Graduate Certificate in Financial Services Management

The purpose of the program is to serve:

• Houston Financial Community: Local program whose graduates have skills in the focused area of financial services management.
• Students: Program integrating theory and practice that leads to a well-defined graduate credential. Complement to MBA or MS Finance.

Elements of the Program

• Focus is on Finance and related disciplines as they apply to management of financial services
  • Core: Finance, Accounting, Economics
  • Specialty: Legal, International
• Students work in 4 teams as professional staff of a financial services company throughout the entire experience: Cougar Investment Fund, L.L.C., a private investment company
  • Small, select group of students return as “senior managers” and are responsible for leading teams and overall objectives: marketing, asset management, compliance, & reporting.

Target Audience

Individuals employed or who wish to be marketable as

• Securities/Banking/Insurance Managers: Business valuation, risk-management and fund accounting techniques used in Brokerage, Mutual Funds, Trust Management, Commercial Lending, Investment Banking and Insurance
• Corporate Financial Managers: Understanding how financial markets assess the value of management decisions.

FSM Cirriculum

A Graduate Certificate in Financial Services Management will be awarded to MBA and MS Finance students who complete the following among their elective choices:

*Admission to these courses (and hence the Graduate Certificate program) is not automatic. Students must apply after completing the core of the MBA or MS Finance. See Application Procedure below.

** These are regular courses in the masters programs.

Specialized Course Descriptions

 The Cougar Investment Fund is a $7 million private investment fund managed by students enrolled in FINA 7397: Applied Equity Portfolio Management. This course offers 9 credit hours and requires a 12 month commitment beginning at the start of fall semester. Students who take this course must also concurrently (in the fall) register for the 3 credit hour course FINA 7397: Financial Analysis and Corporate Strategy.

Students in Applied Equity Portfolio Management course are security analysts and portfolio managers for the Cougar Investment Fund, a multi-million dollar private equity fund. The objective of the fund is to identify and invest in stocks whose market prices are below intrinsic value, while maintaining a risk exposure roughly equivalent to that of a broad market index. As analysts and portfolio management teams, students will build valuation models, make security selections, monitor compliance with fund objectives and perform the accounting and reporting duties necessary in the management of an equity mutual fund. This experience will require that students synthesize and apply all the main skills covered in the other graduate courses in Finance. Class meetings often involve lecture material or speakers. Students should therefore plan for significant outside time to be spent on work for the Fund.

The first half of Financial Analysis and Corporate Strategy introduces students to the details of Income Statement, Balance Sheet and Cash Flow Statement reports as they relate to investment decisions. The main focus will be on estimating free cash flow, and identifying the components of total enterprise value. Off-balance sheet financing, pension and employee stock option liabilities will be discussed. The second half of the course covers topics relating to the business models, industry structure and the competitive environment for firms within those industries. Specific attention will be paid to the types of strategies firms can adopt in cooperating with partners and competing with rivals. Cases will be utilized to illustrate the consequences of the strategic choices firms can make. Students will come to recognize the strategies companies follow, and the implications of those strategies for corporate value creation.

Pre-requisites

Pre-requisites for these courses are MBA core Finance and Accounting (FINA 6335 and ACCT 6331 or equivalent).

Application Procedure

Submit resume and transcripts to Professor Tom George (230 D Melcher Hall) by April 10th of the year in which enrollment is sought. Enrollment in these classes will be limited to the 16 qualified applicants. Therefore, submitting early increases the likelihood of acceptance.