Risk Management & Financial Engineering
Become a leader in risk management.
Become a leader in risk management
PRMIA accredited, a head start on your career
93% of our class of 2022 were employed within six months of graduating
Course key facts
Minimum entry standard
First or 2:1 from a recognised university in a highly quantitative subject such as Mathematics, Engineering, Economics or Science.
Prepare yourself for a career in financial engineering and risk management with our MSc Risk Management & Financial Engineering programme.
This highly quantitative one-year programme, which is accredited by the Professional Risk Managers' International Association (PRMIA), 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 practitioners and world class faculty, giving you a thorough and hands-on understanding of risk management.
You'll get the opportunity to meet and network with leading global organisations, thanks to our London location and ongoing relationships with major employers in the finance sector.
This page is updated regularly to reflect the latest version of the curriculum. However, this information is subject to change.
Find out more about potential course changes.
Please note: it may not always be possible to take specific combinations of modules due to timetabling conflicts. For confirmation, please check with the relevant department.
Before the programme begins you will be expected to complete some pre-study modules which are delivered through The Hub, Imperial College Business School’s online learning environment.
These modules will be available to students who have accepted an offer of admission from July onwards, and are designed to give you a basic knowledge of areas which will be covered by the programme throughout the academic year.
You will study one foundation module in September that introduces the tools of modern finance and enhances your career development skills.
- Foundations in Risk Management & Financial Engineering
You’ll study six core modules and an online module in Ethics and Professional Standards in Finance.
The core modules are taught through lectures, interspersed with quantitative case studies allowing students to work on real-world problems faced by financial firms, using extensive data sets and computer programs.
- Empirical Finance: Methods and Applications
- Financial Statistics
- Financial Engineering
- Investments and Portfolio Management
- Risk Management and Valuation
- Stochastic Calculus
Electives allow you to personalise your programme to match your own interests. You will take either three (if you do the Research Project) or four (if you do the Applied Project) from the following elective modules. All students will be required to take at least one key elective.
- Advanced Options Theory
- Asset Allocation & Investment Strategies
- Computational Finance with C++
- Credit Risk
- 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
- Climate Finance
- Corporate Finance for Practitioners (international elective)
- Corporate Governance and Stewardship
- Entrepreneurial Finance
- Enterprise Risk Management
- International Finance
- Innovation and Strategy in FinTech
- Introduction to Quantitative Investing (international elective)
- Machine Learning and Finance
- Market Microstructure: Trading and Liquidity
- Real Estate Investment, Finance and Private Equity
- Structured Credit and Equity Products
- Sustainable Investment
- Text Mining for Economics and Finance
- Wealth Management and Alternative Investments
In the spring and summer terms, you will choose between undertaking two types of projects, in order to develop specialist skills and subject knowledge to benefit your future career.
You can either pursue an Applied Project together with an additional elective, or a traditional Research Project. If you have secured a work placement, you will be able to link your project to the area of finance of the employer organisation.
- Applied Project
- Work Placement
- Research Project
We are among a handful of business schools worldwide to achieve triple accreditation:
- Association of MBAs (AMBA)
- Association to Advance Collegiate Schools of Business (AACSB)
- European Quality Improvement System (EQUIS)
We have also been recognised for our work in tackling gender inequality in higher education with a Bronze Athena SWAN award.
Teaching and assessment
Teaching and learning methods
- Case studies
- Equipment/technique demonstrations
- Presentations and seminars
- Group work
- Virtual learning environment
- Lecture recordings
- Practical classes
- Work placement opportunity
- Case studies
- Continuous assessments
- Formal presentations
- Multiple choice tests
- Written exams
We consider all applicants on an individual basis, welcoming students from all over the world.
How to apply
If you are applying to the Business School, you may be considered for one course per admissions cycle. If you are applying for a Finance Master's, we will take your areas of interest and eligibility into account when considering you for alternative programmes.
Visit our Admissions website for details on the application process.
If you are applying for a taught Master’s course, you will need to pay an application fee before submitting your application.
The fee applies per application and not per course:
- £100 for all MSc applications to Imperial College Business School
- £150 for MBA applications to Imperial College Business School
There is no application fee for MRes courses, Postgraduate Certificates, Postgraduate Diplomas or research courses, such as PhDs and EngDs.
If you are facing financial hardship and are unable to pay the application fee, we encourage you to apply for our application fee waiver.
Find out more about the application fee and waiver
An ATAS certificate is not required for students applying for this course.
If you're a UK national, or EU national with settled or pre-settled status under the EU Settlement Scheme, you may be able to apply for a Postgraduate Master’s Loan from the UK government, if you meet certain criteria.
The government has not yet published the loan amount for students starting courses in Autumn 2024. As a guide, the maximum value of the loan was £12,167 for courses starting on or after 1 August 2023.
The loan is not means-tested and you can choose whether to put it towards your tuition fees or living costs.
Your future career
Discover solutions to real-world business challenges with guidance from industry experts.
With specialised knowledge, you'll be highly sought after in a range of sectors.
Investment banking, asset and investment management, and sales and trading are just some of your options.
Other potential career paths include corporate or retail banking, hedge funds, M&A, finance, accounting services, research, and private wealth management.
Terms and conditions
There are some important pieces of information you should be aware of when applying to Imperial. These include key information about your tuition fees, funding, visas, accommodation and more.
You can find further information about your course, including degree classifications, regulations, progression and awards in the programme specification for your course.Programme specifications