About this course

Study this UK risk management master’s for a broad understanding of theory and practice in key topics of risk. Explore financial and credit risk, decision making and corporate security and insurance.

This course equips you with the skills to apply project risk management principles to a range of sectors. You’ll be able to tailor your degree and explore your own interests through optional modules, taught by experienced academics and researchers.

This UK risk management degree teaches risk management topics so that you can apply techniques and theory in any field, rather than focusing on finance or engineering.

This course is for you if you have some professional experience and want to advance risk management practice in your industry, or if you are looking to specialise following your undergraduate study.

You’ll explore different aspects of risk and discover your area of interest through optional module selection in areas such as finance, quantitative methods and corporate security.

MSc Risk Management is accredited by the Chartered Insurance Institute. This means you can apply for credits towards professional qualifications when you graduate.

You’ll be taught by academics at the forefront of risk management research, including experts in decision making in uncertain environments and project risk.

Our master’s in risk management is delivered with links to Southampton’s Business School’s Centre for Risk Research, the only specialist centre of its kind in a Russell Group University. The centre hosts unique opportunities, such as industry seminars, to inform your learning.

Course lead

This course is led by Dr Mario Brito, Lecturer in Risk Analysis and Risk Management. His area of expertise is in risk analysis of extreme events where there is large uncertainty with respect to a critical event and historical hard data alone is not sufficient to reduce the uncertainty to acceptable levels. Visit Dr Brito’s staff profile to find out more.

Accreditations

Association to Advance Collegiate Schools of Business (AACSB)

Chartered Insurance Institute (CII)

Institute of Risk Management (IRM)

Course location

This course is based at Highfield.

Awarding body

This qualification is awarded by the University of Southampton.

Entry requirements

You’ll need a 2:1 degree in a subject with quantitative study such as:

accounting
finance
business
maths
engineering
science
economics

You’ll need evidence your maths, statistics, calculus and algebra knowledge.

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: 6.5
reading: 6.5
writing: 6.5
speaking: 6.0
listening: 6.0

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.

Email: enquiries@southampton.ac.uk
Tel: +44(0)23 8059 5000

Course structure

You'll study this full-time master’s course over 12 months.

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.

Your optional modules give you the opportunity to personalise your degree and study topics of interest and to work towards your career goals. The optional modules cover topics such as:

financial and credit risk
managing corporate security
quantitative risk analysis

During semester 2 you’ll begin preparing for your dissertation. 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.

Part-time study

The part-time version of this course usually involves taught study over two 9 month periods followed by 6 months work on a dissertation

Semester 1 overview

You’ll study compulsory modules covering key risk management principles and processes and quantitative methods. These will give you a base knowledge to explore the topics further in semester two.

Semester 2 overview

As well as building on your knowledge from your first semester, you’ll study specialist compulsory modules in subjects like:

risk taking and decision making
project risk management
insurance

You’ll also study quantitative and qualitative research methods in preparation for your dissertation.

Want more detail? See all the modules in the course.

Modules

For entry in Academic Year 2020-21

You must study the following modules:

Corporate Risk Management Processes

The module not only familiarises students with corporate risk management processes but also encourages critical thinking about such matters as how to improve these processes – for example through better integration with other management activities. The fo...

Dissertation

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...

Insurance

The module gives a general introduction to the theory and practice of insurance, reinsurance and captive operations. It seeks to meet the industry’s requirement for graduates with a strong insight into what makes the industry unique in terms of its handli...

Principles of Risk Management

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...

Project Risk Management

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...

Quantitative Methods

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...

Quantitative and Qualitative Research (DDAR)

This module aims to provide you with an opportunity to develop an appreciation of management research in theory and practice. There are two broad objectives: (1) to enhance your knowledge of the research process and enable you to be aware of the problems ...

Risk Taking and Decision Making

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:

Business Ethics

This module gives an overview of moral philosophy and shows how such ethical theories apply in a business context. Common ethical issues are discussed with reference to their causes and consequences. Examples of both ethical and unethical business practic...

Corporate Finance

This module provides a deep insight in some key theories and topics in Corporate Finance. The module looks at how firms and corporation manage financial investment and decisions in the long term and short term. The module will discuss topics ranging fro...

Credit Scoring and Data Mining

The module will start by defining the concept of Knowledge Discovery in Data (KDD) as consisting of three steps: data pre-processing, data mining and post-processing. Next, we will zoom into the data mining step and distinguish two types of data mining: ...

Management of Financial Risk

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...

Problem Structuring

This module introduces you to the inter-related issues of defining, developing, exploring and working with ill-structured problems in an effective manner. Problems which present in a well-structured form are the exception rather than the rule. Most pro...

Simulation

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...

The Management of Corporate Security

Managing security is now an essential activity in most organisations, with poor security practices being blamed for failure in a variety of organisational contexts. This has resulted in a need for a greater number of consultants and experts with specialis...

Learning and assessment

Learning

You’ll learn through lectures, seminars and independent study. Our academics make your learning interactive, using case studies and real examples from their research to bring theory to life. You’ll also take part in group exercises exploring theories and their real-world application.

Some modules include guest talks by industry speakers, and you’ll have the opportunity to attend industry seminars by the Centre for Risk Research.

You’ll hear from guest speakers, who bring their insight into current sector issues and advice on career options to talks. You’ll also be taught by leading risk management consultants and the chief risk officer of a major insurance firm as part of your module selection.

Assessment

Assessment methods vary depending on your chosen modules, typical methods include:

exams
coursework
group projects
computer-based assignments
dissertation project

Dissertation

As part of this course, you’ll complete a 15,000 word 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 with the support of an academic.

Academic Support

We’ll assign you a personal tutor, and you’ll have access to a senior tutor.

Careers

You’ll graduate with a wide range of career options. Popular organisations to continue a career in include:

financial or insurance companies
the pharmaceutical or medical industry
environmental risk management
consultancy service firms
government organisations
private sector companies

Our graduates have gone on to work for companies such as:

PwC
Deloitte
Ernst and Young
Old Mutual Wealth
Formula 1

The reputation of our risk management courses means we are regularly approached by companies seeking students for placement, internship or job opportunities.

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:

our dedicated start-up incubator, Futureworlds
a wide variety of enterprise events run throughout the year
our partnership in the world’s number 1 business incubator, SETsquared

Fees, costs and funding

Tuition fees

Fees for a year's study:

UK students pay £12,608.
EU and international students pay £24,060.

Check fees for other versions of this course.

Deposit

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.

Application deadlines

UK students

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.

International students

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, if you're applying for a Master of Research (MRes) degree, or if you're applying for a PGCE course via UCAS, you will not need to pay the fee. Find out if you’re exempt on our terms and conditions page.

Supporting information

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.