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| Level | Credits | Term | Type |
|---|---|---|---|
| 6 or 7 | 15 | 2 | Departmental |
Module description
This module aims to develop a practical understanding of operational risk modelling in both the banking and insurance sectors under the Basel II/III and Solvency II regulatory frameworks.
Further details are available in the STAT0020 UCL Module Catalogue entry.
Prerequisite knowledge
STAT0020 is primarily intended for students within the Department of Statistical Science (including the MASS programmes). For these students, the academic prerequisites for this module are met either through earlier compulsory study within (UG) or successful admission to (PGT) their current programme.
For outside students, the following modules are considered a sufficient alternative prerequisite: one of ECON0019 or MATH0057 or SESS0023
Registration process
STAT0020 is specified as a formal option within the MSc Financial Mathematics and MSc Financial Risk Management programmes. Students from these programmes should simply register for STAT0020 on Portico and await a decision. It is not necessary to register separately with a member of staff in the Department of Statistical Science (successful admission to the programme already demonstrates that the prerequisites can be met).
STAT0020 is also offered as an elective. Prospective elective students who have taken one of the alternative prerequisite modules listed above should simply register for STAT0020 on Portico and await a decision. Prospective elective students who have taken courses equivalent to the listed modules must additionally consult a member of staff in the Department of Statistical Science.
Other considerations
Besides the required module in introductory probability and statistics, it is preferable for a student to have some basic experience in either Matlab, Python or R.