Develop your knowledge of finance, risk and decision-making in this specialist UK master's course.
MSc Risk and Finance allows you to select the modules you want to study to follow your career goals. This accredited course lets you apply for credits towards professional qualifications, setting you above your competitors.
As part of Southampton Business School you'll get many opportunities to advance your career prospects.
You’ll combine finance, risk and decision-making modules with specialist topics on insurance and credit scoring in our master’s degree in risk and finance. This flexible risk management master's is suited to students who want to pursue a career in risk and finance.
You’ll use credit scoring data and industry-standard software as part of your studies and can explore different topics, including:
Become a master of financial risk management by specialising in finance or insurance subject modules, or you can continue to learn about both areas. This will keep your career options broad or encourage you to focus in one area.
Southampton Business School is a leader in research for banking, finance and risk management. The school provides career-enhancing opportunities like IBM’s Academic Initiative. Risk managers and industry leaders from companies such as Goldman Sachs and PwC, will visit to discuss careers one a one-to-one basis.
We regularly review our courses to ensure and improve quality. This course may be revised as a result of this. Any revision will be balanced against the requirement that the student should receive the educational service expected. Find out why, when, and how we might make changes.
Our courses are regulated in England by the Office for Students (OfS).
Your course leader is Dr Gabriele Lepori, Lecturer in Finance within Southampton Business School. Gabriele is affiliated to the Department of Banking and Finance and is a member of the Centre for Digital Finance (CDF) and the Centre for Empirical Research in Finance and Banking (CERFIB).
Visit Dr Lepori’s staff profile to find out more about his work.
This course is based at Highfield.
This qualification is awarded by the University of Southampton.
The Course Description Document details your course overview, your course structure and how your course is taught and assessed.
You’ll need a 2:1 degree in a subject with quantitative study such as:
Find the equivalent international qualifications for your country.
We do not accept the following subjects:
If English isn't your first language, you'll need to complete an International English Language Testing System (IELTS) to demonstrate your competence in English. You'll need all of the following scores as a minimum:
We accept other English language tests. Find out which English language tests we accept.
If you don’t meet the English language requirements, you can achieve the level you need by completing a pre-sessional English programme before you start your course.
If you don’t meet the academic requirements, you can complete a pre-master's programme through our partnership with ONCAMPUS. Learn more about the programmes available.
If you don't have the exact entry requirements, but you have significant work experience in this sector we’ll assess your relevant professional experience, your subject knowledge and your aptitude for learning.
Your application will be considered on individual merit and you may be asked to attend an interview.
Please contact us if you're not sure you have the right experience or qualifications to get onto this course.
Email: enquiries@southampton.ac.uk
Tel: +44(0)23 8059 5000
This is a full-time master’s course. You’ll study for 12 months, from September to the following September.
In the first 9 months (semesters 1 and 2) you'll study the taught part of your course.
This is made up of modules that everyone on the course takes, and modules we’ll ask you to choose from a list of options. During semester 2 you’ll begin preparing for your dissertation.
For your optional modules, you can choose insurance-focused modules or finance-related modules to advance in one sector, or select a mix to learn about both areas and broaden your career possibilities.
For the last 3 months, over the summer, you’ll work independently to research and write your dissertation. You’ll have one-to-one meetings with your supervisor during this time to discuss your progress.
Want more detail? See all the modules in the course.
The modules outlined provide examples of what you can expect to learn on this degree course based on recent academic teaching. As a research-led University, we undertake a continuous review of our course to ensure quality enhancement and to manage our resources. The precise modules available to you in future years may vary depending on staff availability and research interests, new topics of study, timetabling and student demand. Find out why, when and how we might make changes.
You must study the following modules :
The dissertation stage of your Postgraduate programme involves an extended, independent investigation of a topic of your own choosing and the preparation of a 15,000 word dissertation describing your work. Essentially, the dissertation is a test of your a...
Mainstream finance assumes that people are rational and is mainly concerned with how they should behave when making financial decisions. In this module, instead, we focus on how individuals make financial decisions in practice, and we use insights from ps...
The “Introduction to Finance” module aims to offer a comprehensive introduction to Finance. You will learn various analytical tools to analyse the theory of choice, capital budgeting, asset pricing models, financial risk management, etc. You will also lea...
In this module, the aim is to integrate risk management as part of financial theory and practice. The three main risk concepts in the investment and corporate risk management field are: market risk (times series), credit risk (financial ratings) and opera...
The management of risk and uncertainty, in any organisational context, rests upon a broad-ranging skillset comprising an understanding of relevant concepts and an ability to think critically about management procedures. This ‘front end’ module equips stud...
The ability to make effective decisions in the face of risk and uncertainty is essential to success in today’s fast changing world. This module seeks to equip you with the knowledge of decision-making processes and models that will help you achieve this o...
You must also choose from the following modules :
Introduce concepts of Advanced Corporate Finance, which combines aspects of corporate finance and value-based management. The focus is on understanding the relationships between investments and financing decisions on shareholder value. Analysing these rel...
The module offers a comprehensive introduction to Advanced Time Series Modelling. You will learn various analytical tools to enable you to analyse financial data. The module expects prior skills in data analysis covered by the module Quantitative Finance ...
The module will start by defining the concept of data analytics and demonstrating the processes in three steps: data pre-processing, data mining and post-processing. Next, we will zoom into the data mining step and distinguish three types of data mining:...
The module provides practical insight into the workings of the corporate risk and insurance profession. Emphasising corporate risk management’s strong reliance upon corporate insurance programmes, it also introduces the broader range of risk retention and...
This module aims to provide you with a thorough knowledge of the fixed income securities and techniques available for fixed income securities analysis, together with an understanding of investment data and performance measurement. Emphasis will be placed ...
This module addresses the inter-related activities of defining, developing, exploring and working with ill-structured organisational problems. Such activities are often classed as problem structuring activities, and they can be contrasted with activities...
Project risk management has evolved significantly over many years, but there are conflicting views about what constitutes best practice. This course provides an overview of best practice as outlined in the course text with a critical comparison of alterna...
MANG6003 aims to develop statistical reasoning. Via a series of examples and activities, students are introduced to the idea of probability modelling and how it can be applied to aid decision making in uncertain situations, which are frequently encountere...
The module introduces some widely used quantitative approaches for characterizing uncertainty and risks in finance and management problems. The aim of the module is to introduce a number of widely used techniques for uncertainty and risk management and pr...
This module provides you with the opportunity to engage with econometrics theory focusing, in particular, on analysing financial markets and firms’ investment and financing decisions. The module will systematically prepare you with the necessary skills to...
This module provides a practical introduction to the theories and techniques of simulation. The approach taken is very broad and covers different forms of simulation, including discrete event simulation, system dynamics and agent-based modelling. The mod...
This module provides an introduction to the modern finance theory and its applications to equity investing. It will start by giving a short preamble of the asset classes and stock markets, security analysis, and equity evaluation models. The course will t...
You’ll learn risk and financial management techniques through:
You’ll apply logical and analytical skills in problem-solving activities and class discussions.
Our academics use different teaching methods to help you apply theoretical concepts and to develop essential career-building skills, such as analytical, teamwork and communication.
You’ll also take part in practical computer classes, learning to use industry-standard databases and software such as Bloomberg data, Excel programming tools and MATLAB risk analysis software. Depending on your module selection, you may learn SPSS or SAS Enterprise Miner software.
Modules leaders regularly invite industry practitioners to share their insights with students, keeping you up-to-date with sector issues.
You’ll also be able to attend seminars run by the University’s Centre for Risk Research as well as specialist finance-focused Business School events. These include talks by professionals from finance and insurance companies and leading researchers from other universities.
Each module is assessed by exams, coursework or a combination of both.
Most modules will be individually assessed and some will have a group assessment. Other modules are likely to have a practical computer-based assignment.
As part of this course, you’ll complete a dissertation project on a topic of your choice. This will enable you to specialise in an area of interest and put research skills into practice.
You’ll have a personal academic tutor (PAT) to guide you throughout your studies. The programme leader is also on-hand for course related questions.
The Institute of Risk Management will support you on your dissertation project, by giving advice and data sharing.
You’ll gain the knowledge to pursue a career as an investment banker, fund manager or risk analyst in the financial sector as well as advance your careers prospects in any sector as financial analyst or risk manager.
Popular graduate careers include:
Graduates now work in various fields, including:
Every year, professional risk managers and industry leaders come to discuss careers in the sector with our students. They include representatives from:
In partnership with IBM’s Academic Initiative, we regularly host guest lectures provided by IBM senior managers and facilitate IBM graduate opportunities for our students.
We're a top 20 UK university for employability (QS Graduate Employability Rankings 2022). Our Careers, Employability and Student Enterprise team will support you throughout your time as a student and for up to 5 years after graduation. This support includes:
We have a thriving entrepreneurship culture. You'll be able to take advantage of:
Fees for a year's study:
If you're an international student on a full-time course, we'll ask you to pay £2,000 of your tuition fees in advance, as a deposit.
Your offer letter will tell you when this should be paid and provide full terms and conditions.
Find out about exemptions, refunds and how to pay your deposit on our tuition fees for overseas students page.
Your tuition fee covers the full cost of tuition and any exams. The fee you pay will remain the same each year from when you start studying this course. This includes if you suspend and return.
Find out how to pay your tuition fees.
Accommodation and living costs, such as travel and food, are not included in your tuition fees. There may also be extra costs for retake and professional exams.
Explore:
If you’re a graduate of the University of Southampton, you could be eligible for a 10% discount on your postgraduate tuition fees.
This can help with course fees and living costs while you study a postgraduate master's course. Find out if you're eligible.
A scholarship of £7,000 is available to home fee paying students studying an eligible postgraduate master's at Southampton Business School.
Find out more about the Southampton Business School Postgraduate UK Scholarship, including eligibility and conditions.
A scholarship of £9,000 is available to international students studying for an eligible postgraduate master’s at Southampton Business School.
Find out more about the Southampton Business School Deans Postgraduate Scholarship, including eligibility and conditions.
A scholarship of £3,000 is available to international students studying for an eligible postgraduate master’s at the Southampton Business School.
Find out more about the Southampton Business School Postgraduate International Scholarship, including eligibility and conditions.
A scholarship of £3,000 is available to international students from mainland China, Hong Kong or Macau who are studying for an eligible postgraduate master’s at the Southampton Business School.
Find out more about the Southampton Business Excellence in English Postgraduate International Scholarship, including eligibility and conditions.
A variety of additional funding options may be available to help you pay for your master’s study. Both from the University and other organisations.
Find out about funding you could get as an international student.
For further details, read our step by step guide to postgraduate taught applications.
We’ll ask you to pay a £50 application assessment fee if you’re applying for a postgraduate taught course.
This is an extra one-off charge which is separate to your tuition fees and is payable per application. It covers the work and time it takes us to assess your application. You’ll be prompted to pay when you submit your application which won’t progress until you've paid.
If you're a current or former University of Southampton student, or if you’re applying for certain scholarships, you will not need to pay the fee. PGCE applications through GOV.UK and Master of Research (MRes) degree applications are also exempt. Find out if you’re exempt on our terms and conditions page.
When you apply you’ll need to submit a personal statement explaining why you want to take the course.
You’ll need to include information about:
References are not required for this programme.
Please include the required paperwork showing your first degree and your IELTS English language test score (if you are a non-native English speaker) with your application. Without these, your application may be delayed.
You'll be able to track your application through our online Applicant Record System.
We receive a high volume of applications for this course. This means you may not receive a response to your application for up to 12 weeks.
Unfortunately, due to number of applications we receive, we may not be able to give you specific feedback on your application if you are unsuccessful.
We treat and select everyone in line with our Equality and Diversity Statement.
Please contact us if you're not sure you have the right experience or qualifications to get onto this course.
Email: enquiries@southampton.ac.uk
Tel: +44(0)23 8059 5000
