Why I am interested in Financial Engineering and Computational Finance
I would like to submit my application for a Masters of Financial Engineering - Why I am interested in Financial Engineering and Computational Finance introduction. I believe that I have the necessary academic qualifications and passion to pursue a career in this field.
I am currently working for a leading investment firm as a support technician in the equities department where I have observed the today’s market is characterized by pools of liquid funds that could be channeled into projects of maximum opportunity and minimum risks. Lack of expertise in investment options can easily translate into financial losses. It is therefore important to employ strategies and instruments that will prioritize pricing, trading and proper portfolio management. This requires deep understanding of theory-based finance, computer modeling and advanced mathematical skills. Financial Engineering is a diverse field that is involved in the bundling and/or unbundling of securities. This is done for profit maximization by exchange of fixed incomes, equity, swaps etc. It involves several techniques including investment banking and corporate strategic planning. Computation finance is mathematically oriented to deal with pricing and risk management in financial markets. Computational finance has been triggered by structural changes in financial market since the1970s, with demand for qualitative techniques. Financial engineering and Computation finance are my major areas of interest.
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I am fascinated by the nature of money. Everybody loves money yet very few understand its nature. Man spend a lot of time and effort in the making of money but more often that not pay little or not attention at all to the management of money as it is often complex, annoying and tedious yet they are shocked by the outcomes! Money represents different things to each individual. Governments of the world require money to financial their national activities and failure to meet the budgetary requirement through traditional means as taxation would mean that the government debases its currency, thus diluting the value of the local currency. Depreciation in the value of money leads to the economic degradation of a country leading to poverty fuelling moral decay. The individuals with the most money are laden with opportunity; the more the better. Money promotes survival for only the fittest. It is said that what you make is not important; it is what you keep that matters. Money is not everything but it means the difference between life and imminent death and this is a challenge that I would personally like to tackle; advising clients on the best strategies that they should employ so as to remain viable in the industry and survive. On a personal level, I know what survival means. I came to NYC as a meek student from India. For me survival meant adjusting to the fast paces NY life, which was in sharp contrast to my homeland, learning the American culture and English. I can proudly say that I did because I successfully completed my bachelor’s degree in computer engineering (major GPA 3.5), became Americanized and did not have to pack up and leave. I am a gifted mathematician with computational abilities and a passion for numbers therefore mathematical finance will not be a problem albeit challenging. Mathematical finance responds to the perpetual changes in the finance industry. I am a capable team leader who will provide direction on the appropriate mathematical tools that can be applied through out an organization. I am capable of engaging in aggressive research, data manipulation and management and to deal with information that may be ambiguous. I have a proven track record in leadership, organizational and management skill. I am capable of working gas an individual or as part of a team with equal competence. I can take and follow given instructions to the latter. I am capable of prioritizing competing tasks and to multitask among numerous demanding tasks simultaneously. I have excellent written and oral communication skills and I am capable of effectively communicating with people within and without my levels in a fast paced working environment. I am capable of developing and maintaining relationships. I have strong work ethics, personal drive and enthusiasm.
This course will present me with immense opportunity to shape and direct the course of financial organizations by having a direct influence on the delivery and optimization of fixed income and equity models. It would also enable me to be an active researcher, analyzer and developer of strategies that will guide the frameworks of emerging and existing trade strategies. It will also give me insight into the pricing theory and models, fixed income options, correlation rates and equity options. By taking this course, I will be equipped to deal with account risk and to lay strategies to deal with securities portfolios as I will be equipped with the required academic knowledge applicable to the financial and economic worlds.
I look forward to a favorable response. Thank you.
Lyuu, Y. (2002). Financial Engineering and Computation: Principles, Mathematics, and Algorithms. Cambridge University Press. NY.