MSc Risk Management & Financial Engineering
Imperial College Business School
About this program
MSc Risk Management & Financial Engineering
MSc Risk Management & Financial Engineering is a highly quantitative one-year programme, designed to prepare recent graduates for careers in financial engineering and risk management. The programme, which is accredited by the Professional Risk Managers' International Association (PRMIA), is designed for technically-minded graduates who want a deep, analytical study of risk management and financial engineering.
You will learn how to put the latest academic thinking and business strategies into practice from leading practitioners and world class faculty, giving you a thorough and hands-on understanding of risk management.
Our London location and ongoing relationships with major employers in the finance sector provides the opportunity to meet and network with leading global organisations, and will help present yourself with confidence to the world's top companies.
During the programme, you will use and have access to Bloomberg terminals, Reuters Eikon, Datastream, Matlab and two bespoke computer labs.
Admission requirements
To apply for MSc Risk Management & Financial Engineering you should have a First or Upper Second Class Honours undergraduate degree from a recognised university or the international equivalent in a quantitative discipline such as:
- Mathematics
- Engineering
- Science
- Economics
Whilst there are no specific 'A' Level criteria, you should be aware that many banks and companies in the financial sector do have very strict grade requirements for their graduate programmes. We strongly recommend that you research the entry requirements of any companies you are interested in working for.
Prerequisite knowledge requirements
MSc Risk Management & Financial Engineering is a highly quantitative programme and therefore all students commencing the programme are expected to be proficient in probability, calculus, matrix algebra and real analysis.
You should use the Quantitative Experience Statement' on the application form to list the most advanced quantitative courses that you have taken in your academic career to date and to provide brief examples of the relevant topics covered by the programme.
Most applicants meet the requirement in one of the following ways:
- IELTS (academic): A minimum score of 7.0 with minimum scores of 6.5 in all elements. The IELTS indicator test will be accepted for admissions to the 2020/21 academic year.
- TOEFL iBT: A minimum score of 100 overall with minimum scores of 22 in all elements. The ETS at Home test will be accepted for admission to the 2020/21 academic year.
- Duolingo English Test: 125 Overall with no less than 115 in any band score
- Degree studied in and awarded by an English-speaking country and successful performance in an English language interview, conducted by the Business School's Global Skills Consultants, which would be arranged if you receive an offer.
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Learn moreProgram content
You'll study six core modules, an additional VBA module which will provide you with comprehensive and systematic training in the mechanisms and techniques involved in quantitative financial modelling and an online module in Ethics and Professional Standards in Finance. The core modules are taught through lectures, interspersed with quantitative case studies allowing students to work on real-world problems faced by financial firms, using extensive data sets and computer programs.
Financial Statistics
Technical work in financial institutions frequently involves the analysis of data. This core module will ensure you have a solid foundation in statistical inference and econometrics, with particular emphasis on the special features that are prevalent in finance and in the management of financial risks.
Investments and Portfolio Management
This module provides you with a critical understanding of techniques used for investments and portfolio management. The module is accompanied by case studies and realistic practical examples that you will solve each week using R. By the end of the module you'll be able to implement trading strategies and portfolio construction methods in a wide range of assets.
Risk Management and Valuation
This module covers the identification of categories of risk faced by financial institutions such as credit, market, liquidity, operational, reputational risks.
Stochastic Calculus
Quantitative finance is based on the mathematical analysis of stochastic processes. This module offers a practice-oriented introduction into the body of mathematical theory that is used to analyse the dynamics of asset prices. By the end of the module you will have a solid grounding in the field.
Empirical Finance: Methods and Applications
This module introduces you to more complex econometric techniques which are an essential part of modern advanced empirical research. You will be able to analyse data from any source using a wide variety of techniques.
Financial Engineering
This module will cover financial engineering - the use of mathematical and computational methods to make trading, hedging and investment decisions.
Ethics and Professional Standards in finance (Online Module)
This online module aims to introduce you to corporate responsibility and professional standards for financial analysts. You will be taken through a review of the key factors and responsibilities for ethical practice in finance. At the end of the module, you will have a compulsory test, which must be passed before you can be awarded the MSc.
Visual Basic for Applications (VBA)
This module will introduce you to the programming language Visual Basic for Applications (VBA) for Microsoft Excel. It covers introductory and intermediate topics to equip students with the basic skills necessary to create VBA projects and more advanced topics of data manipulation and visual interfaces. The module assumes little or no programming language experience.
Scholarships & funding
Several scholarship options are available. Please visit the institute website for more information.
Tuition
The cost of tuition for this program is £42,200 for all students.
Career paths
Graduates are typically employed in risk management, sales and trading, corporate or retail banking, financial engineering, financial technology and consulting/advisory.
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Imperial College Business School
At Imperial College Business School, we offer undergraduate, postgraduate and MBA programs to inspire intelligent and creative minds from a diverse range of backgrounds to be the world’s future business leaders. As part of Imperial College London, a global leader...
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