Advanced Programme in Quantitative Finance and Risk Management

Programme Overview

In modern finance, quants are the new power players. As financial markets become increasingly volatile and unpredictable, financial institutions, including top banks and hedge funds, are seeking quants to help harness the power of advanced analytics, AI and machine learning to drive business growth and mitigate risk. With demand for quants continuing to outstrip supply, professionals with expertise in quantitative finance and risk management are in prime positions to capitalize on emerging opportunities.

IIM Ahmedabad's Advanced Programme in Quantitative Finance and Risk Management is designed to help professionals thrive in this high-demand field. This six-to-seven-month programme provides a comprehensive understanding of financial markets, products, institutions, the Black-Scholes model, machine learning applications in finance and more. You'll develop the tools needed to describe financial markets, make predictions in the face of uncertainty and find optimal solutions to business and investment decisions. With this expertise, participants will be equipped with the skills to take on leadership roles in quantitative finance and risk management.

Learning Outcomes

Gain a deep understanding of the mathematical and economic principles underlying derivative pricing and risk management.

Apply the Black-Scholes model and its extensions to real-world financial problems, including option pricing and risk management.

Learn numerical methods used in computational finance, including Python programming and be able to apply them to solve complex financial problems.

Understand how to apply machine learning techniques to financial problems, including risk management and portfolio optimization.

Acquire knowledge of mathematical techniques used in quantitative risk management, including Value-at-Risk and stress testing.

Be familiar with the current state-of-the-art in quantitative finance, including recent developments in machine learning applications and risk management.

Curriculum Structure

Financial markets, products and institutions
Principle of no-arbitrage and pricing of forwards, futures and options
Essentials of calculus, linear algebra, probability theory and stochastic processes for quantitative finance
Properties of Brownian motion and applications of Ito’s lemma

Different ways to get to the Black-Scholes model and their equivalence
The idea of option Greeks, volatility smile and local and stochastic volatility models
Early exercise feature, barriers and design of structured products
The numeraire change toolkit and the Libor Market Model

PAC learning framework for machine learning
Support vector machines, Neural networks and LASSO
Online learning and reinforcement learning
Importance sampling and Markov Chain Monte Carlo methods

Value at risk, conditional value at risk and other tail risk measures
Probability of default, expected loss and credit risk
The Merton and the Moody’s-KMV model of credit risk
Backtesting, stress testing and model risk management
Counterparty risk: CVA, DVA and other adjustments

Why should you do this programme?

Position yourself to lead and innovate in financial engineering and risk analysis with advanced quant skills integral to the modern economic landscape.

Benefit from a programme crafted by IIMA, renowned for its excellence in quantitative finance and risk management and consistently ranked among the top B-schools globally.

Comprehensive Capstone Project on Business Strategy

Learn from distinguished IIMA faculty members with expertise in quantitative finance and risk management, who bring real-world experience and academic rigor to the programme.

Apply your knowledge through real-life case studies, exercises, presentations, quizzes and assignments, ensuring actionable takeaways for implementing effective quantitative finance practices.

Benefit of IIMC Strategic Business Management Course

Access understandable knowledge about advanced modelling, programming and risk analysis skills to tackle complex challenges in statistical finance.

Experience the vibrant academic environment of IIMA's campus, interacting with peers and industry experts and leveraging the institute's strong network.

Frequently Asked Questions

This programme is tailored for professionals across all levels – from junior to senior management – with a strong foundation in mathematics. Ideal candidates include risk analysts, quantitative analysts, traders and risk managers, as well as those working in boutique trading firms, risk analytics, and captive research centers. Banking and hedge fund professionals will also benefit, while final-year students pursuing engineering or mathematics degrees looking to break into quantitative finance roles will find this programme particularly valuable.

To be eligible, applicants must have: A graduate degree (10+2+3 or equivalent) with a minimum of 50% marks. Relevant work experience is required, with the programme being open to professionals at all levels, including senior, middle and junior management, as well as entrepreneurs. Strong quantitative aptitude and a keen interest in pursuing a finance-focused programme.

This programme will empower participants to excel in quantitative finance by equipping them with advanced skills in financial engineering, risk analysis and derivatives pricing. They will learn to apply cutting-edge quantitative models, programming techniques and risk management strategies to tackle complex financial challenges. Through real-life case studies and practical exercises, participants will gain hands-on experience in analysing and managing financial risk, enabling them to make informed decisions and drive business growth in their organizations.

Yes. Participants who meet the evaluation and attendance (80%) criteria will receive a Certificate of Completion from IIM Ahmedabad.

Participants will attend live online sessions on the VCNow platform through direct-to-desktop (D2D) mode. Additionally, they will have the unique opportunity to visit the IIMA campus for an intensive 4-day on-campus immersion (2 visits of 2 days each). The live online sessions will take place every Saturday from 3 PM to 6 PM.

Application fees (To be paid during online application): INR 2,000 + GST (Non-refundable)

The total programme fee is INR 4,00,000 + GST, payable in two instalments:

INR 2,00,000 + GST (initial payment)

INR 2,00,000 + GST (by November 10, 2025)

Last date to apply - August 23, 2025

Programme inauguration - September 6, 2025

First campus module - September 6-7, 2025

Online sessions starts - September 13, 2025 (Tentative)

Final campus module - March 2026 (Tentative)

Note: All dates are subject to change as per sole discretion of the institute

Get the guidance you need to make sure that you are making the right decision here. Consult VCNow’s Senior Programme Advisors at (+91) 8929594554.

The high-stakes world of finance needs quants & risk professionals. Position yourself to lead.