Required skill:

Appreciate the nature of the contexts in which finance can be seen as operating, including knowledge of the institutional framework necessary for understanding the role, operation and function of markets and financial institutions (e.g. the economic, legal, regulatory and tax environment, both national and international; the firm; the capital markets and the public sector).

Required competencies:

Cognitive skills
Analysis, judgement, attention to detail		 Generic competencies
Personal capabilities
Decisiveness, initiative		 Technical ability
Business awareness
Process operation, financial awareness, commercial awareness		 Practical elements
Professional expertise

Required skill:

A knowledge of the major theoretical tools and theories of finance, and their relevance and application to theoretical and practical problems (e.g. concept of arbitrage and examples of its use; financial mathematics and capital budgeting criteria; informational efficiency; optimal risk sharing; portfolio theory; asset pricing models and the valuation of securities; cost of capital; derivative pricing; risk management; information asymmetry; principal agency relationships; signalling; Fisher separation and capital budgeting criteria; behavioural finance; term structure and the movement of interest rates; determination of exchange rates and financial intermediation

Required competencies:

Cognitive skills
Analysis, judgement, attention to detail		 Generic competencies
Personal capabilities
Decisiveness, initiative		 Technical ability
Business awareness
Process operation, financial awareness, commercial awareness		 Practical elements
Professional expertise

Required skill:

Interpret financial data in the context of the firm or household from accounting statements and data generated in financial markets. This may involve analysis using statistical and financial functions and procedures such as are routinely available in spreadsheets (e.g. Microsoft Excel) and statistical packages. It may assume the skills necessary to manipulate financial data and carry out statistical and econometric tests (e.g. estimation and interpretation of asset pricing models; financial modelling and projections; event studies and residuals analysis; elements of time series analysis, such as serial correlation mean reversion, and stochastic volatility

Required competencies:

Cognitive skills
Analysis, judgement, attention to detail		 Generic competencies
Personal capabilities
Decisiveness, initiative		 Technical ability
Business awareness
Process operation, financial awareness, commercial awareness		 Practical elements
Professional expertise

Required skill:

An understanding of the relationship between financial theory and empirical testing, and application of this knowledge to the appraisal of the empirical evidence in at least one major theoretical area. The appraisal should involve some recognition of the limitation and evolution of empirical tests and theory (e.g. the efficient markets hypothesis; anomalies; pricing of derivatives and other securities; bond portfolio management; exchange rates; raising capital and capital structure)

Required competencies:

Cognitive skills
Analysis, judgement, attention to detail		 Generic competencies
Personal capabilities
Decisiveness, initiative		 Technical ability
Business awareness
Process operation, financial awareness, commercial awareness		 Practical elements
Professional expertise

Required skill:

An understanding of the financing arrangements and governance structures of business entities, and an appreciation of how theory and evidence can be combined to assess the effectiveness and efficiency of such arrangements (e.g. decisions as to sources of finance and financial structure; the pricing of corporate securities; the market for corporate control; corporate governance structures and mechanisms; financial planning and international dimensions of finance)

Required competencies:

Cognitive skills
Analysis, judgement, attention to detail		 Generic competencies
Personal capabilities
Decisiveness, initiative		 Technical ability
Business awareness
Process operation, financial awareness, commercial awareness		 Practical elements
Professional expertise

Required skill:

An understanding of the factors influencing the investment behaviour and opportunities of private individuals (bonds, equities, and derivatives; risk aversion; risk/return trade-offs; portfolio management and performance measurement; pensions and long term savings; the tax treatment of savings and investments; international diversification; forex risk; objectives of and constraints on institutional investors and advisors)

Required competencies:

Cognitive skills
Analysis, judgement, attention to detail		 Generic competencies
Personal capabilities
Decisiveness, initiative		 Technical ability
Business awareness
Process operation, financial awareness, commercial awareness		 Practical elements
Professional expertise

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