POLYTECHNIC UNIVERSITY 2005-2007

FINANCIAL ENGINEERING PROGRAM
Academic Director: Frederick Novomestky
GOALS AND OBJECTIVES
The goals of the Financial Engineering
Program are to educate financial market
professionals and technology managers
for fast-moving, highly rewarding careers
that create value enabled by finance,
technology and mathematics.
THE MASTER OF
SCIENCE PROGRAM
The Master of Science in Financial
Engineering (FE) is designed to provide
the skills required to operate at the cutting-edge
of financial engineering in
today’s financial services industry.
Separate tracks make it possible to pursue
careers in capital markets, in financial
technology or computational finance. The
program is rigorous, demanding and
selective. Graduates of the Capital
Markets Track are expected to seek positions
in financial risk management
groups, on trading and arbitrage desks, in
product structuring groups, in derivatives
groups, in investment banking departments
and in the information-technology
firms that support the trading operations
of financial institutions. Graduates of the
Financial Technology Track are best
viewed as information technologist who
are actively involved in the development
and implementation of the entire spectrum
of software applications, databases
and networks used in modern financial
services firms.
The Computational Finance Track has
a strong emphasis on quantitative finance
for those individuals with academic or
applied business research interests in cutting-edge
investment science and finance.
In quantitative finance, the tasks of modeling,
simulation and optimization are
essential. The methodologies associated
with these tasks are similar to those used
in other program domains addressed by
operations research and management science.
Candidates who pursue this track
must demonstrate a high level of academic
scholarship and performance as well as
a strong aptitude for applied mathematics.
The Computational Finance Track is
a graduate honor program that integrates
selected courses from the Department of
Mathematics and the Department of
Electrical and Computer Engineering.
Graduates of the Computational Finance
Track will be qualified to continue their
education in PhD programs as well as
work in research and advanced product
development departments of financial
firms and consulting organizations.
Graduates are expected to seek positions
in commercial banks, investment
banks, thrifts, insurance companies,
investment companies, pension funds,
finance companies, consulting firms,
energy marketing firms, accounting firms
with consultancy practices and so forth.
Polytechnic’s Master of Science in
Financial Engineering brings together
three key areas: finance and related business
disciplines, quantitative analysis
(mathematics and statistics) and information
technology (telecommunications and
computer science). Polytechnic has long
been recognized as a leader in both
advanced mathematics and information
technology. Now, through its FE program
and associated research and curriculum
development, Polytechnic has positioned
itself to be a leader in the financial technology
on which financial institutions
increasingly depend for their revenue
streams. The financial component has
been further strengthened by developing
a large and versatile adjunct faculty consisting
of leading financial market practitioners
from major Wall Street firms. The
adjunct faculty works closely with
Polytechnic’s full-time faculty.
GRADUATE CERTIFICATES
The Graduate Certificate Program is an
“add-on” to Polytechnic’s existing graduate
program in financial engineering.
Graduating students seeking employment
in the financial services industry and possessing
this certificate should have a sizable
advantage over job seekers lacking
such a credential.
The Graduate Certificate Program prepares
participants for the challenges of
today’s financial services industry.
Completion of the certificate program
offers students the means to implement
dynamic strategies in the complex and
developing capital markets and financial
technology divisions of investment and
commercial banks, corporate treasury
offices, government agencies, financial
advisory firms, consulting firms, energy
marketing firms and other modern financial
institutions.
Financial Engineering Certificates are
offered in the following fields:
• Financial Engineering
• Financial Technology Management
• Risk Management
Visit www.fe.poly.edu for the most current
information.
ACCELERATED HONORS
PROGRAM
BS MATHEMATICS/MS
FINANCIAL ENGINEERING
Jointly offered by the Department of
Mathematics and the Department of
Management, a new accelerated Bachelor
of Science in Mathematics and a Master
of Science in Financial Engineering
Honors Program addresses an educational
and professional need within the financial
services industry. This program is
geared to attract outstanding high school
students interested in pursuing careers in
mathematics, in general, and job opportunities
in the financial services industry, in
particular.
The program is comparable to BS/MS
programs in computer science, electrical
engineering and organizational behavior
offered by the Department of
Management. Students receive both
degrees at the end of either a four-year or
a five-year track.
Students in the BS Mathematics/MS
Financial Engineering Honors Program
must meet all University requirements to
complete each degree. Both degrees are
awarded at the end of either four years or
five years.
For more information on the BS in
Mathematics, contact Erwin Lutwak at
718-260-3366 or lutwak@poly.edu. For
more information on the MS in
Financial Engineering, contact
Frederick Novomestky at 718-260-3436
or fnovomes@poly.edu.
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