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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Postgraduate Diploma in Finance 
SAQA QUAL ID QUALIFICATION TITLE
122270  Postgraduate Diploma in Finance 
ORIGINATOR
University of Witwatersrand 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Postgraduate Diploma  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  120  Not Applicable  NQF Level 08  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Registered  EXCO 0623/24  2024-04-18  2027-04-18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2028-04-18   2031-04-18  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This qualification does not replace any other qualification and is not replaced by any other qualification. 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:
The Postgraduate Diploma in Finance will offer an alternative route for more practical-minded, and application-driven learners to strengthen and deepen their knowledge in the field of finance. While the qualification will have a practical emphasis, the course will demand a high level of theoretical engagement and intellectual rigour. Ultimately, the Postgraduate Diploma will provide learners with essential skills necessary for security analysis, debt and equity analysis, investment strategies, securities markets, and portfolio management without the need to complete a supervised research project.

The practitioner space within the field of finance is data-intensive and requires technical skills. This environment encompasses the financial market, which ranges from trading, security analysis, mergers, and acquisitions to portfolio management. Learners will be required to develop creative responses within this dynamic field. Consequently, learners will be required to demonstrate knowledge of the essential theoretical foundations and an understanding of how to apply such knowledge in the field of investment and corporate finance.

This qualification emphasises the latest practical and practitioner applications in the fields of investment and corporate finance. This differs from the existing qualifications, which are aimed at developing theoretical rigour through a substantial research component. A substantial portion of the existing curricula is derived from leading international and local academic journals that cover seminal and most recent developments in the field.
Furthermore, learners must demonstrate an understanding of the complexities and uncertainties involved in applying established financial models to real-world situations as well as processes or techniques to unfamiliar problems arising in the financial markets. Learners will need to critically review information gathering, and synthesis of data to evaluate a complicated environment.
Likewise, problem-solving is a central aspect in which a learner can demonstrate the ability to use a range of specialised skills and methods to identify, analyse and address complex or abstract problems drawing systematically on the body of knowledge and methods appropriate to investment and corporate finance.

Upon completion of the qualification, the qualifying learner will be able to:
  • Engage with central theories underpinning the broad disciplines of investment and corporate finance.
  • Evaluate a comparative range of methods and frameworks to be applied to security valuation, portfolio management, data analysis and corporate finance.
  • Access, apply and manage data to help navigate abstract problems in complex environments.
  • Apply appropriate conceptual and analytical frameworks relating to data analysis and financial modelling within portfolio management.
  • Demonstrate knowledge of the advantages and pitfalls of applying financial and statistical models to complex and uncertain macroeconomic environments.

    Rationale:
    The tertiary sector of the South African economy contributes approximately 70% of GDP. The finance sector is the dominant sector within the tertiary sector, the financial sector requires graduates with specialised technical and analytical skills. These skills are particularly relevant to practical applications in the financial sector.

    This qualification aims to provide South Africa with graduates who are not only competent in the field of finance with the capacity to understand and function effectively in the economy but can contribute to the economy of the country by applying knowledge in the field of investment and corporate finance.
    Prospective learners will be provided with a qualification that is less theoretical, and research-orientated compared to the existing postgraduate finance degrees, such as the honours degree. While the emphasis will be on practical applications, learners will be provided with an essential theoretical grounding.

    Learners will gain an understanding of the theories, methods and techniques relating to investment and corporate finance. Candidates will be equipped with the ability to interrogate multiple sources of knowledge emanating from academic and practitioner sources. Furthermore, candidates will be tasked with reviewing information and synthesis of data and applying a range of specialised skills to identify, analyse and address complex or abstract problems.

    This qualification will equip learners to enter the job market once they have completed this course. Specifically, this qualification will prepare learners for roles that include:
  • Investment banking
  • Stockbroking
  • Portfolio Management
  • Investment Research
  • Project Finance
  • Equity & Bond Valuation
  • Pension Fund Consulting
  • Merger & Acquisition Transactions
  • International Finance. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Recognition of Prior Learning (RPL):

    The institution has an approved Recognition of Prior Learning (RPL) policy applicable to equivalent qualifications for admission into the qualification. RPL will be applied to accommodate applicants who qualify. RPL thus provides alternative access and admission to qualifications, as well as advancement within qualifications. The following RPL processes may be applied.

    RPL for access:
  • Learners who do not meet the minimum entrance requirements or the required qualification that is at the same NQF level as the qualification required for admission may be considered for admission through RPL.
  • To be considered for admission in the qualification based on RPL, applicants should provide evidence in the form of a portfolio that demonstrates that they have acquired the relevant knowledge, skills, and competencies through formal, non-formal and/or informal learning to cope with the qualification expectations.

    RPL for exemption of modules:
  • Learners may apply for RPL to be exempted from modules that form part of the qualification. For a learner to be exempted from a module, the learner needs to provide sufficient evidence in the form of a portfolio that demonstrates that competency was achieved for the learning outcomes that are equivalent to the learning outcomes of the module.

    RPL for credit:
  • Learners may also apply for RPL for credit for or towards the qualification, in which they must provide evidence in the form of a portfolio that demonstrates prior learning through formal, non-formal and/or informal learning to obtain credits towards the qualification.
  • Credit shall be appropriate to the context in which it is awarded and accepted.

    Entry Requirements:
    The minimum entry requirement for this qualification is:
  • Advanced Diploma in Public Finance, NQF Level 7.
    Or
  • Advanced Diploma in Business Management, NQF Level 7.
    Or
  • Bachelor of Commerce in Finance, NQF Level 7. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    This qualification consists of the following compulsory and elective modules at National Qualifications Framework Level 8 totalling 120 Credits.

    Compulsory Modules at NQF Level 8, totalling 90 Credits.
  • Principles of Corporate Finance, 15 Credits.
  • Principles of Investment, 15 Credits.
  • Financial Modelling, 15 credits.
  • Introduction to Statistics with applications in R, 15 Credits.
  • Portfolio Management, 15 credits.
  • International Finance, 15 credits.

    Elective Modules at NQF Level 8, totalling 30 Credits (Select two)
  • Applications of Derivatives, 15 credits.
  • Data Analysis, Back-testing, and Optimisation, 15 credits.
  • Fintech and Big Data Analysis, 15 credits. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Engage with central theories underpinning the broad disciplines of investment and corporate finance.
    2. Evaluate the comparative range of methods and frameworks to be applied to security valuation, portfolio management, data analysis and corporate finance.
    3. Access, apply and manage data to help navigate abstract problems in complex environments.
    4. Apply appropriate conceptual and analytical frameworks relating to data analysis and financial modelling within portfolio management.
    5. Demonstrate knowledge of the advantages and pitfalls of applying financial and statistical models to complex and uncertain macroeconomic environments.
    6. Develop valuation models by applying appropriate procedures for analysing listed and unlisted companies.
    7. Gather and synthesise different financial data in the service of assessing an investment or corporate finance transaction thesis.
    8. Identify and address ethical issues using corporate governance and Environmental, Social & Governance (ESG) frameworks and critically reflect on the suitability of these frameworks within an investment context. 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcomes 1.
  • Compare and contrast the central tenets of investment and corporate finance theories.
  • Critique the relevant central investment and corporate finance theories in terms of their real-world application.
  • Assess the appropriateness or limitations of the applicability of investment and corporate finance theories to related areas within the field of business and economics.

    Associated Assessment Criteria for Exit Level Outcomes 2.
  • Apply different methodologies and frameworks to apply to security valuation and portfolio management.
  • Assess the applicability of different methodologies and frameworks to apply to data analysis and corporate finance.

    Associated Assessment Criteria for Exit Level Outcomes 3.
  • Collect, analyse, and interpret information and evaluate different data sources, different proxy candidates and overall data quality.
  • Identify and critique different variables that will be used as inputs into a financial or statistical model.
  • Apply knowledge and understanding to assess different data collection methodologies.

    Associated Assessment Criteria for Exit Level Outcomes 4.
  • Display accuracy in the implementation of various financial models and calculate optimal portfolio weights based on a particular investment objective.
  • Critique returns and risk assumptions of the financial model.
  • Assess the applicability of the model to individual or institutional investor needs.

    Associated Assessment Criteria for Exit Level Outcomes 5.
  • Provide clarity in enunciating the links and interconnections between models, theory, and real-world experience.
  • Assess the applicability of different statistical models and critique the strengths and pitfalls of various statistical models.
  • Identify and apply the most appropriate financial and statistical model to the problem at hand.

    Associated Assessment Criteria for Exit Level Outcomes 6.
  • Display accuracy in the implementation of several capital budgeting models to calculate a range of firm or project values.
  • Identify an appropriate range of risk profiles applicable to the project or firm.
  • Assess the appropriateness of growth assumptions to be implemented in the valuation model.
  • Assess the competition dynamics within the firm's industry and determine how that will influence the applied discount rate and overall firm valuation.

    Associated Assessment Criteria for Exit Level Outcomes 7.
  • Collect, analyse, and interpret information, critique different variables, and assess different data collection methodologies.
  • Assess the relative importance of the chosen data variables and their impact on an investment or trade thesis.
  • Identify the financial model or statistical techniques to which the chosen variables are most suited.

    Associated Assessment Criteria for Exit Level Outcomes 8.
  • Compare, contrast and critique appropriate governance mechanisms designed to address ESG issues.
  • Assess the relative importance of environmental, social and governance issues.
  • Evaluate the impact and trade-offs associated with the pursuit of ESG goals and issues on the organisation's business practice.

    INTEGRATED ASSESSMENT
    All fully online courses will be assessed by means of continuous assessment through a range of assessment types. This provides learners with multiple opportunities to gauge their progress and reflect on the course content. No individual formative or summative assessment will contribute more than 50% to a learner's overall mark.

    Each module will include frequent and ongoing assessment systems, to provide continuous feedback to the learners and thereby encourage continuous learning. Such feedback will be given to the learners within a reasonable time after the assessment. The details of which will be specified in the course outline. Continuous formative assessments will provide a clear opportunity for learners to assess their progress and will also afford them developmental feedback.

    Formative Assessment:
    Formative assessment applies to all the modules in the form of continuous assessment used throughout the module with a final assessment in week seven that takes the form of a summative assessment.

    Consequently, learners will be assessed by means of formative:
  • Tests
  • Assignments in the first 3-weeks with a final summative exam in week seven. Each module will consist of three tests (or assignments), each carrying a 20% weight.

    Summative Assessment:
    The final assessment exam will carry a weight of 40%. 
    		•

    INTERNATIONAL COMPARABILITY 
    Country: United Kingdom
    Institution name: University of Essex
    Qualification title: Diploma in Mathematics and Finance
    Duration: Nine months
    Credits: 90

    Entry requirements:
    A 2:2 degree in the relevant field.

    Purpose:
    The Postgraduate Diploma in Mathematics and Finance produces graduates with a sound mathematics and finance background, and with the necessary skills like computing, use of algorithms and analysing data, to be applied to problems arising in finance. Key components include statistical methods, data analysis, mathematical modelling and understanding of financial statements. The course includes a research methods module but does not require candidates to produce a supervised research report. Overall, the course consists of 18 modules and is designed to produce graduates with a sound background in mathematics and finance.

    Course structure:
    Modules:
  • Statistical Methods, comparable with Introduction to Statistics with applications in R.
  • Stochastic Processes
  • Mathematics of Portfolios
  • Survival Analysis
  • Financial Derivatives, comparable with Financial Modelling.
  • Research Skills and Employability

    Similarities:
  • The University of Essex (UE) and the South African (SA) qualifications offer their postgraduate diploma with a finance focus and accept learners who have completed a degree in the related field.
  • The UE qualification produces learners with a sound mathematics and finance background.
  • The SA qualification aims to offer an alternative route for more practical-minded, and application-driven learners to strengthen and deepen their knowledge in the field of finance.
  • Both qualifications share similar modules in their offering, such as Statistical Methods, comparable to Introduction to Statistics with applications in R and Financial Derivatives, comparable to Financial Modelling.
  • Both qualifications articulate vertically into a master's degree in the relevant field.

    Differences:
  • The UE qualification is offered over nine months with 90 credits, whereas the SA qualification is offered over one year with 120 credits.
  • The UE qualification has a research focus, having groups that are working on a broad range of collaborative areas tackling real-world issues.
  • The SA qualification's focus is to provide learners with essential skills necessary for security analysis, debt and equity analysis, investment strategies, securities markets, and portfolio management without the need to complete a supervised research project.

    Country: Canada
    Institution name: Douglas College
    Qualification title: Post-Baccalaureate Diploma in Finance
    Duration: Two years
    Credits: 60

    Entry requirements:
    Applicants must have an undergraduate degree from a recognized post-secondary institution in Canada or an equivalent credential from an approved institution in a different country.

    Purpose
    The Post-Baccalaureate Diploma in Finance aims at Boosting learner's resumé with a speciality credential in finance geared toward one of Canada's fastest-growing industries. Learners will learn and acquire financial literacy; a strong foundation in financial planning and investing and an understanding of business and financial law. Once you graduate, you'll be prepared to take on roles such as financial planner, financial advisor, or investment analyst.

    Career opportunities include:
  • Financial Planner
  • Financial Advisor
  • Investment Analyst

    Course structure
    Modules:
  • Business Mathematics.
  • Personal Finance.
  • Business Statistics, comparable to Introduction to Statistics with applications in R.
  • Introduction to Corporate Finance.
  • International Financial Management.
  • Investment Management Techniques, comparable to Principles of Investment.
  • Portfolio Management Techniques, comparable to Portfolio Management.
  • Financial Markets and Institutions,
  • Financial Planning Capstone.
  • Derivatives - Theory & Applications, comparable to Applications of Derivatives.

    Similarities:
  • The Douglas College (DC) and the South African (SA) qualifications both accept learners who have completed a bachelor's degree in the relevant field.
  • The DC qualification enables learners to learn and acquire financial literacy; a strong foundation in financial planning and investing and an understanding of business and financial law.
  • The SA qualification has a similar aim which is to enable learners to strengthen and deepen their knowledge in the field of finance and gain essential skills necessary for security analysis, debt and equity analysis, investment strategies, securities markets, and portfolio management.
  • The DC qualification prepares learners to take on roles such as financial planner, financial advisor, or investment analyst.
  • Similarly, the SA qualification prepares learners to assume roles such as investment banking, stockbroking, investment research, project finance and more.
  • Both qualifications share similar modules such as Derivatives - Theory & Applications, comparable to Applications of Derivatives, Portfolio Management Techniques, comparable to Portfolio Management, Investment Management Techniques, comparable to Principles of Investment and more.

    Differences:
    The DC qualification is offered over two years with 60 credits, whereas the SA qualification is offered over one year with 120 credits. 
    		•

    ARTICULATION OPTIONS 
    This qualification allows possibilities for horizontal, vertical, and diagonal articulation.

    Horizontal Articulation:
  • Postgraduate Diploma in Development Finance, NQF Level 8.
  • Postgraduate Diploma in Finance and Accounting, NQF Level 8.
  • Bachelor of Business Science in Finance, NQF Level 8.
  • Bachelor of Commerce Honours in Quantitative Finance, NQF Level 8.
  • Bachelor of Science Honours in Mathematics of Finance, NQF Level 8.

    Vertical Articulation:
  • Master of Business Studies in Finance, NQF Level 9.
  • Master of Commerce in Finance, NQF Level 9.
  • Master of Commerce in Strategic Management Accounting and Finance, NQF Level 9.
  • Master of Management in Finance and Investment Management, NQF Level 9.
  • Master of Commerce, NQF Level 9.

    Diagonal Articulation
  • Occupational Certificate: Municipal Finance Manager, NQF Level 8. 
    		•

    MODERATION OPTIONS 
    N/A 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    NOTES 
    N/A 

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
     
    NONE 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. University of Witwatersrand 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.