 exam, 1 retake session, 4 practice exams and a complete access to the pool of questions during 6 months.
An education through research in Finance is open to bright and motivated students from the Risk Management anf Financial Engineering specialization who wish to complement their statistical engineering courses with a high quality university education in Finance at the Institut de Gestion de Rennes. Students can thus obtain, in parallel with their Engineering degree, a "Finance" Master's degree from Rennes 1 University, specialized in Studies and Research in Finance.
This specialization offers many prospects in the banking world, in particular with our partners, in finance (consulting firms...), and in insurance.