Some of the Core Courses offered in the Private Banking & Wealth Management specialization

Please note that this list is not exhaustive and subject to change

This MSc in Finance course focuses on the most basic financial products: stocks and bonds.

You acquire a working knowledge of stock and bonds: the characteristics of the instruments and their markets, the factors affecting the way in which they trade and their uses by different players in the global financial markets. An important part of the course is the mathematics of stocks and bonds, and the implementation of practical tools to compute returns and yields, assess risk, and determine fundamental values.

Main topics for stocks are: equity valuation models (dividend discount and free cash flow models, P/E ratio valuation), risk and risk measurement, macroeconomic and industry analysis.

For bonds: bond prices and yields, the term structure of interest rates, interest rate risk and bond duration and convexity.

This master course focuses on the measurement and management of different types of financial risk such as market risk, credit risk, liquidity risk, and operational risk, and develops a framework for integrated risk management.

This finance course emphasizes the Value-at-Risk (VaR) technique and its applications. You learn and implement quantitative techniques for risk management via Excel spreadsheets and derivatives software.

This master’s degree course focuses on “plain vanilla” financial derivatives such as options, futures, and swaps, the markets in which they trade and some of the strategies that can be constructed using these derivative instruments.

Forwards and futures on commodities, stock index futures, stock options, interest rate swaps and credit default are studied in some detail. You will learn the characteristics and specifications of these derivative products, will study their uses for hedging, arbitrage and speculation, various long-short strategies, and will develop an intuition about the factors that affect the way in which they trade.

This course introduces the theory and practice of the financial management of companies.

Topics include cost of capital and optimal capital structure, capital budgeting, working capital management, long term debt financing, common and preferred stock financing, dividend policy, share buybacks, and corporate governance. Students will develop an understanding of companies’ behavior and needs by learning how firms raise and allocate capital, and by studying ethical issues linked to this decision process.

This course undertakes in-depth study of specific financial decisions and events that are important in the life of a corporation. The course balances theoretical content and practical applications by using several case-studies that are useful for real-life decisions you may need to make.

The core of this course is the event-driven interaction within vestment banks. The basic topics are IPO, SPO, Corporate Bond Issuance and the professional handling of an IB relationship.

This course explores the subtleties and complications that arise in applying financial accounting standards to investments in equity and debt securities.

Students will analyze the financial information – in particular, financial statements – in quarterly and annual reports of publicly traded corporations to gain insight in the valuation of securities issued by them. To achieve its main objective, the course first imparts students with a thorough understanding of the fundamental principles of financial accounting and reporting and exposes them to key accounting measurement topics and issues as they relate to the preparation and analysis of financial statements.

Second, the course discusses conceptual and technical problems in measuring the performance, assets, and liabilities of firms. In particular, the material discussed covers specific accounting issues such as long-lived assets, inventories, and on and off-balance sheet liabilities.

Lastly, the course concludes with a dis-cussion of financial statement analysis techniques and methods, finan-cial forecasting, and valuation of corporations.

This is a graduate level course in International Macroeconomics which aims to enable students to analyze, interpret and understand the forces shaping the current global economy, and to develop forecasting and investing skills. All macroeconomic concepts and tools will be applied to practical “Global Macro” investing decisions.

Accordingly, the course explores macroeconomic themes and macro drivers such as business cycles, national output and growth, national income accounts, consumer spending, productivity, fiscal policy, budget financing, public and private debts’ sustainability, inflation, money supply, interest rates, monetary policy, and foreign exchange rates.

This course introduces classical descriptive and inferential statistics with a focus on financial data, including summary measures of data, graphical presentation of data, random variables, common probability distributions, expected values, estimation, confidence intervals, and hypothesis testing.

The course then introduces the use of ordinary least squares (OLS) simple and multiple regression to model relationships amongst financial and economic variables, and a brief introduction to time series.

Statistical properties of financial data will be studied in details. Several quantitative models used in finance will be analyzed and critiqued. The course relies extensively on use of the spreadsheet package Excel.

The students learn how to combine different asset classes into investment portfolios according to modern portfolio theory, with the objective of achieving an optimal risk-return profile. Major topics are the Capital Asset Pricing Model (CAPM), the Arbitrage Pricing Theory (APT) and multifactor models. Different portfolio management techniques are analyzed with respect to empirical evidence of security returns. Using data from Bloomberg and Reuters, the students construct and monitor their own investment portfolios.
This workshop seeks to enhance students’ abilities to conduct research and data analysis in finance and convey the outcome to a general audience. Students will learn how to formulate a research topic, pro-duce a relevant literature review, choose and justify a methodological approach.

Professional Immersion (Internship, Thesis or Applied Project)

At the end of the academic year, the applied research project or the internship gives you the opportunity to apply the theory gained in the MSc in Finance program and to further develop your interests and competencies in a chosen field of specialization.

In your internship search, you are supported by all IUM faculty members and by the IUM Career Office, providing you with information and guidance on the finance job market place, helping you throughout the year to carefully prepare your applications for these competitive markets.

Some of the companies where Alumni have interned or are still working are:
American Express Bank Paris
Bank Julius Baer Switzerland
Bank J.Safra Monaco
Banque Populaire du Luxembourg
Barclays Wealth Geneva
Ing Bank Amsterdam
Merrill Lynch Monaco
BNP Paribas Private Bank
SocGen Private Banking Monaco
Credit Foncier Monaco
PriceWaterhouse coopers Brussels

CERTIFICATION

The International University of Monaco has been chosen by the AMAF (Monaco’s Finance Association) to develop Monaco’s certification for finance professionals.

This certification insures that finance professionals have the technical and deontological standards required by the Principality’s finance industry. While studying for your Master of Science in Finance Program, you also have the opportunity to get trained on all aspects of the certification, giving you an additional asset for Monaco’s job market.

Alumni Testimonials

The Master in Finance with specialization in Wealth management was a winning choice for my studies. Its key strength is to develop “critical thinking” on a daily basis.

This “full immersion” program combines lectures and applied projects on real case studies but also provides students with access to conferences, professionals and industry mentors that can make the difference for their future.

IUM gave me the opportunity to develop a solid financial background, to build a professional network and life-long friends . This experience is one of the best in my life and I would recommend it to anyone.

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