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The financial industry has been relying on experts from various fields, e.g Statistics, Mathematics and Engineering in order to acquire necessary technical expertise to solve a specific problem. Generally, however, it has been recognized that people are much more trained to solve financial problems if they have additional knowledge in finance and economics enabling them understand the role of financial instruments within the broader economic and business context.
Financial companies are calling on experts in the area of risk identification, risk modeling and mitigation to help them respond to increased regulation and public pressure to manage financial risk. Further, the industry expects future employees to be able to understand financial theory, to develop dynamic models and innovative products including programming their own developments.
The advancement of the capital market such as the digitization of the Nairobi stock exchange and plans to introduce derivatives such as options, futures and forwards will also require integrated knowledge in Statistics, Mathematics, Finance and economics.
It is with the foregoing reasons that the University top management challenged the Department of Statistics and Actuarial Sciences to come up with an integrated undergraduate programme that would enable a graduate to solve a financial/risk problem holistically. Thus, JKUAT has now embarked on the training of manpower in Financial Engineering.
The program will prepare a student for a career as a Financial Engineer, concerned with the construction of models and application of financial theory and instruments in formulating solutions to financial problems as well as exploring financial opportunities. Students will use statistical methods to identify, quantify and develop various strategies to mitigate against financial risks.
They will also study topics in areas of economics, marketing, mathematics of investment and finance, risk management, insurance and accounting. The program is interdisciplinary and the knowledge and skills developed by students are applicable in many business settings.
The program will take a total of nine semesters.
Courses: A student will be required to take 12 required units in each year. In addition, each student will be required to take 3 University units and 1 faculty unit in the first year of study.
In any year of study, a student may also be required to take one or more compulsory additional units. Each student will also be required to undertake practical attachment for a period of not less than 8 weeks after the end of the eighth semester.
One unit is defined as a series of 35 one lecture hours with a three hour practical period and a two hours class lecture period being equivalent to a three hours lecture.
KCSE C+ (plus), or an equivalent qualifications from institution(s) recognized by University Senate. In addition, applicants must meet specific minimum requirements in respective subjects as per Faculty / School/Institute/Departmental requirements.
NB: Diploma holders with Credit Pass and above in relevant subjects, qualify for entry into second year of study while those with Higher National Diploma in relevant subjects qualify for entry into third year of study.
How to Apply
Application Requirements for qualified students:
– A dully filled registration form – to be obtained from the offices/website upon payment of non-refundable fee.
– Two passport size photos.
– Copies of relevant certificates
Applications for the courses are on official application forms.
1. click to download JKUAT IT Department application form. or obtain a hand-copy from the office.
2. Pay a non-refundable application fee as follows:
– Certificates: Kshs500
– Diplomas: 1000
– Degrees: Kshs1,500
– Masters: 1,500
Bank Account Numbers:
– Standard Chartered Bank Account number 0108023434900
– Barclays Bank Account Number 0775001216
– Co-operative Bank of Kenya Account Number 01129098952900
– National Bank Account Number 0100359580600
– Equity Bank Account Number 0090291251426
Graduates are expected to find employment in:
– investment firms,
– commercial banking,
– employee benefits,
– investment management,
– Risk management areas,
– management consulting.
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Tuition Fees for Kenyan Students = Kshs180,000
Tuition Fees for International Students = Kshs216,000
**EAC (East African Community) Students pay the same amount as Kenyan students. Countries in the East African Community include; Burundi, Kenya, Rwanda, South Sudan, Tanzania, and Uganda.
NOTE: The tuition fees charged, may vary from programme to programme and from time to time, with foreign students paying 20% more that the Kenyan students.: