Oxford Executive Diploma in
Financial Strategy
Driving superior financial performance through impactful strategies
Executive degree programmes at Oxford Saïd
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OXFORD EXECUTIVE DIPLOMA IN FINANCIAL STRATEGY
‘The Oxford Executive Diploma in Financial Strategy
equips professionals with the financial and strategic tools
needed to evaluate and execute new business initiatives
and accelerate their careers. Whether you are an
experienced finance or strategy manager, C-suite executive
or entrepreneur, the diploma will sharpen your financial
acumen and strategic insights. These skills enhance value
in a diverse range of organisations from multinationals
to start-ups, and in every sector from services to
manufacturing, government to social enterprises.’
Ken Okamura
Academic Director and Senior Lecturer in Finance,
Saïd Business School, University of Oxford
WWW.SBS.OXFORD.EDU/DIPFINANCE
Overview
Modules
Quick facts
• Strategy
One year
• Business Finance
Duration
• Corporate Valuation
January 2023
• Financial Strategies
for Growth
Start date
50
Estimated class size
Oxford, UK
Location
Part-time
4 x 4 day modules
Format
Master’s-level
Postgraduate Diploma
EQF Level 7 qualification
£29,183
Course fees
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OXFORD EXECUTIVE DIPLOMA IN FINANCIAL STRATEGY
Why choose the Oxford Executive
Diploma in Financial Strategy?
You will
Your organisation will
• Gain a unique blend of strategic and financial tools to drive
superior performance
• Develop current and future leaders with the critical
capabilities to successfully drive financial performance and
deliver remarkable growth
• Develop the best practice needed to unlock value and
maintain a competitive advantage
• Study part-time alongside your role and immediately apply
your learnings to your organisation
• Learn from world-leading faculty who will share their
unrivalled expertise in sustainable growth and financial
management, enabling you to make credible and impactful
decisions
• Access the latest research and insights to reimagine your
organisational strategies and elevate your impact
• Earn a highly desirable and academically rigorous
postgraduate qualification from the University of Oxford
upon successful completion of the programme
• Benefit from participant diversity that encourages thinking
beyond the boundaries of individual organisations,
geographies and sectors
• Retain and develop top achievers and high-potential
employees
• Gain practical solutions to address their greatest strategic
challenges through the findings from your Final Integrative
Assignment
‘Oxford thinking’ and ‘Oxford doing’
• Become a resilient leader equipped to address the
challenges of your changing industry environment
We offer our participants a sustainable growth trajectory as
leaders, strategists and innovators by giving them new ways
of working and a network of connected individuals rich in
expertise and experience.
• Join one of the most prestigious alumni networks in the
world and benefit from lifelong association with an Oxford
college
‘Oxford thinking’ and ‘Oxford doing’ develops people who
can analyse complex problems, devise pragmatic solutions,
and implement them working as part of a team.
WWW.SBS.OXFORD.EDU/DIPFINANCE
Voice of the class
‘I had a business model that needed to be polished prior to being developed and
launched to the market. A business model that could change for good the lives of
millions of people around the world. I was admitted to the Diploma in Financial
Strategy and during the following months, I both studied and developed my business.
It wasn’t an easy journey as graduating from Oxford requires dedication and effort
and so does a disruptive business model. However, both were worth it. For months, I
was discussing with my peers and Professor Whittington the best strategy to follow
to reach a global market on a shoe string budget. It is a widespread belief that an
entrepreneur needs a series of external fundraising to achieve such an ambitious goal.
I would say that money is good to have, but having a disruptive strategy is better.
Transformify was launched in January 2016, and 3 years later, recruiters from 150+
countries trust Transformify to empower talent acquisition, predictive hiring and
diversity recruitment as well as to transfer payments to freelancers and employees
worldwide. Transformify received the 2017 First Women Award, 2018 Female
Entrepreneur Enterprise Award and ranks in the Top 50 Most Innovative Brands and
Top 10 Fintech Innovations in the UK... and the best is yet to come.
Would I be able to step in to so many countries without my Oxford classmates? I doubt
it. They came from all over the world and provided valuable insights of the culture and
specifics of each country. The foreign exchange regulations in Nigeria, the funding
opportunities provided by the European Union, VCs in the US, a PESTEL analysis
of the China market? I always had the best person to ask during the coffee break. We
may be alumni now, and not meet and speak with each other so often, but as my fellow
participant Katherine said during her graduation speech, we are Oxonians for life.’
Lilia Stoyanov
CEO, Transformify, UK
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UNIVERSITY OF OXFORD DIPLOMA IN FINANCIAL STRATEGY
Typical class profile
The programme is designed for experienced executives
with an upper-second class undergraduate degree or equivalent,
and at least five years’ work experience.
45
29
Class size
Nationalities
38
22
Average age
Employment sectors
30%
Nationalities
Female students
Africa
13%
Middle East
Asia
16%
North America
Europe (excluding UK) 26%
Oceania
Latin America
UK
5%
5%
14%
6%
16%
Statistics based on 2019-22 cohorts.
‘Midway through the diploma programme I moved from being an accountant
to working for a hedge fund as the knowledge I had gained on modules
one and two had already given me the confidence and expertise to move
successfully into a wider financial arena.’
Olga Pisarenko
Chief Financial Officer, RJI Capital, UK
WWW.SBS.OXFORD.EDU/DIPFINANCE
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Teaching and assessment
Teaching approach
The diploma is taught through a combination of lectures,
case-studies and syndicate group discussions. The content
is highly interactive, with students encouraged to contribute
throughout.
Academic structure
The programme is built on four immersive modules taught in
Oxford, all completed within one year. Each module begins
on a Wednesday and concludes on Saturday afternoon,
allowing you to combine full-time work with study and to
immediately apply your learnings to your organisation.
Assessment
Modules one, two and three are assessed by either in-person
exams, online exams, or assignments, or a combination
of these. Module four is assessed by an extended Final
Integrative Assignment (FIA) related to your organisation or
industry.
Participants must pass all four modules to be awarded
the diploma certificate (an EQF Level 7 qualification) at a
traditional University of Oxford end of course ceremony.
Study commitments
Previous participants on our Executive Diplomas have
estimated that the study commitment of the programme
in-between modules is approximately 5–8 hours per week for
the duration of the diploma. This time is spent preparing for
the assessments and completing the allocated pre-reading
prior to each module.
‘The practical experience, academic rigour and the Oxford
brand made the diploma a rewarding and exciting
experience. The diploma helped me to progress beyond the
operational day-to-day demands of running a business to
develop the strategic aspects of my career and learn how
to engage a broader range of stakeholders. I was able to
leverage the ideas from the diploma programme at work
to target growth areas to broaden the product offering,
client coverage and impact of my business.’
Nicholas Burgess
Senior Rates Quant, HSBC Global Markets, UK
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UNIVERSITY OF OXFORD DIPLOMA IN FINANCIAL STRATEGY
Modules
Module One: Strategy
Strategy is the art of creating superior performance. This
module explains the process and practice of formulating the
strategy of individual business units – competitive strategy
– and the nature of strategy for the multi-business firm –
corporate strategy. Participants develop the ability to apply
strategy models in the structured analysis of business issues
and to devise and evaluate future plans of action. Participants
develop the analytic skills of a strategy consultant and
the ability to present, defend and interrogate proposals in
strategic decision-making.
Module Two: Business Finance
In this module we measure the value that investments
create for investors, and understand how this value is shared
amongst the various claimants on the firm’s profits.
Starting with a review of discounting, the module then
explores how the assumptions made about a corporate
project – or entire firm – are turned into a cashflow forecast.
Next, the measurement of risk and return is examined, to
see how investors build portfolios in order to trade off risk
against return which will also enable participants to estimate
the return required by investors. We analyse the ways in
which the capital structure decisions affect the value of an
investment and finally, the module discusses derivative
securities and the market for initial public offerings.
This module will cover:
This module will cover:
• Goals and strategies
• Discounting and bond pricing
• Competitive advantage
• Capital budgeting
• Industry analysis
• Capital asset pricing model
• Strategy and change
• Capital structure and taxes
• Diversification
• Options
• Global strategy
• Initial public offerings
‘For me, the main benefit of the Diploma in Financial Strategy programme is that you get a real in-depth
exposure into two key areas – strategy and finance. You learn the science, theory and mechanics of how
various frameworks and concepts operate and then how to apply them successfully in your organisation. In
your thesis, the Final Integrative Assignment (FIA), you then combine the strategy and the finance elements
and demonstrate your application of what you have learnt. The balance means that you are set up to
successfully deliver your learnings and a return on investment in your organisation in real-time.’
Henning Ringholz
Entrepreneur, Ireland
WWW.SBS.OXFORD.EDU/DIPFINANCE
Module Three: Corporate Valuation
Module Four: Financial Strategies for Growth
This module provides in-depth understanding and ability to
make optimal strategic investment decisions. In explaining
the mechanics of corporate valuation, we also discuss how
to create (and destroy) corporate value. We demonstrate that
valuation is not a precise science, and that the strategic fit
and successful integration of projects is as important as the
calculation and analysis of a number.
This highly practical module will look at the various methods
used by companies to expand their businesses, including
mergers and acquisitions, and will seek to understand
whether, and how, they create value. Participants will review
the unique legal, cultural and procedural issues involved
when a company attempts to expand globally. Financial
modelling, due diligence and integration techniques will be
examined to show the common elements of successful
growth strategies and areas to be avoided.
This programme sharpens valuation skills in a variety of
contexts including firms in financial distress, valuation in
a competitive environment and in a private equity setting.
Applications include large-scale investment projects, brand
launches, venture capital investments, IPOs, mergers,
diversification decisions, R&D, and joint ventures.
This module will help participants to develop a solid and
practical awareness of the best ways to grow organisations
given a particular situation, as well as the pitfalls to avoid.
This module will cover:
This module will cover:
• Fundamentals of valuation
• DCF and project analysis
• Options for growth and
developing a growth strategy
• LBO valuation
• Strategic mergers and acquisitions
• Value creation
• Due diligence and financial analysis
• Relative valuation
• Deal structures and negotiation
• Realising, measuring, and
reporting value creation
• International growth
View module dates
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UNIVERSITY OF OXFORD DIPLOMA IN FINANCIAL STRATEGY
Voice of the class
‘I was looking for board level education and after diligent research the Oxford
Diploma came top of my list, thanks to the comprehensive curriculum and
flexibility to combine work and study.
Every module has been above and beyond my expectations in terms of
knowledge gained, and social and school experiences. My hope was to find a
programme where I’d gain insights that you cannot learn from books alone,
‘secrets’ that only real-life can teach you, and that many colleagues in the
workplace are not eager to share. So far, my hopes for the programme have
become reality. The most valuable elements have been the personal examples
and experience shared by colleagues and teachers.
I’ve found that the diploma has a good balance between technical and
practical content. The preparation work for the modules and the studying
time for the exams is reasonable. The out of class activities the school
organises are also very interesting and highly appreciated. I discovered Oxford
through the visits to colleges and the city tour, which were days I’ll remember
forever. The class is an amazing example of diversity and filled with inspiring
people. The networking opportunities are priceless, and I hope will also lead to
long-term friendships.’
Silvia Caraman
Corporate Controller, Cascades, Canada
WWW.SBS.OXFORD.EDU/DIPFINANCE
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The Oxford experience
Life at Oxford
Each diploma module will provide interaction and
networking opportunities with classmates, faculty and
industry guests, as well as the opportunity to try many
unique Oxford experiences.
As a participant, you will enjoy programme dinners with
your class in historic Oxford colleges, along with social
activities designed to embrace the rich traditions, cultural
and intellectual flavours of the city, such as a historic
walking tour and punting on the river.
Whilst in Oxford, why not explore the art and archaeology
collections at the Ashmolean Museum, Britain’s first
public museum, dating back to 1683. Avid readers and
researchers can apply for a reader card and visit the
Bodleian Library, which houses over 13 million printed
items. If you prefer something more lively, you can also
attend a debate at the Oxford Union, or visit one of
Oxford’s famous pubs where literary greats such as C.S.
Lewis and J.R.R. Tolkien met.
A pathway to Oxford’s Executive MBA
The diploma can be the beginning of a longer relationship
with Oxford. While some diploma participants may already
hold an MBA, for those considering further study there
is a pathway to the prestigious Oxford Executive MBA
programme. Successful applicants to the EMBA receive
a reduction in fees, as well as exemptions from the four
equivalent courses on the EMBA.
Find out more: www.sbs.oxford.edu/emba
Join one of the world’s most prestigious alumni networks
As a member of the Oxford Business Alumni (OBA) Network,
graduates of the Oxford Executive Diploma in Financial
Strategy will be able to maintain a lifelong connection with
the School and the wider University of Oxford. Joining the
OBA provides access to the network directory, an invaluable
tool for networking with organisations throughout the world,
and the opportunity to attend high profile events both in
Oxford and internationally. Further information can be found
at: www.oxfordbusinessalumni.org
Executive Diploma graduates also benefit from lifelong
association with a traditional Oxford college.
Pembroke College, OUI/Rob Judges
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UNIVERSITY OF OXFORD DIPLOMA IN FINANCIAL STRATEGY
World-leading faculty
Oxford’s outstanding programme leaders bring
access to world-class research, a wealth of industry
experience and the ability to present complex
concepts and lead high level executive debate.
Ken Okamura, Academic Director and Senior Lecturer in Finance
Ken Okamura is a Senior Lecturer in Finance at Saïd Business School. He is an expert on the
Japanese economy and financial system. Ken’s research focuses on the impact of financial distress
on bank and borrower reputation, including the impact of corruption and reputation on countries
and firms. Prior to working at the School, Ken was the Chief Strategist for Japanese equities at
Dresdner Kleinwort Wasserstein. He has also worked in private equity for Dresdner Kleinwort
Capital and as a fund manager for Baring Asset Management.
Richard Whittington, Professor of Strategic Management
Richard Whittington is a Professor of Strategic Management at Saïd Business School. He is a leader
in the field of Strategy-as-Practice research. Richard’s research explores the recent ‘opening’ of
strategy, as it becomes more transparent internally and externally. Amongst his many books are the
prize-winning ‘What is Strategy – and Does it Matter?’ and the biggest selling strategy textbook in
Europe, ‘Exploring Corporate Strategy’.
Olivier Sibony, Associate Fellow
Olivier Sibony is an Associate Fellow at Saïd Business School and an Affiliate Professor of Strategy
at HEC Paris. He specialises in the quality of strategic thinking and the organisation of decision
processes. Olivier’s research focuses on behavioural strategy – how to reduce the impact of
behavioural biases on strategic decision-making. In this field, he is a recognised thought leader and
frequently cited author. Prior to working in academia, Olivier spent 25 years in the Paris, New York
and Brussels offices of McKinsey & Company. He has extensive experience in consumer-packaged
goods, luxury goods, retail, and private equity.
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Martin Schmalz, Associate Professor of Finance
Martin Schmalz is a tenured Associate Professor of Finance at Saïd Business School. He is also a
Research Affiliate with the Centre for Economic Policy Research in London and the CESIfo Group
Münich, and a Research Member with the European Corporate Governance Institute in Brussels.
He was featured as one of the “40 under 40” best business school professors worldwide at
the age of 33. Martin is a financial economist with a particular interest in how finance interacts
with other fields of economics, including industrial organisation, labour economics, behavioural
economics, monetary economics and micro-economic theory.
Tim Galpin, Senior Lecturer of Strategy and Innovation
Tim Galpin is a Senior Lecturer of Strategy and Innovation, and Academic Director of the Oxford
Executive Diploma in Strategy and Innovation at Saïd Business School. His areas of expertise
include mergers and acquisitions, strategy formulation and execution, entrepreneurship,
organisational culture change, and leading sustainable organisations. Tim has extensive international
professional experience as a management consultant and senior executive. Throughout his career
he has provided advice to boards and senior management in various industries around the world.
Tim has also authored four management books, two of which have achieved “best seller” status.
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UNIVERSITY OF OXFORD DIPLOMA IN FINANCIAL STRATEGY
How to apply
The Oxford Executive Diploma in Financial Strategy is
designed for experienced executives who aspire to, or
already hold, strategic management positions. In order to be
considered for the programme, candidates must be able to
demonstrate the following:
Professional experience: Candidates should have at least
five years’ professional experience and be familiar with the
challenges of business strategy and finance.
Intellectual ability: An upper-second class (2:1)
undergraduate degree from an accredited institution or
equivalent is preferred, but we will consider applicants
who do not hold such a qualification but can demonstrate
a particularly strong employment record and/or hold certain
professional qualifications.
English language proficiency: The programme is taught
in English. An English test score of IELTS 7.5, TOEFL iBT
110, or TOEFL 630 is required if English is not your native
language, although a previous degree or work experience in
English may be sufficient. Please see our website for further
information about our English language requirements.
Application process and deadlines
Applications are submitted online. You will need an up-to-date
CV, degree transcripts, two short essays and two references.
Admissions are processed through a system of review before
a final decision is reached. Each application is considered
individually and a waiting list will operate once
the programme is full.
Fees
2023 programme fees are £29,183 covering tuition,
course materials, essential reading texts, examinations,
assessments, supervision and associate college
membership.
Building your business case
Typically, the diploma contains a good mix of self-funded
and sponsored candidates. If you are building a business
case in order to seek employer funding, explaining why
you think they should invest in sending you on the Oxford
Executive Diploma in Financial Strategy, you may find it
helpful to perform a skills-gap analysis. Think through where
you currently fit in your organisation and how the diploma will
enhance the contribution you make. Match your objectives
in undertaking the diploma to those of your organisation by
researching the modules covered on the programme to see
how they could benefit your particular organisation.
Next steps
We would be delighted to discuss the Oxford Executive
Diploma in Financial Strategy with you. Please contact
Laura Loudon with your questions or your CV:
Laura Loudon
Tel: +44 (0)7590 001198
Email: laura.loudon@sbs.ox.ac.uk
Read more about how to apply and
details about application deadlines at:
www.sbs.oxford.edu/dipfinance
Scholarships and funding
Oxford Saïd is committed to supporting and promoting diversity and inclusion.
We offer one £10,000 Women’s Scholarship in each class, which is designed to
support the progression of talented women into senior roles. We also offer two
£10,000 Director’s Awards, which are open to candidates who can effectively
demonstrate how they will enhance the learning experience of the cohort
through the diverse experiences they have accumulated to date.
All information is correct at time of going to press but is subject to change without prior notice
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All information is correct at the time of
going to press. Please check our website
for the most up-to-date information.
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