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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

Programme starts

September 2021

Modes and duration

Full time: 1 year

Application dates

All applicants
Open: 9 November 2020
Close: 4 June 2021

Tuition fees (2021/22)

UK:
£25,800 (FT)
Overseas:
£36,900 (FT)


Note on fees: The tuition fees shown are for the year indicated above. Fees for subsequent years may increase or otherwise vary. Further information on fee status, fee increases and the fee schedule can be viewed on the UCL Students website.

Fee deposit: All full-time students are required to pay a fee deposit of £2,000 for this programme. All part-time students are required to pay a fee deposit of £1,000.

Location: London, Bloomsbury

Entry requirements

An upper second class UK Bachelor's degree (or equivalent overseas qualification) in a relevant discipline with a strong quantitative component evidenced by good performance in mathematics and statistics exams. Good performance is defined as scores in these subject not falling below a UK 2.1, or international equivalent level). There is not an exhaustive list of relevant disciplines, but individuals with a background mathematics, statistics, physics, computer science, engineering, economics and finance are encouraged to apply.

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

Pre-Master's and Pre-sessional English

UCL Pre-Master's and Pre-sessional English courses are for international students who are aiming to study for a postgraduate degree at UCL. The courses will develop your academic English and academic skills required to succeed at postgraduate level. International Preparation Courses

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:

About this degree

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 issues related to risk control.

Students undertake modules to the value of 180 credits.

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

Upon successful completion of 180 credits, you will be awarded a MSc in Financial Risk Management.

Please note that the list of modules given here is indicative. This information is published a long time in advance of enrolment and module content and availability is subject to change.

Compulsory modules

  • Financial Data and Statistics (15 credits)
  • Financial Engineering (15 credits)
  • Market Risk, Measures and Portfolio Theory (15 credits)
  • Probability Theory and Stochastic Processes (15 credits)
  • MSc Financial Risk Management Project (60 credits)

Optional modules

Students choose 60 credits from the optional group.

  • Algorithmic Trading (15 credits)
  • Applied Computational Finance (15 credits)
  • Blockchain Technologies (15 credits)
  • Digital Finance (15 credits)
  • Financial Institutions and Markets (15 credits)
  • Financial Market Modelling and Analysis (15 credits)
  • Machine Learning with Applications in Finance (15 credits)
  • Market Microstructure (15 credits)
  • Networks and Systemic Risk (15 credits)
  • Numerical Methods for Finance (15 credits)
  • Operational Risk Measurement for Financial Institutions (15 credits)
  • Quantitative Modelling of Operational Risk and Insurance Analytics (15 credits)

Please note: the availability and delivery of optional modules may vary, depending on your selection.

Dissertation/report

Students undertake modelling, research and data analysis which takes place over the summer placement. This forms the basis of the 10,000-word dissertation.

Placement

Students can undertake a summer project organised by the department. This is typically done in collaboration with an industrial partner.


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.

Additional costs

Students will require a modern laptop (PC or Mac).  The minimum specifications should be 8GB RAM and 500GB SSD storage.  A laptop with the stated specifications will cost approximately £500.

For more information on additional costs for prospective students please go to our estimated cost of essential expenditure at Accommodation and living costs.

Accessibility

Details of the accessibility of UCL buildings can be obtained from AccessAble. Further information can also be obtained from the UCL Student Support & Wellbeing team.

Funding

For more information about funding opportunities for Department of Computer Science postgraduate programmes, please see the departmental Scholarships page.

For a comprehensive list of the funding opportunities available at UCL, including funding relevant to your nationality, please visit the Scholarships and Funding website.

Careers

The latest survey supplied by UCL Careers in 2019 show that 78% of the alumni were employed in the Accountancy and Financial Services industry sector, and the rest in Banking and Investment, IT, Technology and Telecomms, Publishing, Journalism & Translation, Consultancy, Logistics and Distribution. The top employers are Credit Suisse and Deutsche Bank (about 8% each); others include Bloomberg, China Development Bank, Deloitte, Ernst & Young, Google, JP Morgan, Moody’s Analytics, People’s Bank of China, PriceWaterhouseCoopers, Santander, Standard Chartered Bank, Royal Bank of Scotland.

Employability

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 UCL MSc Financial Risk Management programme has been ranked 6th in Europe and 20th in the world by Risk.net's Quant Finance Master's Guide 2020.

UCL received the highest percentage (96%) for quality of research in Computer Science and Informatics in the UK's most recent Research Excellence Framework (REF2014).

Over the years, the three most relevant university rankings (QS, THE, ARWU) have consistently classified UCL among the top 5 universities in Europe and the top 20 universities in the world.

UCL Computer Science hosts the Centre for Doctoral Training in Financial Computing and Analytics, which is the only one of its kind in the UK.

UCL's central London location is ideally close to one of the world's most important financial centres, with which UCL pioneers industrial/academic engagements. Students of the MSc Financial Risk Management programme will benefit from teaching by practicioners in the City of London and summer projects done within placements at financial companies and organisations based in London.

Department: Computer Science

Application and next steps

Applications

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.

There is an application processing fee for this programme of £90 for online applications and £115 for paper applications. Further information can be found at: www.ucl.ac.uk/prospective-students/graduate/taught/application.

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
4 June 2021

Due to competition for places on this programme, no late applications will be considered. Students with visa requirements or applying for scholarships are advised to apply early.


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.

UCL is regulated by the Office for Students.

Page last modified on 20 November 2020