Financial Risk Management MSc

This MSc programme, which has been designed in conjunction with leading risk professionals, aims to meet the growing demand for professionals who are highly skilled in quantitative risk management. Students gain core competencies in risk analysis and have the opportunity to tailor the programme to their own interests and needs through the wide variety of options available.

Key Information

Modes and duration

  • Full-time: 1 year

Programme start date

September 2016

Tuition Fees (2016/17)

£17,190 (FT) £N/A (PT)
£26,000 (FT) £N/A (PT)

Application dates

All applicants
Open: 5 October 2015
Close: 1 July 2016
Fees note: Part-time fees are available on request from the department.

Entry Requirements

A minimum of an upper second class UK Bachelor's degree, in a relevant discipline, or an overseas qualification of an equivalent standard, with a strong quantitative component evidenced by good performance (higher than 60%) in relevant mathematics, statistics or computation options.

English Language Requirements

If your education has not been conducted in the English language, you will be expected to demonstrate evidence of an adequate level of English proficiency.

The English language level for this programme is: Good

Further information can be found on our English language requirements page.

International students

Country-specific information, including details of when UCL representatives are visiting your part of the world, can be obtained from the International Students website.

International applicants can find out the equivalent qualification for their country by selecting from the list below.

Select your country:

Degree Information

Students will be educated to an advanced level in programming and computing and will gain mathematical, statistical and computational modelling skills. They will have a clear appreciation of different types of risk within the industry, and of the managerial and psychological issues related to risk control.

Students undertake modules to the value of 180 credits.

The programme consists of four core modules (60 credits), four options (60 credits) and the research dissertation (60 credits).

Core Modules

  • Compliance Risk and Regulation
  • Financial Data and Statistics
  • Market Risk, Measures and Portfolio Theory
  • Quantitative and Computational Finance


  • Applied Computational Finance
  • Asset Pricing in Continuous Time
  • Equities, Foreign Exchange and Commodities Modelling
  • Financial Institutions and Markets
  • Forecasting
  • Networks and Systemic Risk
  • Numerical Analysis for Finance
  • Operational Risk Measurement for Financial Institutions
  • Quantitative Modelling of Operational Risk and Insurance Analytics
  • Stochastic Methods in Finance I


Students undertake a summer work placement in an industry environment. The modelling, research and data analysis which takes place over the summer placement forms the basis of the 10,000-word dissertation.

Teaching and Learning

The programme is delivered through a combination of lectures, seminars, tutorials and project work. Modules are assessed by written papers and/or coursework. The research project is assessed by a written report and (optional) oral examination.

Further information on modules and degree structure available on the department web site Financial Risk Management MSc


Scholarships relevant to this department are displayed (where available) below. For a comprehensive list of the funding opportunities available at UCL, including funding relevant to your nationality, please visit the Scholarships and Funding website.

Brown Family Bursary - NOW CLOSED FOR 2015/16 ENTRY

£15,000 (1 year)
UK students
Based on both academic merit and financial need

Computer Science Excellence Scholarships

£4,000 (1)
UK, EU students

More scholarships are listed on the Scholarships and Funding website


Many students have gone on to careers in financial services in the City of London or in their home countries; a number of graduates have proceeded to PhD-level study.


Students acquire mathematical, statistical and computational skills which are highly sought after by the financial industry to assess, quantify, model, simulate and edge risk.

Why study this degree at UCL?

The Bank of England (BoE), the Financial Conduct Authority (FCA) and the financial services industry place great emphasis on raising the level of quantitative analytics used in risk management and compliance. UCL, in collaboration with the BoE/FCA, aims to set a new benchmark in this area, based on training students to become risk professionals who are good scientists in the area of risk management.

UCL Computer Science is recognised as a world leader in teaching and research. Our Master's programmes have some of the highest employment rates and starting salaries, with graduates entering a wide variety of industries.

We take an experimental approach to our subject, enjoy the challenge and opportunity of entrepreneurial partnerships and place a high value on our extensive range of industrial collaborations.

Student / staff ratios › 200 staff including 120 postdocs › 650 taught students › 175 research students

Department: Computer Science

Application and next steps


Students are advised to apply as early as possible due to competition for places. Those applying for scholarship funding (particularly overseas applicants) should take note of application deadlines.

Who can apply?

The programme is aimed at students with a first degree in mathematics, finance, economics, physics or computing who wish to gain the skills necessary to work within quantitative risk management. Candidates will be expected to have established competency in probability, statistics, differential equations and the use of a computer to solve numerical problems.

Application deadlines

All applicants
1 July 2016

For more information see our Applications page.

Apply now

What are we looking for?

When we assess your application we would like to learn:
  • why you want to study Financial Risk Management at graduate level
  • why you want to study Financial Risk Management at UCL
  • what particularly attracts you to this programme
  • how your academic and professional background meets the demands of this programme
  • what programming experience you have
  • where you would like to go professionally with your degree
Together with essential academic requirements, the personal statement is your opportunity to illustrate whether your reasons for applying to this programme match what the programme will deliver.


  • Register interest in your chosen subjects
  • Receive notice of graduate open days, events and more
Register now

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