About the MSc programme
The MSc in Risk and Stochastics offers in-depth instruction in advanced mathematical risk theory and its ramifications in finance, insurance, and risk management. It draws on world-class research in modern financial and actuarial mathematics within the Department. The programme is LSE’s timely response to the strong developments in the interface of finance and insurance, which is manifest in mergers across the industries.
It will provide you with instruction in theoretical as well as practical aspects of various techniques in risk management. It draws on diverse quantitative disciplines from mathematical finance and actuarial science to statistics. Students work with real financial data to receive hands-on training in real-world problems. You can expect high-level training in quantitative methods with applications in the management of financial and insurance risk and the interplay between finance and insurance sectors.
The programme aims to prepare candidates for a range of expert careers in financial and insurance industries, in regulatory bodies, and in applied and theoretical research.
Your application
If you are applying for this programme, please note the following specific requirements for your personal statement.
Your personal statement should clearly state why you want to do the programme applied for and why you have chosen LSE. Brief details of your academic background and aspirations are also useful. Applicants coming from a background other than mathematics or statistics should give further explanation of how their background is relevant to the programme applied for and further details of their current studies is necessary. Personal statements for the Taught Masters programmes should be concise and should not exceed the following word limits:
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For MSc Risk and Stochastics: Up to 150 words in total
However, please note if you are applying for the following combinations of programmes as your first and second choices:
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MSc Statistics/MSc Statistics (Financial Statistics)/MSc Statistics (Social Statistics)/MSc Data Science and Risk & Stochastics:
You must submit a separate personal statement for each programme, adhering to the appropriate word limit as set out above.
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MSc Statistics/MSc Statistics (Financial Statistics), MSc Statistics(Social Statistics)/MSc Data Science/MSc Risk & Stochastics and another related programme which allows a longer word limit:
You must submit a separate personal statement for each programme, ensuring that you adhere to the appropriate word limit for each.
Programme details
You can find the most up-to-date list of optional courses for MSc Risk and Stochastics in the Programme Regulations section of the current School Calendar.
You must note however that while care has been taken to ensure that this information is up to date and correct, some circumstances may cause the School to subsequently change, suspend or withdraw a course or programme of study, or change the fees that apply to it. The School will neither be liable for information that after publication becomes inaccurate or irrelevant, nor for changing, suspending or withdrawing a course or programme of study due to circumstances outside of its control. You must also note that places are limited on some courses and/or subject to specific entry requirements. The School cannot therefore guarantee places on its courses. You should visit the School's Calendar, or contact the relevant academic department, for information on the availability and/or content of courses and programmes of study. Certain substantive changes will be listed on the Updated graduate course and programme information page.
Graduate destinations
The programme offers excellent prospects for employment and further study. Students can gain employment in the finance or insurance industries. They can also go on to do a higher degree. The Department has good relations with the financial services industry, particularly insurance and professional bodies.