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Quantitative Financial Risk Management

Quantitative Financial Risk Management MSc/Diploma

Duration

This full-time MSc programme lasts for 12 months.

Overview

Risk is the BIG topic that dominates the financial industry, from complying with banking or insurance regulation to making sure the whizz-kids don't blow a hole in the balance sheet with their automated trading strategies.

The MSc in Quantitative Financial Risk Management (QFRM) develops the mathematical skills needed to make sound risk management decisions in the ever-changing financial markets. Graduates with such skills are highly desirable to employers who, typically, have developed their "rocket-science" based pricing systems and now want to focus on managing the risks of using them.

The QFRM MSc is

mathematical, and a good degree in mathematics, or a mathematically based subject, is a pre-requisite.
practical, the emphasis is on the use of mathematics rather than the theory.

Heriot-Watt boasts a leading international research group in financial and actuarial mathematics. Lectures will be given by highly experienced staff at our campus which is set in pleasant grounds in Edinburgh, Scotland's vibrant capital city.

There are strong links between the QFRM MSc and Edinburgh's significant investment industry, with one of the modules actually being taught by industry personnel. The degree is in the process of becoming accredited by the Professional Risk Managers' International Association and some of the courses are also approved by the Institute & Faculty of Actuaries.

In addition, through the Scottish Financial Risk Academy, there are opportunities to do a variety of projects, including dissertations, with risk management professionals working in banking, investment and insurance. Recent industry-lead dissertations include projects with J.P. Morgan, the Royal Bank of Scotland and Aegon Asset Management in such topics as portfolio, credit, liquidity and insurance risk management.

SUBJECTS COVERED

Core modules

Enterprise Risk Management
Derivative Markets and Pricing
Credit Risk Modelling
Financial Markets
Financial Econometrics
Time Series Analysis
Economic Scenario Generation
"Special Topics", some delivered by risk management professionals

Options

Statistical Methods
Corporate Finance

Downloads

Programme brochure for Quantitative Financial Risk Management
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Entry Requirements

Entry requires a UK 2.1 degree or equivalent in Mathematics, Statistics, or a related subject with a substantial mathematics content from a British or overseas university.

We are looking to train those who not only have a strong background in mathematics, but who also possess the ability to communicate effectively, and have the desire to succeed in a dynamic and competitive industry.

The programme is not suitable for finance professionals without graduate-level mathematical training

English language requirements

If your first language is not English, or your first degree was not taught in English, we�ll need to see evidence of your English language ability. The minimum requirement for English language is IELTS 6.5 or equivalent. We offer a range of English language courses to help you meet the English language requirement prior to starting your masters programme: