Risk Management and Financial Engineering MSc
| Program start date | Application deadline |
| 2024-09-01 | - |
Program Overview
The MSc Risk Management & Financial Engineering program at Imperial College Business School is a highly quantitative one-year program that prepares graduates for careers in the financial industry. The program provides a deep, analytical study of risk management and financial engineering, with a focus on the latest academic thinking and business strategies. Graduates will develop specialist skills and subject knowledge through an Applied Project or Research Project, and will have the opportunity to complete a work placement as part of the program.
Program Outline
This highly quantitative one-year 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 also have the option to complete a four-six month work placement (internship) as part of your programme, extending the programme to 16 months and graduating with 120 ECTS.
Outline:
Pre-study modules:
Before the programme begins you will be expected to complete some pre-study modules which are delivered through The Hub, Imperial College Business School’s online learning environment. These modules will be available to students who have accepted an offer of admission from July onwards, and are designed to give you a basic knowledge of areas which will be covered by the programme throughout the academic year. You will study one foundation module in September that introduces the tools of modern finance and enhances your career development skills.
- Foundations in Risk Management & Financial Engineering
Core modules:
You’ll study six core modules 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.
- Empirical Finance: Methods and Applications
- Financial Statistics
- Financial Engineering
- Investments and Portfolio Management
- Risk Management and Valuation You will take either three (if you do the Research Project) or four (if you do the Applied Project) from the following elective modules. All students will be required to take at least one key elective.
- Key electives:
- Advanced Options Theory
- Asset Allocation & Investment Strategies
- Computational Finance with C++
- Credit Risk
- Fixed Income Securities
- Insurance
- Other electives:
- Advanced Financial Statistics
- Applied Trading Strategies
- Banks, Regulation and Monetary Policy
- Big Data in Finance I
- Big Data in Finance II
- Blockchain and Applications
- Climate Finance
- Corporate Finance for Practitioners (international elective)
- Corporate Governance and Stewardship
- Entrepreneurial Finance
- Enterprise Risk Management
- International Finance
- Innovation and Strategy in FinTech
- Introduction to Quantitative Investing (international elective)
- Machine Learning and Finance
- Market Microstructure: Trading and Liquidity
- Real Estate Investment, Finance and Private Equity
- Structured Credit and Equity Products
- Sustainable Investment
- Wealth Management and Alternative Investments
Project:
In the spring and summer terms, you will choose between undertaking two types of projects, in order to develop specialist skills and subject knowledge to benefit your future career. You can either pursue an Applied Project together with an additional elective, or a traditional Research Project.
- Applied Project
- Work Placement
- Research Project This is particularly relevant for (but not exclusive to) internships in France, Germany, and other European countries that require students to have student status for the duration of their internships.
Assessment:
- Case studies
- Continuous assessments
- Essays
- Formal presentations
- Multiple choice tests
- Participation
- Reports
- Written exams
Teaching:
- Case studies
- Equipment/technique demonstrations
- Presentations and seminars
- Group work
- Lectures
- Virtual learning environment
- Lecture recordings
- Practical classes
- Work placement opportunity
- Workshops
Careers:
- Investment banking, asset and investment management, and sales and trading are just some of your options.
- Other potential career paths include corporate or retail banking, hedge funds, M&A, finance, accounting services, research, and private wealth management.
Other:
- We are among a handful of business schools worldwide to achieve triple accreditation:
- Association of MBAs (AMBA)
- Association to Advance Collegiate Schools of Business (AACSB)
- European Quality Improvement System (EQUIS)
- We have also been recognised for our work in tackling gender inequality in higher education with a Bronze Athena SWAN award.
- 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.
- GMAT is not required, but a well-balanced GMAT result with 650 or higher overall and 48/60 or better in the quantitative section will add weight to your application. If you have taken the GRE test, a score of 159 in the quantitative section of GRE will add weight to your application.
- You are also required to have a well-researched career plan with clear short and long term goals.
- Students taking the optional extended work placement must pay a fee of £1500, in addition to the standard course fees.
Tuition fee: £45,400 Extended placement: £46,900 Home Extended placement: £46,900 Overseas
Overview:
Imperial College London is committed to achieving excellence in research and education across science, engineering, medicine, and business, aiming to benefit society through its strategic vision. The college leverages its strong disciplinary foundations, collaborative culture, global partnerships, and top-tier ranking to address significant global challenges through its ambitious strategy, "Science for Humanity."
Mission and Values:
Imperial College London's mission is to harness science and innovation for the greater good, focusing on societal impact. The institution emphasizes interdisciplinary collaboration and aims to nurture talent, drive innovation, and tackle global grand challenges. Core values include a dedication to inquiry, precision, and a scientific mindset that drives understanding and transformation.
Unique Approach:
Imperial College London stands out for its commitment to interdisciplinary research and a comprehensive approach to addressing complex global issues. The college's strategy involves creating new cross-institutional Schools of Convergence Science, focusing on climate, AI, health, and space, among other areas. The Imperial Global network will enhance global collaboration to address grand challenges.
Academic Focus:
Imperial College London emphasizes a strong STEMB focus and interdisciplinary research to address complex challenges. The institution fosters connections across various disciplines and sectors to advance scientific knowledge and societal impact.
Student Life:
The college provides an inspiring environment for scientific inquiry and innovation, offering resources and support for students to explore, dream, and ask significant questions. It maintains a culture of discovery and entrepreneurial thinking.
Meaningful Impact:
Imperial College London operates with the agility and forward-thinking of a startup, pursuing breakthrough science with transformative impact. It is recognized as a trusted partner for research and innovation, contributing to the global landscape through its work in London.
Legacy of London:
Situated in a vibrant global city, Imperial College London benefits from London's energy, creativity, and opportunities, reflecting the city's diverse and dynamic character in its global impact.
Entry Requirements:
- Minimum academic requirement: First or 2:1 in a highly quantitative subject such as Mathematics, Engineering, Economics or Science.
- Footnotes: 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.
- Footnotes: GMAT is not required, but a well-balanced GMAT result with 650 or higher overall and 48/60 or better in the quantitative section will add weight to your application. If you have taken the GRE test, a score of 159 in the quantitative section of GRE will add weight to your application.
- Footnotes: You are also required to have a well-researched career plan with clear short and long term goals.
- English language requirement: All candidates must demonstrate a minimum level of English language proficiency for admission to Imperial. For admission to this course, you must achieve the higher university requirement in the appropriate English language qualification.
- International qualifications: We also accept a wide variety of international qualifications. The academic requirement above is for applicants who hold or who are working towards a UK qualification. If you have any questions about admissions and the standard required for the qualification you hold or are currently studying then please contact the relevant admissions team.
Language Proficiency Requirements:
- All candidates must demonstrate a minimum level of English language proficiency for admission to Imperial.
- For admission to this course, you must achieve the higher university requirement in the appropriate English language qualification.
