Finance - Banking & Risk Management

Course Outline
The MSc Finance (Banking and Risk Management) programme in UCC involves an advanced study of the theory and practice of investment, banking and risk management. You will study advanced Finance, Financial Economics, Macroeconomics and Quantitative Financial Techniques - taught through in demand data analysis software such as Python or R.

Your studies build to one of the following:

- 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.

- A banking/finance internship [this is subject to formal approval] which you will undertake over the summer at a financial company where you can put the knowledge and skills gained during the course into practice under the supervision of an academic mentor. From this you will write a professional report relating to the role.

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 and,
Academia
You will be taught by experienced academics - many of whom have experience in financial markets as traders, financial economists, equity analysts, and consultants to the finance 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. The course covers much of the CFA Levels 1-3 syllabus and includes regular presentations and workshops from practitioners from across the financial industry.

Global Association of Risk Practitioners

This programme has been accepted into the Global Association of Risk Practitioners (GARP) Partnership for Risk Education. GARP Partnership for Risk Education is granted to institutions that cover at least 70% of the GARP curriculum and allows the programme to award 6 scholarships to students from the programme to take Part 1 of GARPs professional exams each academic year.

Course Practicalities
You attend lectures for approximately 12 hours per week. There are additional research workshop hours and you will also attend regular visiting speaker seminars and practical sessions using statistical and data analysis software for financial analysis.

You will be assessed through a mix of examinations and practical coursework, with a focus on analysing different aspects of financial markets.

The part-time option is taught during weekday working hours over two years.

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 your modules.

In this course:

You will be trained in financial research, consulting, and report writing.

You will be taught about the quantitative methods relevant to the financial sector and required for Ph.D. level research in economics and finance.

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.

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.

Modules
Candidates take taught modules with examinations and coursework over two semesters and then complete a dissertation in the summer term. Modules cover three broad streams: Finance, Financial Economics, and Quantitative Finance.

Finance

FI6003 Asset Pricing: examines models of asset returns, stock price predictability, and market efficiency.
EC6005 Derivatives for Risk Management: 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 Money, Credit, and Banking: 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 International Finance I: 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 II: focuses on how economic policy and the behaviour of agents impact international capital flows, exchange rates, and global investments.

Quantitative Finance

EC6062 Quantitative Finance I: 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 cutting edge data analysis software in demand throughout the finance industry.
EC6063 Quantitative Finance II: 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 the 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.

Summer Term

Either

• EC6010 – Dissertation in Financial Economics, or
• Banking And Finance Internship [subject to formal approval]

Further details on the content and modules are available in the Postgraduate College Calendar.

Modules

Further details on the modules listed above can be found in our Book of Modules. Any modules listed above are indicative of the current set of modules for this course but are subject to change from year to year.

University Calendar

You can find the full academic content for the current year of any given course in our University Calendar.

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.

The closing date for non-EU applications is 30 June 2023

How Do I Apply
1. Check Dates: Check the opening and closing dates for the application process in the fact file boxes at the top of the page.

For Irish and EU applicants we operate a rounds system and you can check the rounds closing dates here.
Note that not all our programmes are subject to the rounds system so check the opening and closing dates for your specific programme in the fact file boxes above.

2. Gather Documents: Scanned copies of supporting documents have to be uploaded to the UCC online application portal and include:

Original qualification documents listed on your application including transcripts of results from institutions other than UCC.
Any supplementary items requested for your course if required.

3. Apply Online: Apply online via the UCC online application portal. Note the majority of our courses have a non-refundable €50 application fee.

Any questions? 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

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

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

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.