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Postgraduate Program in Financial Markets and Risks

MRF

Postgraduate Program in Financial Markets and Risks

Resulting from a partnership between NOVA Information Management School and ISCTE Executive Education, the Postgraduate Program of Financial Markets and Risks combines a prestigious teaching staff, that aligns knowledge and scientific rigor with practical experience, current and innovative contents with a strong applied component, in a structured program providing staff at financial sectors specialized training in the creation, analysis, and assessment of financial instruments, with a particular focus on derivatives, and the identification and implementation of integrated technical analysis and management of assets, liabilities and financial risks.

The program is designed under the best international standards set by the CFA Institute's Global Body of Investment Knowledge (GBIK), the Financial Risk Manager (FRM) of Global Association of Risk Professionals (GARP) and GARP's Financial Risk Manager (FRM), covering all the key knowledge required for financial system professionals. This Postgraduate Program is accredited as GARP Academic Partner, meaning that GARP recognizes that the program covers at least 70% of the body of knowledge required for the FRM Part I and Part II examinations.

This Postgraduate Program gives access to the Master Degree Program in Statistics and Information Management, with a specialization in Risk Analysis and Management. This Master Program is ranked as the best Master degree program in Insurance, Risk and Actuarial Sciences in Portugal and 4th best in the World by Eduniversal, an international agency that publishes an annual ranking of the best MBA and Master's degrees in the world.

The applications for this program are open until August 30th, 2024. To apply, please go to the ISCTE Applications Portal.

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Partner Entity

  • ISCTE
    ISCTE - Executive Education
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Curricular
Unit		 Program Annual Prize
Value
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  • Vagas (1)

    Format

    After Working Hours

  • Media

    Length and ECTS

    4 trimesters (60 ECTS)

  • Semestres

    Attendance

    2 to 3 times a week

  • Lingua

    Start Date

    September 2024

Who is it for? image

Who is it for?

This program is aimed at:

  • Asset and/or Risk managers in Banks and Insurance Companies;
  • Managers of Investment Funds, Pension Funds or Heritage Managers;
  • Staff in charge of Capital Markets and Risk Analysis and Management;
  • Staff in charge of treasury and markets;
  • Regulators and traders;
  • Analysts of foreign exchange, currency and capital markets;
  • Staff in charge of research on stocks and bonds;
  • Business people wishing to prepare for the Exam FRM Part I;
  • Consultants and Financial Auditors;
  • Financial Analysts and Investment Advisors*;
  • Private investors.

* Students who want to pursue financial analysis and investment advisory activity must inform CMVM and request the registration in accordance with CMVM Regulation No. 12/2018 of 29 January 2019. Due to the entry of CMVM Regulation No. 12/2018, on January 29, 2019, which amended CMVM Regulation No. 2/2007, the possibility of CMVM conferring equivalence to training courses or examinations for Admission to registration of investment advisers and financial analysts has been deleted.

Goals

The main goals of this program are:

  • Analysis and detailed assessment of the main financial products and instruments, with particular focus on derivatives;

  • Identification and development of integrated technical analysis and management of several financial risks, whether in terms of their coverage and conduct of speculation and arbitrage transactions;

  • Development of analytical skills and decision in the management of assets and liabilities, particularly in the management of investment portfolios, treasury, pension funds and management of investment funds;

  • Development of techniques and processes for financial innovation, notably the development and evaluation of new products, asset classes, and operations.

Study Plan

The Study Plan is structured in 4 trimesters in a total of 12 course units, corresponding to 60 ECTS for the award of a joint diploma from NOVA IMS and ISCTE Executive Education. The course units are:

Mandatory Course Units

  • Asset and Liability Management
  • Bond Markets
  • Company Valuation
  • Credit Risk
  • Data Science For Finance
  • Ethics in Financial Markets Seminar
  • Financial Derivatives
  • Financial Options and Structured Products
  • Foreign Exchange and Money Markets
  • Longevity-Linked Securities & Derivatives
  • Market Risk
  • Portfolio Management
Course Unit
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Cycle I

Course Units ECTS
FX and Money Markets 3
Data Science for Finance 4,5
Corporate Valuation 4
Portfolio Management 3,5
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Cycle II

Course Units ECTS
Fixed Income Securities 7,5
Financial Derivatives 7,5
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Cycle III

Course Units ECTS
Longevity-Linked Securities & Derivatives 7,5
Financial Options and Structured Products 7,5
Ethical and Professional Standards -
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Cycle IV

Course Units ECTS
Asset and Liability Management 7,5
Market Risk 3,5
Credit Risk 4
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Access to Master Degree Program

This Postgraduate Program gives access to the Master degree program in Statistics and Information Management, with a specialization in Risk Analysis and Management. This Master Program is ranked as the best Master degree program in Insurance, Risk and Actuarial Sciences in Portugal, the 4th best in the World by Eduniversal - international agency that publishes an annual ranking of the best MBA and Master's degrees in the world.

Certification Financial Risk Manager (FRM) of Global Association of Risk Professionals (GARP)

The best 6 students of the Postgraduate Program of Financial Markets and Risks in the academic year 2020-2021 will be automatically enrolled in the Part I FRM exam that will take place in November 2021 in Lisbon.

Length, Timetable and Exams

Length

The classes will start in September 2023, ending in June 2024, running after working hours (after 6:30 p.m.), 2 to 3 times a week, at NOVA IMS, in Lisbon.

Timetable

See here the timetable for academic year 2024-2025.

Exams

See the exams calendar here to 3rd trimester for the academic year 2023-2024.

Admissions and Fees

The Admissions' Jury Panel of NOVA IMS is looking for excellent students who have the potential to become good technical staff and excellent managers. Qualities such as maturity, determination and motivation, both in the academic path as well in a professional career, are some of the attributes that the Jury Panel is looking for.

Entry Requirements

To enter this program, applicants must meet the following requirements:

  • Hold a bachelor's degree in a compatible field (completed by September 2023);
  • Be proficient in English (spoken and written).

Application Fee

The fee of the application is €51. The application can only be considered after the payment of the application fee, within the stipulated period, non-refundable in case of withdrawal or non-admission in the program.

Tuition Fee

The tuition fee of this postgraduate program is €7.500. Includes the materials prepared by the faculty, coffee break and parking in NOVA IMS campus, in Lisbon.

Registration Fee

After being admitted to the program and upon confirmation of enrollment, the applicant must make a payment of a pre-registration fee (around one week after the admission result announcement), deductible in this postgraduate program's tuition fee, non-refundable in case of withdrawal, with the following value:

  • €1.250 for applicants from EU and Portuguese-speaking countries;
  • €2.500 for applicants from other countries, unless their registration fee is provided by an official entity.

Upon registration, students should make the following payments:

  • €35 - for enrollment fee (the value is updated annually);
  • €1,40 - for annual school insurance (the value is updated annually).

Tuition Fee Payment Dates

The tuition fee of this postgraduate program can be paid in full or in four installments:

  • Full payment: September 25th to 30th, 2023.
  • Payment in four installments:
    • 1st September 25th to 30th, 2023 (25% of tuition fee);
    • 2nd November 25th to 30th, 2023 (25% of tuition fee);
    • 3rd February 22nd to 28th, 2024 (25% of tuition fee);
    • 4th April 25th to 30th, 2024 (25% of tuition fee).

Discounts

  • Financial discount: students who choose to pay the tuition fee in a single payment have a 2,5% discount on the payable amount;
  • Alumni who have completed a bachelor's, postgraduate, master degree, or a doctoral Programs at NOVA IMS, ISCTE Executive Education and ISCTE-IUL, from a different program of the one they will attend, have a 10% discount on the tuition fee, cumulative with the financial discount;
  • Companies that finance the program to 2 employees, in the same academic year, have a 10% discount on the tuition fee. This discount is not cumulative with other discounts;
  • Companies that finance the program to 3 or more employees, in the same academic year, have a 20% discount on the tuition fee. This discount is not cumulative with other discounts.
  • Members of the Ordem dos Engenheiros – Região Sul, have 15% discount on tuition fees. This discount can be extended to members' spouses and descendants upon presentation of valid documentation. For more information, please contact admissions@novaims.unl.pt. This discount is not cumulative with other financial discounts.

Scholarships

The NOVA IMS programs, offer a unique learning experience, combining theory with the application of the best and most innovative teaching practices.

If you are interested in studying at NOVA IMS and want to explore scholarship and award opportunities, this page is your starting point to discover the options available in the different programs.

Know more about it here.

FAQ

Do you have a question? Explore the most frequently asked questions and find the answer here! If you still have unanswered questions, please contact us!

  • Applications

    When can I apply?

    It is only possible to submit the application during its applications phase. The date of the call for applications is available in the Admissions and Fees page of each program. However, you can fill the application form at any time, submitting it when the applications phase starts.

    How can I apply?

    The applications are submitted online, in NOVA IMS’ Applications Portal. To submit their application, the applicants must register in the Portal, fill the form, upload your Curriculum Vitae, choose the program and pay the application fee in the Portal. The application process is the same for all the applicants, national or international.

    Which documents are required?

    The only mandatory document during the application process is the Curriculum Vitae (in .doc or .pdf format). The applicant can upload other documents such as diploma or other certificate of their qualifications.

    How do I convert a file to .PDF?

    Here is a list of websites where you can convert files to the pdf format, as a reference:

    Is there an application fee?

    The application fee is €51 in the academic year 2022-2023. The payment of the application fee will be made during the application process in the Applications’ Portal, through bank transfer/ATM reference, MBWay, PayPal or Visa. The application will only be considered successfully submitted after the payment of the application fee, within the stipulated time. It’s non-refundable in case of withdrawal or non-admission in the program.

    Can I apply to more than one program?

    You can apply to a maximum of 2 programs per application phase, by paying the application fee for each program, that is, the application to 1 program equals the payment of 1 application fee, the application to 2 programs equals the payment of 2 application fees.

    I'm a bachelor's degree senior student. Can I apply ?

    Yes. If you are a final year student and you graduate until September 2023, you can apply and you must deliver an authenticated copy of your degree certificate or diploma until the beginning of the academic year, until September 2023.

    In the application form, a Tax Identification Number is requested. What is Tax Identification Number? I don’t have one, what should I put in that blank field?

    In Portugal, the Tax Identification Number is required to identify a taxable entity or person, in tax declarations or financial transactions. If you don’t have a Tax ID Number or similar, please put “999999999” in that field of the application form.

    What should I write in the field: “Goals/motivation to apply to this program”?

    In this field, please mention:

    • In which way your background (academic and professional) fits the program;
    • What are your short-term professional goals;
    • What are your expectations with the attendance of this program.

  • Admission

    How does the selection process work?

    The selection process is based on the analysis of the academic and professional curriculum. The members of the Admissions’ Jury Panel may decide to hold an interview with all or some candidates – face-to-face or videoconference).

    In case I am contacted for an interview, can it be held at distance?

    Yes, the interview can be held at distance, preferably by Skype.

    When will I know the result of the application?

    The result of the application will be known, through email, in the date to be announced in the confirmation of submitted application email and/or by the Admissions’ Jury/Programs Manager.

    I was admitted in the program. What’s the next step?

    In case of admission, the applicant must make the payment of the pre-registration fee (around 1 week after the result announcement), until its deadline, in NOVA IMS’ Applications Portal and upload the diploma or other certificate of his latest qualification (example: Bachelor’s degree, Master’s degree or PhD).

    Can I attend more than one program by academic year?

    Yes, you may attend two programs per school year, although it’s not recommended. Please pay attention to the fact that there may be overlap of the Mandatory Course Units of each program, as well as the overlap of the exams.

    I was admitted in two programs, but I only intend to attend one. What should I do?

    In case of admission to two programs, the candidate will have to choose, in the Application Portal, the program in which they intend to attend. After choosing the desired program and paying the pre-registration fee, you must select the option "Withdrawal" in the 2nd program in which you do not intend to attend. Thus, your vacancy is available to a candidate on the Waiting List.

    I'm on the Waiting List. Can I still be admitted?

    Since it is possible for candidates to apply for two programs per application phase, there will be cases where the same candidate has been admitted to both programs, but intends to join only one. In these cases and if the limit number of vacancies is not completed, the remaining vacancy will be assigned to a candidate on the Waiting List.

    I intend the invoice for the payment of the application / pre-registration fees.

    The Invoice-Receipt will be available in this Applications’ Portal up to 2 business days after the payment, in the tab "Billing/Treasury".

    I was admitted in the program, but I need visa. What should I do?

    NOVA IMS can issue a document that proves admission in the program, that will be sent to the student and the Embassy. The document will only be issued or provided after the payment of the pre-registration fee. Regardless of issuance the document, the student must contact the Portuguese Embassy or Consulate in their country to get more information.

  • Other Informations

    Is this program taught in Portuguese or English?

    Considering the diversity of students’ nationalities, all the classes will be taught in English.

    Are there scholarships?

    NOVA IMS does not award scholarships. However, you can apply to Universidade Nova de Lisboa’ scholarships and financial support, provided by the university’s Social Welfare Services. You can learn more at https://sas.unl.pt/en/scholarships-2/scholarships_/ or contact them directly to bolsas@unl.pt. We don’t hold information about other scholarships.

    Is it possible to park on campus?

    The students can park their vehicles on campus, if they have the access card. There are several parking areas on campus and near to NOVA IMS. The request for access of vehicles to Campus de Campolide is made through registration or renewal of registration and subsequent payment. To do this, the interested parties should register in the system and select the type of access. Afterwards, they will receive all the data for the payment. It should be noted that the management of parking spaces is the exclusive responsibility of the NOVA’s Rectory. For more information, please visit the webpage http://www.unl.pt/en/nova/parking-campus.

    Is there accommodation on campus?

    The Social Welfare Services of Universidade Nova has ties with three student residences (one of them in Campus de Campolide) for Portuguese scholarship student and international students. The capacity of accommodation at school residences is limited. We can’t, in any way, guarantee you a room and we can only put your name on a waiting list, only after confirmation of admission. You will find more information about the residences at https://sas.unl.pt/en/accommodation/. 

    In case you are admitted to the program and want accommodation in one of the University’s residences, please contact adnovaims@novaims.unl.pt.

    Can you help me look for accommodation websites?

    Here’s a list of websites, just for reference:

    Does the University offer a Portuguese course for international students?

    Yes, there is a Course of Portuguese as Foreign Language. This course is available in 4 types of classes:

    1. Individual lessons (the student arranges the schedule with the teacher according to their availability);
    2. Semester Group lessons (56 study classes + 8 hours for other activities);
    3. 30 hours intensive course (2 weeks);
    4. Online summer course (month of July).

    If you have any questions about this course, please contact: cursoportugues@fcsh.unl.pt.

João Prelhaz
Performance Management | Galp
Soraia Pedro
Actuary | CA Vida
Bárbara Brito
Transfer Pricing Senior Consultant | KPMG
Tomás Pimentel Fontes
Beyond Vision
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This postgraduate allowed me to consolidate my knowledge of markets and their financial aspects, considering my background in chemical engineering. I learned to better understand how these markets and financial flows work and to apply financial products/tools to mitigate risks. I highlight the strong practical component of this course and the experience of the faculty, which enabled us to better understand the thematic content of the course and its practical application. I also emphasize the use of machine learning and other digital tools, which make this course very up-to-date and prepared for current and future challenges.
Finally, and considering that I work for a large national company (Galp), where financial markets and risk (or risk mitigation) are daily tasks and challenges, the knowledge acquired will allow me to make and/or support decisions in a more informed and robust way to generate more value for the company. I have already recommended the course to some colleagues and friends.
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The Postgraduate Program in Financial Markets and Risks provides a comprehensive overview of the main assets in the market and their characteristics, as well as the identification and implementation of techniques for the analysis and management of financial risks. Let us note you that this postgraduate degree covers much of the material included in the Financial Risk Manager (FRM) Part I and II Program, making it an excellent choice for future professional development. Finally, the quality and availability of the faculty is another important major plus.
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The Postgraduate Program in Financial Markets and Risks stands out for its comprehensiveness, considering the perspective of the several players in the market and linking theoretical concepts with the reality. An excellent investment for those who are considering professional development in this area.
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The study plan of the Postgraduate Program in Financial Markets and Risks offers a comprehensive and comprehensive training on capital markets and risk analysis and management. The faculty is highly prestigious with a focus on framing content in a real context in order to provide students with a perspective close to what they may find in their professional lives.