On our MSc Risk Management, you will undertake research methods and a dissertation tailored towards risk management. This course provides you with all you need to establish your career path to a Chief Risk Officer position in the areas of healthcare, aviation, law, engineering, oil and gas, health and safety, and insurance.
It is recognised by the Chartered Insurance Institute, the world’s leading professional body for insurance and financial services. In addition, graduates automatically become affiliate members of the Institute of Risk Management.
Academic English preparation and support
If you require additional support to take your language skills to the required level, you may be able to attend a presessional course at the Centre for English Language Education, which is accredited by the British Council for the teaching of English in the UK. Students who successfully complete the presessional course to the required level can progress to postgraduate study without retaking IELTS or equivalent.
Specialist business and management courses are available and you could be eligible for a joint offer, which means you will only need to apply for your visa once. Students who enter via the CELE route are exempt from paying the school's £2,000 course deposit. For more details, please contact us.
- This course is recognised by the Chartered Insurance Institute, the world's leading professional body for insurance and financial services
- Graduates automatically become affiliate members of the Institute of Risk Management
- Part of an elite group of EQUIS and AMBA accredited business schools
- 6th in the UK for research power in the latest Research Excellence Framework, with teaching underpinned by the latest developments
- An inspiring research portfolio worth £799m
- 91.1% of MSc graduates from Nottingham University Business School secured work, self-employment or further study within six months of graduation
- More than 19,000 Business School alumni connect you to a powerful global network of business contacts
Across the autumn and spring semesters, you will take 120 credits of taught modules. Each module typically consists of 10 two to three hour sessions.
You will complete a 60-credit dissertation over the summer, and will be allocated an appropriate dissertation supervisor who will oversee your progress.
Research Methods for Risk Management
This module is an introduction to research methods in risk management relating to literature review, asking research questions and objectives, research design, formulating research hypotheses, data collection, data analysis, presentation and discussion of findings.
- Introduction Qualitative Analysis: This part of the module will be concerned with the collection and analysis of qualitative data
- Introduction Quantitative Analysis: This part will be concerned with the collection and analysis of quantitative data
The module will include the following topics:
- Introduction to risk (the meaning and nature of risk)
- Risk and individuals (for example, risk perceptions, risk aversion)
- Risk and organisations (for example, risk appetite, risk and incentives, internal controls, organisational failure)
- Risk and markets (for example, market sources of risk, market pricing of risk)
- Risk modelling (qualitative and quantitative)
Risk and Society
The module will provide critical foundations in societal aspects of risk. You will develop conceptual and practical understanding of risk problems in context, including the emergence and development of risk concepts, the character and diversity of risk governance and regulatory regimes, and varieties of public risk management and communication practices across different sectors and public and institutional settings.
You will gain knowledge of social science and public management theories, concepts, techniques, and different critical approaches to explaining and addressing societal risk issues.
We hope that the module will enable you to make sense of some of the different perspectives that exist and understand their strengths and limitations when applied in the modern business environment. We will try to address various questions in this environment:
- Can all risks be identified?
- Can all risks be managed?
- Should all risks be managed?
- If not, how do we decide which should be ignored and which managed?
- How can risk, in particular financial risk, be measured?
- What techniques of risk management are available and what are their strengths and weaknesses?
- How can the risk management process be structured and planned?
Quantitative Risk Management
The module covers:
- Introduction and historical overview
- Statistical underpinnings of quantitative risk management
- Measures of financial risk
- Risk measurement in practice: Parametric approaches, non-parametric approaches, Monte Carlo approaches, extreme value approaches
- Liquidity risk
- Credit risk
Theory of Risk and Applications
This module introduces you to individual risk theory. Decision-making under certainty is covered and the standard theory of subjective expected utility is developed as a special case, along with problems of information asymmetry. Applications to gambling and insurance markets are reviewed. Empirical studies of these theories, based on laboratory or field data, are reviewed.
You will develop the ability to undertake independent research in the area of risk management either in the context of further academic research or consultancy. You will carry out independent research of either qualitative or quantitative nature and identify theoretical issues underlying contemporary debates.
The above is a sample of the typical modules that we offer but is not intended to be construed and/or relied upon as a definitive list of the modules that will be available in any given year. This course page may be updated over the duration of the course, as modules may change due to developments in the curriculum or in the research interests of staff.
Teaching methods and assessment
You will be assessed through a combination of individual assignments or group projects and written exams.
Risk management is not just for large multinationals but also for SMEs and entrepreneurs. I conducted an exploratory study on the risks involved in using crowd funding for technology start-ups.
Careers and professional development
This course is accredited by the Chartered Insurance Institute.
This course is recognised by the Chartered Insurance Institute, the world's leading professional body for insurance and financial services.
Graduates automatically become affiliate members of the Institute of Risk Management.
Career destinations for our postgraduates include:
- finance and investment analysts
- higher education teaching professionals
- investment bankers
- IT business analysts
- management consultants
- marketing professionals
- public relations professionals
- university researchers
Postgraduate careers team
Our in-house Postgraduate Careers Team provides expert advice and guidance so that you can make an informed decision about the right career path for you.
As soon as you have accepted your offer of a place at the Business School, we can begin working with you to support your career planning needs. You can take part in pre-course careers discussions and take advantage of remote and online support through Career Leader, an online assessment tool which helps you to measure your business interests and motivations before starting your course.
Our support continues throughout your time at Nottingham and after you graduate.
Average starting salary and career progression
91.1% of postgraduates from Nottingham University Business School secured work or further study within six months of graduation. £25,000 was the average starting salary, with the highest being £57,200.*
* Known destinations of full-time home postgraduates who were available for employment, 2016/17. Salaries are calculated based on the median of those in full-time paid employment within the UK.
Careers support and advice
We offer individual careers support for all postgraduate students whatever your course, mode of study or future career plans.
You can access our Careers and Employability Service during your studies and after you graduate. Expert staff will help you research career options and job vacancies, build your CV or résumé, develop your interview skills and meet employers.
More than 1,500 employers advertise graduate jobs and internships through our online vacancy service. We host regular careers fairs, including specialist fairs for different sectors.
Fees and funding
As a student on this course, you should factor some additional costs into your budget, alongside your tuition fees and living expenses.
You should be able to access most of the books you'll need through our libraries, though you may wish to purchase your own copies or more specific titles.
Scholarships and bursaries
See information on how to fund your masters, including our step-by-step guide. Further information is available on the school website.
There are different ways to fund your postgraduate degree, from scholarships to loans – explore postgraduate funding.
UK government loan
Masters students from England and the EU could qualify for a postgraduate masters loan of up to £10,906.
EU and international students
We offer regional awards for EU and international masters students.
For information on specific funding opportunities and entry requirements, see our webpage for students from your country.
This online prospectus has been drafted in advance of the academic year to which it applies. Every effort has been made to ensure that the information is accurate at the time of publishing, but changes (for example to course content) are likely to occur given the interval between publishing and commencement of the course. It is therefore very important to check this website for any updates before you apply for the course where there has been an interval between you reading this website and applying.