This programme offers a firm grounding in operational research and finance in preparation for careers in financial institutions. You’ll develop understanding of how operational research, statistical and optimisation techniques are applied to practical problems and gain many key workplace skills. A three-month project follows successful completion of the instructional component. The majority of projects involve either working on a placement or in partnership with a company or organisation.
Full time study: This one year masters programme is suitable for numerate graduates. The MSc programme lasts for twelve months.
Part-time study: This scheme is suitable for numerate students who are qualified to enter the one year full time scheme but wish to study on a part time basis. Project work takes the special circumstances of a particular student into account.
-to give you a thorough knowledge of the mathematical, financial, computational and communication skills needed for the practical application of Operational Research and finance
-to give you a broad appreciation of related disciplines important in Operational Research
-to illustrate the use of Operational Research and finance tools in a wide range of applications. This part of the programme is not just descriptive since much of the application of Operational Research is best learned by active involvement. The 3-month summer project and computer workshops are designed with this in mind. In addition, seminars provide a forum for the discussion of practical Operational Research issues
-to introduce you to research methods and current issues in Operational Research and finance
The MSc in Operational Research and Finance at the University of Southampton will equip you with skills in revenue management, credit scoring, and financial risk management that are highly sought by employers, and this degree will give you a deep understanding of applied analytics and financial modelling that is applicable across the financial institutions.
The summer dissertation gives you an opportunity to develop your research skills, often in a commercial setting, and our industrial liaison team will work with you to find a project that suits your skills and ambitions.
Operational Research is the application of scientific methods to the study of complex organisational problems. In this degree course, there is an emphasis on complementary financial studies. Even within the same organisation Operational Research and Finance tends to be highly varied because of its project-driven nature. This breadth of experience offers an exciting and rewarding career in many financial organisations, enabling many Operational Research workers to progress to a career in general management. Moreover the nature of the work brings an Operations Research and Finance graduate into early contact with senior management, and career advancement is typically rapid.
An MSc is generally accepted as being highly desirable for starting and developing a career in OR and financial modelling. The MSc is also a good preparation for research work.
A highlight of the programme is the 3-month summer project (http://www.southampton.ac.uk/cormsis/mscsummerproject/index.page). The student is usually placed with a nearby company and works on a real problem of practical importance to that company.
The Operational Research Group in Mathematics is a strong committed team of 11 lecturing staff and a number of research staff. The Group teaches a wide range of undergraduate and postgraduate courses, as well as undertaking consultancy work for outside organisations. Many of the staff are internationally known in their fields of research.
This Committee is a good indicator of the high regard in which the Southampton MSc programmes involving Operational Research are held by outside organisations. Its purpose is to ensure that the MSc programmes produce graduates with the requisite skills for the needs of industry. It also provides a focal point for liaison between the Operational Research Group and industry. You have the chance to meet the Committee several times during the year. Major companies including Shell, British Airways, BAA, BT, The AA, Dstl and HM Revenue & Customs are represented on the Committee.
Compulsory modules: Corporate Finance; Data Analytics; Deterministic Operational Research (OR) Methods; Presenting Reports; Statistical Methods; Stochastic OR Methods; Visual Basic for Applications
Optional modules include: Credit Scoring and Data Mining; Financial Portfolio Theory; Financial Risk Management; Forecasting; Game Theory in Business; Nonlinear Optimisation; Data Visualisation Plus dissertation as three-month project (MSc only)
This program is designed to develop informed professionals who will be able to identify, measure and manage the risks latent in investments, business decisions or financial transactions.
The significant social costs paid by societies due to the recent financial crisis, highlight the importance of effective risk management.
Being a University Partner of PRMIA (Professional Risk Managers' International Association), our program will help you join the ranks of the globally growing profession of risk management and pursue a career dealing with some of the hottest challenges in business today:
Key features of the program
The MSc in Risk Management is Designed for:
International Recognition: Being accredited by the New England Association of Schools and Colleges (NEASC) and PRMIA University Partner, the program offers international and professional reputation and acceptance.
Hands-on: The specialization courses are tied to professional practice and aim to address pragmatic challenges faced by risk managers.
Integrated: The modular structure of the curriculum ensures that the program is well balanced around three themes: competency in analytical skills, knowledge of financial theory and ability to measure and control risk.
Aware: Studying risk dynamics allows for a deeper understanding of the contagion mechanisms that created the global financial crisis with significant impact on societies.
Innovative: The program offers the opportunity to master topics that differentiate from standard finance curricula, such as the challenges faced by financial institutions, the role of regulation in promoting financial stability and the application of quantitative processes that focus on tail risks.
This programme will show you how to use mathematical techniques to tackle real-life problems ranging from scheduling flights and routing mobile phone calls to managing investments and minimising risks. Operational Research (OR) is an important skill that is in high demand.
This MSc will give an Operational Research perspective on risk and its management.
This programme involves two taught semesters of compulsory and option courses followed by your dissertation project.
Compulsory courses have previously included:
Option courses are generally grouped into the following areas:
As part of your option course choices Operational Research with Risk requires you to study a combination from a set of courses which, previously, has included
The skills you will learn are in demand by a vast range of high-profile organisations including consultancy firms, companies with operational research departments such as airlines or telecommunications providers, financial firms and the public sector.
Recent graduates have joined British Airways, the Government OR Service, Barclays, Deloitte, Capgemini and smaller specialised OR, finance and energy companies.
The dissertation projects of approximately half the students on this programme take place in public and private sector organisations. Other students choose a University-based project.
The M.Sc. in Engineering for Natural Risk Management aims to train professionals capable of working in all sectors of safety and civil protection, both public and private, at national and international level. Thanks to its multidisciplinary nature, the program will provide the skills to coordinate the activities of a complex system such as civil protection.
The student of the M.Sc. in Engineering for Natural Risk Management at the end of his studies will have the following knowledge and understanding capabilities:
a) Knowledge of physical phenomena that generate disasters
b) Capacity of understanding of the mechanisms of interaction between natural events and industrial activities that can generate technological risk
c) Ability to understand and evaluate the legal implications related to the management of emergency situations.
The acquired knowledge may be applied for the:
a) Use the most advanced technologies in order to assess risk exposure and vulnerability, predict the occurrence of catastrophic events and post disasters impact assessment.
b) Assessment of environmental impact of natural disasters
c) Definition of emergency plans for the integrated risk management and decisions support in emergency situations
The courses are fully taught in English. The fourth semester is mainly devoted to internships and thesis work to facilitate international exchanges and contacts with the labour market.
The program has the support of CIMA Foundation, expert center of the national civil protection, which is based in the University Campus of Savona. CIMA has the University of Genoa, the Department of Civil Protection, the Liguria Region and the Province of Savona as founding members. CIMA will provide laboratories, researchers and administrative staff to support the teaching activities.
Students are offered the opportunity to carry out internships/periods of study at Italian and foreign institutions and universities.
1. public organizations and administrations;
2. international organizations that deal with emergencies and disasters;
3. international development cooperation;
4. humanitarian organizations;
5. private sector, insurances;
6. professional services;
7. research facilities;
8. operational centers for forecasting natural disasters and decision support.
Typical career opportunities for graduates in Engineering for Natural Risk Management are:
a. responsible for managing emergencies in public institutions/government (civil protection);
b. responsible in entities involved in the management of emergency conditions (eg. the fire-fighters, Forestry Police);
c. expert in risk monitoring in public bodies and international organizations;
d. responsible for planning the phases of management of emergencies in public bodies;
e. risk expert in insurance companies;
f. expert in operational management of emergencies in international governmental organizations, non-governmental and development cooperation;
g. expert in mapping of hazardous conditions with reference to security from natural and industrial risks working for professional offices, public/private institutions, public administration.
The aim of the MSc in Banking and Risk is to give students the knowledge, understanding and key skills that will enable them to be effective Managers in financial institutions, especially banks, in any country in the world.
Recent events demonstrate that the successful management of banks is of crucial importance to western economies. Banking is an industry rather than an academic discipline and the study of the management of banks is multidisciplinary. The approach of this programme is to consider the structural, financial and risk and asset management functions of banks.
Whilst there are many masters degrees involving banking offered in the UK, the vast majority provide descriptive material about what banks actually do. The Edinburgh Masters differs from the majority in that it has a major emphasis on what decisions Managers in banks should make and how to make them. The course has been designed by asking the question ‘what skills do Managers in risk functions need to be technically excellent at their job.’ This approach is unique and has shaped the content of modules and the structure of the programme.
The MSc in Banking and Risk utilises knowledge and skills gained through the research carried out by members of the Credit Research Centre (CRC) in the Business School. This is a leading international research centre that specialises in research into credit risk modelling.
A strong academic base, passionate faculty and international cohort will ensure a rewarding student experience in our city-centre campus. The school has widespread industry links and students will have exposure to a range of guest speakers.
Learning will primarily be through lectures, set reading, class discussions, exercises, group-work assignments, problem solving in tutorials and case studies. Assessment methods include examinations, assignments, presentations or continuous assessment.
Students who follow this programme will gain: