Boyan Karkovski

Country of origin: Bulgaria

Assistant Manager (Market & Liquidity Risk), Lloyds Banking Group

Before coming to Lancaster University to do an Quantitative Finance MSc, I studied for five years at Adelphi University, New York. I completed a four-year BSc Finance and an MBA with specialisation in Finance programmes. Although those two degrees helped me to gain a foundational understanding in Finance, they did not provide the in-depth and fundamental knowledge that I was looking for.

The MSc Quantitative Finance programme at Lancaster University Management School was an attractive next step in my education. The programme exposed me to derivative pricing methods, risk analysis, statistics, programming, forecasting, etc – all of which are critical for a career as a quantitative analyst, risk analyst, financial valuation analyst, and any other technical position in the financial industry. I improved my numerical, analytical, and critical-thinking skills.

Although my background in mathematics, statistics, and calculus was not on the level of the other students, I caught up thanks to the excellent preparation tools provided at the beginning of the degree, together with the help from the lecturers who are always ready to help. My dissertation supervisor – Kim Kaivanto, was outstanding at recommending reading material, and suggestions as to what I should research further into. He also organised a presentation of my findings to Barclays’ Head of Behavioural and Quantitative Investment Philosophy, which was an excellent addition to my CV.

I am now waiting to start work at Lloyds TSB as part of the Market and Liquidity risk team. I will be applying there what I learned at Lancaster University Management School – modelling value at risk, stress testing and net interest income sensitivity. Even if your future career choice is not aimed at going into the financial industry, the skills you will learn here are valuable in any other technical position in another industry.

At times during the programme you may feel stressed from the amount of material coming in, but if I can graduate, so can anyone else that is considering this programme!