Msc Finance and Management

7/27/2019 Msc Finance and Management

1/16

MSc in Financeand Management

Master your

career


2/16

The programme fulfilled my expectations of a very interesting

and challenging year. The knowledge I gained allowed me to fit

very quickly into the work environment of an investment bank

and successfully tackle the assignments that I was given.

My employer was aware of the programme, and my colleagues

were impressed with the wide selection of classes and topicscovered over the 11 months. As my career progresses I realise

and appreciate the benefits of the programme more and more.

Branimir IossifovAssociate Consultant, Kaiser Associates, London

The information in this brochure was correct at the time of going to press. However, as part of the ongoing development of the MSc in Finance

and Management, students, leading academics and practitioners continually review the programme and its content. Please check our website for

the latest information.


3/16

Professor Sunil PoshakwaleProgramme Director

Move ahead in financeand managementWelcome to the Cranfield MSc in Finance and Management. This specialist masters programme

will help you develop your career as a successful finance professional. Whether you are a graduate

looking to boost your credentials before seeking employment, or are an experienced professional

looking to move ahead in finance we will give you the means to achieve your goals and realise

your potential.

This course has been designed to meet the

needs of our industry partners, by providing

the calibre of graduates that they are actively

seeking. We combine strategic and analytical

finance with a solid grounding in management

principles always ensuring that you are able

to apply that knowledge to a real work

situation.

Our faculty are experts in their field who

combine first-class academic expertise with

genuine business experience, offering you an

exceptional standard of applied teaching. We

also have a number of high profile visiting

speakers from leading financial services

organisations who support the unique

business focus of the programme.

The standards we set for the programme are

extremely high. Our External Advisory Panel

a forum of leading figures from top financial

organisations ensures that teaching levels

and course content are of the required

nature and standard for modern business.

The programme has been developed to

include much of the syllabus of the Chartered

Financial Analyst, offering you the chance to

gain an additional professional qualification

while you are here.

Our dedicated Career Development Service

ensures that you have the best chance of

securing the right position when you leave.

It gives you access to a wealth of information

and training facilities as well as

organising networking events and

careers fairs for you to meet

our high profile alumni and

corporate partners.

You also benefit from studying with students

from a rich diversity of cultures and

organisations a great opportunity to work

with and learn from the experiences of other

people. In addition, on graduation, you can join

our network of over 14,000 alumni who occupy

high profile positions in companies worldwide.

We offer you full support throughout your

time here and we strive to make sure

you relish the challenge of

gaining your new

qualification. Ultimately,

we want you to leave

here feeling your

time at Cranfield

was a life-changing

experience.


4/16

"The programme provides a well-rounded qualificationthrough a unique combination of core finance withsofter management skills. The engagement of cityprofessionals, by way of the external advisory panel

and as visiting lecturers, combined with appliedresearch-led faculty, provides the balance betweenacademic rigour and relevance to the market place."

Dr Vineet AgarwalSenior Lecturer Finance


5/16

Leading-edge faculty

Our faculty have extensive experience of

working in major multi-national companies.

Alongside teaching, they continue to work

closely with industry, government agencies and

other high-profile organisations to ensure that

learning is underpinned by real-world issues,

latest thinking and best practice . Professor

Sunil Poshakwale, the Programme Director, is

a leading expert in emerging markets.

All programme faculty are influential thinkers

across the globe, having written a number of

financial articles and publications and regularly

contributing to topical debates, conferences

and professional journals.

Our full-time faculty is augmented by an

international team of visiting professors and

speakers, including:

Edmond Warner, former CEO of IFX

Group plc, and first chairman of UK

Athletics Ian Drew, former Head of Global Credit

Risk, UBS Warburg

Mark Tapley, visiting Fellow and former

Group Chief Investment Officer at WestLB

Asset Management, responsible for the

investment management of approximately

$30 billion

Paul Richards, Fellow of the UK Society

of Investment Professionals

The Centre for Research in

Economics and Finance (CENREF)

CENREF was established through a merger

in 2007 of the Centre for Competition and

Regulation Research and the Centre for

Financial Research with the aim of fostering

more cross-disciplinary research into

complementary fields in economics and finance.

The centre acts as a nucleus for pioneering

research frequently cited in Government

reports and helps Cranfield push the

boundaries of current financial thinking.

Members of the Centre act as consultants to

international bodies such as the World Bank,

the European Commission and the OECD, as

well as the British Government. Members have

also carried out research for leading financial

institutions and accounting firms. Some current

and ongoing research areas include:

investment and financing issues inemerging markets

international portfolio investments

foreign direct investments, sovereign

wealth funds, and political risk

foreign exchange markets

market and bank efficiency studies

hedge funds

private equity

asset pricing

mergers and acquisitions

behavioural finance

corporate governance

executive compensation

External Advisory Panel

To ensure that the programme maintains

the very highest standards of teaching, and

continues to deliver the high calibre of

graduates that businesses are actively seeking,

we have formed our External Advisory Panel

(EAP). We use our close links with industry

to assemble leading figures from the world

of finance; to meet, discuss and advise on

current business issues, identify new or

emerging markets and, consequently, what

areas we should be adding to the programme

to reinforce its relevance to the modern

financial world.

The EAP assesses the current teaching

and monitors student progress and career

development in order to maintain the high

quality of learning.

Senior practitioners from top organisations

such as Bank of New York Mellon, DoughtyHanson & Co., Citigroup, UBS, JP Morgan,

Vodafone, AXA Investments and Goldman

Sachs have sat on the panel. We also invite

some current students from the course to

meet with the panel to add their views and

benefit from the exposure to such a high

profile group of influential thinkers.

The programme is taught by our team of leading experts, who have extensive industry

knowledge and business experience. Senior financial practitioners from top international

firms advise us on the unique content of the course which combines leading-edge financial

knowledge with sound management practice.

www.cranfieldmsc.biz/fm


6/16

Developing you andyour career

We strive to ensure you leave here

empowered with personal and professional

skills that you can use for life; to make the

most of the oppor tunities available to you and

to be more proactive in your decision making.

Our Career Development Service will provide

support from day one to help you to

recognise opportunities and give you the best

possible chance of gaining the position thats

right for you. Consequently, Cranfield

graduates are known for enjoying

exceptionally high job satisfaction.

We will support you to evaluate and develop

your personal skills, in areas such as:

self-confidence

self-awareness

networking

interviewing

We offer a wealth of information and

resources covering:

improving your CV

focusing your job search activity

mock interviews and personal assessments

considering job offers, negotiating salariesand benefits

The facilities and resources available through

our Career Development Service will help

you to develop your skills set and create job

opportunities, ensuring that no part of your

career development is left to chance.

Furthermore, the strong links that we maintain

with industry and commerce mean that our

career fairs and presentations offer you access

to key figures from some of the worlds best

known companies.

Networking opportunities

We endeavour to use these strong linkswith the financial services industry to help

you identify avenues for career progression.

Throughout the year, we provide a variety of

opportunities to network with finance alumni,

including evening industry presentations.

We also organise a careers fair here at

Cranfield where you can attend pre-arranged

interviews with prestigious global companies.

At the heart of our philosophy is the belief

that the career development resources and

information we provide will prove a benefit

to you not only in your next role, butthroughout your entire career.

Chartered Financial Analyst

Qualification

The Cranfield MSc in Finance and

Management is specifically designed to

cover much of the Chartered Financial

Analyst (CFA) syllabus.

During your time at Cranfield we offer

you full support and actively encourage

you to sit the first and second part of this

international and industry-recognised

qualification. This global qualification will

distinguish you from other candidates

and significantly enhance your

employment prospects.

Your personal and career development are an integral part of the Cranfield learning

experience. Your MSc programme teaches you how to do the job, and do it well. Our

Career Development Service will support you in your search for the right job and

career progression.



7/16

The course nicely balances theory with practice, and management with finance. It played a vitalrole in strengthening my self-confidence and broadened my employment horizons deepening my

ambition to pursue a successful career in investment banking.I learned a great deal, much of which would have taken years to pick up on the job and which Iknow helped me to stand out when I left providing me with the knowledge and ability to impressand succeed in this tremendously competitive and exciting industry.

Andrew CollinsPanmure Gordon & Co plc, London


8/16

Teaching andlearning methodsWe place great emphasis on personal development through a teaching style that sets us apar t

from our rivals. The programme has been developed to produce practical, proactive financial

professionals, so our teaching methods are specifically geared toward encouraging participation,

self-development and teamworking.

At the heart of our teaching is a will to see you

understand your own learning style, nurture

your practical business skills and develop

personally in an environment that brings the

best out in you as a future business person.

Our teaching methods include a diverse

range of stimulating learning experiences, with

a huge emphasis placed on real-world

business challenges. Modules include a mix of:

interactive lectures

participative exercises

readings on articles and case studies

sessions hosted by high profile visiting

speakers from industry

We also link up with our industry partner s to

arrange visits to the major financial service

organisations so you can learn first-hand

how their businesses operate.

The thesis is your opportunity to undertake a

practical and relevant research project. You

will apply financial and management skills,

knowledge and analytical abilities to a real-

world project on current financial issues

within a top organisation.

Our reputation and the close links we

maintain with our industry partners enable us

to introduce you to some highly influential

companies in which to carry out your

research project. Project sponsors have

included: Bank of New York Mellon, Citigroup,Goldman Sachs, IFX Markets, Rothchilds, State

Street, UK National Audit Office, Epic

Investments, British American Tobacco,

UBS Warburg, Doughty Hanson & Co. and

Hermes Pensions Management.

Assessment is by both examination and

written course work and is set to challenge

you beyond the level at which you have been

taught. This encourages you to find your own

solutions to problems and breeds a level of

pro-activity that ensures you are not just an

intellectual, but a problem solver and a

solution finder.

By the time you graduate you will have

interacted with a diverse range of people,

become more confident and shown your

initiative in developing and scoping projects.

You will also have learned to apply new

techniques and theory to specific financialand management challenges.


9/16

Core finance modules

Financial Management

This core module gives you a basic grounding

in the essentials of corporate financial

management including the acquisition,

management and valuation of assets and

the main sources of finance.

International Corporate Finance

In an increasingly globalised market, firms

invest in other countries either to serve those

markets or to source valuable inputs. Such

investments entail foreign currency risk,

which is evaluated and managed by company

directors, corporate planners and the

potential treasurer. We will help you gain

a full understanding of the complexities of

international finance, the instruments used

to manage risk, and how that risk impacts

investment and financing decisions.

Financial Markets, Regulation

and EthicsThe main financial markets such as London,

New York and Tokyo are the nerve centres

around which international finance operates.

This module gives you a practical insight into

the topical issues that influence the operation

of these markets, such as trading institutions,

market making, position-taking, market types,

controversies in trading and debt, equity and

derivative markets. They have become

increasingly integrated over the last few years

through an explosive growth in new financial

instruments such as options, futures, swaps

and credit derivatives.

You will focus on the principal ethical issues

that are apparent in all financial markets. You

will explore pr incipal/agent conflicts, insider

trading, investment churning, accounting

abuses, conflicts of interest, socially responsible

investing and more. You will be encouraged

to reflect on your own ethical decision making

by considering a number of key personal

dilemmas, and advised on best practice and

strategies to deal with such issues.

Statistical Analysis for Finance

As finance is a highly quantitative subject,

this module provides you with the relevant

mathematical and statistical training required

to conduct appropriate empirical studies in

financial business and apply theoretical financial

models to practical work s ituations. You will

learn how these quantitative models are used

to estimate value, risk and cost of capital.

Research Methods in Finance

Published financial research is vital todeveloping an understanding of modern

financial theory and thinking. You need to

be able to assess, analyse and interpret it

thoroughly as well as be fully aware of its

limitations. By exploring some major

unresolved issues in financial thinking we

will stimulate you to re-evaluate theories in

the light of empir ical evidence. This module

will also prepare you to undertake the

necessary research for use in your thesis

later in the programme.

Term 1 and Term 2 Core modules

Programme structure

The MSc in Finance and Management is an 11 month full-time programme which begins in

September each year.

Term 1 and Term 2 Core modules

Core finance modules

Financial Management

International Corporate Finance

Financial Markets, Regulation and Ethics

Statistical Analysis for Finance

Research Methods in Finance

Valuation

Financial Modelling and Programming

Core management modules

Accounting

Economics

Marketing

Organisational Behaviour and Personal

Development

Strategic Management

Term 3 Electives andthesis preparation

Electives choice of four from

Corporate Restructuring

Fixed Interest Securities

Fund Management

Investment Analysis

Investment Banking

Mergers and Acquisitions

Private Equity

Advanced Financial Econometrics

Risk Analysis for Financial and Strategic

Decisions

Thesis research and preparation

Term 4 Thesis

Continuation and completion of thesis



10/16

Valuation

Accurate valuation of equity shares is vital to

establish the worth of an organisation and

make successful investment decisions based

on estimated risks and returns. You will gain

an appreciation of the history of equity

valuation practices and an overview of

different valuation models and their limitations.

You will also learn to value both tangible and

intangible assets.

Financial Modelling and Programming

The ability to develop sophisticated financial

simulation models is a valuable asset to the

successful financial manager. Learning about the

latest financial modelling techniques, and how

to apply them in different situations, will give

you the confidence and ability to develop

highly sophisticated financial simulation models.

This will aid your decision making in financial

planning, investment analysis and strategy.

Core management modules

Accounting

External reporting rules (reporting of

financial performance of entities) and internal

management accounting principles (for

costing, pricing and investment purposes)

are the important means by which you can

understand the financial operation of any

organisation. It is vital for you to learn to

recognise the main uses, limitations and

applications of this financial information.

EconomicsTo understand the relationship between the

organisation and its place in todays global

economy, it is important to develop a good

grasp of modern economic theory. Your main

focus will be microeconomics but we will also

introduce you to the ISLM macroeconomic

model. The use of mathematical models will

also make up a significant part of this module.

Marketing

The aim of this module is to develop your

understanding of marketing and customer

relationship management. This will contributeto your appreciation of key management

functions and the value they can add to

an organisation.You will focus mainly on

marketing in the service sector and

particularly financial services marketing.

Organisational Behaviour and

Personal Development

Successful management demands that you

understand the main elements affecting

individuals behaviour, group dynamics and the

effects of organisational structure on attitudes

and mindsets. Particular attention will be given

to helping you to explore leadership issues and

the links between organisational factors such

as change management, organisation culture

and succession planning.

Strategic Management

To fully understand strategic issues and be

empowered to take strategic decisions, finance

specialists must have a broad perspective of

the organisation. A good balance will be struck

between introducing you to tools and

techniques for strategic analysis and providingyou with opportunities to apply them to real

situations and examples.

Term 3 Electivesand thesis

Electives

To help you to tailor your learning to your

own specific interests, you will select four

elective modules from the following:

Corporate Restructuring

Restructuring has far-reaching financial

consequences for stakeholders such as

lenders, shareholders and managers. You need

to be fully aware of the context of corporate

restructuring, the range of options available

and their constraints, and how to establish

the right criteria for making restructur ing a

success. This includes analysis of the reasons

for corporate financial decline, the strategic,

operational, organisational, financial and

managerial restructuring methods and cases

that illustrate different frameworks for

turnaround strategies.

Fixed Interest Securities

This module explores fixed income markets,

highlighting the significant benefits and risks

that they carr y. You will gain a broad

understanding of their mechanics, the

valuation techniques for derivatives and

their use for hedging and trading. It is also

important for you to appreciate the limitations

of present knowledge in this area and how

current investment models are not always

suited to all modern situations.

Fund Management

Security valuation and analysis are important

subjects for the financial manager to master,

along with a broad understanding of

investment management. You will develop

a detailed knowledge of the institutional

investment management industry, including:

hedge funds, sources of added value, market

timing versus stock selection and key

management implementation issues.

Investment Analysis

It is vital that you can make an informed

assessment of the activities of professional

securities analysts, and the contribution they

make to the efficient operation of the capital

markets. After covering the main theory and

practice in investment analysis, we will give

you an overview of how easy or difficult it

is to make money on the stock market.

Investment Banking

Investment banks play a key role in

international finance and you need to be

aware of the factors that shape the modern

industry.The history of investment banking in

the UK, US and Europe will provide you with

sound background knowledge behind the

evolution of the industry.You will then gain

an insight into various types of investment

banking activities, the impact of globalisation,

competitive strategies of investment banks

and organisational and managerial issues.



11/16

Mergers and Acquisitions

Cranfield conducts major research into the

reasons for, and consequences of, mergers

and acquisitions activity. A thorough grounding

in the historic pattern of M&A activity will be

your first area of focus together with an

overview of the five stage M&A process. The

financial, strategic, economic and managerial

perspectives on mergers will give you the

organisations viewpoint. You wil l also cover

the fundamentals of the deal transaction,

antitrust regulation, the bid process and

post-acquisition analysis of organisational

performance. A simulated takeover game

helps students gain more insights into the

acquisition process.

Private Equity

Private equity investment has become a

major source of capital for innovation, growth

and corporate restructuring, and now

accounts for billions of pounds of investments

worldwide. It is important to build your

knowledge of the importance of private

equity, as well as the rationale behind it and

how to measure its performance. Exploring

policy issues such as transparency, high

leverage and the impact of restructuring will

help you to understand the broader context

of private equity.

Advanced Financial Econometrics

Econometric techniques are used extensively

in developing financial models and solving

financial problems. Building on some of thetechniques covered in the Quantitative

Analysis module, you will focus on the

advantages and limitations of regression

analysis and the use of tools to improve your

financial modelling. We will help you develop

simultaneous equation models for problem

solving and investigate the properties of

financial data to understand how they affect

financial modelling in general.

Risk Analysis for Financial and

Strategic Decisions

In a world of increasing uncertainty, successful

managers should be able to incorporate risk

in decision-making, mitigating downsides and

benefiting from upsides. The aim of this

module is to provide students with a deep

understanding of a range of risk management

principles and modelling methods involving

randomness in finance and decision-making.

This module includes stochastic processes,

decision analysis , derivatives, options, and

strategic games. For each of these risk

management areas, students will not only be

introduced to the mechanics of thetechnique, but also shown the types of

situations in which each method can or

cannot be used.

Term 4 Thesis

The culmination of the learning process is

your opportunity to undertake a major

research project and acquire hands-on

experience with one of our leading industry

partners. Our significant industry links andhigh profile network of alumni give us the

opportunity to introduce you to top

organisations in which to carry out

your project . You wil l research,

report and present on a

subject of your choice,

have a chance to

develop prestigious contacts and make a real

difference in a genuine financial environment.

Your chosen subject area will be agreed in

consultation with the programme director

and you will then be allocated a supervisor

whose expertise lies in that field.

During your thesis you will work closely with

your supervisor who will support you and

provide expert guidance, advice and insights

into leading-edge thinking in your subject area.

This valuable learning experience will provide

you with a thorough grounding in a number

of disciplines, including:

principles of research

the research process

problem formulation

data collection

data analysis

report writing

These transferable skills are invaluable and you

will learn how to confidently apply them to

complex research challenges

in the workplace.


12/16

Join our international networkof highly influential alumni

Graduates of Cranfield form a very high profile network of international business people. Joining

that network opens up some significant oppor tunities for you, including networking events, lifelong

learning, career management and the chance to mix with influential industry leaders.

The Cranfield Management Association

(CMA) has been established for over 30

years. It is run by the alumni for the benefit of

the school, the alumni and its members,

boasting a 14,000 strong network of people

from a diverse range of industries embracing

120 countries worldwide.

As a student you will automatically become a

CMA member for the duration of your

programme, offering you the opportunity to

take advantage of some significant benefits:

Networking opportunities

This is a network of highly influential movers

and shakers in international business. They

value the time they spent at Cranfield and

are happy to advise other graduates on

career paths, key industries and employers.

Every year we host a range of events, offering

professional networking opportunities for

current and former students to meet, discuss

ideas and share experiences.

Lifelong learning

We believe continuous learning and

development are important benefits to

studying here. To keep your knowledge and

thinking fresh and up-to-date, we provide a

range of learning opportunities to support

you in your life after Cranfield:

speaker events

innovative short courses

management knowledge seminars

coaching courses

executive education

Career management

The CMA can also help you make the right

career choices. Whether you are seeking your

first role after graduation, or making a career

move later in life, there are numerous

resources here to help, both in advisory

and information form.

As a Cranfield graduate we welcome you to

continue your membership of the CMA and

benefit from the wealth of resources and

opportunities for the rest of your career.

At the heart of this programme is a faculty of highly regardedexperts who deliver cutting edge ideas centred on acclaimedresearch. The unique blend of theory and practice bringsindustry into the classroom. The Cranfield experience

remains relevant through the course of your career.

Aishah AhmadHead Private Client Services, Stanbic IBTC Bank


13/16

This programme developed all the fundamental skills to

prepare me to step into the financial services industry

the learning programme is intense, but it is definitely

worth it.

The friendships I developed, both personally and professionally

at Cranfield are invaluable. Not only the close relationshipsI built with my class-mates but also people from other

courses, backgrounds and cultures. This rich networking

opportunity definitely enhanced my learning experience

and my long term career.

Federico CelotInvestment Banker, London


14/16


15/16

Making yourapplicationOur dedicated team is here to help you achieve your professional goals and support you through

the application process. If you have any questions about the programme, or studying at Cranfield,

please contact:

Ellie Varricchio on +44 (0)1234 758102 or at [email protected]

Find out more

To gain a real feel for studying at Cranfield

please come and visit us. We host a numberof open days throughout the year - a great

opportunity to visit and meet our faculty,

students and staff. If you can't make it to one

of our planned open days please contact us

as we are happy to arrange a separate visit

at a time that suits you.

Entry requirements

We welcome applications from talented

candidates of all backgrounds. We consider

your qualifications, work experience and

test scores on an individual basis. Usually

candidates must:

Hold a recognised qualification, either:

a 1st or 2nd class UK Honours Degree

(or equivalent Bachelors Degree)

or a professional qualification

(e.g. ACCA)

Please note: Having taken into consideration

all your application details, the Programme

Director may also require you to undertake

the Graduate Management Admissions Test

(GMAT). A minimum GMAT score of 600 must

be attained, including analytical writing of 4.0.

The GMAT programme code for the MSc

in Finance and Management is K2H-N3-88.Visit: www.gmat.com for more information.

Have a good standard of English.

The participative nature of the programme

demands a high oral ability and written work

needs a strong business vocabulary. If English

is not your first language, you must take one

of the following:

Test of English as a Foreign Language

(www.toefl.org)

International English Language Testing

System (www.ielts.org)

English for Speakers of Other Languages

(www.cambridgeesol.org)

For more information on individual

score requirements please visit:


Please note: If you have studied in English

at Higher Education level you may not be

required to undertake an English test.

How to apply

To complete your application form on-line

please visit: www.cranfieldmsc.biz/fmor download the Word file and return it by

email or post to the address below. Please

contact us if you would prefer to complete

a paper application form.

To secure your place on the course and in

accommodation, it is advisable to apply as

early as possible as places are limited.

Please send your completed application to:

Admissions Office - Registry

Cranfield University School of Management

Cranfield, Bedfordshire MK43 0AL, UK

Fax: +44 (0)1234 752462

Email: [email protected]

We look forward to receiving your application

and welcoming you to Cranfield.

Ellie Varricchio and Adrienne Bougourd



16/16

Cranfield School of Management has a world-classreputation for high quality inspirational teaching, rigorousresearch and strong links with business and industry.

We place great emphasis on personal development andpractical knowledge which makes a genuine difference intodays workplace.

Our specialist masters portfolio includes:

Logistics and Supply Chain Management Finance and Management Strategic Marketing International Human Resource Management Managing Organisational Performance Programme and Project Management

We also have leading MBA, PhD and Executive Doctorate(DBA) programmes and are one of the worlds largestproviders of open and customised executive programmes.

To find out more visit www.cranfield.ac.uk/som

Cranfield School of ManagementCranfield, Bedfordshire MK43 0AL, UKTelephone: +44 (0)1234 758102Fax: +44 (0)1234 752326Email: [email protected]

Msc Finance and Management

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