Our MSc in Operational Research, Applied Statistics and Financial Risk aims to equip you with the necessary analytical skills, methods and ways of thinking to tackle and analyse complex organisational problems, help make better decisions, and to become confident statistical analysts.
This course is ideal training for those who wish to study, in greater depth, risk models, particularly for application to financial markets but also to other sectors.
You will undertake case studies and project work which will give you the opportunity to put your skills into practice and provides valuable experience of working in the field. The dissertation project, typically undertaken with an industrial partner, will allow you to work with complex data in a creative manner and a problem-solving environment, as well as to communicate your ideas and findings effectively.
• This course will give you the opportunity to study risk models in greater depth, particularly those models used in financial markets.
• The skills you will develop are highly transferable for use within industry, business and the public sector.
• The School of Mathematics has excellent links with a number of organisations who employ Operational Researchers, Statisticians and Financial / Risk Modellers
The course can be completed in one year with full-time study or in three years by part-time study.
This full-time one year course includes a three month period working with a company on a real problem that they have identified. You will take 110 credits of core modules and 10 credits of optional modules in the taught component of the programme. This is followed by a 60 credit summer project.
As a part-time student you will typically need to be in the University for lectures and workshops for the equivalent of one day per week over 24 weeks each year. You will usually complete the taught component of the programme over two years with up to a further year to complete the project dissertation.
The programme will prepare you with essential techniques in Operational Research and Applied Statistics, and then allow you to select from optional courses in topics such as supply chain modelling, healthcare, and Statistics and Operational Research for Government (delivered with input from the Office for National Statistics and Welsh Assembly Government).
You will have the opportunity to put the theory into practice, through case studies and project work in the ‘real-world’. An important feature of the MSc is the project dissertation, allowing you to work with an external company.
For a list of modules for the FULL-TIME route, please see website:
The methods of teaching we employ will vary from module to module, as appropriate depending on the subject matter and the method of assessment. We teach using a mixture of lectures, seminars, computer workshops and tutorials.
You will apply the skills you develop through presentations, research assignments, case studies and the summer project.
During the course your development will primarily be monitored via tutorial sheets, with other means where appropriate.
Written examinations, often in combination with an in-course element forms overall assessment.
This programme prepares you for a career in areas such as operational research, management science, statistics, risk analysis, financial modelling, actuarial risk and credit scoring, management consultancy, business analytics, supply chain management, government operational research /statistics.
Our School of Mathematics has well established and strong links with many employers of Operational Researchers and Applied Statisticians, who regularly offer projects and/or recruit our students.
An important feature of the MSc programme is to undertake a project dissertation. This allows you to apply the methods and skills acquired in the taught programme in a real-world setting, and will typically involve working with a company on a project of importance. Some of these placements will be abroad given our strong international connections. Cardiff School of Mathematics already has well established links with many organisations that employ Operational Researchers, Statisticians and Financial Modellers including Admiral, Nationwide, ONS, Lloyds Banking Group and Ernst and Young amongst others.