Postgraduate study
On this course, we will help you develop understanding and knowledge in the areas of risk analysis, risk and society, corporate risk, quantitative risk management, and the strategic use of insurance in risk management.
 
  
Qualification
MSc Risk Management
Duration
1 year full-time
Entry requirements
2.1 (or international equivalent) in business studies, economics or management
Other requirements
Personal statement and a list of modules being studied in the final year (for applicants who have not yet completed their undergraduate degree)
IELTS
6.5 (no less than 6.0 in any element)

If these grades are not met, English preparatory courses may be available
Start date
September
UK/EU fees
£12,465 - Terms apply
International fees
£21,465 - Terms apply
Accreditation
Recognised by the Chartered Insurance Institute
Campus
Jubilee Campus
School/department
 

 

Overview

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.

Contrary to popular belief, risk management is not just for large multinationals but also for SMEs and entrepreneurs. For my dissertation, I am conducting an exploratory study on the risks involved in using crowd funding for technology start-ups, which I would not have been able to do without the background knowledge I gained through this course.
 

Sebastian Pigge, MSc 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.

Key facts

  • 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
 

Full course details

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.

Assessment

You will be assessed through a combination of individual assignments or group projects and written exams.

 
 

Modules

Core modules

Semester one

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.

  1. Introduction Qualitative Analysis: This part of the module will be concerned with the collection and analysis of qualitative data
  2. Introduction Quantitative Analysis: This part will be concerned with the collection and analysis of quantitative data
 
Risk Analysis

The module will include:

  • 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 society (for example, societal risks, how safe is safe enough?, risk and regulation, role of government in risk)
  • risk analysis (measuring and modelling)
  • risk and markets (for example, market sources of risk, market pricing of risk)

The module gives a broad introduction to the conceptualisation and theory of risk, highlighting how risk affects stakeholders and society.

 
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. 

 

Semester two

Corporate Risk

The module covers:

  • the concept of risk in large organisations
  • risk management as a process
  • the tools and techniques of corporate risk management
  • practical issues in managing risk in large organisations
 
Quantitative Risk Management

The module covers:

  • the development of quantitative risk management and its use by firms to measure and manage their risk
  • measures of risk: value at risk, expected shortfall, and other risk measures
  • uses of quantitative risk measures: estimating risk measures - historical simulation approaches, parametric approaches and Monte Carlo simulation approaches
  • volatility forecasting
  • estimating liquidity risks
  • backtesting risk models
  • risk measurement using Extreme Value Theory
  • model and parameter 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.

 

Summer

Dissertation

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. Due to the passage of time between commencement of the course and subsequent years of the course, modules may change due to developments in the curriculum and information is provided for indicative purposes only.

 
 

Fees and funding

See information on how to fund your masters, including our step-by-step guide. Further information is available on the school website.

Additional costs

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.

Government loans for masters courses

The Government offers postgraduate student loans for students studying a taught or research masters course. Applicants must ordinarily live in England or the EU. Student loans are also available for students from Wales, Northern Ireland and Scotland.

International and EU students

Masters scholarships are available for international students from a wide variety of countries and areas of study. You must already have an offer to study at Nottingham to apply. Please note closing dates to ensure your course application is submitted in good time.

Information and advice on funding your degree, living costs and working while you study is available on our website, as well as country-specific resources.

 
 

Careers and professional development

Professional accreditation

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

Career destinations for our postgraduates include:

  • accountants
  • 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.

Employability and average starting salary

91.1% of postgraduates from Nottingham University Business School who were available for employment 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 2016/17. Salaries are calculated based on the median of those in full-time paid employment within the UK.

Career and professional development

Whether you are looking to enhance your career prospects or develop your knowledge, a postgraduate degree from the University of Nottingham can help take you where you want to be.

Our award-winning Careers and Employability Service offers specialist support and guidance while you study and for life after you graduate. They will help you explore and plan your next career move, through regular events, employer-led skills sessions, placement opportunities and one-to-one discussions.

 
 
 

Disclaimer
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.

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