SPECIALIZE IN FINANCE & BANKING with classmates from all over the world. We offer you a life changing experience: DO YOU ACCEPT THE CHALLENGE?



Master in Finance & Banking

Welcome to CIFF Business School of University of Alcalá (Spain). Are you looking for an international study experience that will prepare you for leading positions in today’s challenging and globalized world? Join CIFF’s Master in Finance & Banking at our facilities in Madrid.

CIFF’s Master in Finance & Banking has been ranked as one of the top financial Masters in Spain several times. Taught by professionals and with a practical approach, the programme aims to develop a new generation of finance analysts. You develop your understanding and insight into how financial institutions and markets function, preparing you with the knowledge and experience needed to face the challenges in the financial world of today. As well as gaining an in-depth understanding of complex relationships in the areas of finance and banking, you will meet and work with classmates from a wide variety of countries and cultures who can add international insight to group work and class discussions.

CIFF Business School, escuela de negocios Universidad de Alcalá
What Do We Offer?

Master in Finance & Banking


One of Spain’s TOP RANKED masters in finance taught entirely in English.

Learning Methods

LEARNING METHODS with a strong practical focus providing you with a 360º view when addressing any issue.

Oficcial Degree

An OFFICIAL DEGREE in finance & banking that, upon completion, allows you to undertake a PhD programme.


A strong FACULTY of knowledgeable professionals teaching core courses in their areas of expertise.


An INTERNATIONAL & MULTICULTURAL setting: currently 12 different nationalities are represented among the students of the master.


A CAREER SERVICE DEPARTMENT that will help you find the best career opportunities.
Participant Profile.

Máster in Finance & Banking

The Master in Finance & Banking has been specifically designed for international young professionals with a high development potential and a strong profile in the areas of Finance & Banking. We are looking for candidates that are ready to face an intellectually challenging programme, requiring focus, determination, deductive logic, a multitasking capacity and the ability to meet tight deadlines.

On the other hand we will provide a high quality programme, that ensures that, at the end of the Master, our students will find themselves in a position to respond to the demand from global firms for dedicated professionals with specialized financial knowledge.
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Master in Finance & Banking

The Master in Finance & Banking is divided into two terms, with a posible 6-month internship. The curriculum consists of Core Subjects, Elective Subjects and the Final project.

As a student of the Master in Finance & Banking you will have the advantage of learning from leaders in the fields of Corporate Finance, Financial Markets and Risk Management. The experience of our professors, and their solid understanding of the broader issues, offer students an invaluable practical perspective.

1st Term

  • Basics in Macroeconomics
  • Basics in R
  • Information Reporting
  • Derivatives
  • Equity & Fixed Income
  • Trading & Investment in Banking

Elective Subjects

  • Corporate Law – online
  • Financial Software – online
  • Microfinance – online

2nd Term

  • Corporate Finance
  • Advanced Corporate Finance
  • Project Finance
  • Corporate Governance and Business Ethics
  • Portfolio Management Theory
  • International Capital Markets
  • Financial Emerging Markets
  • Risk Management I
  • Risk Management II – online
  • Leadership in Banking Industry – online
  • Financial Marketing – online
  • Strategic Management

Final Project

  • Final Project: Academic Investigation
  • Final Project: Investigation linked to Internship

Participants will have the advantage of learning from leaders in the fields of Corporate Finance, Financial Markets and Risk Management, who have practical experience through their advisory and executive work. The professors have a solid understanding of the broader issues, ensuring that the course will be rigorous as well as relevant.

Consultant and researcher at the Computational Finance Laboratory of the University of Alcalá and Senior Advisor at ING Nationale Nederlanden. Master’s Degree in Quantitative Finance from CIFF.
Enrique Ascordebeitia
Professor at CIFF Business School

Advisor and Business Coach for Executives, Speaker and Author, having published 10 books, more than 100 articles and multiple case studies, technical notes and working papers. PhD in Economics and Business Administration from the University of Alcalá. MBA from IE Business School.
Félix Cuesta
Advisor and Business Coach for Executives

Head of the Internal Validation Unit at Barclays Bank, S.A.U., reporting to the General Counsel and leading a team of four senior analysts. Degree in Economic Sciences from the Complutense University of Madrid with major in Quantitative Theory. Title of Financial Risk Manager (FRM) from the Global Association of Risk Professionals (GARP).
Álvaro Fernández
Head of the internal validation unit at Barclays Bank

Visiting professor at the University of Alcalá in the area of Accounting and International Accounting. PhD in Business Administration (Financial Accounting) and Master’s Degree in Management and Change Management (Business Administration) from the University of Alcalá.
Anne Marie Garvey
Professor at the University of Alcalá

Head or Training services for in-company courses in Corporate Finance topics and member of the Corporate Finance team at Ernst & Young. Degree in Business Administration from CUNEF Business School in Madrid. Executive Program – Investment Banking Corporate Finance Seminar, Kellogg Graduate School of Management, Chicago.
Ana Hernández-Ros
Mergers & Acquisitions- Training at Ernst & Young

Senior Expert at Martinsdelima & Partners and Managing Partner of Capital SAT. Former General Manager of Business Development at Hera Group and Assistant General Director of the Santander Group. PhD in Economics. MBA from INSEAD Business School. Industrial Engineering from ICAI School of Engineering in Madrid.
Rafael Martins de Lima
Senior Expert at Martinsdelima & Partners

Corporate Chief Financial Officer and Head of Strategy & Business Development at SENER Engineering Group (SGI). Former Senior Financial Analyst at BBVA Bolsa (Madrid). Ph.D. in Economy, Complutense University of Madrid. Executive Master’s Degree in Business Administration, IESE Business School.
José Ignacio Morales
Head of Strategy, Business Development at SENER

Associate Professor of Finance in the Department of Business Administration at the University Carlos III. David’s research interests center on Mutual Funds Performance Evaluation and new portfolio theories (based on downside risk measures). PhD in Economics from the University of Alcalá de Henares. Master’s Degree in Finance from CIFF Business School.
Jesús David Moreno
Professor at the University Carlos III

Professor at the University of Alcalá de Henares & Director of the Master in Finance and Master Finance & Banking at CIFF. Visiting researcher at several U.S. and Asian universities. Director of Sun Microsystems Laboratory for Computational Finance, University of Alcalá. PhD in Economics.
José Ignacio Olmeda
Professor at the University of Alcalá

Researcher at the Franklin Institute in American Studies and Academic Director of several graduate programs. Areas of expertise: Economic Theory and International Economics. PhD in Economics from the University of Alcalá. Master of Arts (Economics) from the University of Chicago
Gonzalo Rodríguez
Professor at the University of Alcalá

Head of Equity Capital Markets and Debt Capital Markets at Haitong Bank and member of the Executive Committee at Espirito Santo Investment Bank, Spain. Contributor to business newspaper Cincodias.com. MBA Cum Laude by IE Business School, Madrid. CEFA/CIIA Foundation certified by EFFAS and Certification in Fixed Income by IEB.
Damián Rubianes
Head of Equity Capital Markets at Haitong Bank

CEO of Consulta Abierta, Consultant of the European Commission and the World Bank on economic issues and trainer in Spanish banks and large European companies. PhD-ABD and Master’s Degree in Economics from the American University.
Mario Weitz
Consultant of the European Commission and the World Bank

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