University of North Carolina at Charlotte
CCI 5-1-08
New Undergraduate Curriculum and Courses Proposal from
The College of Computing and Informatics
Establishment of a Baccalaureate Concentration in Financial Services
Informatics
A.
Proposal Summary and Catalog Copy
1. Summary
The Financial Services Informatics Section of the Financial Services Industry has a large
presence in the Charlotte, NC, area. However, there is no academic program that
prepares graduates to enter this facet of the finance industry. We are proposing a new
concentration in our College’s offerings to fill this vacancy. We are mainly using courses
that are currently in existence and augmenting them with five new courses, two of
which are a renaming of existing courses to distinguish them as belonging to this
concentration. The new courses and their titles are:
ITCS/ITIS 1301 Introduction to the Financial Services Industry
ITCS/ITIS 2301 Financial Services Computing Environment
ITCS/ITIS 3301 Introduction to the Regulatory Environment for Financial
Services Firms
ITCS/ITIS 4640 Financial Services Informatics Industry Foundations Capstone I
ITCS/ITIS 4641 Financial Services Informatics Industry Foundations Capstone II
The complete program is laid out in Attachment #1, and includes the new specification
for critical thinking and ethics courses for College of Computing and Informatics
undergraduate students. Attachment #2 is a curriculum outline of a possible plan of
action for completing the degree in four years.
2. Proposed Catalog Copy
The catalog description of the financial services informatics track is as follow:
“Bachelor of Arts: Financial Services Informatics Concentration.
The Financial Services Informatics Concentration consists of 27 hours in financial
services courses that include ACCT 2121, ACCT 2122, ECON 2301, ECON 2102, FINN
3120, FINN 3221, FINN 3226, ITCS/ITIS 1301, and ITCS/ITIS 3301; 36 hours of
courses in informatics. These include ITCS 1212, ITCS 1212L, ITCS 1215, ITCS/ITIS
2301, ITCS 3155, ITCS 3160, and ITCS 3688; ITIS 1210, ITIS 2300, ITIS 3130, ITIS
1
3200, ITIS 3300, and ITIS 4220. There is a 6 hour component in Financial Services
Informatics Industry Foundations Capstone I and II. There are nine hours of
mathematics and statistics courses, including MATH 1120, STAT 1220, and STAT 2223.
A 6 hour block is dedicated to PHIL 1105 and LBST 2211 (Ethics designated sections).
Finally, there is a requirement for 6 hours of COMM 2105 and ENGL 2116.”
New Courses:
ITCS 1301. Introduction to the Financial Services Industry. (3) Crosslisted as
ITIS 1301. Prerequisites: None. The objective of this course is to provide the student
with an overview of the financial services industry, to include such areas as the industry
components; regulatory considerations and their impact; and relations with other
institutions. Fall, Summer (Evenings)
ITIS 1301. Introduction to the Financial Services Industry. (3) Crosslisted as
ITCS 1301. Prerequisites: None. The objective of this course is to provide the student
with an overview of the financial services industry, to include such areas as the industry
components; regulatory considerations and their impact; and relations with other
institutions. Fall, Summer (Evenings)
ITCS 2301. Financial Services Computing Environment. (3) Crosslisted as ITIS
2301. Prerequisite: ITCS/ITIS 1301. The objective is for the student to gain insights on
several key components in financial computing environments and the enabling
technologies. Spring, Summer (Evenings)
ITIS 2301. Financial Services Computing Environment. (3) Crosslisted as ITCS
2301. Prerequisite: ITCS/ITIS 1301. The objective is for the student to gain insights on
several key components in financial computing environments and the enabling
technologies. Spring, Summer (Evenings)
ITCS 3301. Introduction to the Regulatory Environment for Financial Services
Firms. (3). Crosslisted as ITIS 3301. Prerequisite: ITCS/ITIS 2301. Using case studies,
enable the student to understand the compliance and regulatory environment that
currently exists for Financial Services firms. Fall, Summer (Evenings)
ITIS 3301. Introduction to the Regulatory Environment for Financial Services
Firms. (3). Crosslisted as ITCS 3301. Prerequisite: ITCS/ITIS 2301. Using case studies,
enable the student to understand the compliance and regulatory environment that
currently exists for Financial Services firms. Fall, Summer (Evenings)
ITCS 4640. Financial Services Informatics Industry Foundations Capstone I.
(3) Crosslisted as ITIS 4640. Prerequisite: Senior standing. An individual or group
project in the theory, teaching, or application of Financial Services Informatics under
the direction of a faculty member. Projects must be approved before they may be
initiated. Fall, Spring, Summer (Evenings)
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ITIS 4640. Financial Services Informatics Industry Foundations Capstone I.
(3) Crosslisted as ITCS 4640. Prerequisite: Senior standing. An individual or group
project in the theory, teaching, or application of Financial Services Informatics under
the direction of a faculty member. Projects must be approved before they may be
initiated. Fall, Spring, Summer (Evenings)
ITCS 4641. Financial Services Informatics Industry Foundations Capstone II.
(3) Crosslisted as ITIS 4641. Prerequisite: ITCS/ITIS 4640. A continuation of ITCS/ITIS
4640. Fall, Spring, Summer (Evenings)
ITIS 4641. Financial Services Informatics Industry Foundations Capstone II.
(3) Crosslisted as ITCS 4641. Prerequisite: ITCS/ITIS 4640. A continuation of ITCS/ITIS
4640. Fall, Spring, Summer (Evenings)
B.
1.
JUSTIFICATION
Need Addressed
A committee was formed that included representatives from Bank of America,
Wachovia, and TIAA-CREF, and the College of Computing and Informatics to address
the needs of the Financial Services Informatics Industry. The Financial Services Industry
representatives to the committee that drafted this concentration stated clearly the need
for such an option. Their needs are a combination of finance and information
technology which are currently not being met by any program in the area. This blend of
finance, informatics, and the new courses will provide them with a well grounded
supply of entry level personnel.
2.
Prerequisites
Each of the new courses has a clearly stated prerequisite which supports the course in
its relationship to others in the program.
3.
Course Numbering
Each of the five courses is numbered at the proper level. The course numbers reflect
the year in which it is anticipated that the courses will be taken by the students enrolled
in this concentration.
4.
Improvements
The courses will provide the foundation for the new concentration. They will be taught
by adjunct faculty who are practitioners in the respective areas.
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C.
IMPACT
1.
Students served
This proposal will chiefly serve students in the College of Computing and Informatics
who have chosen to take the financial services informatics concentration. These new
courses will be available to any other students who might show an interest in the field
and who have the proper prerequisites.
2.
Effect on Existing Courses and Curricula
a. Offering
The courses will be offered as shown in their respective catalog copies. The three
lecture courses will be offered once each year and the capstone project courses will be
offered each semester.
b. Other Courses
The three lecture courses will not have any impact on other courses as they will be
taught by adjunct faculty. The capstone courses will compete with other similar
capstone courses for all undergraduate student s in the College.
c. Anticipated Enrollment
We expect the enrollment to begin slowly as the concentration begins to pick up
adherents. Initially, we anticipate small class sizes or ten or so, and building eventually
to a regular sized undergraduate course of thirty to thirty-five.
d. Enrollment Impact
These courses will not have any impact on additional courses as the students will need
to take these five as part of their concentration. They will enroll in other courses which
are taken by undergraduates in the College, and will be seen as part of the growth of
the College’s undergraduate program.
e. Topics Courses
None of the courses have been offered as topics courses and none are anticipated to be
presented as such.
f. Other Catalog Copy
No other area of catalog copy is impacted.
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D.
1.
RESOURCES REQUIRED TO SUPPORT PROPOSAL
Personnel
a. We anticipate hiring fully qualified, according to SACS criteria, adjunct faculty from
the financial services informatics industry to teach the courses. Funds will be made
available initially for the hires from the College’s lapse salary account. Additional funds
will be requested to upgrade one of the College’s core positions allocated for part-time
faculty as part of the normal budgeting process.
b. The following adjunct faculty meet SAC accreditation and may teach the following
courses:
ITCS/ITIS
ITCS/ITIS
ITCS/ITIS
ITCS/ITIS
ITCS/ITIS
2.
1301:
2301:
3301:
4640:
4641:
Benjamin Teal, Bank of America
Ken Russell, Kinetic Strategy Partners; Allan Shub, Wachovia
Ken Russell, Kinetic Strategy Partners; Allan Shub, Wachovia
Any CCI tenure-track faculty member
Any CCI tenure-track faculty member
Physical Facility
No new physical facility will be required to teach the lecture courses. Lab space is
available for the capstone courses.
3.
Equipment and Supplies
No new equipment or supplies are required to deliver the new courses.
4.
Computer
No new computing equipment will be required to support the new courses.
5.
Audio-Visual
No new audio-visual equipment will be needed as all classrooms are equipped with
smart podiums.
6.
Other Resources
No other resources will be needed to support this proposal.
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7.
Funding Sources
Funds to hire the adjunct faculty will be made initially through use of lapse salary. A
request will be made during the normal budget cycle to increase the allocation for the
core positions that fund part-time instructors.
E.
CONSULTATION WITH THE LIBRARY AND OTHER DEPARTMENTS
OR UNITS
1.
Library Consultation
Consultation with the Library was initiated on 17 April 2008. Their reply letter is at
Attachment #3.
2.
Consultation with Other Departments or Units
Consultation with the Department of Finance. The reply letter is at Attachment #4.
F.
1.
INITIATION AND CONSIDERATION OF THE PROPOSAL
Originating Unit
The proposal was approved by the Faculty of the College of Computing and Informatics
on _________________________________.
2.
Other Considering Units
No other units were requested to consider this proposal.
G.
1.
2.
3.
4.
5.
6.
7.
8.
6
ATTACHMENTS
Financial Services Informatics Degree Requirements
Curriculum Outline
Library Consultation
Department of Finance Consultation
Course Outline: ITCS/ITIS 1301
Course Outline: ITCS/ITIS 2301
Course Outline: ITCS/ITIS 3301
Course Outlines: ITCS/ITIS 4640 and 4641
Attachment #1
FINANCIAL SERVICES INFORMATICS DEGREE REQUIREMENTS
CORE—FINANCIAL SERVICES
27 hours
ACCT 2121, 2122,
ECON 2301, 2102,
Introduction to the Financial
Services Industry ITCS/ITIS
1301, Introduction to the
Regulatory Environment for
Financial Services Firms
ITCS/ITIS 3301, FINN 3120,
3221, 3226
CORE—INFORMATICS
36 hours
ITCS 1214, 1215, 3155, 3160,
and 3688
ITIS 1210, 2300, 3130, 3200,
3300, and 4220
Financial Services Computing
Environment ITCS/ITIS 2301
FINANCIAL SERVICES INFORMATICS
6 hours
MATHEMATICS/STATISTICS
9 hours
Financial Services Informatics
Industry Foundations Capstone I
& II—ITCS/ITIS 4640 and 4641
MATH 1120, STAT 1220, and
STAT 2223
CRITICAL THINKING AND ETHICS
6 hours
ELECTIVES—FREE
5 hours
PHIL 1105 and LBST 2211
GENERAL EDUCATION REQUIREMENTS
GENERAL EDUCATION I
Skills of Inquiry
3-6 hours
6 hours ENGL 1101 and 1102,
or 3 hours ENGL 1103
GENERAL EDUCATION II
Science
10 hour
7 hours of approved Sciences
with 1 lab, and
3 hours of approved Social
Sciences
GENERAL EDUCATION III
Liberal Education
9 hours
3 hours LBST 1101, 1102, 1103,
1104, or 1105
6 hours LBST 2301 and 2102
(3 hours LBST 2211 included
above)
GENERAL EDUCATION IV
Communication Skills
6 Hours
COMM 2105 and ENGL 2116
TOTAL 120 hours
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Attachment #2
Bachelor of Arts with a Concentration in Financial Services Informatics
Curriculum Outline
Freshman Year
Fall
ITCS 1212 & L
ITCS/ITIS 1301
ENGL 1101
MATH1120
LBST 110X
3
3
3
3
3
-----15
Spring
ITCS 1215
ITIS 1210
ENGL 1102
STAT 1220
PHIL 1105
3
3
3
3
3
-----15
Sophomore Year
Fall
ITIS 2300
ACCT 2121
ECON 2301
STAT 2223
COMM 2105
Spring
3
3
3
3
3
-----15
ITCS/ITIS 2301
ACCT 2122
ECON 2102
LBST 2211
ENGL 2116
3
3
3
3
3
-----15
Junior Year
Fall
ITIS 3200
ITCS/ITIS 3301
FINN 3120
SOC SCIENCE
LBST 2102
Spring
3
3
3
3
3
-----15
ITIS 3300
ITCS 3155
FINN 3221
ITCS/ITIS 4640
ELECTIVES
3
3
3
3
3
-----15
Senior Year
Fall
ITCS 3160
ITIS 3130
FINN 3326
ITCS/ITIS 4641
LAB SCIENCE
8
Spring
3
3
3
3
4
-----16
ITCS 3688
ITIS 4220
LBST 2301
LAB SCIENCE
ELECTIVES
3
3
3
3
2
-----14
Attachment #3
J. Murrey Atkins Library
Consultation on Library Holdings
To:
Prof. Lejk
From:
Kelly Evans, Business Librarian
Reese Manceaux, Research Data Services
Date:
May 5, 2008
Subject:
Financial Services Informatics
Summary of Librarian’s Evaluation of Holdings:
Evaluator: Kelly J. Evans and Reese Manceaux
Date: May 5, 2008
Please Check One:
Holdings are superior
Holdings are adequate
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_____
(see attachment)
__X__
Holdings are adequate only if Dept. purchases additional items.
_____
Holdings are inadequate
_____
Comments: Please see the attachment Course Proposal
Kelly J. Evans
Reese Manceaux
______________________________
Evaluator’s Signature
5/9/08
______________________________
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Library Resources:
Databases
Business1. Business Source Premier-article database in various areas of business and information
technology. (Example searches, asset management, private banking, and custody
services.)
2. EconLit-article database in the area of economics research.
3. Industry Market Research-database featuring the latest in various industry trends,
finances, and outlook.
4. Lexis-Nexis Academic- database that includes federal, state and international laws and
regulatory information regarding corporate business practices.
5. Westlaw-legal research database that includes case laws.
6. Investext Plus-full-text reports about investment research on companies and industries.
7. Globus-International database of global trade and investment research.
8. SAGE Journals Online-include more than 246 journals including areas of business and
technology.
9. CCH Tax Research Network-database involving U.S. taxation information provided by the
CCH tax services.
10. Checkpoint-primary and secondary sources regarding U.S. local, state and federal
taxation.
Information Technology1. Compendex- bibliographic database of technology and engineering research literature—excels at
computer security articles (also 11,000+ articles with banking or financial in the title).
2. IEEE Xplore-publications of the IEEE in the areas of electrical engineering and computing.—
contains a few articles on financial systems such as E-commerce technology conference papers.
3. Springer-Link-(full text) combines journals with subjects of business and economics, and
computer science (Journal of Financial Services Research/Financial Cryptography and Data
Security for examples.)
4. Academic Search & MasterFile – mostly interdisciplinary databases but they do contain some
scholarly journals such as: Bank Systems & Technology, Computer Security Update.
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Books published in last five years
SubjectsHedge Funds- 15 books.
Corporate Governance- 41 books and e-books.
Monetary Policy- 13 books and e-books.
Banks and Banking- 113 books and e-books. 2 are published in last five years. 34 related
subject headings.
Consumer Protection- 7 books and e-books.
Identity Theft United States Prevention-42 books and e-books.
Computer Security- 90 books
Electronic Commerce – 54 books and e-books / Electronic Funds Transfers – 15 books
Computer Networks-Security – 34 books and e-books
Database Management – 29 books and e-books
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Attachment #4
Department of Finance
The Belk College of Business
9201 University City Blvd.
Charlotte, NC 28223-0001
Telephone 704-687-7623
Fax 704-687-6987
MEMORANDUM
To:
Dr. Rick Lejk, Associate Dean, College of Computing and Informatics
From:
C.W. Sealey, Chair, Department of Finance
Date:
25 April 2008
Subject:
New Undergraduate Curriculum and Course Proposal
As Chair of the Department of Finance, I support your proposed undergraduate program in
Financial Services Informatics. If I can be of further assistance, please let me know
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Attachment #5
Course outline for ITCS/ITIS 1301 Introduction to the Financial Services Industry
1. The Nature of Financial Services
a. History of financial services
National Banking Act – 1863
Federal Reserve Act – 1913
Banking Act – 1933
Depository Institutions Deregulation and Monetary Control Act – 1980
Riegel-Neal Act – 1994
Gramm-Leach-Bliley Act - 1999
b. Banking services
Consumer/Commercial Banking
Private Banking
Investment Banking
Credit Cards
Virtual Banking
c. Investment services
Asset Management
Hedge Funds
Custody Services
d. Insurance Services
Brokerage
Underwriting
Reinsurance
2. The Role of Financial Services and Financial Markets in a Modern Economy
a. Economic stability and growth
b. Trading
c. Supply/Demand
3. Financial Instruments
a. Dimensions and concepts
b. Types of financial instruments
Cash instruments
Derivatives instruments
Foreign Exchange instruments
c. How to calculate financial instruments
d. Interest rate risk
4. An Introduction to Financial Regulation
a. Federal Reserve
b. Interest rates
c. Depository institution regulation
d. Deposit insurance (FDIC)
e. Monetary policy
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Possible textbooks and reading materials:
Financial Institution Management: A Risk Management Approach, Irwin/McGraw-Hill, 5th Edition,
2005
Bank Management & Financial Services, McGraw-Hill/Irwin, 7th Edition, 2006
Possible instructors:
Benjamin Teal, Bank of America
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Attachment #6
Course Outline for ITCS/ITIS 2301 Financial Services Computing Environment
1. Architectures
a. Service Oriented Architectures (SOA)
b. Web Services
c. Grid
2. Transaction Processing
a. High volume, on-line and batch applications
b. Impact of mixed environment: legacy and new applications, distributed and
mainframe platforms.
c. Key issues that technology must address include high speed, high reliability,
traceability (log auditing, non-repudiation), and auditability.
3. Security, compliance, and regulatory concerns
a. Increased emphasis for financial institutions
b. Use of technology to provide better control and management in areas like
discoverability, data retention, and “Big Brother”
4. Strategies for High Availability and Recoverability
a. Active-Active
b. Hot Cold
c. Virtualization
d. Others
5. Customer and business partner channels
a. Call centers
b. Branch offices
c. Internet
d. Telephone
e. ATM/kiosks
f. Email
g. Print and output technologies
6. Impact of off-shoring and outsourcing
a. Remote development
7. Quality management
a. CMM
8. Field trips and hands-on experiences
a. Call centers
b. Trading floors
c. Data centers
Possible textbooks and reading materials:
Possible instructors: Ken Russell, Kinetic Strategy Partners; Allan Shub, Wachovia
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Attachment #7
Course Outline for ITCS/ITIS 3301 Introduction to the Regulatory Environment for Financial
Services Firms
1. History of the Financial Services IT regulatory environment
2. Focus areas for regulation
a. Investments/securities
i. Legislation: Investment Advisors Act, Investment Company Act, Security
Exchange Act
ii. Case study – insider trading
b. Banking
i. Office of the Comptroller of the Currency, FDIC, Federal Reserve, Office
of Thrift Supervision
ii. Case study – the Savings & Loan crisis in the 1980s
c. Financial reporting integrity
i. Case Study – Accounting fraud at WorldCom
ii. Case Study – Enron
d. Privacy
i. Gramm-Leach Bliley
ii. HIPAA
iii. State Laws (California, etc.)
e. Consumer protection
i. FCC TCPA and State DNC (Do-Not-Call) laws
ii. Identity theft
iii. Federal and state breach notification laws (banking)
iv. Payment Card Industry (PCI)
v. Email (CANSPAM) (ID of sender, Ability to opt out, COPPA (protection of
children online))
f. Federal and state record retention requirements
g. Anti-terrorist and national security
i. USA Patriot Act
ii. Anti-money laundering
3. Key risks
a. Managed services & outsourcing
b. Contractual issues
c. Disaster recovery
d. Business continuity planning
4. Governance
a. Case Study - Sarbanes-Oxley (SOX)
b. Case Study – IT Governance
Possible textbooks and reading materials:
Possible instructors: Ken Russell, Kinetic Strategy Partners; Allan Shub, Wachovia
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Attachment #8
Course Outline for ITCS/ITIS 4640 and 4641, Financial Services Informatics Industry
Foundations Capstone I and II
These two courses will consist of individual or group projects in the teaching, theory, or
application of Financial Services Informatics under the direction of a faculty member. The
courses will provide cumulative experiences to students working in realistic projects in a team
environment. Key topics will be the challenges facing information technology within the
Financial Services Industry. Some examples may include outsourcing and off-shoring, platform
consolidation, out-dated infrastructure, new product introduction, expanding services, and poor
infrastructure in developing countries.
Students will initiate and complete their data collection and analysis, formulating conclusions
and/or strategies. They will develop a written report of their research findings, following the
prescribed format, and develop a presentation format of their choice, designed to enable others
to understand the project, the outcomes, recommendations and conclusions, and their learning
experiences.
Possible textbooks and reading materials: Will be dependent on topic selected.
Possible instructors: Any tenure track faculty member in the College may serve as advisor for a
capstone course.
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