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Personal statement for MSc in Financial Mathematics and Computation

geniusnth 1 / - Jun 17, 2012 #1

"The water that bears the boat is the same that swallows it up." It is the Chinese metaphor that suggests if
something is used correctly, it will be of benefit. If used incorrectly, it will do harm. Over the past few decades,
the emergence of financial innovations has become an important role in financial markets for better risk
management. However, the increasing numbers of structured products such as CDO created in recent years
often appear difficult and ambiguous to be understood. Mismanagement of such tools could result in a disaster
to the user herself as if a short gun misfired. Realizing the importance and the necessity to master the edge of
financial techniques and to develop effective hedging strategies, I found a graduate education in mathematical
finance and computation would be vital for my knowledge and career development.

Having begun my career as a management trainee at corporate banking division in XXX Bank in 2008, I had a
chance to sail with the bank to overcome the unprecedented financial tsunami. During the time at the bank, I
was not only responsible for structuring credit facilities to mitigate the counterparty risks but also helping
corporate clients hedge their financial risks with plain vanilla financial instruments: interest rate swap and
currency forward contracts. However, financial analysis is becoming increasingly technical while the range of
alternative financial instruments is expanding and is becoming crucial for effective hedging. Therefore, rather
than limiting myself in the fixed income segment, I moved forward to be a trading analyst with XXX Security
Ltd, responsible for financial analysis on stocks and derivatives recommendation. At the security firm, as well
as hedging, derivatives such as index futures and options are used to engage in arbitrage in reaction to market
mispricing. I was impressed by one of the firm's directors that demonstrated how mathematics finance
combining technology derived conclusions that can be otherwise difficult to find or not immediately obvious
from intuition in practice. My motivation to study advanced level of financial mathematics and computation was
further developed.

The rationale of hedging strategies was backed by the theories of mathematical finance. It is a field of applying
advanced mathematical methods with computer technology to price financial tools and to suggest strategies
for investment. In my undergraduate study, both of my majors had a close relationship with mathematical
finance. From financial econometrics courses, I learned to generate models based on historical data for trend
projection. From the finance courses, I learned the reputed financial models such as Hull White models and
Black Scholes models to price the derivatives. Both majors provided me a good preparation for the study of
financial mathematics. Yet, in order to fully comprehend the master's degree program, I would like to study
Mathematics Pre-Master Diploma Program towards the postgraduate degree progressively.

In the recent years, the renewed focuses on risk management, new products for complex regulatory
environments and ever-increasing augmentation of machines into the investment process such as high
frequency trading and algorithmic trading have opened up tremendous prospect for the field of financial
mathematics. The Master of Science in Financial Mathematics and Computation at University of XXX stands
out for me because of its practical and highly quantitative contents. The programme offers core courses
dedicated to mathematical tools commonly used in finance - C++ Programming. Together with elective courses
such as "Advanced Methods of Derivative Pricing" workshops, the curriculum of the programme will equip me
with quantitative techniques and practical knowledge that are essential to achieving my career goals. I believe
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that my past working experience would add value to class discussions by bringing in real-life examples in the
banking industry and stock markets.

dumi 1 / 6,928 1592 Jun 18, 2012 #2

geniusnth - The water that bears the boat is the same that swallows it up." It is the Chinese metaphor that suggests if
something is used correctly, it will be of benefit. If used incorrectly, it will do harm.

---------- good opening :)

the emergence of financial innovations has becomeplayed an important role in financial markets forbetter risk
management.to manage risk better .

geniusnth - However, the increasing numbers of structured products such as CDO created in recent years often appear
difficult and ambiguous to be understood.

---------- What is CDO? you've got to tell us :)

adaiah 1 / 2 Jun 21, 2012 #3

"The water that bears the boat is the same that swallows it up." It is the Chinese metaphor that suggests if
something is used correctly, it will be of benefit. If used incorrectly, it will do harm. Over the past few decades,
the emergence ofemerging financial innovations has have played an important role in financial markets,
which has resulted in better risk management. However, structured products such as CDO created in recent
years often appear difficult and ambiguous to be understood. Mismanagement of such tools (you only
mentioned one tool, therefore it should be ) tool could result in a disaster to the users themselves as if a short
gun misfired. Realizing the importance and the necessity to master the edge of financial techniques and to
develop effective hedging strategies, I found that a graduate education in Mathematical Finance and
Computation would be vital for my knowledge and career development.

Statement MSc - Master in Financial Mathematics program [3] ✓ ~ 2012 - Graduate

(to devote myself to mathematics) UCAS Personal Statement about Mathematics [3] ✓ ~ 2012 - Undergraduat
e

Studying Mathematics - My personal statement [3] ✓ ~ 2008 - Undergraduate

Teaching mathematics; - PERSONAL STATEMENT [12] ✓ ~ 2007 - Undergraduate

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