Finance and insurance

Professional opportunities

Specialist in Financial Instrument Pricing & Asset‑Liability Management

Functionality

• Designs both traditional (equities, bonds) and modern (derivatives) financial products, as well as collective investment strategies (e.g. mutual funds, portfolio management).
• Performs valuation of complex structured financial instruments—liquid and illiquid—using replication techniques aligned with International Accounting Standards (IAS).
• Develops quantitative investment strategies and integrated asset‑liability management (ALM) frameworks.
• Applies statistical methods and time‑series analysis.
• Designs capital‑or yield‑guaranteed products and corresponding ALM strategies.
• Manages dynamic portfolio techniques for medium‑ to long‑term investment horizons.
• Constructs currency hedging strategies and designs derivatives-based solutions to enhance passive index replication or improve risk‑return characteristics.

Skills

• Proficient in probability theory and its practical applications.
• Expertise in univariate and multivariate probability distributions for random variables and stochastic processes.
• Adept at time‑series analysis, statistical modeling, parameter estimation, and calibration.
• Skilled in stochastic simulation techniques.
• Competent in relevant computational tools and numerical modeling.

Career Opportunities

• Financial and banking intermediaries
• Consulting and auditing firms
• Research centers
• Regulatory and supervisory authorities
• Financial group enterprises
• Doctoral studies in quantitative finance and risk modeling

Specialist in Risk Management for Banking & Financial Sector

Functionality

• Maps risks and develops quantitative monitoring and control tools.
• Implements data-quality procedures for internal credit scoring models.
• Designs capital requirement calculations under Basel III frameworks both deterministically and stochastically.
• Measures contributions of various risk sources to total instrument risk, including structured products and derivatives.
• Crafts static and dynamic hedging strategies, and evaluates hedge effectiveness.
• Develops stress‑testing and scenario‑analysis models for assets and liabilities in compliance with regulatory standards.

Skills

• Theoretical and applied knowledge of probability.
• Knowledge of statistical methodology and techniques for the analysis of business data as well as financial and banking markets.
• Ability to address numerically the problems of stochastic simulation of assets and liabilities.
• Knowledge of computational tools for the operational implementation of quantitative models.
• Knowledge of the regulatory framework of the sector.

Career Opportunities

• Financial institutions and banks
• Collective asset management firms
• Consulting companies
• Regulatory authorities
• Private equity firms
• Non‑financial enterprises with in‑house finance functions
• Ph.D. in risk management and financial modeling

Actuary (subject to successful completion of the State Examination in accordance with current regulations) and specialist in the Actuarial Function.

Functionality
a. Designs and develops stochastic quantitative models for the valuation, monitoring, and control of insurance Best Estimate Liabilities in both the life and non-life sectors.
b. Designs life and non-life insurance products and implements quantitative tools for pricing and profitability analysis, in compliance with national and international insurance regulations.
c. Designs and develops models for the valuation of insurance portfolios and for the assessment of insurance companies.
d. Studies and applies statistical models for estimating the underlying assumptions used in pricing and reserving life and non-life insurance contracts.
e. Designs and implements metrics for the evaluation of underwriting and reinsurance policies within an insurance portfolio.
f. Designs and implements ALM (Asset–Liability Management) models for insurance financial management, for assessing the cost of embedded options in life insurance contracts, and for the hedging of guarantees therein.
g. Designs and implements techniques and metrics for evaluating the medium- and long-term sustainability of pension and welfare institutions. 

Skills

• Theoretical knowledge of actuarial mathematics.
• Knowledge of the techniques and finance of private and social insurance.
• Ability to address numerically the problems of stochastic simulation of assets and liabilities.
• Knowledge of the methodology and techniques for the statistical analysis of data.
• Knowledge of computational tools for the operational implementation of quantitative models.
• Knowledge of the regulatory framework of the insurance sector.

Career Opportunities

• Insurance companies
• Insurance brokerage firms
• Pension funds and health funds
• Consulting firms
• Supervisory authorities
• Actuary — preparation for the State Examination (in accordance with current regulations)

Specialist in risk management for the insurance sector.

Functionality

a. Designs risk mapping frameworks and develops quantitative tools for monitoring and control in compliance with Solvency II regulations.
b. Implements internal procedures for the analysis and evaluation of data quality in support of the development of internal models for assessing the Solvency Capital Requirement.
c. Designs and develops deterministic and stochastic operational models for the calculation of solvency capital requirements in accordance with Solvency II principles.
d. Carries out measurements of the contribution of different sources of uncertainty to the overall risk of life and non-life insurance products.
e. Designs models for the simulation and stress-testing analysis of assets and liabilities, in compliance with national and international insurance regulations.

Skills

• Theoretical and applied knowledge of probability.
• Knowledge of statistical methodology and techniques for the analysis of corporate data and of financial and insurance markets.
• Knowledge of financial risk-hedging instruments.
• Ability to address numerically the problems of stochastic simulation of assets and liabilities.
• Knowledge of computational tools for the operational implementation of quantitative models.
• Knowledge of the regulatory framework of the sector.

Career Opportunities

• Insurance companies
• Insurance brokerage firms
• Pension funds and health funds
• Consulting firms
• Supervisory authorities
• PhD program in Quantitative Models for Risk Management in the Insurance Sector

Specialist in financial data and risk analysis.

Functionality

a. Designs and implements models for the analysis and interpretation of financial data.
b. Identifies, develops, and applies models for the assessment and mitigation of financial risks.
c. Designs and implements predictive models for financial data.
d. Solves complex quantitative problems to measure financial risk in its various forms.
e. Designs and applies procedures required for the analysis and utilization of available data in the development of internal scoring models for the creditworthiness of financial counterparties.
f. Implements models for the evaluation of capital adequacy and solvency requirements of financial institutions.

Skills

• Theoretical and practical knowledge of probability.
• Knowledge of statistical methodologies and techniques for the analysis of business, financial, and insurance market data.
• Knowledge of models for risk assessment and optimization.
• Knowledge of sector-specific regulations.
• Knowledge of the main computational tools used in the financial domain.
• Knowledge of basic and specialized econometric techniques for financial data analysis.
• Knowledge of methodologies for time series analysis.
• Knowledge of mathematical and statistical software.

Career Opportunities

• Financial and banking intermediaries.
• Central banks.
• Collective investment management companies.
• Pension funds and health funds.
• Research centers.
• Regulatory and supervisory authorities overseeing financial markets and financial institutions.