Postgraduate taught 

Financial Risk Management MSc

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This programme focuses on the risk management and the quantification of several types of risk such as financial, including market risk and some elements of liquidity and counterpart risk.

  • MSc: 12 months full-time

Why this programme

  • Financial Risk Management will provide you with a thorough understanding of
    • advanced econometric analysis
    • theories of risk, including bond market interest rate determination,  market risk, liquidity risk and counterpart risk
    • the role and impact of financial regulations.
  • It will equip you with up to date risk management skills for the quantification of risk and the optimal asset allocation. These skills are essential for managing and hedging market, credit and interest rate risks.
  • You will have access to statistical packages, such as MATLAB and EViews, and a dedicated computer lab that will enable you to put theory into practice.

Adam Smith Business School is triple accredited

Programme structure

You will take four core and two optional courses and complete a substantial independent piece of work, normally in the form of a dissertation. Teaching is based on lectures which also allow opportunities for class discussion. Technical subjects are supported by weekly or fortnightly small tutorials which provide opportunities for you to engage with some issues or questions in a group format. Some courses also involve lab sessions using specialised software.

Core courses

  • Basic econometrics*
  • Economic fundamentals and financial markets 
  • Financial markets, securities and derivatives 
  • Financial risk analysis.

Sample optional may include

  • Advanced portfolio analysis (Portfolio analysis and investment is a co-requisite for this course)
  • Applied computational finance
  • C++ in Finance (Mathematical finance is a co-requisite for this course)
  • Corporate finance and investment
  • Corporate finance theory
  • Empirical asset pricing
  • Financial derivatives (Mathematical finance is a co-requisite for this course)
  • Financial market micro structure
  • Financial services 
  • Game theory with applications in economics and finance
  • Hedge fund risk management
  • International finance and money 
  • Mathematical finance
  • Modelling and forecasting financial markets
  • Portfolio analysis and investment.

*If you have a strong background in econometrics you can swap this course with Modelling and forecasting financial markets.

Programme alteration or discontinuation
The University of Glasgow endeavours to run all programmes as advertised. In exceptional circumstances, however, the University may withdraw or alter a programme. For more information, please see: Student contract.

Career prospects

As a graduate you will be qualified to work in risk management, asset management companies, hedge funds, wealth management banks and central banks. Graduates have found employment with companies such as Morgan Stanley, HSBC, KPMG, and the Royal Bank of Scotland. We have a dedicated careers and employability team who provide 1-2-1 support and advice, group workshops, employer events on campus and networking opportunities throughout the year to help you with your career prospects.

Fees and funding

Tuition fees for 2019-20

MSc

Home and EU

  • Full-time fee: £12000

International

  • Full-time fee: £27670

For applicants starting in 2018 please refer to the 2018-19 fees table.

Fee information is subject to change and is for guidance only

Deposits

International applicants (from beyond the EU) are required to pay a deposit of £2000 when an offer is made.

Deposits terms & conditions

The University requires a deposit to be paid by International (beyond the EU) applicants in receipt of an offer to this programmes and who require a Certificate of Acceptance for Studies (CAS) from the University in order that they can apply for a student visa. This is required where the programme is competitive and the deposit is required in order to demonstrate your commitment to attend the programme should you meet all the conditions of your offer.

If you are made an offer for this programme the University will write to you and request a deposit with information on how to pay your deposit and the deadline for making the deposit payment. Please note that if you are unable to pay a deposit because you are planning to fund your studies through an official financial sponsor then you should upload a copy of your scholarship application or award letter to your application by the deadline date.

The following guidelines will apply in determining whether or not a deposit will be refunded. Where the deposit is refunded, a 10% handling fee will be deducted.

Deposits WILL be refunded to applicants under the following circumstances:

  1. Where the University is unable to offer you a place.
  2. Where the applicant has personal circumstances such as illness, bereavement or other family situations that has prevented them coming to the UK. Medical or other proof may be requested.
  3. Applicant can prove that they have applied for a visa to attend the University of Glasgow, but the VISA has been refused. The applicant must have shown ‘real intent' to study at the University of Glasgow but has been unable to obtain their visa.
  4. Applicant does not meet his / her conditions of offer: this may be academic or language test requirements. Satisfactory evidence must be uploaded to the student’s online application to prove that they have not met the conditions of their offer (note that applicants who do not meet the language condition of their offer must show reasonable attempt to meet this, i.e. they must provide a language test which was taken after the date that the deposit was paid).

Deposits WILL NOT be refunded to applicants under the following circumstances:

  1. Applicant decides to go to another institution.
  2. Applicant cannot be released from work to study at the University of Glasgow.
  3. Applicant does not send completed documentation as requested in the condition of the offer: this may be required in order to prove that the offer has not been met for academic or language test conditions - failure to respond to requests for this information will result in no refund.
  4. Applicant has not secured funding to attend the University of Glasgow: this may be as a result of not being successful in applications for scholarships, OR simply not having sufficient funds in bank at time of visa application. This condition will apply unless it can be proven that there are clear mitigating circumstances which have significantly changed the applicant’s position since the time of application.
  5. Applicant has decided to defer – in this situation the University will retain the deposit and credit it against the applicant’s account for securing their place for the following year of entry. 

Refund requests must be made within 60 days of the programme start date stated on your offer letter: requests made after this date will be subject to discretion.


Additional fees

  • Fee for re-assessment of a dissertation (PGT programme): £360
  • Submission of thesis after deadline lapsed: £320
  • Registration/exam only fee: £150

Funding opportunities

Adam Smith Business School Excellence Awards

The University of Glasgow has a number of Adam Smith Business School Excellence scholarships available for 2018 entry to students entering the Adam Smith Business School. The scholarship is awarded as a tuition fee discount. 

More Information

Adam Smith Business School Excellence Awards (UK/EU)

The University of Glasgow has a number of Adam Smith Business School Excellence awards available for 2018 entry for students who demonstrate academic excellence. The Award is available to students entering the Adam Smith Business School and are awarded as a tuition fee discount.

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ESRC SDS Collaborative Studentship: Explaining employer engagement with apprenticeships

Available to study a PhD in the Adam Smith Business School in the College of Social Sciences under the supervision of Professor Melanie Simms (Management, Adam Smith Business School)

Level of Study PhD (or 1+3 – Masters then a PhD)

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University of Glasgow/Glasgow International College Achievement Award

In conjunction with GIC we are pleased to reward our best-performing students who finish the Foundation or Pre-masters course with excellent grades and attendance. This is awarded as a one off tuition fee discount of £3,000

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University International Leadership Scholarship

The University of Glasgow has 19 International Leadership Scholarships available to international (non-EU) students starting a postgraduate taught Masters programme in any discipline in September. The scholarship is awarded as a tuition fees discount.

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University of Glasgow African Excellence Fee Waiver

For September 2018 academic session we are offering 10 scholarship worth the full tuition fee of a one year Masters programme to offer holders from Africa.

If you study here you will benefit from our extensive  knowledge, state-of-the-art facilities and pioneering teaching methods. Studying at Glasgow will prepare you for a wide variety of careers that are in demand internationally and also for future research and study.

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Humanitarian Scholarships

The University of Glasgow is offering 4 scholarships (one per college) for applicants to the University who are staying in the UK on humanitarian grounds and are facing challenges in progressing onto Higher Education. The scholarship is open to prospective undergraduate and postgraduate students of the University of Glasgow applying for entry in 2019. The scholarship meets the full cost of tuition fees for the duration of your programme as well providing an additional £5,000 per year stipend, if the eligibility criteria for university accommodation is met this will also be provided for the duration of your degree. For more information on the accommodation criteria please see the Residential Services section on the website.

We are also offering 4 scholarships to students who hold refugee status. This scholarship is awarded as a £5000 per year stipend toward living costs per year of study.

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University of Glasgow Chancellors Award

The University of Glasgow has a total of 19 Chancellors Awards available. The Award is available to students entering any of the University’s Colleges and are awarded as a tuition fee discount.

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PGT Excellence Scholarship

The University of Glasgow has a total of 28 PGT Excellence Awards available to UK and EU Students. Scholarships are available to students entering any of the University’s colleges and are awarded as a tuition fee discount.

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Alumni Discount

The University offers a 10% discount on all Postgraduate Research and full Postgraduate Taught Masters programmes to its alumni. This includes University of Glasgow graduates and those who have completed a Study Abroad programme or the Erasmus Programme at the University of Glasgow. The discount applies to all full-time, part-time and online programmes.

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Master's Loan England only

If you’re starting a master’s degree, you could get a Postgraduate Master’s Loan of up to £10,609 to help with course fees and living costs. You have to repay your Postgraduate Master’s Loan at the same time as any other student loans you have. You’ll be charged interest from the day you get the first payment.

If you’re studying by distance learning, you can also apply.

Examples of postgraduate master’s qualifications include:

  • MSc (Master of Science)
  • MA (Master of Arts)
  • MPhil (Master of Philosophy)
  • MRes (Master of Research)
  • LLM (Master of Law)
  • MLitt (Master of Letters)
  • MFA (Master of Fine Art)
  • MEd (Master of Education)
  • MBA (Master of Business Administration)

If you plan to study for Master of Architecture (MArch) or an Integrated Master’s qualification, you should apply for undergraduate support

More Information

Postgraduate Talent Scholarships

The University of Glasgow awards Postgraduate Talent Scholarships each academic year to support students who could face financial difficulties in taking up their place to study at the University. The value of each scholarship is £2,000 and they are for students undertaking a one or two year Taught Masters programme, in any of the University’s Colleges. For two year Taught Masters programmes, the scholarship is available in year one only. 

More Information

The scholarships above are specific to this programme. For more funding opportunities search the scholarships database

Entry requirements

2.1 Honours degree or non-UK equivalent in economics, finance, engineering, physics, or another highly mathematical discipline.

International students with academic qualifications below those required should contact our partner institution, Glasgow International College, who offer a range of pre-Masters courses.

English language requirements

For applicants whose first language is not English, the University sets a minimum English Language proficiency level.

International English Language Testing System (IELTS) Academic module (not General Training):

  • overall score 6.5
  • two sub-tests no less than 6.5, no sub-test less than 6.0
  • or equivalent scores in another recognised qualification:

Common equivalent English language qualifications

All stated English tests are acceptable for admission for both home/EU and international students for this programme:

  • ibTOEFL: 90; no sub-test less than:
    • Reading: 20
    • Listening: 19
    • Speaking: 19
    • Writing: 23
  • CAE (Cambridge Certificate of Advanced English): 176 overall; no sub-test less than 169
  • CPE (Cambridge Certificate of Proficiency in English): 176 overall; no sub-test less than 169
  • PTE Academic (Pearson Test of English, Academic test): 60; no sub-test less than 59
  • Trinity College London Integrated Skills in English: ISEII at Distinction with Distinction in all sub-tests

For international students, the Home Office has confirmed that the University can choose to use these tests to make its own assessment of English language ability for visa applications to degree level programmes. The University is also able to accept an IELTS test (Academic module) from any of the 1000 IELTS test centres from around the world and we do not require a specific UKVI IELTS test for degree level programmes. We therefore still accept any of the English tests listed for admission to this programme.

Pre-sessional courses

The University of Glasgow accepts evidence of the required language level from the English for Academic Study Unit Pre-sessional courses. We also consider other BALEAP accredited pre-sessional courses:

FAQs

What do I do if...

my language qualifications are below the requirements?

The University's English for Academic Study Unit offers a range of Pre-Sessional Courses to bring you up to entry level. The course is accredited by BALEAP, the UK professional association for academic English teaching; see Links.

my language qualifications are not listed here?

Please contact the Recruitment and International Office: pgadmissions@glasgow.ac.uk


 

For further information about English language requirements, please contact the Recruitment and International Office: pgadmissions@glasgow.ac.uk

International students

We are proud of our diverse University community which attracts students and staff from over 140 different countries. Find out more about visa requirements, and the support we offer:

How to apply

To apply for a postgraduate taught degree you must apply online. We cannot accept applications any other way.

Please check you meet the Entry requirements for this programme before you begin your application.

Documents

As part of your online application, you also need to submit the following supporting documents:

  • A copy (or copies) of your official degree certificate(s) (if you have already completed your degree)
  • A copy (or copies) of your official academic transcript(s), showing full details of subjects studied and grades/marks obtained
  • Official English translations of the certificate(s) and transcript(s)
  • One reference letter on headed paper
  • Evidence of your English Language ability (if your first language is not English)
  • Any additional documents required for this programme (see Entry requirements for this programme)
  • A copy of the photo page of your passport (Non-EU students only)

You have 42 days to submit your application once you begin the process.

You may save and return to your application as many times as you wish to update information, complete sections or upload supporting documents such as your final transcript or your language test.

For more information about submitting documents or other topics related to applying to a postgraduate taught programme, check Frequently Asked Questions

Guidance notes for using the online application

These notes are intended to help you complete the online application form accurately; they are also available within the help section of the online application form. 

If you experience any difficulties accessing the online application then you should visit the Application Troubleshooting/FAQs page.

  • Name and Date of birth: must appear exactly as they do on your passport. Please take time to check the spelling and lay-out.
  • Contact Details: Correspondence address. All contact relevant to your application will be sent to this address including the offer letter(s). If your address changes, please contact us as soon as possible.
  • Choice of course: Please select carefully the course you want to study. As your application will be sent to the admissions committee for each course you select it is important to consider at this stage why you are interested in the course and that it is reflected in your application.
  • Proposed date of entry: Please state your preferred start date including the month and the year. Taught masters degrees tend to begin in September. Research degrees may start in any month.
  • Education and Qualifications: Please complete this section as fully as possible indicating any relevant Higher Education qualifications starting with the most recent. Complete the name of the Institution (s) as it appears on the degree certificate or transcript.
  • English Language Proficiency: Please state the date of any English language test taken (or to be taken) and the award date (or expected award date if known).
  • Employment and Experience: Please complete this section as fully as possible with all employments relevant to your course. Additional details may be attached in your personal statement/proposal where appropriate.

Reference: Please provide one reference. This should typically be an academic reference but in cases where this is not possible then a reference from a current employer may be accepted instead. Certain programmes, such as the MBA programme, may also accept an employer reference. If you already have a copy of a reference on letter headed paper then please upload this to your application. If you do not already have a reference to upload then please enter your referee’s name and contact details on the online application and we will contact your referee directly.

Application deadlines

International applications (non-EU) deadline

  • Applications are now closed.


UK and EU Application deadline

  • 25 August 2018

Classes start September 2018 and you may be expected to attend induction sessions the week before.

Application fee

A fee of £25 per application must be paid by all applicants to this programme. The application fee will be requested when you apply online and it can be paid using your credit or debit bank card.

Application fee: Terms and conditions

The application fee is non-refundable so it is important that you check any specific entry requirements for the programme. If you are applying with qualifications from outside the UK then you should check the postgraduate taught entry requirements for your country: see International students: In your country

Applicants who are sponsored may have the application fee waived at the point of applying online. However if the sponsorship status changes before the student registers with the University and the student is self-funding the University reserves the right to invoice the student for the initial application fee.

Find out more about Application fees


Apply now

More information about this programme