Introduction to NISM and SSE

1. About NISM ...........................................................................................

2. About SSE .............................................................................................

3. Institute's Philosophy .............................................................................

4. Board of Governors .................................................................................

5. Academic Council ...................................................................................

The CFERM Programme

1. Why CFERM? ..........................................................................................

2. Why should organizations encourage CFERM? .............................................

3. What does CFERM offer? ..........................................................................

4. How is CFERM unique? ............................................................................

5. Programme Format .................................................................................

6. Programme Design: Context, Content and Sequencing ................................

7. Evaluation and Award of Certificate .........................................................

Eligibility Criteria and Admission Procedure

1. Eligibility Criteria ....................................................................................

2. Admission Process ...................................................................................

3. Prospectus and Application Form ..............................................................

4. Last Date for receiving duly filled in applications .......................................

5. Important Dates ......................................................................................

6. Fees and Deposits ...................................................................................

7. Enquiries

8. Force Majeure

Team NISM

1. Patrons of CFERM ..................................................................................

2.

3. Visiting Faculty

Full-time/Adjunct Faculty ....................................................................

..........................................................................................

1

2

3

4

ContentsCFERM: 2013-14

121316

01

CFERM 2011-12Graduates, 03

CFERM ProgrammeInstitute's Philosophy

Vision

Mission

NISM's activities are dedicated towards enhancing the quality of participation in securities markets. This involves development of knowledge and skill base of all stakeholders. The Institute's philosophy embodies the spirit of commitment to these objectives.

To lead, catalyze and deliver educational initiatives to enhance the quality of securities markets.

To engage in capacity building among stakeholders in the securities markets through financial literacy, professional education, certification, enhancing governance standards and fostering policy research.

Close interface with policy makers, regulators and industry participantsContinuous knowledge creation, acquisition and disseminationCollaboration with the larger educational and market infrastructure to reach constituencies relevant to the securities markets

BeliefNISM envisions a catalytic role in promoting securities markets research and education, through:

Mr. U. K. SinhaChairman, SEBI (Chairman, Board of Governors)

Mr. Rajeev Kumar AgarwalWhole Time Member, SEBI

Mr. Prashant SaranWhole Time Member, SEBI Mr. Anup WadhawanJoint Secretary (Capital Markets),Department of Economic Affairs,Ministry of Finance, New Delhi

Mr. P. K. NagpalExecutive Director-SEBI

Mr. Uday KotakVice Chairman & Managing Director, Kotak Mahindra Bank Ltd.

Ms. Chanda KochharManaging Director & Chief Executive Officer, ICICI Bank

Mr. R. M. MallaChairman & Managing Director, IDBI Bank Ltd.

Dr. Anil KhandelwalFormer Chairman of Bank of Baroda Mr. M. S. SahooAdvocate

Board of GovernorsAs on March 5, 2013

Dr. Pritam SinghDirector General, International Management Institute (IMI), New Delhi

Prof. R. VaidyanathanProfessor of FinanceIndian Institute of Management, Bangalore

Dr. Sanjay KallapurSenior - Associate Dean, Faculty and Research, Indian School of Business, Hyderabad

Professor, National Institute of Public Finance and Policy, New Delhi

Mr. Sandip GhoseDirector, NISM

Dr. Ajay Shah

Mr. G. P. GargRegistrar, NISM

02

CFERM is an executive programme leading to the Certificate in Financial Engineering and Risk Management. It has been designed for working professionals who wish to hone their skills in treasury and risk management functions. The CFERM programme will be offered by NISM at Vashi. Taking into account of the success of first three batches, NISM announces 5th batch of CFERM: 2013-14.

What does CFERM offer?

The level of sophistication and complexity of the subject merits a classroom-based programme. Through the CFERM programme, NISM aims to provide the financial markets with a cadre of professionals well-versed in skills as well as knowledge of financial engineering and risk management.

Why CFERM?

The CFERM programme addresses the needs of aspiring finance professionals to further their career in the field of financial engineering and risk management. It opens up career options in the financial sector in India and abroad. On successful completion of the programme, candidates would have acquired the knowledge to:

• Design and understand new financial products and financial solutions• Manage the treasury more effectively• Implement financial solutions for banks, corporate and other entities in the financial sector• Assess and evaluate various financial engineering and risk management solutions offered by vendors•Address the risk management issues at strategic and operational levels of an organization

Why should organizations encourage CFERM?

In the modern world, organizations seek to effectively utilize financial resources to meet business requirements. Financial engineering offers customized financial solutions towards this. Further, risk management in organizations has become a core strategic function today. Therefore, it has become necessary that an organization has a team of financial engineering and risk management professionals to discharge, oversee and guide this pivotal responsibility.

CFERM offers an in-depth understanding from the point of view of sellers, buyers, analysts and regulators as opposed to the current 'black-box' approach. The CFERM programme will result in a win-win situation for professionals engaged in treasury and risk management functions and their employers in:

Banks

PMS

Mutual Funds

Insurance Companies

Pension Funds

Private Equity Companies

Hedge Funds

Investment Banks

Stock Broking firms

Firms that trade in Commodities, Currencies and other Instruments

Credit Rating Agencies

Securities Research firms

IT & ITES, KPO firms engaged in Analytics, Quantitative Research and Business Solutions

Approximately 300 hours of classroom sessions

A team of highly qualified and experienced faculty members delivering the modules

A combination of theory and practice (two modules: Basic and Advanced)

A combination of mathematics, statistics, financial economics, computational finance, financial modelling and risk management

Experienced industry professionals sharing their knowledge with participants

Continuous evaluation that motivates participants to deliver their best

Multiple pedagogy consisting of interactive classroom sessions, simulations, case discussions, project work, and seminars

The latest developments in the field brought into the classroom

A peer group of students with whom one can interact and learn by sharing experiences

The CFERM programmeoffers:

Programme Format:

Format A: Weekend programme at Vashi.

Format B: Residential programme at Vashi.

CFERM programme is offered in two different Formats (A and B) to enable minimal disruption of work schedules for professionals working anywhere in India.

Total Duration: Approximately 300 Hours

Participants are required to attend 9 hours of classroom sessions during each weekend (i.e. Saturdays and Sundays) for a period of 1 year. This format is suitable for participants who prefer to attend classes during weekends and those who reside/work in and around Mumbai/ Pune/Surat.

Location: National Institute of Securities Markets, Vashi, Navi Mumbai

Under this format, the programme will be offered in four modules. Each module would have a duration of nine days starting from a Saturday to the Sunday of the next week. In all, a participant would have to take a total leave of 20 days from office during the year i.e. five days (Monday – Friday) in each quarter of the year. A time table of classroom sessions is provided below. Residential accommodation can be provided, subject to availability, at NISM Niwas, Vashi at a nominal cost. This format allows enrolment for out-station participants interested in the programme. This format is suitable for those who reside/work anywhere in India.

Location: National Institute of Securities Markets, Vashi, Navi Mumbai

Convenient class timings to suit the needs of working executives

Rigorous and well-designed curriculum with emphasis on class participation

A team of best-in-class faculty

Access to state-of-the-art library and computing facilities with latest software such as R, SAS and financial databases such as Bloomberg and others for financial modelling and simulation

Reinforcement of concepts through case studies

Relevant examples and case studies from the Indian scenario

How is CFERM unique?

0504

S M T W T F S

39

1 2

3 4 5 6 7 8

10 11 12 13 14 15 16

17 18 19 21 22 23

24 25 26 27 28

9

20

30

S M T W T F S

29

1 2 3 4

5 6 7 8 10 11

12 13 14 15 16 17 18

19 21 22 23 24 25

26 27 28

9

20

30 31

S M T W T F S

30 31 29

1 2 3 4 5

6 7 8 10 11 12

13 14 15 16 17 18 19

21 22 23 24 25 26

27 28

9

20

Module 2 Module 3 Module 4

November 2013 January 2014 April 2014

The programme delivery will include classroom sessions, projects and group work. The candidates will have access to library and other computing facilities such as R, SAS and financial databases such as Bloomberg and others for financial modelling and simulation.

Programme Design: Context, Content and SequencingThe CFERM programme comprises of two modules: Basic and Advanced. The Basic module aims at preparing the participant to acquire the necessary knowledge in Mathematics and Statistics to understand and appreciate financial engineering models/products. The Advanced module covers application and practical phases of the Certificate in Financial Engineering and Risk Management programme.

#

S M T W T F S

1 2 3 4 5 6

7 8 10 11 12 13

14 15 16 17 18 19

21 22 23 24 25 26 27

28 29 30 31

9

20

S M T W T F S

1 2 3 4 5 6 7

8 9 11 12 13 14

15 16 17 18 19 20

22 23 24 25 26 27 28

29 30

10

21

S M T W T F S

29

1 2 3 4 5

6 7 8 10 11 12

13 14 15 16 17 18 19

21 22 23 24 25 26

27 28

9

20

30 31

Basic Module Exam forFormat A & B

Module 1 Module 2

July 2013 September 2013 October 2013

Annual Calendar of classes in Format B would be as follows. The classes will take place on the highlighted

dates

*Some Modules my be extended to 2 or 3 days more.

Format A : Classroom sessions spread over weekends during October 2013 to March 2014Format B : Classroom sessions during October 09 - November 26, 2013; January 18 - January 26, 2014, andApril 12 - April 20, 2014. (both days inclusive)

Financial Economics 25 hrsFixed Income Securities 20 hrsFinancial Derivatives 30 hrsRisk Management - I (Basics) 30 hrs Risk Management - II (Advanced) 30 hrsApplied Financial Econometrics 30 hrsComputational Finance 30 hrsFinancial Engineering - Applications 30 hrsProject Dissertation, Seminar/Workshop on contemporary FE issues 24 hrs

Advanced Module

Format A : Classroom sessions spread over weekends from July 20 to September 22, 2013Format B : Classroom sessions from July 20 to July 28, 2013

Mathematics for Quantitative Financial Risk Management......................... 30 hrsStatistics for Quantitative Financial Risk Management.............................. 33 hrs

Only those who succeed in the Basic Module written exam would qualify for the Advanced Module of CFERM. Tentative date of written exam is September 29, 2013.

Basic Module

NISM reserves the right to add, modify, merge or delete any of the above mentioned programme calendar/ courses/topics for overall benefit of the programme and to keep it contemporary. Evaluation for all subjects include class tests, surprise quizzes, practical exercises, assignments, mid-term exam and final exam. The actual implementation of any of the two formats depends on the minimum number of participants enrolled for it. In case there are not enough participants for a particular format, it will be merged with the format that has the required number for participants.

All participants are required to get their personal laptops for the programme.

#

0706

Award of Certificate

1. Certificate will be awarded only to those students who successfully clear the Basic and Advanced Module examinations and meet the criteria laid down by the board of examiners.

2. In order to be admitted to the Advanced Module, students are required to clear the Basic Module exam with a minimum of 50%. Candidates who are unable to clear the Basic Module exam are permitted to reappear once, in the next academic session. No extra fee will be charged for this exam. Candidates who do not clear the Basic Module exam in the second attempt will not be admitted to the Advanced Module. Such candidates shall receive a participation certificate for the Basic Module if they meet the specified attendance criteria.

Evaluation

CFERM students will be evaluated on the following:

• Pre-class preparation

• Class participation

• Quizzes

• Assignments/practical exercises

• Mid-term and end-term examinations and/or any other

procedure the Institute may prescribe from time to time.

Evaluation and Award of

Certificate

Eligibility Criteria and Admission Procedure

Eligibility Criteria

The following academic qualifications and work

experience are required:

Academic QualificationsGraduate from any recognized Indian university or equivalent

Work ExperiencePreference will be given to candidates having work experience

Candidates will be shortlisted for interviews on the basis of academic qualification and work experience.

Admission Process

1. All applications received will be scrutinized and only shortlisted candidates will be called for personal interviews. Candidates who are shortlisted will be intimated through email and/or the Institute's website on June 12, 2013.

2. The personal interviews will be held at Mumbai/Navi Mumbai during June 22-23, 2013. The exact timing will be intimated in the communication sent to each candidate appearing for the personal interview.

3. After the personal interview, first list and second list of candidates selected for admission to the Basic Module will be announced on the NISM website. The respective candidates will also be informed through email/letter.• First list will be displayed on June 27, 2013• Second list will be displayed on July 03, 2013

4. NISM reserves the right to postpone or cancel the date of personal interview/s. Candidates are advised to visit the Institute's website from time to time for any changes and other information.

5. All expenses incurred for attending the personal interviews shall be borne by the candidate. NISM will not bear or reimburse any expenditure in this regard.

Prospectus and Application

Form

The prospectus and application form can be downloaded

from the Institute's website: www.nism.ac.in.

Candidates can also obtain the application form along

with prospectus from the Institute's office at Vashi

(Mumbai). Application Forms, duly filled in all respects,

along with a demand draft of ̀ 500/- (Rupees five hundred

only) drawn in favour of “National Institute of Securities

Markets” payable at Mumbai, should be sent to the

following address with the name of the programme on top

of the envelope:

CFERM Admissions Office:

National Institute of Securities Markets,

NiSM Bhavan, Plot No. 82,

Sector 17, Vashi, Navi Mumbai - 400 703

Direct No: 022-66735158

Tel: 022-66735100-05 (Board)

0908

Sr. No.

Tuition fee 1,20,000Courseware 10,000Examination fee 10,000Library fee 10,000

Total 1,50,000*

Particulars Amount (`)

1234

5

Enquiries

Enquiries may be mailed to Mr Rajshekar Torgal, Dy Manager - Programme Office:

Email: cferm@nism.ac.inDirect No: 022-66735158

Tel: 022-66735100-05 (Board)

Force Majeure

The Institute reserves the right to postpone or cancel the dates of personal interview/test. Also, the Institute reserves the right to modify/change the programme schedules, etc. The Institute's decision in this regard shall be final and binding on all participants. All candidates are also advised to visit the Institute's website regularly for any updates regarding the programme.

*Exclusive of applicable Taxes.

Last date for receiving duly filled-in applications

Interested candidates should send their duly filled application form along with a demand draft of ` 500 (Rupees five hundred only) so as to reach the Institute on or before June 8, 2013. Incomplete forms and forms received after the due date will not be accepted. Please do NOT enclose copies of any certificate along with the application form.

Important Dates

Last date for Submission of completed Application Form

June 8, 2013

List of candidates shortlisted on the basis of academic and experience criteria for personal interviews

June 12, 2013

Personal Interviews of shortlisted candidates

June 22-23, 2013

Announcement of selected candidates

June 27, 2013, First List

July 03, 2013, Second List

Last date for payment of first installment

July 15, 2013

Inaugural Session of CFERM July 20, 2013

Basic Module written exam

September 29, 2013

Announcement of Basic Module exam results on theInstitute's website

October 06, 2013

Last date for payment of second instalment

October 20, 2013

Last date for payment of third instalment

January 20, 2013

The list of important dates will remain same for both formats of CFERM.

Fees and Deposits

The total fee is ` 1,50,000/- (Rupees one lakh fifty thousand only). The fee is payable in three instalments as follows:

First instalment: ` 30,000/- (to be paid when the candidate is offered admission to the programme, on or before July 15, 2013)

Second instalment: ` 60,000/- (to be paid at the beginning of Advanced Module, on or before October 20, 2013)

Third instalment: ` 60,000/- (to be paid on or before January 20, 2013)

The fee structure mentioned above are exclusive of applicable Taxes. Short listed candidates will be intimated about applicable Taxes.

1110

Team NISM

Patrons of CFERM Programme

Mr. Sandip Ghose, Director NISM

Prior to joining NISM, Mr. Sandip Ghose was Head of Human Resource Management Department, Reserve Bank of India (RBI), overseeing the Strategic Management, Human Resource Development and Administrative Affairs of about 18,000 employees across the country.

A central banker by profession, Mr. Ghose has previously held positions such as Regional Director of the RBI, Delhi and Secretary to the Bank's Local Board of Directors in North India. Besides, he has also served as Chief General Manager and Principal of the College of Agricultural Banking in Pune, Chief of Staff and Advisor to three successive RBI Governors - Dr. C. Rangarajan, Dr. Bimal Jalan, and Dr. Y.V. Reddy - over a period of nine years, i.e. 1996-2004.

Mr. Ghose was instrumental in setting up the Human Resources Department in RBI in the year 1995, and went on to head the same, between 2004 and 2007, where he oversaw recruitment, training and development, performance and talent management, as also compensation, welfare and industrial relations. During this time, he was also the Principal, Bankers' Training College, Mumbai (now known as the Centre for Advanced Financial Learning) where he was responsible for grooming and capacity building of the top management of the commercial banks in India.

During his career, Mr. Ghose has received several prestigious awards. Among them are the Jagdeep Khandpur Award for Outstanding HR Leadership, Pride of HR Profession Award by the Institute Of Public Enterprises and HR Leader of the Year Award by the Asia Pacific HRM Congress. For his contribution to the field of HR and the Society at large, he has been conferred with an Honorary Doctoral Degree by the Eastern Institute of Integrated Learning and Management, Sikkim University.

Mr. Ghose holds a postgraduate degree in History and has had exposure to executive education at the top business schools in India and abroad. He continues to serve as Director/Member on the boards of national and international training institutions and business schools.

Mr. G.P. Garg, Registrar NISM

Prior to joining of NISM, he was working with SEBI as Chief General Manager. He has worked as the SEBI nominee on the Committees Advisory Committee on National Institute of Securities Markets (NISM) campus, Technical Group on Financial Inclusion & Financial Literacy under FSDC and Member of the sub-group on investor Education constituted by International Network for Financial Education under OECD.

He has held several senior assignments in SEBI since 1994. He has been closely associated with SEBI and Government of India initiatives on Financial Literacy and Investor Education in the country. He has initiated several investor protection and education activities in SEBI such as launching of SCORES, Toll Free helpline and Financial Education through Resource Persons. He has been actively associated with establishment of National Institute of Securities Markets (NISM) by SEBI.

Mr. Garg holds an undergraduate degree in Civil Engineering and Postgraduate in Finance. Moreover, he is the head of National Centre for Financial Education (NCFE) at NISM.

The faculty team is a fine blend of academicians, practitioners and Regulators. The CFERM experience is an outcome of this collaboration, resulting in the design and delivery of cutting-edge content from the city of Mumbai - the financial capital of India.

Academic TeamOur core faculty consists of PhDs from India's leading universities with notable professional experience or published work.

Prof. Sunder Ram Korivi,Dean- NISM

Prof. Sunder Ram Korivi is an MA (Economics & Political Science) and PhD (Business Policy & Administration) from the University of Mumbai. He is a CA Rank-holder (Nov. 1989, All-India 7th) and Fellow of the Institute of Chartered Accountants of India. Additionally, he is also an Associate member of the Institute of Cost & Management Accountants of India and the Insurance Institute of India. He was nominated as an honorary Fellow of the Association of Secretaries & Managers (Calcutta) and associate of the Chartered Institute of Securities & Investments (CISI-London). He was a full-time faculty member at SP Jain Institute of Management, and later, a Professor at NMIMS University, where he also served as the Head of the Departments of Finance and Economics. His interests are in the fields of Financial Reporting, Financial Institutions & Markets and Fixed Income Securities. He has won several Best Teacher awards. As the Dean of the School of Business Management at NMIMS University, he has also served on its various Boards, viz., Board of Management, Advisory Board, Planning & Monitoring Board and as the Convener of the Academic Council. He spearheaded several initiatives such as the MBA (Capital Markets) in collaboration with BSE, the MBA in Actuarial Science. He is the recipient of the Best Academician Award from Amity University. He was also instrumental in the co-operative endeavours with CIMA (UK), and CISI and Case Western University, USA and the Asia Pacific Risk and Insurance Association (APRIA, HQ Singapore). His work was recognized with the Three Palms Award from Eduniversal (France), for his contribution to the internationalism in the NMIMS curriculum. He has been nominated to the Board of Advanced Studies, ICMAI and as a subject expert at LNJP Institute of Criminology and Forensic Science and the Board of Studies – Finance at the University of Kashmir. He has conducted policy-oriented research for the Central and State Governments and for SEBI. An adjunct faculty at IIM Kozhikode, he has also lectured at IIT Bombay, NIBM, NIA, NITIE, BSE and other

institutes of national importance. In addition to authoring papers in national journals and international conferences, he has guided 2 PhDs, and also refereed PhD studies of several universities all over India. He has been with NISM since 2008. He has prior work experience with Business India as a Corporate Researcher, Tata Industrial Finance Corporation as a Merchant Banker and also with Axiomé as a Merchant Banker. He teaches Fixed Income, Credit Derivatives and Structured Products in CFERM Programme.

Dr. S. Rachappa Associate Professor

Dr. Rachappa is an M.Com (Accounting, University Rankholder) and PhD (Life Insurance) from Osmania University. He is the member of the American Accounting Association (AAA) and the Indian Accounting Associations. He has conducted training programmes for the officers of the Securities Exchange Board of India (SEBI). Prior to joining NISM, was an Associate Professor at Narsee Monjee Institute of Management Studies (Deemed University), Mumbai, and prior to that, a full-time faculty member at Osmania University College of Commerce and Business Management. He was a visiting faculty at National Institute of Industrial Engineering (NITIE) and the School of Business Management at Jawaharlal Nehru Technical University (JNTU). He has consistently obtained high ratings from past students of MBA and CFA Institute (USA). He was the recipient of Indian Accounting Association's Young Researcher Award for the year 2008- 09 and also ICFAI's Daily Telegraph Best Research Paper Award in 2008. He specializes in Financial Reporting, Analysis and Forensic Finance. He also has interests in the life insurance sector. He has presented more than 20 research papers in national and international conferences and has 5 research publications in his name. He has conducted peer reviews of two research articles for Vikalpa, the Journal published by IIM Ahmadabad. He will be teaching Accounting Aspects of Financial Engineering and Derivative Accounting.

1312

Dr. Poonam SinghAssistant Professor

Dr. Poonam Singh holds a PhD in Economics from the Indira Gandhi Institute of Development Research (IGIDR), Mumbai. She has been a PhD scholar at University of Hamburg under the European Union's Asia link Scholarship Programme (December 2006 - July 2008). She is a Gold medallist in Economics (MSc) with specialization in Econometrics and Industrial Organization. She has been awarded National scholarship at different levels of her academic career. Her research interests include Applied Econometrics, Institutional Economics and Applied Game Theory. She has published papers in international journals and has presented her research work in several international conferences and workshops. She has been involved in policy oriented research and consultancy projects for Ministry of Finance, Securities Exchange Board of India and IGIDR Finance Group. She has served as a committee member for sponsored projects of Ministry of Finance and as a consultant for the Financial Sector Legislative Reforms Commission (FSLRC) research team. . Her teaching interests include Economics for Securities Markets, Mergers & Acquisitions, Econometrics, Corporate Governance and Regulation in Securities Markets. She has been a guest faculty at IICM, NIBM and Azim Premji University. She also teaches in Management Development Programmes and Programmes sponsored by SEBI. She teaches Engineering of Merger & Acquisitions in CFERM Programme.

Mr. Akhlaque AhmedLecturerCFERM Programme Director

Mr. Akhlaque Ahmad is an MSc (Applied Mathematics) from Aligarh Muslim University and an MPhil (Cryptography) from the University of Mumbai. . Moreover, he has done Post Graduate Diploma in Financial Engineering (PGDFE). Currently, he is pursuing his doctoral degree in Financial Derivatives from Department of Economics (Autonomous), University of Mumbai. He has been research fellow for the Ministry of Science and Technology, Government of India, New Delhi. Prior to joining NISM, he was associated with the undergraduate programme of the London School of Economics & Political Sciences conducted at Mumbai. He has delivered talks and presented papers at University of Oxford, UK, National University Singapore, Singapore, Royal Flemish Society of Belgium, Belgium, Bradley University, USA, IIT Bombay, IISc Banglore and University of Mumbai, India. He has published work in the area of financial engineering, financial economics and derivatives. Also, he teaches executive programs and SEBI Induction Program. His areas of interest include Financial Engineering, Financial Cryptography, Mathematical Finance and Derivative Pricing. He has been visiting faculty at various B-Schools of University of Mumbai and India. He has industrial experience as a consultant with financial software and advertising companies. He teaches Mathematical Finance, Computational Finance and Financial Engineering related subjects in CFERM Programme. He extensively uses R-Language, Matlab, and Excel-VBA for computational and modelling purpose.

Dr Rachana BaidAdjunct Associate Professor

Dr. Rachana Baid is an M.Com (Gold medallist) and PhD. She specializes in Financial Systems and Regulatory Policy. She has undertaken consulting assignments with multilateral agencies such as the World Bank and has been a visiting faculty at IIM Indore and SP Jain Institute of Management. She has also served as an Assistant Professor at the UTI Institute of Capital Markets, Mumbai for about a decade.

Ms. Kavitha RanganathanAcademic Associate

Ms. Kavitha Ranganathan is an M.Phil. and a Post Graduate in Commerce (Mumbai University). She is currently pursuing a Ph.D. in Behavioral Finance. Prior to joining NISM, she worked as a Research Associate at IIM Bangalore. At NISM, she is primarily associated with the School for Securities Education (SSE), and research projects at NISM. Her research interests are in Behavioural Finance, Experimental Economics and Decision Making Approaches. She is also involved in policy-oriented research projects for Ministry of Finance, Securities and Exchange Board of India (SEBI) and IGIDR Finance Group. She has presented her research work at international and national conferences and won the best paper award at the IISc COSMAR Conference. She teaches Behavioural Finance in CFERM Programme.

Ms. Shobana KrishnanAcademic Associate

Ms. Shobana Krishnan is an MSc in Economics from Indira Gandhi Institute of Development and Research (IGIDR) and Economics-Statistics graduate from Mumbai University. She has been involved in various commissioned research projects such as Financial Sector Legislative Reforms Commission (FSLRC) and other such projects for Ministry of Finance and Securities and Exchange Board of India (SEBI). She has been invited by St. Xaviers' College, Mumbai to conduct sessions in Time Series Analysis and Derivatives. Her research interests include International Economics, Applied Econometrics and Policy Research.

1514

Dr. K Kiran KumarAssistant Professor

Dr. Kiran Kumar holds a PhD in Finance from the Indian Institute of Science, Bangalore and an MA in Economics from Hyderabad Central University. His research focuses on Market Microstructure, Derivatives, and Applied Financial Econometrics. He has received five Best Paper awards in national and international conferences and has published ten research papers. He has delivered lectures at several research workshops including SAS Workshop for Researchers at Indian School of Business, Structural VAR Models at RBI Staff College, and Econometrics Workshop of Indian Econometric Society. Earlier, Dr. Kiran Kumar was with the Centre for Analytical Finance, Indian School of Business as Senior Researcher and faculty and Researcher at ICICI Research Centre, Chennai. Moreover, Dr Kiran Kumar was also Program Director for CFERM Programme for the academic years 2010-11 and 2011-12. He teaches Applied Financial Econometrics, SAS Modelling and Quantitative Finance in CFERM Programme.

Mr. B. VenkateshMr. Venkatesh is a CFA (USA) and FRM (GARP), in addition to being a Chartered Accountant and a Cost & Management Accountant. He is an expert in Securities Analysis, Portfolio Management and Behavioural Finance. A former Editor (Financial Markets) at Business Line (a Hindu Group) publications, he is the Founder Director of Navera Consulting, a firm that specializes in portfolio performance evaluation. Previously, he has been a visiting faculty at IIM Bangalore and Great Lakes Institute of Management. He has taught Financial Engineering Applications in CFERM Programme.

Mr. R. L. Shankar Mr. R.L.Shanker heads the Centre for Advanced Financial Studies at IFMR. He is also the Program Director for the two year Financial Engineering Program offered by IFMR. He has done his B.Tech. from IIT Madras and MS in Computational Finance from Carnegie Mellon University USA. His research focus is on derivative pricing models, term structure modelling, non-parametric risk measurement techniques. He has rich experience in offering customized courses for bankers, analysts, regulators and other market participants. He teaches Financial Engineering Applications in CFERM Programme.

Mr. Suneel SarswatMr. Suneel Sarswat is an MSc in Statistics and Informatics from the Department of Mathematics, IIT Bombay. Before joining NISM, he worked on Financial Analytics at Bank of America (now BoFA Merrill Lynch). He has keen interest in Mathematics, Computational Finance and Financial Computing. He has done vital projects such as the application of neural networks in financial analysis, credit ratings and trading algorithms involving pattern recognition. He has participated in national and international workshops and conferences. Currently, he is pursuing his doctorate in Computer Science from TIFR. He teaches Computational Finance in CFERM Programme.

Mr. Ramesh B. ThimmarayaRamesh Babu Thimmaraya is an ME from IIT Madras, MBA from NITIE, Bombay and has attained the FRM Certification from GARP. He has worked at CENDAC Labs, USA and at GE, Bangalore. He has written 18 research papers in many peer reviewed international journals in the areas of Applied Mathematics, Quantitative Finance and Economics. Two of his research papers on mathematical statistics are in reputed international journals; one of the papers is among the top-25 cited articles in the world in the area of Time Series Analysis and Dynamics. He teaches Statistics for Quantitative Risk Management and Financial Engineering Applications in CFERM Programme.

Mr. Sanjoy ChoudhurySanjoy Choudhury is Principal – Radiant Consulting spearheading it's Treasury and Risk Consulting, Training and Research business including product and services offering to clients across all asset classes. He is an experienced financial market professional in the Banking & Financial Services Industry with over 16 years of experience spread across various organizations. He is a multi-skilled OTC Derivatives and Financial Risk professional with extensive knowledge and experience of Pricing, Valuation, Financial Derivatives Modelling, Hedging and Risk of Interest Rate, FX, Equity and Credit Derivatives including financial research, analysis and training. He teaches Risk Management in CFERM Programme.

Mr. Chandresh ShahChandresh Shah has more than 15 years of experience in Banks and Financial Institutions. He is currently working with Aviva as the Head of Risk Management. His past assignments include Risk Management and Compliance role with Tata Capital, Standard Chartered, HSBC and SEBI. He is a qualified accountant and a post graduate in management from the University of Mumbai. He also holds CFA charter and FRM designation. He teaches Risk Management in CFERM Programme.

Mr. Avinash GhalkeMr. Avinash holds a post graduation in Finance and Systems from XLRI, Jamshedpur and a CFA Charter Holder (CFA Institute, USA). He has 10 years of industry experience, spanning across Investment Research and Information Technology domains. He was associated with the Sell Side Equity research teams at Goldman Sachs, Lehman Brothers and Nomura, covering sectors like Oil & Gas, Alternative Energy and Pharma. He has also worked with the product development and equity research teams at LIC Nomura MF. He has taught Algorithmic Trading in CFERM Programme.

Mr. Chirag ShahMr. Chirag Shah is a Derivatives expert, and has worked for 6 years as a fund manager and advisor. He has worked with some prominent brokerage houses like Axis Securities and Angel Broking. He has conducted workshops and seminars on derivatives across 30 cities in India. He is also a visiting faculty for derivatives at Mumbai University and other B Schools. He is postgraduate in Finance and pursuing his PhD. He has developed many derivatives strategies and algorithms. He teaches Trading Aspects of Derivatives in CFERM Programme.

Mr. G. MahalingamMr Mahalingam is Chief General Manager and former regional director of Reserve Bank of India. He is associated with RBI from last 30 years with various roles as Inspecting officer, Chief Forex dealer, Chief Investment Dealer, Head of Internal Debt Management Department. He was also advisor to Central Bank of Oman for monetary operations. Currently, he is involved with RBI in monitoring and surveillance of money/Forex/G-Sec/Derivative Markets Intervention Operations and conduct of Liquidity Operations, Forex Intervention Operations and Open Market Operations. Moreover, he was six years faculty in Reserve Bank Officers Training College. He is M.Sc. in Statistics and Operations research from IIT, Kanpur and an MBA in International Banking and Finance from Birmigham Business School, UK. He teaches various financial engineering and risk management issues in Indian Market context.

Mr. Debashis BandyopadhyayShri Debashis Bandyopadhyay is at present Deputy General Manager, heading a division at Integrated Surveillance Department of SEBI. In this role, he supervises some of the work relating to surveillance. He has over 14 years of work experience at SEBI, having worked in various capacities. He is an alumnus of Jamnalal Bajaj Management Institute of Management Studies and prior to joining SEBI had worked at Stock Holding Corporation of India Ltd. And Microland Limited. He has taught Financial Surveillance in CFERM Programme.

Prof. Surendra SundararajanProf. Surendra Sundararajan, a Professor at MS Baroda University, is an MA (Economics), LLB, MBA (Wisconsin), and a PhD. He is an expert in Securities Markets and Risk Management & Derivatives. He is also a visiting faculty at SP Jain Institute of Management and Great Lakes Institute of Management. He has taught Financial Derivative in CFERM Programme.

Prof. M. VenkateshwarluProf. Venkateshwarlu, M.Com and PhD, is a Professor at National Institute of Industrial Engineering (NITIE). He has also pioneered the development of the CRISIL Certified Analyst Programme. His areas of interest are Financial Economics, Valuation and Risk Management. He has several research articles at refereed international and national journals, besides conference papers. He teaches Financial Economics in CFERM Programme.

Prof. Neeraj HatekarProf. Neearaj, M.A. and Ph.D., is a Professor at Department of Economics (Autonomous), Centre of Advance Studies, University of Mumbai. His area of interest is Econometrics, Game Theory and Experimental Economics. He has been visiting fellow at University of Cambridge and University of Ulster, UK. He has several publications in the journals of international repute. He teaches Game Theoretic Applications in Financial Engineering in CFERM Programme.

Mr. Navin NambiarShri Navin Nambiar is an MBA, CFA and FRM, currently the Deputy General Manager heading the Banking Supervision division at RBI. He is part of the core team at RBI involved in the execution of Risk Based Supervision in India. He has over 13 years of work experience at RBI having worked in various capabilities. He is an alumnus of the prestigious Boston College - Wallace E. Carroll Graduate School of Management, and Symbiosis International University. Prior to joining RBI, he was the Business Development Executive at Kotak Mahindra Finance Ltd.. His areas of expertise are Risk Management, Banking Strategy, Business Strategy, Capital Planning, Balance Sheet Management, Corporate Governance, Wealth Management and Financial Markets.

Dr. Mohit GargDr. Mohit is a Ph.D. in Computer Science from Tata Institute of Fundamental Research (TIFR). His area of interest is Probability Theory, Mathematical Finance and Complexity Theory. He has several publications in international journals and presented in national and international conferences. He has taught Stochastic Finance in CFERM Programme.

Visiting Faculty

Our visiting faculty team is drawn from a pool of experts who are academicians as well as practitioners. This adds invaluable experiential learning to the programme.

1716

Dr. Kavitha LaghateDr. Kavitha Laghate, MSc (Statistics) and Ph.D., is a Professor and Director at Jamnalal Bajaj Institute of Management Studies, Mumbai. Her areas of interest are Statistics and Quantitative Finance.

Mr. B. RenganathanMr. Renganathan is a Cost Accountant and Fellow of the Institute of Company Secretaries of India. He is a Senior Vice President - Compliance and Legal, at Edelweiss. His areas of specialisation are Corporate Laws, Securities Markets regulation and Mergers & Acquisitions.

Mr Shripad WagaleMr. Shripad Wagale is M.A (Economics) and pursuing Ph.D. from Department of Economics (Autonomous). He has worked with SP Jain Institute of Management Studies and Russel Square International College. His area of interest is Statistics, Econometrics and Game Theory. He has taught Statistics in Quantitative Risk Management in CFERM Programme.

18 19

* Senior SEBI officials be taking lectures on latest issueswill also

Application form duly filled in all respects along with demand draft should reach the institute on or before June 8, 2013.

NISM reserves the right to change or cancel the dates of the personal interview. Candidates will be informed in advance through email, in case of such changes. Candidates are advised to regularly visit NISM's website for the updated information.

Results of the interviews will be intimated to the successful candidates through email and the same will be displayed on the Institute's website. No separate communication will be sent in this regard. Hence, candidates are advised to check their email and also NISM's website on a regular basis.

Please Remember

NATIONAL INSTITUTE OF SECURITIES MARKETSPlot no. 82, Sector 17, Vashi, Navi Mumbai - 400703, India

Tel: +91 22-66735100-05 (Board) | Fax: +91 22-66735110

Email: cferm@nism.ac.in | Website: www.nism.ac.in