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1. Study
2. Postgraduate
3. Taught Courses
4. Masters
5. Finance (Banking and Risk Management)

Course Fact File

Code	MSCBRM
Duration	1 Year Full-time; 2 Years Part-time
Teaching Mode	Full-time, Part-Time
Qualifications	MSc
NFQ Level	Level 9
Closing Date	Rolling deadline. Open until all places have been filled. Early application is advised.
Non-EU Closing Date	Open until all places have been filled or no later than 30 June. Early application is advised.
Start Date	9 September 2024

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.

- An Industry Placement in banking or finance 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 your 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. 

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.
• EC6075 - Financial Practice and Ethics: prepares students to have an awareness of the professional financial environment, to ensure that they can meet the professional and ethical expectations of employers and begin developing their leadership skills in a modern sustainable business environment.
• EC6626 – Corporate Treasury 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: Students complete an individual academic research project, building on their work in the Research Methods Model, with the help of an academic supervisors.
or
• EC6076 - Industry Placement: complements classroom teaching with exposure to institutional work processes in international finance and other relevant organisations. It will develop students' experience in writing and reporting to a professional audience. This will be done by examining business issues so that students can apply the skills and knowledge developed within the programme by using this industrial placement as an opportunity for business-focused research.

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.

Faculty staff come from across the College of Business & Law and include:

• Professor Niall O'Sullivan
• Professor Eleanor Doyle
• Professor Mark Mulcahy
• Dr. Fergal O’Connor
• Dr. Jun Gao
• Dr. Ella Kavanagh
• Dr. Meadhbh Sherman
• Ms. Aisling Finucane

Why Choose This Course

TheMSc Finance (Banking and Risk Management) programme offered subjects that taught us about real events, rather than just theories. ~ Monica Serafinus – Analyst, Accenture, Cork

The programme provided me with the practical and theoretical knowledge that is required to confidently work within the industry. In particular, the quantitative elements of the course helped develop the analytical skills which are highly valued by employers. ~ Edward Hanlon – Financial Risk Analyst, Wells Fargo, Dublin

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.

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. 

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. 

Fees and Costs

How To Apply

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 Open until all places have been filled or no later than 30 June. Early application is advised.

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