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FINANCE
CQF
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
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.
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.
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Your CQF journey
Supporting you beyond the program
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Find out more about the CQF program Submit your application online at We offer three optional primers that are
by attending one of our live information www.cqf.com/apply. You will receive a designed to help get you up to speed
sessions or global online webinars, where decision regarding your application within ahead of the program.
you can: 48 hours.
Mathematics Covers mathematical
Meet members of the faculty Should you have any questions preliminaries used within quant finance.
Discuss details about the program about the application process,
contact us at info@cqf.com or call Programming Introduces scientific
Find out more about your career options computing in Python to enable new users
+44 (0)845 072 7620.
Register for an information session at to begin implementing models.
www.cqf.com 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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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.
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.
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.
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
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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
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
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MODULE TWO MODULE THREE
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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.
Advanced Risk Management Counterparty Credit Risk Modeling Data Analytics with Python
This elective looks at techniques used Counterparty credit risk and other Data analysis has become a key tool
to manage risk and how they satisfy the related risks have become more in any quants toolbox. This elective
regulatory landscape. pronounced and need to be taken into looks at how to use Python and Python
account during pricing and modeling libraries to analyze financial data and
Risk Management: Overview
stages. This elective goes through risks organize it in ways that allow you to use
The Basel Accords: Basel I, II and III
associated with the counterparty and the data to make meaningful decisions.
Value at Risk to Expected Shortfall
how they are included in modeling.
Minimum Capital Requirements 2016 Python Idioms and Data Structures
Sensitivities and AAD Credit Risk to Credit Derivatives Using NumPy for Numerical Analysis
Liquidity Horizons (LH) CVA, DVA, FVA Using Pandas for Financial Time
Aggregation of Risk and Correlation Interest Rates for Counterparty Risk Series Analysis
Extreme Value Theory Dynamic Models and Modeling Financial Data Visualization for Static
Counterparty Credit Risk Accord Interest Rate Swap CVA and and Streaming Data
The Dynamic Nature of Liquidity Implementation of Dynamic Model
www.cqf.com/program 12
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
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.
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
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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 Delivered by some of the most
Library of over 800 hours of lectures on every eminent practitioners and academics,
conceivable finance subject including Dr. Paul Wilmott, Dr. Peter
Jckel, Dr. Espen Gaarder Haug, Dr.
Ever-expanding and up-to-date content
Alonso Pea and Dr. Sbastien Lleo
JAVA C++
Introductory Java course with seven interactive Over 70 hours of tuition across 28 recorded
lectures especially designed for quants sessions
Covers everything you need to know about Critical to a role as a modern quant in a top-tier
the basic framework of how Java works 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
16
Dr. Peter Jckel Professor Stephen Taylor
Peter is the founder and Managing Director of Stephen has held a Chair in Finance at Lancaster
OTC Analytics. He received his DPhil in Physics University Management School since 1993.
from Oxford University in 1995. Peter migrated His degrees are in Mathematics and Operational
into quantitative analysis and financial modeling Research. He teaches financial econometrics
in 1997 when he joined Nikko Securities. in 1998, at Lancaster and in recent years has been a
he changed to NatWest, which later became Visiting Lecturer at universities in Norway, China,
part of the Royal Bank of Scotland group. From Australia and New Zealand. His seminal work
2004 to 2008, he was with ABN AMRO as Global on stochastic volatility and GARCH models is
Head of Credit, Hybrid, Inflation, and Commodity incorporated in the highly cited book Modelling
Derivative Analytics. Peter is the author of the Financial Time Series (Wiley 1986 & World
book Monte Carlo Methods in Finance (2002). Scientific 2008).
17 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.
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Joining the program
Whats included and how to apply
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
21
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.
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.
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
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