Finance (Banking & Risk Management) (MSc)

Our MSc Finance (Banking & Risk Management) programme is offered by the College of Business & Law at University College Cork (UCC) in Ireland. It involves an advanced study of the theory and practice of investment, banking and risk management. You will study advanced Finance, Financial Economics and Quantitative Financial Techniques through data analysis software such as Python which is very much in demand by the industry.

Your studies build to 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.

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
- Academia

You will be taught by experienced academics, many of whom have experience in financial markets as traders, financial economists, equity analysts, and economic consultants to the 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. 

Course Modules

Candidates take taught modules with examinations and coursework over two semesters and then complete a dissertation in the summer term. You are taught in three broad streams: Finance, Financial Economics and Quantitative Finance. The taught modules for each stream are as follows:

Finance

• FI6003 - Asset Pricing and Allocation: examines models of asset returns, stock price predictability and market efficiency.
• EC6046 - Fund Management and Evaluation: studies portfolio management, return and risk evaluation in-stock selection, market timing and persistence.
• EC6005 - Derivative Securities: 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.
• FI6005 - Equity Valuation: develops practical knowledge, skills and abilities in the valuation of equities within international financial markets using a comprehensive range of valuation models.
• FI6001 - Treasury Risk 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 - Financial Institutions and Money Markets: 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 - Macroeconomics for Financial Markets: 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: focuses on how economic policy and the behaviour of agents impact international capital flows, exchange rates and global investments. 

 Quantitative Finance

• EC6062 - Applied Econometrics: 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 Python, a cutting-edge data analysis software in demand throughout the finance industry.
• EC6063 - Applied Time Series Analysis: 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 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.
• EC6010 – Dissertation in Financial Economics

The part-time option will be taught during weekday working hours over 2 years. Any modules listed above are indicative of the current set of modules for this course but are subject to change from year to year.

• See the Postgraduate College Calendar for further course details.

 

Chartered Financial Analyst Institute

The course covers much of the Chartered Financial Analyst Institute (CFA) syllabus (levels 1-3) and includes regular presentations and workshops from outside practitioners. You will also manage your own simulated asset portfolio online throughout the year to help you put theory into practice.

The course brings you into direct contact with financial markets, their issues and practices through practitioner seminars and visiting speakers throughout the year, across all modules.

In this course:

• you will be trained in financial research, consulting, and professional report writing
• you will be taught about the quantitative methods relevant to the financial sector and required for PhD-level research
• your interpersonal, organisational, and leadership competencies will be developed
• your oral and written communication skills will be improved through assignments, dialogue, exercises, presentations, etc.

Our blended learning approach to education combines lectures, projects, seminars, group discussions, presentations, and both 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. 

For MSc Finance (Banking and Risk Management) (NFQ Level 9, Major Award)
On successful completion of this programme, students should be able to:

• Communicate and work effectively to a high professional standard;
• Demonstrate advanced analytical and problem solving skills associated with effective practice;
• Engage in advanced application of frameworks and techniques in organistaional settings;
• Design and undertake independent research and analysis to be written up in a succinct and readable manner;
• Be globally aware and locally engaged.

For Postgraduate Diploma in Finance (Banking and Risk Management) (NFQ Level 9, Major Award)
On successful completion of this programme students should be able to:

• Communicate and work effectively to a high professional standard;
• Demonstrate advanced analytical and problem solving skills associated with effective practice;
• Engage in advanced application of frameworks and techniques in organistaional settings;
• Design and undertake independent research and analysis to be written up in a succinct and readable manner;
• Be globally aware and locally engaged.

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 Python and other software for financial and data analysis. You will be assessed through a mix of exams and practical coursework.

Who teaches this course

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

• Niall O'Sullivan
• Eleanor Doyle
• Mark Mulcahy
• Fergal O’Connor
• Jun Gao
• Ella Kavanagh
• Meadhbh Sherman
• Geraldine Ryan
• Don Walshe
• Ms. Aisling Finucane

Full module information is detailed in the section below.

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. 

View the grades comparison table

Non-EU Candidates

Non-EU candidates are expected to have educational qualifications of a standard equivalent to Irish university primary degree level. In addition, where such candidates are non-native speakers of the English language they must satisfy the university of their competency in the English language. To verify if you meet the minimum academic requirements for this programme please visit our qualification comparison pages.

For more detailed entry requirement information please refer to the International website .

1. Choose Course

Firstly choose your course. Applicants can apply for up to three courses under one application. Details of taught courses are available on our online prospectus.

2. Apply Online

Once you have chosen your course you can apply online at the online application portal. Applicants will need to apply before the course closing date. There is a €50 application fee for all courses apart from the Education - Professional Master of Education - (Secondary School/Post-Primary Teacher Training) which has a €100 application fee.

3. Gather Supporting Documents

Scanned copies of the following documents will need to be uploaded to the online application portal in support of your application. Applicants may need to produce the original documents if you are accepted onto a course and register at UCC.

• Original qualification documents listed on your application including transcripts of results from institutions other than UCC
• Any supplementary items requested for your course.

Please log into the online application portal for more details.

4. Application processing timeline

Our online application portal opens for applications for most courses in early November of each year. Check specific course details. 

5. Rounds

For courses that are in the rounds system (Irish and EU applicants), please check the rounds closing dates here.

Questions on how to apply?

Please use our web enquiry form to contact us.

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 30 June 2022

Non-EU Applications

For full details of the non-EU application procedure please visit our how to apply pages for international students. In UCC, we use the term programme and course interchangeably to describe what a person has registered to study in UCC and its constituent colleges, schools, and departments.

Not all courses are open to international/non-EU applicants, please check the fact file above.

For more information please contact the International Office.