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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.

Covid-19 programme updates

Due to COVID-19, there may have been updates to this programme for the 2020 academic year. Where there has been an update, these are indicated with a red alert and a link which will provide further information.

Key information

Programme starts

September 2020

Modes and duration

Full time: 1 year

Application dates

All applicants
Open: 1 November 2019
Due to the large number of applications received, this programme is closed as of 30 June 2020.

Tuition fees (2020/21)

UK/EU:
£21,010 (FT)
Overseas:
£32,250 (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

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:

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 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 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)
  • Financial Institutions and Markets (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.

Covid-19 module updates
Due to COVID-19, there may be updates to the modules for your chosen programme of study this year. Some modules may not be available or may need to be moved to a later term or year of study. These updates are relevant for 2020-21 academic year only.  The full list of modules will be available in the module catalogue from late August.  From the first week of September, you will be invited to complete module selection from Portico, our student record system. There may need to be additional updates or changes to modules during the academic year to allow for new guidance from the UK Government and Public Health England. Your department shall keep you updated of these changes as they become available.

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 work placement in an industry environment organised by the department.


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.

Covid-19 contact hours on campus
In Term One, while campus will be open, all the learning activity for the core content of your modules will take place online – including lectures, tutorials, seminars and assessments. By “core content” we mean everything you need to learn to complete the module successfully. In addition to these online contact hours, we will be offering some face-to-face educational activities for students on campus, and we will provide alternative online activities for those students unable to join us on campus. These activities, which will include contact with academic staff, will be relevant to your programme of study may include seminars, academic and employability skills workshops, small-group or individual tutorials, lab and practice-based teaching. UK Government safety guidelines will limit the amount of ‘in person’ activity we can offer and while it will vary from programme to programme, is likely to be no more than 1-2 hours per week. This will vary across departments, particularly if your programme includes laboratory/practical/studio/workshop sessions. You will be updated with more specific details as they are available and your timetable will indicate which sessions will be on campus and which will be available online.
Covid-19 assessment updates
There may be changes to the format of assessments for modules in this programme due to COVID-19. These will be summarised for each module on the module catalogue from 17 August 2020.   If any changes to assessments need to be made during the academic year due to updates in government guidance, these will be communicated to you as soon as possible from your department.    
Communicating further Covid-19 mitigation plans
We are continuing to follow UK Government guidance, as well as the expertise of our researchers, including specialists in health, education, human behaviour and infection prevention, to make sure UCL is as safe as possible during the COVID-19 pandemic. If it becomes necessary to make further changes to your programme as a result of new guidance/regulations, UCL and your department will communicate these as soon as this becomes clear. We will keep you up-to-date with our plans throughout term one, so you have the information you need to be able to take decisions that are right for your circumstances. Please ensure that you keep in touch with your department by regularly checking your UCL emails, Moodle courses, the Coronavirus FAQs for Students page and any UCL online groups or social media you follow.

Additional costs

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 and Funding pages: https://www.ucl.ac.uk/computer-science/study/scholarships

Scholarships relevant to this department are displayed below.

Brown Family Bursary

Note:
This scheme is now closed for 2020/21
Value:
£15,000 (1 year)
Eligibility:
UK
Criteria:
Based on both academic merit and financial need

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

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.

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 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.

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 £80 for online applications and £105 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

Due to the large number of applications received, this programme is closed as of 30 June 2020.

Applications close on 14 June 2019, 17:00. Due to competition for places on this programme, no late applications will be considered.


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 18 August 2020