The Cambridge Master of Finance

Post-experience masters degree in finance

GLOBAL MARKETS.
GLOBAL REPUTATION.
THE CAMBRIDGE MFIN
Contents 1

Overview 3
A welcome from the Programme Director 4
A valuable blend of theory and practice 5
An opportunity to build skills, talents and networks 6
A broad mix of core courses, electives and projects 9
A bridge between Cambridge and the world of finance 12
A tailor-made personal and professional
development programme 15
A year within the University of Cambridge community 16
A chance to study alongside a diverse group
of fellow professionals 19
A rigorous selection process based on academic
qualifications and experience 20
2
The Cambridge Master of Finance 3
Overview

The Cambridge MFin will provide

you with the tools to broaden your
finance knowledge and develop
your professional skills.
You will emerge with the knowledge,
confidence and connections to
break through to the next stage of
your finance career.
4 A welcome from the Programme Director

Tap into the resources of

Cambridge Judge Business School,
the University of Cambridge and a
network of finance professionals.

The Master of Finance is a one year post-experience degree

for finance professionals. It provides an academically rigorous
and commercially relevant programme; enabling finance
professionals to consolidate their existing experience and
develop their future careers in finance.

Teaching focuses on the theory and practice of finance, drawing

upon the highly successful education provided at Cambridge
Judge Business School, as well as the University of Cambridges
long heritage of teaching and research in finance and related
disciplines. We have also built an excellent network of finance
practitioners and institutions to help us deliver our goal of a
rigorous but commercially relevant programme.

Entry into the degree is highly competitive, and students must

have a strong academic record and at least two years successful
work experience in finance. The class will be drawn from all
over the world and from a wide range of academic and finance
disciplines. Through this, students will benefit from learning
alongside a high quality, diverse and professionally strong peer
group who can offer support and stimulation throughout the
one-year programme and beyond.

If you are interested in becoming a part of the MFin degree

then please visit our website at www.jbs.cam.ac.uk/mfin

Simon Taylor, MFin Director

A valuable blend of theory and practice
Academically rigorous and
commercially relevant, the Cambridge
MFin will consolidate your existing
experience and provide new insights.
Why the Cambridge MFin?
MFin students
All MFin students have a minimum of two
years postgraduation work experience in
finance, which leads to a rich and diverse peer
group.
Distinguished faculty
Our finance faculty are leaders in their
fields and are at the cutting edge of
financial research.
Networks
Youll benefit from involvement in a
wide range of networks at Cambridge
Judge Business School and throughout the
University of Cambridge. Students have
access to an alumni network with strong
links to the banking and finance industry
and networking events take place
throughout the year.
Collaborative learning
Is at the heart of the Cambridge Judge
Business School ethos. The small class
encourages discussion and the sharing of
ideas.
Practitioners
Finance practitioners play a central role
in the delivery of the programme, through
teaching, seminars, speaker events and
involvement in projects.
Personal and professional development
Through a series of lectures, simulations
and workshops, students gain awareness of
core business skills needed for a successful
career in finance. Resources also comprise
1:1 advice sessions, workshops and seminars
to develop skills such as career planning, job
searching, interview practice, CV writing and
networking.
CFA Programme Partner
The CFA institute recognises that the
MFin covers a large part of the CFA level 1
curriculum. The partnership provides a small
number of scholarships to MFin students.
These cover the cost of registering with the
CFA Institute and entering the CFA level 1
exam. Scholarship recipients also benefit
from access to study resources and events.
5
The Cambridge advantage
Cambridge Judge Business School
Home to the Universitys Finance and
Accounting Teaching Group, the business
school is a provider of high quality business
and finance education. Students benefit
from interaction with regular high profile
speakers drawn from across business and
a diverse pool of students from other
teaching programmes.
University of Cambridge Departments
Paul Kelly
The University is home to dedicated
MFin 2014
departments in law, land economy, maths
and economics that enable access to a
The MFin year delivered
broader study of finance as a discipline.
a golden triangle of
Research centres opportunities. Namely, the
The University is home to seven research ability to further develop
centres dedicated to finance. High standards my finance skills, to live
of research, knowledge-sharing and in a historical college and
dialogue ensure enhanced teaching and to be part of the wider
intellectual discussion. Cambridge community
College life and all the incredible
All MFin students become a member of one experiences it brings.
of the 31 Cambridge colleges. This provides
the opportunity to be part of the community
outside Cambridge Judge Business School.
Clubs, societies, social events and sports are
at the heart of the college experience.
Student groups
Special Interest Groups and specialised
student societies all offer opportunities to
gain more experience in areas of particular
interest. They are a forum for sharing ideas
and expertise on a less formal basis.
6 An opportunity to build skills, talents and networks

A year at the University of Cambridge,

a world-class centre of learning
with an outstanding heritage in the
research and teaching of finance.
The MFin is a full-time degree that starts in
late September and runs for 12 months. All of
the participants have at least two years prior
work experience in a finance related role.
Teaching is delivered through a series of
core and elective courses. You will experience
a high level of interaction with finance
practitioners through opportunities like the
weekly City Speaker Series. You will then put
learning into practice through projects.
Approximately 5% of the MFin degree
comprises non-financial material which
enables you to broaden your experience at
Cambridge beyond finance, develop your
interpersonal skills and engage in various
career development workshops.

Programme Overview

Michaelmas Lent Easter Summer

Term 1 Term 2 Term 3 JulyAugust
SeptemberDecember JanuaryMarch AprilJune

Electives Electives Summer

3 or 4 courses to be taken 4 or 5 courses to be taken* Activity

5 Core Courses

2 Core Courses

* some of these electives can also

be taken during the Summer

Maths and Statistics Pre-Course Management Lecture Series Equity Research Project
City Speaker Series and Practice Group Consulting Project
Personal and Professional Development Summer Activity
7
 8

Core courses

Econometrics
Economic Foundations of Finance
Financial Institutions and Markets
Financial Reporting and Analysis
Fundamentals of Credit
Introduction to Derivatives
Management Lecture Series
Management Practice
Principles of Finance

Elective courses

Advanced Corporate Finance

Advanced Credit
Advanced Derivatives
Asian Capital Markets
Financial Reporting and Capital Markets
Fixed Income Analysis
Further Derivatives
Further Econometrics: Time Series
International Macroeconomics and Finance
Mergers and Acquisitions
Overview of Financial Regulation
Private Equity
Real Estate Finance and Investments
Risk Management and Hedging in Markets
The Coming of Modern Capital Markets
Topics in Investment Management
Venture Capital and the Entrepreneurial World

*please note that the specific courses

on offer are subject to change from
year to year
A broad mix of core courses, electives and projects
Gain a rigorous grounding in the core
concepts, an understanding of applied
finance and the chance to integrate
theory and practice.
Core courses, Elective courses
and Assessment
Core courses The core courses provide
the foundation to the MFin. They ensure
that all students have a solid grounding in
the financial theory, concepts and analysis
expected of a masters degree.
Elective courses Elective courses focus more
on the practice of finance. Students will take
seven elective courses which are taught in the
second and third terms.
Assessment Assessment is achieved through
a mix of exams, written assignments and
presentations. Teaching is typically delivered
through formal lectures, participative
workshops and case learning. We want to
foster a learning environment where ideas
can be generated and discussed and we
expect students to contribute actively to this
environment.
Management Topics
A small part of the MFin syllabus is devoted
to non finance topics which are relevant
to people working in a finance role. The
Management Lecture Series is a core course
comprising a set of bite-size seminars. Topics
are chosen to illustrate the broader business
and organisational context in which finance
ideas are used. Management Practice is a
core course designed to help develop an
understanding of self and others. Reflective
approaches to team work and the practice of
management are also covered.
Projects
Equity Research Project
In groups, students produce an equity
research report with a valuation,
recommendation and analysis of risk.
The report is designed to advise on the
investment potential of that company
and make an active recommendation to
buy or sell shares in the company.
The team present their results to a group
of actual investment managers and
equity analysts.
9
Group Consulting Project
In teams, students spend a month working on
a project for a client on a financial consulting
topic. This project is based on a successful
format from the Cambridge MBA and
provides a chance for students to work on a
real assignment for a host company. Every
year we have one or two projects that take
place outside UK (China, Hong Kong, Portugal,
Mongolia and Abu Dhabi) and in future we
aim to expand the international projects we
offer. In previous years, GCPs were hosted by
Cenk Ozdemir
such companies as Abu Dhabi Islamic Bank,
Amadeus Capital Partners, Barclays, BNY MFin 2014
Mellon, Capital Generation Partners, Citibank,
GIC, IMF/World Bank, and Standard and Poors. The Group Consulting
Project provides a golden
Financial modelling opportunity to practice
This programme is intended to train students intellectual and financial
in financial model building best practice skills, not only for those
through a series of hands on exercises students whose career
including the construction of a fully prospects focus on the
integrated model from scratch. consulting industry, but
also for students who
Summer Activity
are keen to discover new
subsectors of finance. The
In the summer, you must undertake one of
GCP experience is of great
the following activities:
value before returning to
An Individual Project. professional life.
Bespoke project opportunities with our
corporate partners may be available
A choice of a number of electives courses.
An internship or work placement. Students
source their own internships based on their
areas of interest.
A summer programme at Tsinghua
University, PBC School of Finance, China
Students are also required to complete a
1,500 word end of year report, reflecting on
their MFin experience and learning outcomes.
10
11
 12 A bridge between Cambridge and the world of finance

Our City Speaker Series brings a

further stream of practical financial
expertise and the opportunity to
network with finance professionals.
The City Speaker Series Nick ODonohoe, CEO Big Society Capital
Chris Eagle, Head of European Foreign
The City Speaker series covers a wide range Exchange Sales Jeffries
of finance subjects, institutions, product areas
and roles. The subjects will be determined Ewan Kirk, Founder
by the speakers themselves, with a focus on Cantab Capital Partners
topical themes, deals and business problems Tom Hall, Equity Partner and Co-Head of the
that they have faced. The speakers are experts Media team Apax Partners UK Ltd.
in their fields, working at the cutting edge Andrea Traversone, Partner, Wireless
of applied finance. The talk is followed by a Telecommunications sector
Q&A session, and a small group of students Amadeus Capital Partners
then accompany the speaker for dinner at a
Sam Bunt Cambridge College. Michael Wilkins, Managing Director,
Infrastructure Finance Ratings group
MFin 2013
Examples of previous speakers include: Standard and Poors Ratings Services
The world class reputation Perry Boyle, Managing Director Adam Cohen, Senior Director Societe
of Cambridge University SAC Capital Advisors Generale
gives students access Chris McHugh, Investment Banking Europe Anne-Marie Fleurbaaij, Senior Vice President
to an equally world (IBEU) HSBC GIC
class set of speakers
Adam Sorab, Head of Investor Relations CQS Tirad Mahmoud , CEO Abu Dhabi Islamic
and presenters. The City
Bank
Speaker series linked the Paul Tucker, Partner Egerton Capital
City with the textbook, Mark Fitzgerald , Managing Director Global
Richard Evans, Chief Risk Officer, Institutional
and was invaluable in Markets Strategy Group Blackrock
Clients Group Citibank
gaining real world insight Kristine Braden, Managing Director, Head of
into the financial sector, Charles Sherwood, Partner Permira
Europe Global Subsidiaries Group Citi
career paths and career Rick Lacaille, Global Chief Investment Officer
Helen Steers, Partner Pantheon Ventures
opportunities available. State Street Global Advisors
Pierre Cherki, Managing Director of RREEF
Deutsche Bank
Randall Dillard, Partner and CIO
Liongate Capital Management
Dania Seiglie, Managing Director, Energy
Societe Generale
Jamie Walton, Managing Director, Head of
Global Macro Quants Morgan Stanley
Philip Yates, Partner
Perella Weinberg Partners
Hosein Khajeh-Hosseiny, Managing
Director and Head of Global Private Equity
Investments Northgate Capital
Gerhard Grueter, Managing Partner
Sapia Partners
Alan Brown, Senior Advisor Schroders
Omar Askari, Portfolio Manager
Reech REIM LLP
13
14
A tailor-made personal and professional
development programme
In addition to your studies, we
provide a programme of workshops
and 1:1 coaching sessions to help you
achieve your professional objectives.
At Cambridge Judge Business School, we
are committed to helping our students
focus on their professional future. To support
students with achieving their objectives,
we work closely with them throughout the
programme, helping to identify career goals
and designing action plans to meet them.
Careers workshops and sessions running
this year include:
Overview of Financial Services
This introductory workshop gives students
an overview of the overall Finance sector
with up to date insights regarding career
opportunities in various markets and sub-
sectors.
CV Workshop
This workshop will enable students to
create a tailored one page CV and deepen
their understanding of what an effective
MFin level CV looks like.
CV Group Review Sessions
Using peer feedback this session enables
students to refine their CV.
Alumni Panels
An opportunity to hear from MFin alumni
regarding their job search techniques,
their current roles and trends in their
sectors, and best practices for success.
Presentation Skills
Hands on workshop to help students
hone their presentation techniques
Job Search
Practical tips to help students to build a
structured job search and tips on working
with head hunters.
Preparation for Finance Interviews
This provides a review of the financial market
and valuation methodologies and helps to
answer technical interview questions.
Negotiation Skills
An opportunity to explore negotiation
approaches and develop your negotiation
skills effectively.
Coaching Sessions
45 minute one to one sessions to discuss
career development and job search strategy.
15
Team Management System Workshop
Exploring individual work and lifestyle
preferences using this integrated system
designed to help organisations and
individuals perform optimally and work
effectively to achieve their personal and
professional goals.
Smarter Networking
An interactive workshop focusing on the
importance of networking to help you find
your next role and to build and foster your
professional network. The sessions will cover
Serene Koh
leveraging networking events, how to
MFin, 2012
mingle professionally and creating a
networking plan.
The MFin offers a very
Range of Practitioner based Career rounded education. We
Sessions are taught technical skills
Linked In Session as well as trained on soft
Focusing on how social media can help skills which are essential in
promote your personal brand and influence clinching the best careers in
your career. the financial industry.
Networking Evenings
An opportunity to meet and with alumni and
professionals within the financial services
sector in London.
Asset Management Event
A networking event with alumni and Asset
Management companies.
Access to Sector-Specific Career Advice
There will be plenty of opportunities
throughout the year for you to engage with
both Alumni and senior finance practitioners
from across the Finance industry. One to one
career coaching with industry practitioners
will also be available
In addition to the above, MFin students will
have access to a range of online careers
resources, and a series of finance specific on-
campus recruitment events throughout the
course of the year.
 16 A year within the University of Cambridge community

Just one hour from London, the

historic yet dynamic city of
Cambridge provides an inspiring
learning environment.
The University of Cambridge offers its to connect with each other, the business
students plenty of opportunities to connect school, the local community, and the world
with the broader community outside of the at large; through organising business, social,
formal teaching environment. sports, cultural and community events.

Andres Arboleda
MFin 2013
College life serves as a
perfect counterbalance
to the rigorousness of
the MFin program. From
rowing and football to
formal dinners and May
Balls, your college enriches
your personal and cultural
experience and allows you
to make long lasting friends
from different disciplines
and countries. This was truly
an incredible experience
worth living again.
There are almost 400 University Clubs and
Societies, which cater for a wide range of
interests including a successful student led
investment club.
Colleges have active drama and music
societies, sports facilities and boat clubs.
MFin students enjoy participating in
these activities and often represent their
college at sporting events.
The University regularly hosts high profile
speakers from many walks of life. This offers
students a further opportunity to meet
new people and learn about areas outside
of finance.
College Life
MFin students will automatically become a
member of one of the colleges. Many MFin
students live in college, and you will usually
spend some time eating and socialising there.
Most colleges have their own library, chapel,
dining hall and bar, and there is always a
great range of sporting and cultural clubs and
societies for you to enjoy.
Oxbridge Sports Tournament
In keeping with the long standing
competitive tradition between Oxford and
Cambridge. This annual sports event features
a wide range of sports and athletics, with
participants from Oxford Universitys Said
Business School as well as CJBS. This is a
great opportunity to savour the true flavour
of the competitive spirit between the two
Universities, in addition to a engaging with
Oxford University students and broadening
your network.
Cambridge University Finance and
Investment Society (CUFIS)
The Cambridge University Finance and
Investment Society (CUFIS) is the largest
finance and investment society at the
University of Cambridge with over 2,500
members. Founded in 2001, the club invests
a 27,000 fund (the Relative Return Fund)
directly in capital markets. The club arranges
events for sponsoring Banks and Finance
houses; and organises various workshops
in Investment Banking, Sales and Trading,
Private Equity, Venture Capital, Hedge Funds,
and Investment Management.

The majority of single MFin students are

housed in college accommodation which
usually consists of a single room, with access
to shared bathroom and kitchen facilities.
College accommodation is not always
within the college site, and many students
are housed in college owned houses in
residential streets around Cambridge.

Some of Whats on Offer

The Cambridge Business School

Club (CBSC)
Run by MBA as well as MFin students, it
exists to complement the Judge Business
School experience by fostering interactions
between students, companies and other
business schools. The CBSC enables students
17
18
A chance to study alongside a diverse
group of fellow professionals
The MFin attracts a diverse group of
finance professionals. Learning from
each others experiences creates a
powerful classroom environment.
Who should apply?
The programme is particularly relevant for:
Those who have developed a very narrow
specialisation professionally and want to
broaden their experience
Those who went straight into the industry
from university and now want to take
stock, consolidate their experience and
gain a masters degree to support their
professional development
Those who studied a subject other than
finance at undergraduate level and find they
would benefit from a finance masters degree
Those who want to benefit from learning
alongside strong, experienced peers in
an intellectually stimulating environment
MFin or CFA?
On the Cambridge MFin you can have the
best of both worlds. We are an accredited
CFA programme partner, with a large part of
the CFA level 1 body of knowledge covered
2016 Class Finance Industry Breakdown
Strategy / Corporate Planning 8%
Hedge Funds 2%
Venture Capital/
Private Equity 8%
Commercial/
Retail Banking 10%
Financial Accounting/
Law 14%
Asset Management 10%
19
within the MFin Curriculum. The exposure
you get on the MFin will help foster a well
rounded understanding of a broad spectrum
of finance disciplines ranging from Asset
Management to Venture Capital guiding
your future career decisions along the way.
A small, select group
Our aim is to maintain a relatively small
class size (of around 60 students) in order to
protect the learning experience. This offers
students an opportunity to engage with one
another, our faculty and our speakers. The
emphasis is on providing students with a well Julio Recalde
rounded, collaborative and culturally diverse MFin 2015
environment to pursue their studies.
What I enjoyed the most
2016 class profile about our Group Consulting
Project with Barclays was
our results presentation
Size of Class 51
to the Head of Research
Nationalities 29 and the leading Research
Average Work Experience 5 years Analyst. It was invaluable
to discuss our findings
Range in Work Experience 2 18 years
with them and receive
Female/Male Split 41% / 59% their honest feedback.
During the project I also
learned how to harmonise
different expectations
and motivations in a small
multicultural team, which
Im looking forward to
applying in my finance
Investment Banking 13% career.
Public Sector Finance13%
Financial Consulting 8%
Financial Role in
Non-Financial Company 14%
 20
Yvonne Omenya
MFin 2013
The program exceeded
my expectations. I would
have never imagined
the intensity, diversity
and opportunities of the
course. A very supportive
administration, exciting
projects, diverse team
members and exceptional
Cambridge culture; I could
not ask for more. I was able
to secure an internship
through the programme
and Im pursuing my career
choice.
A rigorous selection process based on
academic qualifications and experience
To join the programme you
need a strong academic record and
at least two years successful work
experience in finance.
We run a rolling admissions process and external funding bodies. We encourage you to
applications will be accepted for consideration explore national and regional funding sources
until all available places are filled. independently as well.
The deadline for applying is 31 May 2017.
However admissions may close earlier
should the class become full. Therefore Applying to the Cambridge MFin
early application is advised. If the class is full
candidates may be invited to join a waiting list.
Application
Entrance into the MFin is competitive.
Applicants must demonstrate that they
Submit application online.
meet the minimum entry criteria. Successful
candidates are expected to have a strong
academic record, good analytical and
communication skills and be willing to engage
Interview
fully with the course. They must
also demonstrate success in their career
Application reviewed, if successful,
to date and the potential to continue this
interview by a finance faculty member
on their return.
at Cambridge Judge Business School.
Minimum entry requirements
A strong undergraduate degree. UK 1st class or
high 2:1 / at least GPA3.6 or equivalent Conditional offer
Minimum of 2 years professional experience
If interview successful, conditional
(after graduation) in a finance-related role.
offer is made.
A high standard of English language. Fluency
or TOEFEL min score 110 with 5.0 in essay or
IELTS min of 7.5 with no band below 7.0
Three references: professional (line manager or College place and funding guarantee
equivalent), peer (professional colleague) and
academic You must provide evidence of how you
will fund the course. In addition, you
Fees and financing must pay a reservation fee. The MFin
office will apply for a college place on
41,900 including college fee your behalf.
Application fee: 100
In addition we recommend that students
budget an additional 12,530 to cover living
expenses for the year. Unconditional offer
Funding Once all the conditions have been met,
an unconditional offer is made.
Cambridge Judge Business School provides
a number of MFin specific scholarships (see
website). Financial support is also available Please apply online at
through Cambridge Trusts and a number of www.jbs.cam.ac.uk/mfin
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MFin Office
Cambridge Judge Business School
University of Cambridge
Trumpington Street
Cambridge CB2 1AG
United Kingdom

T +44(0)1223 330775
F +44(0)1223 339701
E mfin-enquiries@jbs.cam.ac.uk
www.jbs.cam.ac.uk/mfin

Cambridge Judge Business School

has the copyright of all original
material contained in this brochure
(October 2014)