Advance your career with an MSc Risk Management & Financial Engineering
Our highly quantitative MSc Risk Management & Financial Engineering programme delves into a combination of mathematics, programming, and financial theory, equipping you with the technical skills and industry insights needed for a successful career. Previous students have successfully secured roles at Barclays, Credit Suisse, Morgan Stanley, HSBC, Goldman Sachs, JP Morgan, and more.
Accredited by the Professional Risk Managers' International Association (PRMIA), the programme is designed for technically-minded graduates who want a deep, analytical study of risk management and financial engineering. You will learn how to put the latest academic thinking and business strategies into practice from leading industry practitioners and world-class faculty, all whilst benefitting from our London location.
Study your MSc Risk Management & Financial Engineering in London at a global top 10 university
The programme consists of a pre-study and foundation module, core modules and electives as well as a final project where you can put your skills to the test. We also offer international experiences through optional elective modules to tailor your programme.
Our MSc Risk Management & Financial Engineering is a one year, full-time intensive programme with a normal working week of Monday to Friday. Classes will be scheduled between 08.30 and 21.00 and students should expect to attend one evening class per week in addition to other optional activities such as guest lectures or alumni and careers events which may be scheduled in the evening.
Please note, programme content is subject to change. Candidates that fail to successfully complete this degree are not entitled to a Postgraduate Certificate or Postgraduate Diploma.
Online pre-study modules
Before the programme begins you will be expected to complete online pre-study modules delivered through The Hub, Imperial College Business School’s virtual learning environment. These include an Accounting Primer module; an online Ethics & Professional Standards module, an online Finance Careers Primer and the Career & Professional Development module. These modules do not, however, contribute to the calculation of the final award.
Your MSc Risk Management & Financial Engineering induction will be spent at our vibrant South Kensington campus in London. You will be invited to a welcome event where you can meet and network with your fellow students, distinguished faculty and dedicated programme staff, forging new connections and getting a taste of life at Imperial.
Foundations in Risk Management and Financial Engineering
By the end of this module, you will be confident with the basics of R and Python, have developed an understanding of the main financial instruments, and be able to master the most important techniques of statistics and probability, tailored to applications in finance, risk management, and financial engineering.
Empirical Finance: Methods and Applications
This module introduces you to more complex econometric techniques which are an essential part of modern advanced empirical research. You will be able to analyse data from any source using a wide variety of techniques.
This module will cover financial engineering – the use of mathematical and computational methods to make trading, hedging and investment decisions.
Technical work in financial institutions frequently involves the analysis of data. This core module will ensure you have a solid foundation in statistical inference and econometrics, with particular emphasis on the special features that are prevalent in finance and in the management of financial risks.
Investments and Portfolio Management
This module provides you with a critical understanding of techniques used for investments and portfolio management. The module is accompanied by case studies and realistic practical examples that you will solve each week using R. By the end of the module you’ll be able to implement trading strategies and portfolio construction methods in a wide range of assets.
Risk Management and Valuation
This module covers the identification of categories of risk faced by financial institutions such as credit, market, liquidity, operational, reputational risks.
Quantitative finance is based on the mathematical analysis of stochastic processes. This module offers a practice-oriented introduction into the body of mathematical theory that is used to analyse the dynamics of asset prices. By the end of the module you will have a solid grounding in the field.
Advanced Options Theory
Asset Allocation & Investment Strategies
Computational Finance with C++
Fixed Income Securities
Advanced Financial Statistics
Applied Trading Strategies
Banks, Regulation and Monetary Policy
Big Data in Finance I
Big Data in Finance II
Blockchain and Applications
Corporate Governance and Stewardship
Enterprise Risk Management
Innovation and Strategy in FinTech
Machine Learning and Finance
Market Microstructure: Trading and Liquidity
Real Estate Investment, Finance and Private Equity
Structured Credit and Equity Products
Sustainable Finance Investment
Text Mining for Economics and Finance
Wealth Management and Alternative Investments
There will be an additional cost for taking these electives, which is reviewed on an annual basis.
Corporate Finance for Practitioners
This international elective allows you to experience finance in a different economy. It aims to provide the basics that practitioners will require in a wide range of such careers, both in the public and private sectors. Traditional lectures will be complemented by guest speakers, company visits and experiential learning activities. Previous students have travelled to Singapore.
Introduction to Quantitative Investing
This elective offers an introduction to analytical techniques and quantitative methods relevant for algorithmic trading. Topics include the basics of automated execution, pairs trading and long-short equity trading strategies. The elective is taught in two parts with the first part delivered online and the second part is an international study trip. Previous students have travelled to New York. Watch the video.
Most students choose to undertake an Applied Project because it has a practical focus and is designed for those who are interested in a career in a financial institution. If you choose this option, you will also complete an additional elective. The report, of 3,000 words, is due for submission in August.
If you have secured a work placement, you will be able to link your project to the area of finance of the employer organisation. The Programme Director is required to approve the work placement in advance.
Advised by a faculty supervisor, you’ll identify a topic or issue of interest and then analyse it statistically or numerically. The Research Project is ideal if you wish to follow an academic career and apply to a PhD programme. Your project report, of up to 10,000 words, is due for submission by mid-August.
Note: you must seek the Academic Director's approval to choose this option.
What our students say
“I believe that the MSc Risk Management & Financial Engineering programme is a Master's that brings opportunities in a large spectrum of industries. The students can work in highly quantitative jobs (in finance or other sectors with Data Science or statistics) as well as qualitative jobs in finance.”
Funding and scholarships
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At Imperial College Business School, your career is our priority. We have a dedicated Careers team that is committed to helping you achieve your personal and professional goals. With close links to industry and a busy calendar of events, workshops and personal development programmes, you will be prepared to enter a highly competitive recruitment market.
Employment outcomes below refer to the class of 2022.
employed within six months
employed in the UK
employed in investment banking or risk management (of the 81% employed within the finance sector)
“I think the one-to-one mock interview from Careers helped me greatly in the first round of interviews for the competency and behavioural questions. They helped me form better answers using the STAR (Situation, Task, Action, Result) technique.”
Meet your faculty
Our finance faculty members are specialists in their field. They have international research reputations, consult for global corporations, advise government and international agencies, sit on the boards of mature companies as well as new ventures, and are frequently asked by the media for academic insight on a wide variety of topics.
Start your journey at Imperial
Frequently asked questions
All applications to our postgraduate programmes are made online – we do not accept paper applications. Please refer to the ‘How to apply’ section of each programme page to see what documents you are required to submit with your application and to view the selection process.
All of our programmes are academically rigorous and include a quantitative component so all candidates are expected to be familiar with a basic level of mathematics before the start of the programme. The quantitative experience statement provides an opportunity to demonstrate this to the selection committee.
In the quantitative experience statement, you need to list up to five of the most quantitative modules or elements of your studies to date. You should list the main topics of study (eg: algebra, probability etc) as well as the level of study (eg: high school, undergraduate degree, short course etc) as this will allow the selection committee to have an understanding of your quantitative experience to date.
Quantitative experience is a key selection criterion for our more quantitative programmes (MSc Finance, MSc Finance & Accounting, MSc Financial Technology, MSc Investment & Wealth Management, MSc Risk Management & Financial Engineering, MSc Business Analytics, MSc Climate Change, Management & Finance and MSc Economics & Strategy for Business) so please be sure to check the entry requirements for your programme of interest to ensure your background is sufficiently quantitative. For other programmes, candidates are advised to review both the programme content and the pre-study modules to see what the numerical content of the programme includes before they submit an application.
Yes, you can. Our finance programmes at Imperial College Business School are highly rigorous, and our students are required to have a high level of quantitative skills. If you are considering applying for a programme within our finance Master’s portfolio, we advise you to take our online maths test to test your quantitative ability and determine if you are suitable to apply for the programme.
Please note, this maths test is most relevant to candidates considering the MSc Finance, MSc Investment & Wealth Management, MSc Financial Technology and MSc Risk Management & Financial Engineering programmes.
You can apply to be considered for one programme each year. We will take your areas of interest and eligibility into account when considering you for alternative programmes.
While it is not compulsory to submit the results of an approved English language test with your application, it is strongly encouraged and will add weight to your application if you are able to show that you have met the language requirement prior to applying. You can find detailed information regarding the Business School’s language requirements and the tests that we accept here.
As part of your application, you will be asked to provide the contact details of two referees. Your referees will be contacted by email once you have completed and submitted your application, and the email will contain instructions on how they can submit your reference via our application system.
Please ensure that each reference letter that is submitted has been sent from an academic or professional email address. We cannot accept references sent from personal email addresses, such as Gmail, Hotmail, 126, 163, Sina, QQ, and Yahoo.
Our electronic application service is provided by an external provider, so there may be a delay before the receipt of your references is confirmed on your student application account.
If you receive confirmation that your references have been received but this still isn’t confirmed on your account a week after receiving the confirmation, please contact the Central Admissions team at email@example.com.
Yes. As part of the selection process, shortlisted candidates for our MSc programmes will be invited to complete an interview. Interviews are conducted through Kira Talent, our video interview platform, which you can access online to record and submit your answers.
The interview process typically takes about 20 minutes and does not require extensive preparation. It aims to supplement your written application by providing a further opportunity for you to articulate your suitability for your MSc programme of choice through questions about your previous experience and future aspirations.
If you are invited to submit a video interview, you will be sent details of how to access and use the Kira Talent online interview platform.
Once you have created an account, you will be asked a series of questions, to which you can record your answers as short videos and submit them online.
Please make sure that the invitation doesn’t go to your junk mail by adding kiratalent.com to your list of safe senders. You must complete your online interview by the deadline stated in the email. If the email has gone into a junk, spam, or clutter folder in your inbox, we will not be able to rearrange a new interview for you, and your application will be considered for withdrawal.
For all MSc programmes, you can normally expect to receive a decision within 6-8 weeks of having submitted a complete application. Please keep in mind that during busy times and/or where documents are missing from an application, this time may increase.
When an offer is submitted by the Business School, the Central Admissions need to make a number of final checks before it can be formally approved. These may include an additional review of an applicant’s academic background or ensuring the references we have received are valid. Until you have received confirmation of the official offer via the College’s applicant portal, please do not arrange accommodation, book flights or decline any other offers you may be holding. The majority of offers are successfully approved by Central Admissions and you will be able to see full details of your offer conditions once your official offer has been confirmed.
Unfortunately, we are unable to confirm when you will receive a decision on your application but we will be in touch via email as soon as there is an update. Please be aware that you do not need to provide any additional information unless you think that this will add significant weight to your application (e.g. updated transcripts, relevant internships, English language results).
Please email your programme admissions team if you would like feedback on your application. Please note that whilst limited feedback can be provided, the decision of the academic selectors is final and it will not be possible for your application to be reconsidered.
We are unable to assess eligibility before an applicant applies as the academic selection committee needs to review a full application before any decision can be made. Please check the specific entry requirements of the programme you are interested in studying along with our international entry requirements. If you feel you meet our entry requirements you can apply online.
In addition to the guidance available on our website, we also hold regular information sessions both online and on-campus throughout the year where we would be happy to discuss your suitability in more detail.
The majority of the MSc programmes require a minimum of an Upper Second Class Honours degree (or international equivalent) to be admitted. While work experience can add weight to an application, this would not be considered in place of meeting the academic requirement, regardless of how lengthy the experience has been.
The exceptions to this are MSc Global Health Management, MSc Business Analytics (online delivery, part-time), and MSc Strategic Marketing (online, part-time). Please refer to the programme’s entry requirements for more detailed information.
We may consider candidates applying to MSc Business Analytics (online delivery, part-time) with non-traditional qualifications and backgrounds, on the basis of highly relevant work experience or demonstrated interest.
The Business School does not offer pre-sessional English courses or accept attendance of a pre-sessional English course as a means of meeting the English language requirement.
Yes, you can. You can pay your tuition fees in either one or two instalments payable at the start of term, or at the start of term and February, respectively. If you pay in instalments there will be a 2% surcharge of the total amount added to your first instalment. You would be asked to select a payment schedule during the offer acceptance process. Please contact the Student Finance Team if you have further questions about this process.
The Business School offers a variety of different scholarships, each with unique eligibility criteria.
All candidates who submit an MSc application before the scholarship deadlines (listed on our website) and receive an offer for one of our programmes will automatically be considered for scholarship(s) relevant to their programme, providing they do not have additional criteria such as a video submission. You can be considered for multiple scholarships at the same time.
Additionally, there are a number of cross-programme awards and programme specific awards also available. Please check on the scholarships page on your programme of choice for eligibility and entry requirements.
Yes, we offer a 10% bursary on programme fees to successful candidates with an undergraduate degree from Imperial awarded at a minimum of upper second class, or Master’s degree awarded with a minimum of Merit. In order to be considered for this bursary, you must submit your application by the scholarship deadline.
If you are being sponsored by an organisation that will be responsible for paying your tuition fees, you must provide acceptable proof of the award.
Satisfactory evidence of sponsorship is usually regarded as an original, dated and duly authorised letter from your sponsor on headed paper which includes the following:
Your name and College Identifier Number
The programme for which you have been offered a place
The amount of fees which will be paid by your sponsor (please report in GBP)
The address to which the invoice should be sent
Any Purchase Order Number required
Confirmation that the fees will be sent directly to Imperial College
Sponsorship letters should be emailed to the Central Admissions team at firstname.lastname@example.org
Your CAS number holds information about the programme you will study and if you have paid any fees. You will not need a formal letter from the College confirming your offer status for your visa appointment.
For more information about what you will need, see the UKVI website.
We will start to issue CAS numbers from April. The details of your CAS will appear on your My Imperial record after you have met all the conditions of your offer. Please note that you will need to upload a scanned copy of the photo page of your passport and current visa (if you have recently completed a degree in the UK), before your CAS can be issued. Please upload these documents to the ‘Passport/visa’ section of your My Imperial account.
Once your CAS is ready, you will receive an email confirming that it has been uploaded onto your My Imperial account. If you log into My Imperial you will be able to find your CAS number and the details that have been included in your CAS.
Please note that we cannot provide you with a CAS if you have outstanding conditions on your offer. Please ensure that you allow enough time to meet your conditions and apply for a visa before the start date of your programme of study.
The Business School holds online information sessions throughout the year to give you the opportunity to learn more about the programmes from the Programme Director, current students and alumni. Please refer to the meet us page to find out when the next event is being held for your interested programme(s).
The Business School is located on the South Kensington campus of Imperial College London. Please refer to the location page for our address and guidance on how to get here.
Please note that before you contact us you should also check information on the relevant pages on the Business School or College website. If your question isn’t answered, please contact the appropriate team below.
General application queries
Deposit and tuition fee invoice queries (including refunds)
To check if your payment has been received
Tuition Fees Team
+44 (0) 20 7594 8011
To check if your documents have been received
Queries regarding your CAS number
+44 (0) 20 7594 7258
Career-related queries from admitted students
+44 (0) 20 7594 9617
Visa and immigration queries
International Student Support
+44 (0) 20 7594 8040
+44 (0) 20 7594 9444
General student information and advice
+44 (0) 20 7594 9444
Advice on budgeting and London living costs
Advice on external scholarships
Student Financial Support
+44 (0) 20 7594 9014
If you’ve submitted your application but haven’t received your CID number
Password or technical issues with your Imperial Gateway account
+44 (0)20 7594 9000
Almost all of the MSc programmes we have available are 12 month, full-time programmes. The only exceptions are our MSc Business Analytics (online delivery, part-time) and MSc Strategic Marketing (online, part-time) programmes, which are available on a part-time basis.
Yes, we offer an Economics, Finance and Data Science Bachelor's degree, as well as a range of courses at undergraduate level:
- BSc Economics, Finance and Data Science
- BPES Programme
- Joint Honours and Intercalated BSc Programme
- Summer School Programme
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Find out more about entry requirements, who we are looking for, and how to apply to the MSc Risk Management & Financial Engineering programme.