Financial Risk Management MSc

London, Bloomsbury

The MSc Financial Risk Management at UCL provides students with advanced knowledge of programming and computing skills in mathematical, statistical, and computational modelling. Students will develop a clear appreciation of different types of risk within the industry, and of the managerial issues related to risk control.

UK students International students
Study mode
Full-time
UK tuition fees (2022/23)
£26,600
Overseas tuition fees (2022/23)
£38,000
Duration
1 calendar year
Programme starts
September 2022
Applications accepted
All applicants: 18 Oct 2021 – 31 Mar 2022

Applications open

Entry requirements

An upper second-class UK Bachelor's degree (or an international qualification of an equivalent standard) in a relevant discipline with a strong quantitative component evidenced by good performance in mathematics and statistics examinations. Good performance is defined as scores in these subjects not falling below a UK upper second-class 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. tatistics, 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

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.

Equivalent qualifications

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. Please note that the equivalency will correspond to the broad UK degree classification stated on this page (e.g. upper second-class). Where a specific overall percentage is required in the UK qualification, the international equivalency will be higher than that stated below. Please contact Graduate Admissions should you require further advice.

About this degree

As a student on the MSc Financial Risk Management, you will learn the core concepts of risk analysis, and develop a high level of skill in quantitative risk management.

Students on this programme will take modules to the value of 180 credits, on successful completion of which they will be awarded MSc in Financial Risk Management.

Who this course is for

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.

What this course will give you

  • 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).
  • UCL Computer Science graduates are highly valued as a result of the department's strong international reputation, strong links with industry, and ideal location close to the City of London.
  • The programme team takes 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.

The foundation of your career

Many alumni from this programme have pursued careers in the accountancy and financial services sectors, and others in banking and investment, IT, technology and telecoms, publishing, journalism and translation, consultancy, logistics and distribution.

Employers include Credit Suisse and Deutsche Bank, Bloomberg, China Development Bank, Deloitte, Ernst & Young, Google, JP Morgan, Moody’s Analytics, People’s Bank of China, PriceWaterhouseCoopers, Santander, Standard Chartered Bank, and Royal Bank of Scotland.

Employability

The programme is designed to equip you with mathematical, statistical and computational skills, which are highly sought after by the financial industry to assess, quantify, model, simulate and edge risk.

Teaching and learning

You will be assessed through a range of methods across the programme, which will vary depending on any optional or elective module choices. The programme’s core curriculum is typically assessed by methods including coursework, lab work, individual and group projects, class tests, written examinations, oral assessments, and, in all cases, culminating in a final research project/ dissertation.

Contact time takes a variety of forms, including lectures, seminars, tutorials, project supervisions, demonstrations, practical classes and workshops, visits, placements, office hours (where staff are available for consultation), email, videoconference, or other media, and situations where feedback on assessed work is given (one-to-one or in a group).

Each module has a credit value that indicates the total notional learning hours a learner will spend on average to achieve its learning outcomes. One credit is typically described as being equal to 10 hours of notional learning, which includes all contact time, self-directed study, and assessment.

The contact time for each of your 15 credit taught modules will typically include 22-30 hours of teaching activity (classroom based and/ or online) over the term of its delivery, with the balance then comprised of self-directed learning and working on your assessments. You will have ongoing contact with teaching staff via each module’s online discussion forum, which is typically used for discussing and clarifying concepts or assessment matters, and will have the opportunity to access additional support via regular office hours with module leaders and programme directors.

Your research project/ dissertation module is 60 credits and will include regular contact with your project supervisor(s), who will guide and support you throughout your project. You will dedicate most of your time on this module to carrying out research in connection with your project and writing up your final report.
 

Modules

Full-time

The MSc Financial Risk Management is a one-year programme.

In term 1, you will study topics that introduce you to the applied mathematical and computational aspects of quantitative finance, probability theory, stochastic processes and their applications, and key concepts and models of asset pricing, portfolio theory, and risk measurement. You will choose from a range of optional topics, which may include numerical methods, market microstructure, operational risk management, financial institutions and markets, and digital finance.

In term 2, you study topics that introduce you to the instruments used to analyse, characterise, validate, parametrise, and model complex financial datasets. You will choose from a range of optional topics, which may include algorithmic trading, applied computational finance, machine learning with applications in finance, networks and systemic risk, quantitative modelling of operational risk and insurance analytics, and blockchain technologies. You will also begin preparation for your final research project/ dissertation.

In term 3, you will primarily focus on your final research project/ dissertation and any examinations that take place in the main examination period.

Part-time

Not applicable.

Flexible

Not applicable.

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.

Students undertake modules to the value of 180 credits. Upon successful completion of 180 credits, you will be awarded an MSc in Financial Risk Management.

Fieldwork

Not applicable.

Placement

Not applicable.

Accessibility

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

Online - Open day

UCL Global Business School for Health MSc Showcase

Fees and funding

Fees for this course

UK students International students
Fee description Full-time
Tuition fees (2022/23) £26,600
Tuition fees (2022/23) £38,000

The tuition fees shown are for the year indicated above. Fees for subsequent years may increase or otherwise vary. Where the programme is offered on a flexible/modular basis, fees are charged pro-rata to the appropriate full-time Master's fee taken in an academic session. Further information on fee status, fee increases and the fee schedule can be viewed on the UCL Students website: ucl.ac.uk/students/fees.

Additional costs

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.

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

Some students run Linux on their PCs while others run Windows with Linux Virtual Machines installed.

Not applicable.

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

Funding your studies

For more information about funding opportunities for Department of Computer Science taught postgraduate programmes, please see the department's scholarships webpage.

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

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.

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 Application fees.

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.

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.

Please note that you may submit applications for a maximum of two graduate programmes in any application cycle.

UCL is regulated by the Office for Students.

This page was last updated 28 Sep 2021