Programmes

MSc Risk and Finance

  • Graduate taught
  • Department of Finance
  • Application code N4U3
  • Starting 2021
  • Home full-time: Closed
  • Overseas full-time: Closed
  • Location: Houghton Street, London

The MSc Risk and Finance is an interdisciplinary master's programme designed to provide a comprehensive understanding of the various facets of risk, including risk perception, management, control and regulation as encountered in a wide variety of contexts.

The success of organisations depends upon their ability to operate in the face of risk, and risk management is increasingly recognised as requiring special skills central to the functioning of the organisation. This programme addresses such questions as: What types of risks exist in various settings? What are the appropriate ways to classify, measure and assess risk? How does the organisation of enterprises, governments and markets increase, decrease or change the nature of risk? What techniques can be used to transfer risk in markets, firms or societies? The design of the programme will enable you to acquire a broad knowledge of risk management and regulation, and to deepen your competency in a chosen area of specialisation.

The programme is supported by Deutsche Bank, which contributes a high level of involvement via a series of practitioner seminars which run throughout the programme. 

Teaching and learning in 2021 

LSE is committed to offering you the best possible teaching and learning experience within the constraints of the ongoing COVID-19 pandemic. 

Our expectation for the 2021-22 academic year is that all LSE students will be in London and studying on campus, where we will provide flexible teaching and learning which blends both in-person and online elements. This flexible approach has been informed by our student and academic community and builds upon the innovations and improvements we have put in place over the past year. If, due to events outside of our reasonable control, such as the COVID-19 pandemic, we have to make any changes to the delivery of the programme in the 2021/22 academic year, we will provide as much notice as is reasonably practicable by updating this page and sending an email to all offer holders/students. 

For more information about LSE's teaching plans for 2021 and our Coronavirus FAQs for prospective students please visit our website.

Programme details

Key facts

MSc Risk and Finance
Start date Pre-sessional course begins September 2021
Application deadline None – rolling admissions. However please note the funding deadlines
Duration 12 months full-time only
Applications 2019 840
Intake 2019 59
Tuition fee Home: £30,360
Overseas: £30,960
Financial support Graduate support scheme (deadline 29 April 2021)
Minimum entry requirement 2:1 degree or equivalent in any discipline, should include some mathematics and statistics
GRE/GMAT requirement GMAT or GRE is recommended for all applicants and it is required for applicants without a UK undergraduate degree (GMAT preferred)
English language requirements Standard (see 'Assessing your application')
Location  Houghton Street, London

For more information about tuition fees and entry requirements, see the fees and funding and assessing your application sections.

Entry requirements

Minimum entry requirements for MSc Risk and Finance

Undergraduate degree

Upper second class honours (2:1) degree or international equivalent in any discipline and good quantitative skills. See international entry requirements.

Competition for places at the School is high. This means that even if you meet the minimum entry requirement, this does not guarantee you an offer of admission.

Quantitative skills

Successful applicants usually have a solid undergraduate background in one or more of the following areas: Economics, Finance, Mathematics, Statistics and Accounting. However, we also welcome applications from candidates with other backgrounds. If you do not have sufficient background in these areas, we may require you to take one or more LSE Summer School courses.

GMAT/GRE

GMAT or GRE is required for all applicants without a UK undergraduate degree (GMAT strongly preferred). GMAT is recommended for applicants with UK undergraduate degrees, especially those whose quantitative skills are not demonstrated by their undergraduate studies. More about GRE/GMAT 

Professional experience

Work experience (either through internships or full employment) is not a pre-requisite; however, applicants who have some professional experience should include this in their application, as it may strengthen their application.

English language

You may also have to provide evidence of your English proficiency, although you do not need to provide this at the time of your application to LSE. See our English language requirements.

We welcome applications from all suitably qualified prospective students and want to recruit students with the very best academic merit, potential and motivation, irrespective of their background.

We carefully consider each application on an individual basis, taking into account all the information presented on your application form, including your: 

    Academic achievement

     Additional test scores

    Two academic references    

   CV    

    Academic Statement of Purpose

See further information on supporting documents

When to apply

Applications for this programme are considered on a rolling basis, meaning the programme will close once it becomes full. There is no fixed deadline by which you need to apply, however we encourage you to apply early to avoid disappointment. Details on how to apply.

To be considered for any LSE funding opportunity, you must have submitted your application and all supporting documents by the funding deadline. See the fees and funding section for more details.

Information for international students

LSE is an international community, with over 140 nationalities represented amongst its student body. We celebrate this diversity through everything we do.  

If you are applying to LSE from outside of the UK then take a look at our Information for International students

1) Take a note of the UK qualifications we require for your programme of interest (found in the ‘Entry requirements’ section of this page. 

2) Go to the International Students section of our website. 

3) Select your country. 

4) Select ‘Graduate entry requirements’ and scroll until you arrive at the information about your local/national qualification. Compare the stated UK entry requirements listed on this page with the local/national entry requirement listed on your country specific page 

Fees and funding

Every graduate student is charged a fee for their programme.

The fee covers registration and examination fees payable to the School, lectures, classes and individual supervision, lectures given at other colleges under intercollegiate arrangements and, under current arrangements, membership of the Students' Union. It does not cover living costs or travel or fieldwork.

Tuition fees 2021/22 for MSc Risk and Finance

Home students: £30,360
Overseas students: £30,960

Fee status

The amount of tuition fees you will need to pay, and any financial support you are eligible for, will depend on whether you are classified as a home or overseas student, otherwise known as your fee status. LSE assesses your fee status based on guidelines provided by the Department of Education.

Further information about fee status classification.

Fee reduction

Students who completed undergraduate study at LSE and are beginning taught graduate study at the School are eligible for a fee reduction of around 10 per cent of the fee.

Scholarships and other funding

The School recognises that the cost of living in London may be higher than in your home town or country, and we provide generous scholarships each year to graduate students from the UK, EU and overseas.

This programme is eligible for needs-based awards from LSE, including the Graduate Support SchemeMaster's Awards, and Anniversary Scholarships

Selection for any funding opportunity is based on receipt of an offer for a place and submitting a Graduate Financial Support application, before the funding deadline. Funding deadline for needs-based awards from LSE: 29 April 2021.

In addition to our needs-based awards, LSE also makes available scholarships for students from specific regions of the world and awards for students studying specific subject areas.

Government tuition fee loans and external funding

A postgraduate loan is available from the UK government for eligible students studying for a first master’s programme, to help with fees and living costs. Some other governments and organisations also offer tuition fee loan schemes.

Find out more about tuition fee loans

Further information

Fees and funding opportunities

Programme structure and courses

You will take courses to the total value of four full units. These will be made up of compulsory and optional courses. You can select two and a half units worth of options from a wide range of courses offered by the Departments of Accounting, Finance, Geography and Environment, Law, Management, and Statistics. These elective courses offer you significant flexibility to tailor your degree to your academic and professional interests. 

(* denotes a half unit)

Management and Regulation of Risk FM403
This core course is mandatory for programme students. It is a unique course delivered through taught lectures and covers topics including: risk and regulation; financial market and regulation; financial risk analysis; strategy, control and risk in organisations; and risk analysis and the psychology of risk bearing.

Either
Asset Markets A* FM429 
This course explores the fundamental concepts and tools underlying the asset markets side of modern finance.
Or
Corporate Finance A* FM431
This course covers a range of topics in corporate finance.

Courses to the value of two and a half units from a range of options

(Please note that the above information is a summary only.  Detailed information about the programme structure is available from the Programme Regulations section of the website, where you can also find information about course pre-requisites and reading materials.)

To find the most up-to-date list of optional courses please visit the relevant School Calendar page.  

You must note however that while care has been taken to ensure that this information is up to date and correct, a change of circumstances since publication may cause the School to change, suspend or withdraw a course or programme of study, or change the fees that apply to it. The School will always notify the affected parties as early as practicably possible and propose any viable and relevant alternative options. Note that that 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 events outside of its control, which includes but is not limited to a lack of demand for a course or programme of study, industrial action, fire, flood or other environmental or physical damage to premises.

You must also note that places are limited on some courses and/or subject to specific entry requirements. The School cannot therefore guarantee you a place. Please note that changes to programmes and courses can sometimes occur after you have accepted your offer of a place. These changes are normally made in light of developments in the discipline or path-breaking research, or on the basis of student feedback. Changes can take the form of altered course content, teaching formats or assessment modes. Any such changes are intended to enhance the student learning experience. 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.

Teaching and assessment

Our philosophy

Our philosophy of education is based on the belief that a solid foundation of academic theory, empirical research and practical applications are all crucial for long-term success in a career in Finance. Our faculty consists of high-level academics, who regularly publish cutting-edge research, and practitioners with long experience in the industry. We believe that risk is a multifaceted topic and must be approached from many different perspectives. Accordingly, the programme enables students to take courses in several areas related to Risk and Finance.

A solid foundation on the topic of risk from the perspective of financial institutions and regulation is provided in the core course (FM403 - Management and Regulation of Risk), where a sound theoretical basis is given to students on the topic of risk management in financial institutions. The course is taught by leading academics and practitioners and supported by contributions from high-level risk professionals from Deutsche Bank through seminar participation. In addition, students develop a foundation on Capital Markets and/or Corporate Finance and can choose from a wide variety of electives to deepen their knowledge in their area of specialisation.

We also believe that research skills and experience are critical, and students are required to produce a lengthy piece of original work in the form of a dissertation as part of their programme.

Teaching and learning

Courses in the programme usually have two elements, lectures and seminars. The lecture format allows for the development of core theoretical concepts, familiarisation with academic research. Seminars are conducted with smaller groups in which class teachers can have a closer relationship with individual students, which makes it easier to use alternative teaching methods such as case studies and discussions and conduct empirical exercises that enable the student to gain deeper practical understanding of the course material.

Many courses also use alternative methods of instruction and assessment. Students are often required to work in groups during their courses, in order to complete group presentations or projects. Active class participation is expected and constitutes part of the final course mark in the core course of the programme. In addition, students are expected to undertake a significant amount of reading and independent study throughout the year.

You can view indicative details for how teaching is conducted in each course in the programme in the relevant course guide.

Course work and exams

There are two types of course work at LSE, formative and summative.  Formative coursework does not count towards your final mark, whereas summative coursework does.  An indication of the formative coursework and summative assessment for each course can be found in the relevant course guide.

Formative coursework enables students to develop a sense for how well they are doing in terms of understanding course material.  In many courses weekly problem sets are assigned which you are expected to complete before the following week’s class, where the teacher will work through solutions and answer questions. Many of the courses in the programme also contain summative assessments. These can take various forms, such as group presentations, individual or group projects, empirical or programming exercises, class participation, or in-class assessments under exam-style conditions.

Exams for most courses will take place during the Summer Term exam period, which runs from late April until mid-June. The exam timetable is confirmed during Lent Term. The majority of the courses that students usually take have an exam in Summer Term that accounts for a high percentage of the final course mark. The exams for a few Michaelmas Term courses are conducted in January, and some courses do not involve a final exam at all.

Student support

We have a broad range of resources to support students in their learning. Faculty are usually accessible and can be approached with questions or discussions during breaks in lectures. In addition, all faculty schedule weekly office hours in which any student may visit them to discuss academic issues. Students are also able to arrange a time to meet with a member of faculty outside of their office hours.

The team dedicated to the programme consists of:

  • the Programme Director who is responsible for the academic content of the core course and coordinates the content of the programme
  • the Programme Manager who is responsible for coordinating all logistical aspects of the programme and assisting students with logistical matters

You will also be assigned an academic mentor who will be available for guidance and advice on academic or personal concerns.

There are many opportunities to extend your learning outside the classroom and complement your academic studies at LSE. LSE LIFE is the School’s centre for academic, personal and professional development. Some of the services on offer include: guidance and hands-on practice of the key skills you will need to do well at LSE: effective reading, academic writing and critical thinking; workshops related to how to adapt to new or difficult situations, including development of skills for leadership, study/work/life balance and preparing for the world of work; and advice and practice on working in study groups and on cross-cultural communication and teamwork.

LSE is committed to enabling all students to achieve their full potential and the School’s Disability and Wellbeing Service provides a free, confidential service to all LSE students and is a first point of contact for all disabled students.

Professional Development Programme

Overview

The Department of Finance runs an extensive Professional Development Programme alongside the academic programme in order to support and prepare students to enter the job market. Starting in the pre-sessional course in September, students are given a wide range of careers support, from CV workshops and application advice to sector overviews and opportunities to meet and network with recent alumni who are working in London.

We run a number of events to best prepare students for the competitive financial services sector job market:

Introduction to careers in Finance

City Speaker Series

CV and cover letter workshops

Consulting case study course

1-to-1 CV checking

Networking skills session

Job application form skills session

Alumni panel and networking reception

Throughout the year, in addition to the great service offered by LSE Careers, the Department of Finance provides tailored, individual careers support to its students via a number of highly experienced sector consultants and Associate Programme Directors, each with significant experience of working in financial services.

Careers

Graduate destinations

Graduates of the Department have excellent career prospects relative to their peers. Our MSc programmes prepare students for a range of careers in investment banking, consulting and the wider financial services sector, as can be seen in the Department of Finance Employment Report.

Recent graduates from this programme have gone on to work in fields such as consulting, finance and banking, insurance, management, regulation and supervision, and public administration, among others. 

In addition to the internationally recognised research environment and academic rigour of its teaching programmes, a great advantage of studying at LSE is the reputation it holds amongst employers for producing high level graduates. Both the LSE Careers Service and the Department of Finance aim to help its students be as successful as possible on the job market once they graduate from the programme.

NB: This programme is not intended as suitable preparation for the PhD Finance at LSE (if you are interested in PhD study, please see MSc Finance and Economics).

LSE Careers

LSE Careers is a far-reaching resource available to LSE students and alumni, and is one of the best in the UK. Once registered at LSE you will be able to access the variety of resources and services it provides. These include:

Recruitment fairs

Company presentations

  Interview and application skills session  

  Personal careers meetings  

CV checking

Advice sessions

LSE is very fortunate to attract the top recruiters in many sectors which enables the careers service to run an LSE-exclusive vacancy board full of internships, voluntary, part-time and graduate positions. In many cases, recruiters actively target our students and only choose to visit certain university campuses.

During the Michaelmas Term it is likely that there could be a careers presentation or event that you wish to attend every day of the week.

Alumni network

The Department’s multiple well-established master’s programmes mean we have a large and wide-ranging alumni network. Students get direct access to this through the alumni networking events that take place during the pre-sessional, Michaelmas term and Lent term.

With alumni in top jobs and senior positions in London and overseas, this great international network has brought employment opportunities directly to our current students as former graduates and their employers look to hire the very best.

The Department has a strong presence on LinkedIn and encourages all alum to connect with us and to keep us updated as their careers progress. The Department's LinkedIn pages facilitate online engagement between alums and contain details of news and events as well as programme specific groups.

In the past we have had great success linking up students to alumni and also alumni from different classes with each other, forming both professional and personal bonds.

City Speaker Series

During September the Department organises a number of City Speaker lectures, where practitioners from a range of different areas of finance are invited in to talk to our students about their roles and the skills required to succeed. These sessions offer an informal opportunity for students to learn about specific sectors within finance and to assess their fit for specific careers and roles.

In previous years the City Speaker Series has included representatives from:

Alliance & Bernstein

Citi

Credit Suisse

Fidelity

Goldmans Sachs

Houlihan Lokey

HSBC

JP Morgan

Morgan Stanley

McKinsey Risk Management 

Nomura

Procter & Gamble

Standard Bank

Student life

As a student at LSE you’ll be based at our central London campus. Find out what our campus and London have to offer you on academic, social and career perspective. 

Student societies and activities

Your time at LSE is not just about studying, there are plenty of ways to get involved in extracurricular activities. From joining one of over 200 societies, or starting your own society, to volunteering for a local charity, or attending a public lecture by a world-leading figure, there is a lot to choose from. 

The campus 

LSE is based on one campus in the centre of London. Despite the busy feel of the surrounding area, many of the streets around campus are pedestrianised, meaning the campus feels like a real community. 

Life in London 

London is an exciting, vibrant and colourful city. It's also an academic city, with more than 400,000 university students. Whatever your interests or appetite you will find something to suit your palate and pocket in this truly international capital. Make the most of career opportunities and social activities, theatre, museums, music and more. 

Want to find out more? Read why we think London is a fantastic student city, find out about key sights, places and experiences for new Londoners. Don't fear, London doesn't have to be super expensive: hear about London on a budget

Student support and resources

We’re here to help and support you throughout your time at LSE, whether you need help with your academic studies, support with your welfare and wellbeing or simply to develop on a personal and professional level.

Whatever your query, big or small there are a range of people you can speak to and who will be happy to help.  

Academic mentors – an academic member of staff who meets with you during the course of the year to discuss your academic progress and who can help with any academic, administrative or personal questions you have. (See Teaching and assessment)

Department librarians – they will be able to help you navigate the library and maximise its resources during your studies. 

Accommodation service  - they can offer advice on living in halls and offer guidance on private accommodation related queries. 

Class teachers and seminar leaders – they will be able to assist with queries relating to a specific course you are taking. 

Disability and Wellbeing Service – the staff are experts in long term health conditions, sensory impairments, mental health and specific learning difficulties. They offer confidential and free services such as student counselling, a peer support scheme, arranging exam adjustments and run groups and workshops. 

IT help– support available 24 hours a day to assist with all of your technology queries.  

LSE Faith Centre – home to LSE's diverse religious activities and transformational interfaith leadership programmes, as well as a space for worship, prayer and quiet reflection. It includes Islamic prayer rooms and a main space for worship. It is also a space for wellbeing classes on campus and is open to all students and staff from all faiths and none.  

Language Centre– the centre specialises in offering language courses targeted to the needs of students and practitioners in the social sciences. We offer pre-course English for Academic Purposes programmes; English language support during your studies; modern language courses in 9 languages; proofreading, translation and document authentication and language learning community activities.  

LSE Careers ­- with the help of LSE Careers, you can make the most of the opportunities that London has to offer. Whatever your future career plans, LSE Careers will work with you, connecting you to opportunities and experiences from internships and volunteering to networking events and employer and alumni insights. 

LSE Library  Founded in 1896, the British Library of Political and Economic Science is the major international library of the social sciences. It stays open late, has lots of excellent resources and it’s a great place to study. As an LSE student, you’ll have access to a number of other academic libraries in Greater London and nationwide. 

LSE LIFE – this is where you should go to develop skills you’ll use as a student and beyond. The centre runs talks and workshops on skills you’ll find useful in the classroom, offer one-to-one sessions with study advisers who can help you with reading, making notes, writing, research and exam revision, and provide drop-in sessions for academic and personal support.(See ‘Teaching and assessment). 

LSE Students’ Union (LSESU) – they offer academic, personal and financial advice and funding. 

PhD Academy - is available for PhD students, wherever they are, to take part in interdisciplinary events and other professional development activities and access all the services related to their registration. 

Sardinia House Dental Practice - offers discounted private dental services to LSE students. 

St Philips Medical Centre - based in Pethwick-Lawrence House the centre provides NHS Primary Care services to registered patients. 

Student Services Centre – our staff here can answer general queries and can point you in the direction of other LSE services.  

Student advocates and advisers– we have a School Senior Advocate for Students and an Adviser to Women Students who can help with academic and pastoral matters. 

Contact us

If you have any questions about the academic programme or admissions process please check our frequently asked questions page, or contact the Department of Finance Admissions team at finance.admissionsenquiries@lse.ac.uk.

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