The internship programme allows students to acquire on-the-job training with the participating companies. Internships provide valuable opportunities for students to gain exposure to the professional environment, outside the classroom. QFRM students who graduated in 2013-14 on average completed 3.1 internships prior to graduation. Over 87% have done at least one internship in a finance-related institution. The internship possibilities can lead to excellent career opportunities. Previous and existing internship partners:
Studying the QFRM programme at CUHK has been the most rewarding and fruitful journey of my life. There are so many opportunities in this programme, which can pave the best way for personal and career development. I didn’t take economics or accounting electives in high school, but here you study, work and compete with the most talented students, and that motivates you to grow. I was glad to join UBS as their operations intern during my penultimate year because I met many great mentors there and explored how investment banking works. With support from both the business and science schools, I will go on to work as a graduate trader for the China International Capital Corporation.
My internship at PWC gave me the chance to put into practice everything I had learnt from the QFRM syllabus. During the 4-month internship, I acquired even more knowledge, not only from the tasks I was assigned, but also from my manager and my colleagues. Consulting services start in the office with peers. Outside the company, it is called consulting, but within the walls of PwC, it is called communication and collaboration – the two most important components to working with others and the most precious skills I took away from this internship.
Ernst & Young
I joined EY as an intern in the financial risk advisory department. I participated in a project related to interest rate risk in the banking book, which was tasked with helping a client develop statistical behavioural models using the SAS platform to estimate parameters such as the monthly prepayment rate and early withdrawal rate. I was assigned to handle a variety of tasks. For example, I assisted in model development learning on the SAS platform and VBA programming. I had the opportunity to pitch our models to our client, which improved my presentation skills. In short, I think the internship experience at EY was very good.
Hong Kong Monetary Authority
QFRM is highly regarded in the banking and finance industry. The education and support that I received from QFRM helped me to secure a summer internship in the Hong Kong Monetary Authority (HKMA) Banking Supervision Department. This internship offered me the opportunity to learn more about the supervisory policies of HKMA and the Basel Standards, a global regulatory framework for banks. I also researched stress-testing scenarios used by foreign regulators and IFRS9 (International Financial Reporting Standard 9) practices used in the industry. QFRM provided me with quantitative training that enabled me to understand complex credit risk modelling. This deeper understanding of the industry practices in risk management has surely helped to pave the way for my career in risk management.
Citi Global Markets
The 10-week internship in Citi Global Markets was an extremely fruitful experience for me. With the two rotations at different desks (Electronic Execution and the Delta One trading desk), I not only gained diverse knowledge regarding different asset classes and market situations, but also developed relationships with other interns, colleagues and mentors that are important for my future career. The QFRM programme helped me to build up a solid foundation in statistics, mathematics and business that allowed me to successfully handle the price impact modelling project during my first rotation. In addition, the programme’s strong alumni network helped me to expand my contacts at Citi in a much more efficient way.
Citi Private Bank
The exposure provided to me by both the Faculties of Business and Science has been unique and invaluable. QFRM equipped me with solid analytical and interpersonal skills, both of which are equally important in the private banking industry. During my internship, the combination of courses in finance and risk management laid a good foundation for me to study the market movements and reactions that affect clients’ portfolio performance. I believe that QFRM students receive a distinctive advantage in the workplace by gaining a well-rounded mindset.
I joined Goldman Sachs as a controllers intern in the finance division. We work closely with the firm’s businesses to ensure that our profitability is accurately measured and reported, whether the reports are for internal management or external investors. My training in QFRM prepared me to understand the basic business aspects of the firm’s products and to make sense of the increasingly sophisticated measures applied to safeguard the firm and mitigate risks on our capital. My supervisors gave me the best advice I’ve ever received, namely to connect with lots of people and be prepared to ask the right questions.
Ernst & Yong and Hong Kong Monetary Authority
It is gratifying to be a member of the QFRM family and to participate in this fast-moving, competitive industry.
The previous summer, I worked with Ernst & Young Risk Advisory. Although I felt very nervous before starting this first internship, my supervisor, Wilson, was very friendly and provided a lot of support. As a fellow graduate of QFRM, he gave me a great deal of advice regarding my future development. Therefore, although the statistical work involved was new to me, I was able to quickly learn the skills involved and build on the solid training I had received before.
This summer, I am working with HKMA Economic Research. Coincidentally, my supervisor, Simon, is a graduate of RM. With his guidance, I am exploring the challenging world of econometrics, which requires strong economic sense and quantitative skills. This will be a highly useful experience for me in the future.
I spent a year working with the Stock Flow Option Trading Team at BNP Paribas, where I shared in a wide variety of tasks to support daily trading activities. For example, we had to monitor our positions and hedges according to market environments, check and remark parameters for option pricing to catch market sentiment and back-test trading strategies. The QFRM programme provided me with comprehensive training in a range of areas including finance, mathematics, statistics, risk management and computer science. These skills allow interns like myself to navigate the financial markets with strong problem-solving skills.
Interning in CASH Algo would be a thrilling experience for anyone who is interested in algorithm trading. As an intern, I was responsible for researching and developing profitable trading algorithms, and I assisted in updating and maintaining the risk management system.
My duties challenged my knowledge of financial products and risk management, my abilities to conduct quantitative analysis and my information technology skills like computer programming. These are all things that would be learned and researched by a QFRM student.
Facing an era in which quantitative methods and technologies have become increasingly significant in finance and risk management, I believe that QFRM is not only a programme that teaches but also a torch that shows the way, leading to the future of this industry.
JPMorgan and Jane Street
Being a trader has always seemed like a desirable job to many people, including me. I am grateful for having had a chance to work at JPMorgan as a Global Markets Intern doing equities facilitation trading, which aims to provide liquidity for hedge fund clients to trade in bigger lots. I also had the chance to intern for Jane Street as its Quantitative Trading Intern and to seek trading opportunities through mathematical models. The experiences I gained from these two internships were quite different, but having a solid foundation in finance and statistics knowledge helped me a lot to nail these opportunities. QFRM was exactly the programme to equip me with the relevant skill sets I need and direct me into the industry.
Hong Kong Monetary Authority
The QFRM programme was of great help to me, and equipped me with solid financial and statistical knowledge. It also enabled me to develop other skills such as programming, which I found really useful during my internship experience.
Thanks to the career support from the QFRM major, I am now working for the Hong Kong Monetary Authority in the Market Research Division. As an intern, I am responsible for conducting research on Hong Kong’s financial market and writing up programmes to facilitate the research of other seniors. This has definitely been a great chance for me, and has helped me gain more practical knowledge of the market.
Eurex Frankfurt AG & HSBC
QFRM equipped me with both qualitative and quantitative financial knowledge, which helped me a great deal in gaining new opportunities and finding internships, and allowed me to apply my quantitative knowledge. I worked at Eurex Frankfurt AG, Deusche Borse Group, in Frankfurt as a sales intern for half a year. I was required to conduct research on the structures and market dynamics of derivatives to explore capital market opportunities in Asia. Now I am starting a new chapter in my life as a trading analyst at HSBC. Through QFRM, I was able to utilise my derivative knowledge and quantitative modelling skills to understand the structured FX products and price structured derivatives. Working in such a fast-paced financial market definitely honed both my problem-solving and communication skills.
State Street Global Markets
I spent most of my time learning about FX trading and Macro Strategy when I underwent my 6-month internship at State Street Global Markets, an internship that granted me exposure to the real world of business. This was a lot different than a summer internship in which hypothetical case studies are assigned; instead, I was actually assisting the traders in building monitoring tools to help them trade. The financial knowledge and the quantitative skills I gained from QFRM certainly equipped me to excel in these duties. I believe this is the edge that the QFRM student enjoys: you have the flexibility to get exposure to both sides, and this has proven to be extremely beneficial.
Western Asset, California, USA
This summer I worked as a summer intern in the risk management department of Western Asset Management Company in California. My responsibilities were to provide research and analysis to assess portfolio security and to determine trade allocation parameters. The coursework in QFRM provided a very solid foundation for me in this internship, including programming skills and a good understanding of the financial market. Without QFRM’s powerful career service, I would never have gotten this internship in the first place. From this summer internship, I was able to figure out my interest in quantitative research and the next direction of my future path.
Commerz Bank and Bank of America Merrill Lynch
The days I have spent in the QFRM programme have been hugely rewarding. The breadth and depth of the curriculum have allowed me to develop a solid foundation and suitable skill sets needed for my future career.
I was previously employed by Commerzbank AG as an intern on the DCM Loans Team. My main responsibilities were to conduct market research in the APAC region and facilitate my team along the loan syndication process.
Moving on, I will spend my summer at the Bank of America Merrill Lynch with the Wholesale Credit Team. Thanks to the QFRM programme, I was able to apply my knowledge and understand the statistical methodology of credit assessment and the hedging strategies our bank provides to our corporate and FI clients.
Having an educational internship in the PricewaterhouseCoopers Risk Consulting Team, I got the opportunity to help clients in identifying, understanding and managing risk. I conducted valuations on various types of financial instruments, such as interest rate derivatives, credit derivatives, FX/equity options and other hybrid structured products. Indeed, the QFRM programme provides a well-grounded preparation for such technical skills. Besides, I also performed portfolio stress testing and analysed market/liquidity risk through internal comprehensive statistical models. Although the learning curve in this internship is really steep, I could get help from my manager and colleagues at any time. I very much enjoyed the supportive atmosphere there.
For me, spending time at the Hong Kong Exchanges and Clearing Limited (HKEx) as a summer intern was a real eye-opener. The practical experience I gained, such as handling client communications, providing administrative support for the listing ceremonies and visiting the Qianhai Mercantile Exchange, gave me a good overview of many different roles in finance. I was able to apply my finance knowledge and skills towards my projects at HKEx, and thus gained a much better understanding of market operations. I was also able to gain valuable insights into financial markets through attending seminars and presentations conducted by the management committee of the company. This internship was a great experience, giving me exposure across vertical markets, and the opportunity has strengthened my enthusiasm for pursuing a finance career.
Bank of America Merrill Lynch
Looking back now, choosing QFRM was a wise decision. This programme offers the unique advantage of bringing qualitative and quantitative knowledge together and lends us full support for career development.
I worked as a gap-year intern with the China Economics Team at Bank of America Merrill Lynch in 2016-17. My duties were to assist in day-to-day research, including but not limited to model development, data comments, policy comments, etc. It was truly an insightful experience that not only showed me what a day was like as a sell-side researcher, but also empowered me with practical knowledge that was not taught in depth in class.
QFRM has been hugely rewarding and resourceful for my academic, career and professional development through its solid training and support, which were well positioned to help me secure a semester internship at Morgan Stanley.
I was an off-cycle semester intern at both the Corporate Derivative Trading Desk and the Exotic Derivative Trading Desk within the Institutional Equities Division of Morgan Stanley. Every day was dynamic and full of challenges due to the dynamic market and highly sophisticated aspects of each trading desk. Thanks to the quantitative and financial training of the QFRM programme, I was able to handle the steep learning curve and understand the complex derivative structures, pricing models and risk profiles of each of the structures.
It was a wise decision to take the QFRM programme.
With full support from the programme, I joined the Mergers & Acquisitions team at J.P. Morgan as a semester intern. During the 15-week period, I worked on in-depth company and industry research, financial analyses and models and client pitches. I really enjoyed the huge responsibility when developing meaningful solutions for clients or executing significant transactions.
In QFRM, you will have support from both the Science Faculty and Business Faculty, you will meet groups of competent and passionate classmates you will get all-round financial and risk management training.