Finance - Banking & Risk Management

Our MSc Finance (Banking & Risk Management) programme is offered by the College of Business & Law at University College Cork (UCC) in Ireland. It involves an advanced study of the theory and practice of investment, banking and risk management. You will study advanced Finance, Financial Economics and Quantitative Financial Techniques through data analysis software such as Python which is very much in demand by the industry.

Your studies build to an independent applied research project which you undertake over the summer term where you put the theories and quantitative financial techniques taught to you during your studies into practice, using advanced statistics and software. You choose your own research topic in term 2 and are given one-to-one supervision support by an experienced academic from our teaching team over the summer term.

Our past graduates have gone on to work in a broad range of areas such as:

- Commercial and Investment Banking
- Treasury Risk Management
- Regulation
- Central Banking
- Economic Consulting
- Investment Research
- Hedge Funds
- Academia

You will be taught by experienced academics, many of whom have experience in financial markets as traders, financial economists, equity analysts, and economic consultants to the industry. Students will also manage their own simulated asset portfolio online during the year, putting theory into practice and reflecting on current financial market events.

Why Choose this course
The course brings you into direct contact with financial markets, their issues and practices through practitioner seminars and visiting speakers throughout the year, across all modules.

In this course:

-you will be trained in financial research, consulting, and professional report writing
-you will be taught about the quantitative methods relevant to the financial sector and required for PhD-level research
-your interpersonal, organisational, and leadership competencies will be developed
-your oral and written communication skills will be improved through assignments, dialogue, exercises, presentations, etc.

Our blended learning approach to education combines lectures, projects, seminars, group discussions, presentations, and both individual and group reports.

Connected Curriculum
Our learning approach reflects our commitment to the Connected Curriculum where we emphasise the connection between students, learning, research and leadership through our vision for a Connected University. Our staff are at the forefront of this integrative approach to learning and will support you in making meaningful connections within and between disciplines such as business, finance, and economics.

College of Business and Law Available Scholarships
We support our postgraduate community by offering scholarships and bursaries to prospective and current students. Please see the College of Business and Law Available Scholarships page for more information.

Course Modules
Candidates take taught modules with examinations and coursework over two semesters and then complete a dissertation in the summer term. You are taught in three broad streams: Finance, Financial Economics and Quantitative Finance. The taught modules for each stream are as follows:

Finance
FI6003 - Asset Pricing and Allocation: examines models of asset returns, stock price predictability and market efficiency.
EC6046 - Fund Management and Evaluation: studies portfolio management, return and risk evaluation in-stock selection, market timing and persistence.
EC6005 - Derivative Securities: introduces the concepts and mathematical techniques in pricing derivatives including options, swaps, forwards and futures on underlying assets.
FI6004 - Analysis of Debt Instruments: examines the term structure of interest rates and yield curve analysis, exotic bond valuation, duration, convexity, immunisation, asset-backed securities and bond portfolio management.
FI6005 - Equity Valuation: develops practical knowledge, skills and abilities in the valuation of equities within international financial markets using a comprehensive range of valuation models.
FI6001 - Treasury Risk Management: looks at the measurement and management of risks facing banks and corporations arising from volatility in currency and money markets.

Financial Economics
FI6002 - Regulation and Compliance in Capital Markets: covers the guiding principles behind financial regulation and the main differences between the roles and key legal aspects of different regulatory institutions.
EC6002 - Financial Institutions and Money Markets: looks at the role of money markets and banks in the economy, focuses on understanding the types of risk facing banks and the management of this risk.
EC6001 - Macroeconomics for Financial Markets: looks at macroeconomics theories, models and techniques relevant to financial markets. Topics include business cycles, economic growth, uncertainty, monetary policy, inflation and the labour market.
EC6003 - International Finance: focuses on how economic policy and the behaviour of agents impact international capital flows, exchange rates and global investments.

Quantitative Finance
EC6062 - Applied Econometrics: teaches the theory and application of econometrics for finance. This is taught without the need for prior knowledge of econometrics and is all applied throughout the course using Python, a cutting-edge data analysis software in demand throughout the finance industry.
EC6063 - Applied Time Series Analysis: developing from EC6062 this module introduces you to time series methods in econometrics. It also deals with the application of these methods in finance by providing experience of advanced methods of analysing time-series data sets.
EC6009 - Research Methods: prepares you to undertake your independent research for your dissertation module in the summer term by developing your writing skills and knowledge of research methods. Lecturers from the programme and guest lecturers present their current research throughout the year.
EC6010 – Dissertation in Financial Economics

The part-time option will be taught during weekday working hours over 2 years. Any modules listed above are indicative of the current set of modules for this course but are subject to change from year to year.

See the Postgraduate College Calendar for further course details.

Chartered Financial Analyst Institute
The course covers much of the Chartered Financial Analyst Institute (CFA) syllabus (levels 1-3) and includes regular presentations and workshops from outside practitioners. You will also manage your own simulated asset portfolio online throughout the year to help you put theory into practice.

Requirements
The course is open to applicants with a second class honours grade I in a primary honours degree (NFQ Level 8) or equivalent in a business subject

Or

Applicants with a 2.1 degree or equivalent postgraduate qualification in a related subject with a quantitative element such as mathematics, statistics, engineering, science, etc.

English Language Requirements

Applicants that are non-native speakers of the English language must meet the university approved English language requirements available here.

For applicants with qualifications completed outside of Ireland

Applicants must meet the required entry academic grade, equivalent to Irish requirements, please find our grades comparison by country here.

International/non-EU applicants

For full details of the non-EU application procedure please visit our how to apply pages for international students. In UCC, we use the term programme and course interchangeably to describe what a person has registered to study in UCC and its constituent colleges, schools, and departments.

Not all courses are open to international/non-EU applicants, please check the fact file above.

For more information please contact the International Office.

How Do I Apply
1. Choose Course
Firstly choose your course. Applicants can apply for up to two courses under one application. Details of taught courses are available on our online prospectus.

2. Apply Online
Once you have chosen your course you can apply online at the online application portal. Applicants will need to apply before the course closing date. There is a non-refundable €50 application fee for all courses apart from the Education - Professional Master of Education - (Secondary School/Post-Primary Teacher Training) which has a €100 application fee.

Applicants for the Postgraduate Diploma in Public Health Nursing must apply on the PAC website when the programme opens for applications.

3. Gather Supporting Documents
Scanned copies of the following documents will need to be uploaded to the online application portal in support of your application. Applicants may need to produce the original documents if you are accepted onto a course and register at UCC.

Original qualification documents listed on your application including transcripts of results from institutions other than UCC
Any supplementary items requested for your course.
Please log into the online application portal for more details.

4. Application processing timeline
Our online application portal opens for applications for most courses in early November of each year. Check specific course details.

5. Rounds
For courses that are in the rounds system (Irish and EU applicants), please check the rounds closing dates via link below.

Questions on how to apply?
Please use our web enquiry form to contact us.

Additional Requirements (for all applicants)
Please note you will be required to provide additional information as part of the online application process for this programme. We strongly encourage you to complete this section with all relevant work experiences along with your current occupation as this information will support your application.

Additional information required will include the following:

Please enter the details of professional or voluntary positions held
Please detail your current occupation/specialty.

The closing date for non-EU applications is 15 June

Normally, your work will be assessed by coursework projects (30%) and final examinations (70%).

1 year full-time, 2 years part-time.

Additional Teaching Mode Information
The part-time option will be taught during weekday working hours over 2 years.

Start Date 7 September 2020

Skills and Careers Information
The course brings you into direct contact with financial markets, their issues and practices through practitioner seminars and visiting speakers throughout the year, across all modules.

In this course:
you will be trained in financial research, consulting and professional report writing

you will be taught about the quantitative methods relevant to the financial sector and required for Ph.D. level research

your interpersonal, organisational and leadership competencies will be developed

your oral and written communication skills will be improved through assignments, dialogue, exercises, presentations, etc.

The blended learning approach to education combines lectures, projects, seminars, group discussion, presentations and individual and group reports.