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Master of Science in Risk and Asset Management

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Testimonial: Wenyi Yin - MSc RAM 2005-2006

Published on January 3, 2007

As I have always wanted to study and work in Europe, I came to France three years ago to Grenoble to study for a Bachelor's degree in International Business. My abilities in quantitative analysis combined with an interest in Accounting, Economics, Corporate Finance and Quantitative Finance, motivated me to become a financial specialist.

In order to make my dream come true, I enrolled in the MSc in Risk and Asset Management programme at EDHEC Business School as I had heard of its outstanding reputation in this field.

The choice of my MSc programme was definitely an important one for my career. Today almost everybody has a Bachelor's degree and many have a Master's degree so it was important for me to do not just any Master, but one that would provide me with a prestigious diploma that would help me find a good job.

 EDHEC's excellent reputation and its triple crown accreditation justified my choice.

 The high quality instruction in the Master degree programmes and brilliant performance of graduate students differentiate EDHEC from other French business schools. Another distinctive feature of EDHEC Business School is its unique Risk and Asset Management Research Centre, which is composed of internationally renowned experts in corresponding fields and is consistent with my business ambition.  For all these reasons, EDHEC was a natural choice and I was delighted that I was able to pursue my education at EDHEC Business School with a merit-based scholarship awarded by the EDHEC Foundation.  

Theoretically, the MSc in Risk and Asset Management programme gave me a forthright view on the asset pricing models, such as CAPM and APT, and Efficient Market Hypothesis with an associated event study. The programme also included equity investment lectures that focused on the corporate finance subjects regarding cash flow analysis, dividend discount model, earnings multiplier model, and financial leverage.

Quantitatively, we got a profound understanding of Nobel prize-winning Black & Scholes option pricing model, Binomial pricing model, the Greeks and the Monte Carlo Simulation which were all developed through introduction of probability and statistics, correlation analysis, linear regression, hypothesis testing, and mean-variance analysis.  

Practically, the programme contained an introduction to the practice of trading and market making by combining an analytical approach of market dynamics with practical implementation in the real-life environment of the EDHEC Fininfo dealing room. The major trading strategies on foreign exchange, equity, fixed income and derivatives markets were presented, analyzed and implemented.   Fixed income lectures offered insights into different bond portfolio strategies and illustrated how various types of derivative securities can be used to shift the risks associated with investing in fixed-income securities.

Thanks to the expertise developed at the EDHEC Risk and Asset Management Research Centre, our Asset Management lectures clarified the technical challenges involved in portfolio optimisation with specific emphasis on the need for enhanced estimates of risk and expected returns, by reviewing various quantitative methods used in the optimal management of alphas, including a detailed presentation of portfolio style and performance analysis.  

Prominent academic industrial speakers were invited to present topics such as hedge fund interpretation, multi-style asset allocation, performance and style analysis, index construction and benchmarking, asset allocation and extreme risks, use of derivative instruments in active and passive portfolio construction, application of behavioural finance and tactical allocation.

I'm glad the programme was in Nice, a beautiful city by the sea where the cost of living is lower than some other major European cities.  As I was living in France, I had plenty of opportunities to improve my language skills through the French language classes provided by the school and daily communication with French native speakers inside and outside the campus.  Before coming to EDHEC I already had 8 months professional experience in Finance while working for China Everbright Bank (Chinese commercial bank) in the Loan and Credit Department.  

Today, I am doing my internship at Riskdata in Paris, as a Product Specialist, a position I got after having attended a course at EDHEC given by Mr. Olivier Le Marois, CEO of Riskdata, as one seminar in module Advanced Topics in Risk and Asset Management. Riskdata.  

In fact, this job offer was pre-determined to be given to EDHEC students either from MSc RAM or MSc Finance We did a phone interview with HR manager to measure the applicants' level of oral English  and knowledge of French was not at all necessary. This was followed by a Self-introduction & Internship proposal PowerPoint file to test our script written skills. Among 15 applicants, 7 were selected for a face-to-face interview with Mr. Le Marois; then 4 out of 7 were taken to the next procedure to fulfil an Excel-based questionnaire, about VaR and portfolio management; finally I got the six-month internship.

However, the first three months of the internship is just the observation period, the employment decision is made by the whole team, given that my performance must simultaneously satisfy my boss, colleagues, and clients. The company has sponsored me to launch a France work-permit application, which will be judged by the French government.  

Riskdata is an organisation that is dedicated to servicing the Global Asset Management and Hedge Funds communities with dynamic solutions designed to address the Risk Management, Portfolio and Hedge Construction requirements of the industry. Here, I am working on cutting-edge quantitative solutions, gaining hands-on experience by working closely with senior academics and professionals, and will move into senior role in future career path.  

My internship can be considered as an unbroken continuity of my Master speciality. My long-term goal is to become a successful Business Executive in the field of Finance, such as Fund Manager, Security Analyst, Futures Trader or Risk Manager and I believe my EDHEC diploma and experience gained at Riskdata will allow me to be a qualified risk professional in the upcoming years.  


Written by NIKKI HARLE
Date of update June 13, 2008

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  • Testimonial: Wenyi Yin - MSc RAM 2005-2006

    As I have always wanted to study and work in Europe, I came to France three years ago to Grenoble to study for a Bachelor's degree in International Business. My abilities in quantitative analysis combined with an interest in Accounting, Economics, Corporate Finance and Quantitative Finance, motivated me to become a financial specialist. Read next page

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