The MSc in Financial Risk Management consists of 8 taught modules and a thesis.

Detailed information about the core and option modules and syllabuses will be added in due course.

1. Taught modules

All students take 4 core modules and 4 optional modules. The 4 core modules are:

• Stochastic Methods in Finance (STATG017)

• Compliance Risk and Regulation (COMPGF03)

• Market Risk, Measures and Portfolio Theory (COMPG004)

• Financial Data and Statistics (COMPG001)

Students will normally select their 4 options from the list below. Options available might differ in any one year:

• Advanced Stochastic Analysis and Models (MATHGF02)
• Applied Computational Finance in C++/Mathematica (COMPG002)
• Complex Networks and Web (COMPGW01)
• Equities, Foreign Exchange and Commodities Modelling (MATHGF03)
• Financial Information Systems (COMPGS07)
• Financial Institutions and Markets (COMPGS06)
• Information Retrieval & Data Mining (COMPGI15)
• Interest Rates and Credit Modelling (COMPG003)
• Introductory Programming (COMPGC01)
• Numerical Analysis for Finance (MATHGF01)
• Programming & Mathematical Methods for Machine Learning (COMPGI07)
• Quantitative and Computational Finance (MATHGM21)
• Statistical Inference (STATG012)
• Supervised Learning (COMPGI01)

2. Master project and thesis (COMPGF98)

This is an in-depth independent research project carried out under the supervision of a member of academic staff and with the help of an industrial supervisor. We will offer to most of the students the opportunity to do a research project within a London financial institution such as an investment bank. The project culminates in a written report of 10,000 words.

The MSc is assessed by coursework during Terms 1 and 2, and by written examinations in Term 3. The Scheme of Award is as follows:

Scheme of Award 

MSc Financial Risk Management

(effective for student entering the programme in or after 2010/11) 

The Academic Regulations for Students published on the UCL web pages are the source of reference for all matters relating to overarching examination and assessment regulations: http://www.ucl.ac.uk/ras/acd_regs 

In addition to UCL’s minimum requirements as set out in the academic regulations, the Programme Board of Examiners has prescribed the following requirements: 

Definition of Terms 

An element is a unit of assessment, which has one or more component parts e.g. a coursework component; an examination component; an oral component.

An element is said to be compulsory if it must be passed in order to obtain an award.

Award dependent details 

Students take the following 9 elements:

• 8 taught elements, each with a credit weighting of 15 (total credit weighting 120) 
• Individual project element (total credit weighting 60) 

Taught Elements

There are 8 taught modules, each of which is an element. None of these elements is compulsory.

Project Element

In order to be considered for the award of the MSc, candidates must be complete in the project element. This element is compulsory. 

Award Independent Rules 

To obtain a pass in an element candidates must normally:

Obtain a weighted average of at least 50% across all the graded components of that element. For specified taught elements, the candidates may further be required to obtain an average mark of at least 50% on both of the coursework component and the examination components individually.

To pass the MSc, candidates must normally: 

• Obtain at least 40% in each element;
• Pass all compulsory elements; 
• Pass the project element; 
• Pass all but 2 of the non-compulsory elements. 

All the criteria must be satisfied

An award of Merit will be made where: 

• The overall mark, based on 180 credits, is 60% or greater; and 
• The mark for the dissertation is 65% or greater; and 
• There are no marks below 50%, no condoned marks, no re-sits, and all marks are based on first attempts. 

All the criteria must be satisfied.

An award of Distinction will be made where: 

The overall mark, based on 180 credits, is 70% or greater; and 

• The mark for the project element is 70% or greater; and 
• There are no marks below 50%, no condoned marks, no re-sits, and all marks are based on first attempts. 

All the criteria must be satisfied.

Resit candidates 

• Candidates who have failed to pass the MSc have the opportunity to re-sit an element that was failed; 
• The Board of Examiners may, at its discretion, require the candidate to re-sit only parts of a failed element; 
• Candidates are only allowed to re-sit each failed element once and must re-sit at the first available opportunity; 
• In all other respects, the same rules as for first-sit candidates apply to re-sit candidates. 

 Oral Examinations 

The Board of Examiners has the right to require and candidate to be examined orally whether or not an oral examination is part of the scheme of examination.

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