About this course
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.
Our MSc risk management degree is accredited by the Chartered Insurance Institute and Institute of Risk Management. This means you can apply for credits towards professional risk management qualifications.
You’ll use credit scoring data and industry-standard software as part of your studies and can explore different topics, including:
- stock market analysis
- simulation modelling
- credit risk
- enterprise risk management
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.
Your course leader is Dr Ian G Dawson, Associate Professor of Risk Management the Director of the Centre for Risk Research at Southampton Business School. He’s a chartered psychologist and is particularly interested in how a person’s understanding of risk can affect their decision making. Visit Dr Dawson’s staff profile to find out more about his work.
MSc Risk and Finance Taster Lecture
This course is based at Highfield.
This qualification is awarded by the University of Southampton.
Download the programme specification
The programme specification sets out the learning outcomes of this course and details how the 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:
- Language Studies – degrees that focus on learning a language or how to translate, such as 'Business English', 'Applied English', or 'Translation', are not acceptable. However, this restriction does not apply to ‘English’ and ‘English literature’ degrees of the kind taught in the UK.
- Art/Design/Vocational Studies – degrees that focus on learning a particular form of art, craft or vocation. These include degrees in art, graphic design, photography, television broadcasting, script writing, or performance/dance.
English language requirements
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:
IELTS score requirements
- overall score
We accept other English language tests. Find out which English language tests we accept.
Recognition of professional experience
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.
Got a question?
Please contact us if you're not sure you have the right experience or qualifications to get onto this course.
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.
For entry in Academic Year 2021-22
Year 1 modules
You must study the following modules:
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 ...
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 ...
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 ...
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...
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...
Learning and assessment
You’ll learn risk and financial management techniques through:
- group work
- case studies
- private study
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:
- fund manager
- risk officer
- financial risk manager
- financial manager
- financial analyst
- investment banker
Graduates now work in various fields, including:
- mutual and hedge funds
- risk management
- business security
Every year, professional risk managers and industry leaders come to discuss careers in the sector with our students. They include representatives from:
- Goldman Sachs
- The Chartered Insurance Institute
- Old Mutual Wealth
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.
Careers services at Southampton
We're a top 20 UK university for employability (QS Graduate Employability Rankings 2020). Our Careers and Employability Service will support you throughout your time as a student and for up to 5 years after graduation. This support includes:
- work experience schemes
- CV/resume and interview skills workshops
- networking events
- careers fairs attended by top employers
- a wealth of volunteering opportunities
- study abroad and summer school opportunities
We have a thriving entrepreneurship culture. You'll be able to take advantage of:
Fees, costs and funding
Fees for a year's study:
- UK students pay £13,660.
- EU and international students pay £26,500.
When you accept your offer to study on this course you’ll be asked to pay a deposit. This is non-refundable. The deposit amount is:
- UK students: £250
- EU and international students: £1,000
Full terms and conditions and details of how to pay this deposit will be sent to you in your offer letter.
What your fees pay for
Your tuition fee covers the full cost of tuition and any exams.
Find out how to pay your tuition fees.
Accommodation and living costs, such as travel and food, are not included in your tuition fees. Explore:
10% alumni discount
If you’re a graduate of the University of Southampton you get a 10% discount on your postgraduate tuition fees.
Postgraduate Master’s Loans (UK nationals only)
This can help with course fees and living costs while you study a postgraduate master's course. Find out if you're eligible.
Funding your postgraduate studies
A variety of additional scholarships, grants and bursaries may be available to help you fund your master’s study, both from the University and from other organisations.
Funding for EU and international students
Find out about funding you could get as an international student.
How to apply
- Use the 'apply for this course' button on this page to take you to our online application form.
- Search for the course you want to apply for.
- Complete the application form and upload any supporting documents.
- Submit your application.
Applications must be received no later than 4 weeks before the start of the course. You must supply all supporting documentation at least 2 weeks before starting your course.
We recommend you apply at least 6 weeks before the start of the course to ensure you're able to meet our requirements and apply for a visa in time.
We cannot guarantee students who do not meet these deadlines will be able to begin their course.
Application assessment fee
We’ll ask you to pay a £50 application assessment fee if you’re applying for any postgraduate taught course that starts in or after September 2021.
This is an extra one-off charge which is separate to your tuition fees. 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 a Master of Research (MRes) degree, you will not need to pay the fee. 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:
- your knowledge of the subject area
- why you want to study a postgraduate qualification in this course
- how you intend to use your qualification
You'll also need to send 2 academic references.
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.
Learn more about how to apply with our postgraduate application guide.
What happens after you apply
You'll be able to track your application through our online Applicant Record System.
We'll assess your application on the strength of your:
- academic achievements
- relevant professional experience
- personal statement
- academic references
We'll get back to you within 6 weeks with a decision about your application.
Equality and diversity
We treat and select everyone in line with our Equality and Diversity Statement.
Got a question?
Please contact us if you're not sure you have the right experience or qualifications to get onto this course.
Tel: +44(0)23 8059 5000
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