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Postgraduate Program in Data Science for Finance

Pós-Graduação em Data Science for Finance

Postgraduate Program in Data Science for Finance

The Postgraduate Diploma in Data Science for Finance is an internationally innovative training program that offers a quantitative and analytical approach to finance, aimed at professionals in the financial sector seeking a more analytical approach to the areas of valuation of financial assets, trading, risk management, financial engineering, predictive models, financial computing, among others. It also provides an understanding of the potential transformations in the financial industry resulting from the adoption of blockchain technology by Fintech & InsurTech. The program prepares senior management for successful careers in the areas of investment banking, asset management, hedge funds and investment advisory, risk management, sales and trading, hedge funds, financial engineering, financial technology, and consulting/advisory.

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 Risk Management in Portugal and 2nd best in the World by Eduniversal, an international agency that publishes an annual ranking of the best MBA and Master degrees in the world.

The applications for this program are open between April 9th and May 7th, 2024. To apply, click here.

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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 geared towards technically minded graduates wanting a deeper, more analytical study of finance, risk management and financial engineering that is found in general finance programs. Candidates with a first or upper second Class honors degree (or international equivalent) from a recognized university in a highly quantitative subject such as economics, mathematics, statistics, engineering, computation, science, or management pursuing a successful career in finance are the main target of this program. Work experience is not essential, but you are strongly recommended to undertake relevant internships and to share your expertise in class.

Graduates are typically employed in investment banking, asset management, hedge funds and investment advisory, risk management, sales and trading, hedge funds, financial engineering, financial technology, and consulting/advisory.

Goals

This Postgraduate program has as specific objectives the training of professionals in the financial sector:

  • Developing Data-Driven pricing & risk management models of both plain vanilla and exotic financial securities that compete with traditional model-based approaches;

  • The development of Data-Driven models that explain the dynamics of financial asset prices;

  • The implementation and validation of data models, machine learning and deep learning methods in finance;

  • Understanding the potential transformations in the financial industry resulting from the adoption of blockchain technology to Fintech & InsurTech;

  • The acquisition and development of skills in the most popular programming languages in the financial industry (R, Python);

  • The development of Predictive Analysis and Trading models, Sentiment Analysis, Financial Fraud Detection techniques, Credit Rating models, Insurance pricing models, Customer Segmentation methods.

Study plan

To earn the postgraduate program diploma, it is required to complete 60 ECTS, corresponding to 13 course units:

1st  Trimester

Course Units Hours ECTS
Computational Finance 28 7,5
Asset Pricing & Portfolio Management 28 7,5
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2nd  Trimester

Course Units Hours ECTS
Fixed Income Securities 28 7,5
Machine Learning in Finance 28 7,5
Text Mining 14 4
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3rd  Trimester

Course Units Hours ECTS
Deep Learning Methods in Finance 14 3,5
Credit Risk Scoring 14 4
Decentralized Finance (DeFi) & CryptoAssets 28 7,5
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4th  Trimester

Course Units Hours ECTS
Algorithmic Trading & Market Microstructure 14 4
Financial Derivatives & Risk Management 28 7,5
Insurance Data Science 14 3,5
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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 the 2nd best in the World by Eduniversal - international agency that publishes an annual ranking of the best MBA and Master's degrees in the world.

Faculty

Length, timetable and exams

Length

This Postgraduate Program lasts 4 trimesters. The classes will start in September 2024, ending in June 2025, running after working hours (after 6:30 p.m.), 2 to 3 times a week.

Timetable

See here the timetable for academic year 2023-24.

The schedule for the 2024-25 academic year will be published in May 2024.

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.

3rd  Applications phase

From April 9th to May 7th, 2024.

Entry requirements

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

  • Hold a bachelor’s degree in a compatible field (completed by September 2024);
  • Be proficient in English (spoken and written).

How to apply and selection process

To complete the application, the applicant must register in NOVA IMS' Applications Portal, fill the form, upload their Curriculum Vitae, choose the program and pay the application fee in the Portal.

The selection process is based on the analysis of 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.

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.

Registration fee

After being admitted to the program and upon confirmation of enrollment (around one week after the admission result announcement), the applicant must make a payment of a pre-registration fee, 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.

Upon registration, the 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

The tuition fee of this postgraduate program is €5.100. The tuition fee of this postgraduate program includes all handouts and teaching materials used in class as well as the coffee breaks on the days of classes.

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, 2024.
  • Payment in four installments:
    • September 25th to 30th, 2024 (25% of the tuition fee);
    • November 25th to 30th, 2024 (25% of the tuition fee);
    • February 22nd to 28th, 2025 (25% of the tuition fee);
    • April 25th to 30th, 2025 (25% of the 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.
  • NOVA IMS' Alumni (Undergraduate, Postgraduate, Master Degree and Doctoral Programs) from a different program of the one they will attend have a 20% 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.

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

  • 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 2024-25. 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 2024, 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 2024.

    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 Zoom.

    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.

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I embarked on my academic journey in the Master's Program in Statistics and Information Management, with a specialization in Risk Analysis and Management, after completing a postgraduate program in Data Science for Finance at NOVA IMS. Both programs emphasize the importance of hands-on experience through team projects. Not only did I develop the skills to work with data, but they also instilled in me the ability to manage my time effectively, balancing the demands of full-time job while advancing my education. A standout aspect of the program for me is the master's thesis, where I enjoyed the autonomy to choose my own research topic while embracing the responsibility of managing my progress. The academic environment encourages the pursuit of excellence, exemplified by the emphasis on publishing research in top journals.
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The Postgraduate Program in Data Science for Finance was a unique experience that allowed me to learn, with a highly practical component, how to integrate, analyze, and extract information from data—the oil of the 21st century—in the context of markets and financial assets. I highly recommend it to anyone looking to complement their foundational education in Financial Markets, given the growing importance of algorithms and machine learning techniques/methods in the decision-making process of buying and selling financial assets.
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The Postgraduate Program in Data Science for Finance is a life-changing experience, brilliantly designed to transform individuals with no prior data background into market-ready professionals. The curriculum seamlessly integrates fundamental financial concepts with practical data analysis, ensuring a deep understanding of both. Under the guidance of NOVA IMS faculty, this program not only offers cutting-edge knowledge in finance, insurance, and risk management but also empowers students with the skills needed to excel in the dynamic world of financial data science. It's an invaluable journey for those aspiring to make a significant impact in the field, and I would highly recommend this experience to anyone with an interest in Data Science applied to Finance.
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The Postgraduate Program in Data Science for Finance is well organized and innovative, covering a wide variety of topics related to real life applications in finance. The program has a very practical approach, providing the necessary components to further enhance and develop new data analytical skills using the latest generation methodologies while also allowing students to stay up to date with the latest advancements in finance, risk management and financial engineering.
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Endowed with a faculty of excellence, the Postgraduate Program in Data Science for Finance perfectly combines theoretical financial knowledge and the practice of data analysis, offering an experience very close to the work reality