Overview
Who is it for?
Our finance courses are for students who want to progress with the knowledge and skills required for a successful career in the increasingly competitive world of global finance and banking.
The BSc Investment and Financial Risk Management is for students who want to work in a wide variety of finance and investment fields. Maybe portfolio management or investment analysis. Maybe corporate treasury or financial trading. You want to understand the role risk plays in investment decision-making and how to manage it.
Objectives
Our three degrees in finance (Finance, Banking and International Finance, and Investment and Financial Risk Management) provide detailed knowledge of how financial markets work, how companies make investment, financing and acquisition decisions and how modern banks operate.
If your goal is a career in the international investment and risk management world, consider this course your jumping off point. You’ll gain an in-depth knowledge of how modern investment analysts and risk managers operate. As you move through the degree you’ll prepare for your career in investment management, trading or analysis in any area of finance.
You’ll study every aspect of the discipline, from managing global investment portfolios to asset trading. All within a broad sweep of rigorous academic learning encompassing equity markets, bond trading, risk management, derivatives, hedging, investment banking and many other broad areas of risk and investments. As a result, you will gain a good understanding of financial markets, its activities and its products.
The jobs in this field are both exciting and well paid. They demand intellectual rigour and commercial acumen, and by selecting this course, you too can prepare yourself with the skills and competencies these jobs require.
Course Director
Senior Lecturer
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Structure
What will I learn?
On the Investment and Financial Risk Management programme you will:
- Appreciate the usefulness of quantitative finance in today’s financial markets
- Formulate, examine and test hypotheses using all scientific risk management/investment tool
- Learn how to apply academic and vocational skills to investment and risk management problems.
- Comprehend the role and functions of modern financial intermediaries and investment markets.
- Understand the practice of applied investment and risk analysis.
- Fully grasp the risk management process and the associated tools.
- Appreciate the importance of hedging and the role of derivatives/spot trading.
Year 1
The first year is common across all three of our finance courses, with students from the various disciplines studying together. This provides our students with strong foundation to financial markets, banking, economics and quantitative methods. You will also gain an understanding of the tools used in applied investment analysis and enhance your mathematical, statistical and computing skills.
Core modules:
Banking and financial institutions
This module looks at key functions of banking firm. The emphasis is on what differentiates banks from other financial institutions, as well as the information problems inherent in the banking industry. Participants will understand why financial intermediaries exist and their role/impact on the global economy.
Business skills
This module covers communication skills, cognitive skills, IT skills, and social skills. The module aims to provide with an underpinning and understanding of a portfolio of key skills required in the business world to assist participants in their academic study and prepare them for their ensuing professional career.
Finance and investment
This module is an introductory course providing participants with a basic understanding of the financial analysis role in decision-making. More specifically, this module provides a basic level of the core principles of corporate finance, financial markets and investments.
Introductory financial accounting
This module focuses on the interpretation and use of financial accounting information as part of the effective operation of a business. Moreover it looks at the principles that underlie financial accounting, the application of these principles in recording transactions and the preparation of financial statements.
Macroeconomics
This module looks at the macro aspects of economics such as market growth/cycles, measurement of aggregate activity, basic demand side models of GDP determination, aggregate demand/supply, money in the economy, the transmission mechanism of monetary policy, fiscal policy and the public sector, balance of payments, FOREX and international trade.
Mathematics for finance
This module provides an introduction to the basic mathematical techniques used in finance to aid decision making, with illustrations to the relevant problems in finance. It gives you the mathematical foundations that are necessary in your second year Finance and Financial Econometrics courses.
Microeconomics
This module looks at the micro aspects of economics such as resource allocation, demand-supply and price, consumer demand, production and costs, oligopoly versus monopoly, as well as the roots of market failure/success.
Statistics for finance
This module provides an underpinning and understanding of the basic statistical techniques used in finance to aid decision making. It delivers the statistical foundations necessary for the more advanced finance modules.
Year 2
The first half of your second year continues to be consistent across all three finance courses. As the year progresses you will develop the theoretical knowledge that enables you to interpret financial data through the use of advanced statistical tools and formulate and solve complex problems in finance. You will gain a thorough understanding of the framework for the measurement of risk and return.
The course also introduces econometrics and its application to modelling and testing in finance. Hence, you will gain a good understanding of the relationship between financial theory and empirical testing, and application of this knowledge to the appraisal of the empirical evidence in corporate finance and capital markets.
Elective modules enable you to deepen your knowledge of subjects such as investment, finance and risk, insurance and real estate. The second half of your second year gives you the opportunity to begin to specialise with an array of elective modules.
* At least 30 credits (two modules) attained in years 2 and 3 together must come from electives that are specifically relevant to the BSc in Investment and Financial Risk Management. These modules are marked with an asterisk, and include the Final Year project.
Core modules:
Asset management
Corporate finance and valuation
This module presents core corporate finance material, including topics such as company valuation and investment appraisal and examining questions including how should a firm set its dividend policy, from which sources should a company raise capital and how should companies decide on their acquisition strategy.
Derivatives
Financial econometrics
Intermediate financial accounting 1
Portfolio Theory and Investment Valuation
Elective modules:
Bank risk management
International banking
Company valuation *
Introduction to business law
Corporate risk management
Economics for business 2
Intermediate financial accounting 2
Introduction to real estate investment *
Fundementals of Management accounting
Risk analysis and modelling *
Year 3
In the final year, the core modules will enable you to gain in-depth knowledge of investment and financial risk management. You will also select five or six electives which will allow you to extend your knowledge of finance and the applications of mathematical models, enhance your understanding of the role of financial markets or focus on areas such as investment or accounting. As a result, you will be able to demonstrate a good knowledge of the major theoretical tools and theories of finance, and their relevance and application to theoretical and practical problems, their assumptions and weaknesses, and ability to propose alternatives.
In year 3 Students are required to take 3 core modules and 5 elective modules (totaling 120 credits). Students with an average grade of less than 65 must do the Final Year Applied research project alongside two core and five elective modules. Students with an average grade of move than 65 may opt instead to take the Final Year Project alongside two core and four elective modules.
* At least 30 credits (two modules) attained in years 2 and 3 together must come from electives that are specifically relevant to the BSc in Investment and Financial Risk Management. These modules are marked with an asterisk, and include the Final Year project.
Core modules:
Fixed income portfolio management
The aim of this course is to develop an understanding of fixed income securities and their use in portfolio management. The focus is on valuation, return and volatility of fixed income securities and their portfolios, the role of fixed income securities in risk management and bond portfolio management strategies.
Asset liability management
Elective modules:
Final year project *
Banking regulation
Financial services regulation
Monetary economics
International finance *
Advanced financial accounting: theory and practice
Mergers and acquisitions
This course aims to provide a thorough understanding of the blend of strategic and financial concepts applied to M&A, but more importantly a recognition of the impact of corporate restructurings on organisations and people. At the end of the course, students will be able to form their own views about M&A and be prepared to make their own creatively strategic and analytically supportable recommendations regarding potential M&A transactions.
Bank strategy and management
Corporate strategy
Corporate social responsibility
Emerging markets *
Financial engineering *
Real estate finance and funding *
Technical analysis
Business forecasting *
General insurance *
Strategy for business
Machine learning for finance
Assessment methods
Our teaching style is based on encouraging you to think independently, to form your own opinions and critique relevant theory. We underpin your learning with the pertinent theories in your field embed with real life practices so you understand the way modern markets and businesses operate. Our courses offer numerous practical applications (or have a strong vocational element) without compromising their academic rigour. We use case studies, thought provoking scenarios and group work to give you a head start in the real world.
Percentage of the course assessed by coursework
Each module will be a mix of lectures, seminars and group work. Most modules are assessed by a combination of exams and coursework. The first year of your programme contributes 10% to your final degree classification, the second year 30% and the final year 60%.
The approximate percentage of the course assessment, based on 2019/20 entry is as follows:
Year 1
70% written, 0% practical, 30% coursework
Year 2
70% written, 4% practical, 26% coursework
Year 3
61% written, 0% practical, 39% coursework.
Overall workload
Most contact hours take the form of lectures. A number of tutorials, exercise classes and surgery hours are scheduled during the first year, the number decreasing as you progress and you become more able to direct your own learning.
Approximate study time based on 2019/20 entry is as follows:
Year 1
20% scheduled learning, 80% independent learning
Year 2
18% scheduled learning, 82% independent learning
Year 3
13% scheduled learning, 87% independent learning.
Term dates
Academic year
For a full breakdown of the current and forthcoming academic year view our term dates page.
Timetables
Course timetables are normally available from July and can be accessed from our timetabling pages. These pages also provide timetables for the current academic year, though this information should be viewed as indicative and details may vary from year to year.
Please note that all academic timetables are subject to change.
Application
How to apply
All applications should be made through UCAS, the Universities and Colleges Admissions Service. Applications are made via Apply, UCAS's online application system.
UCAS Institution code: C60 (Cass Business School and City, University of London)
UCAS Course code: N390 / N319 with professional placement
You can find more information at UCAS and in the UCAS Handbook.
Find out more information about applying to Cass.
Terms and conditions
Students applying to study at Cass Business School are subject to City, University of London's terms and conditions.
Entry requirements
A-Level: AAA
If you are studying General Studies, Critical Thinking or a native language A-Level, these subjects will not be included in any offer condition.
For A-Level applicants we also require a minimum of grade 5 (C) in GCSE English and grade 6 (B) in GCSE Maths.
BTEC/OCR Cambridge Technical Level 3 Extended Diploma: DDD
For BTEC/OCR Cambridge Technical applicants we also require a minimum of grade 5 (C) in GCSE English and grade 7 (A) in GCSE Maths.
For candidates taking a combination of A Level/BTEC/OCR Cambridge Technical qualifications we accept the following:
- BTEC/OCR Cambridge Technical Level 3 National Diploma (grades DD) with one A-Level (grade A)
- BTEC/OCR Cambridge Technical Level 3 Subsidiary Diploma/National Extended Certificate (grade D) with two A-levels (grades AA)
For combination BTEC/OCR/A-Level applicants we also require a minimum of grade 5 (C) in GCSE English and grade 7 (A) in GCSE Maths.
IB: 35 points overall (can include up to three bonus points) with 5 minimum in each subject. Please note that for applicants studying the new Maths curriculum we are happy to accept both Maths Analysis & Approaches and Maths Applications & Interpretation.
For 2020 IB applicants if you have not yet applied to Cass and have obtained either IB 30 (excluding bonus points) with minimum 5 in Maths/Maths Studies (standard or higher level) and minimum 5 in English (standard or higher level) or IB 30 (score from 6 subjects plus at least 1 bonus point), 4 in Maths (standard or higher level) and minimum 5 in English (standard or higher level) please contact cassug@city.ac.uk
Access to Higher Education: Pass the course with 45 level 3 credits including minimum 30 distinction credits and the remaining 15 credits at merit or above.
For Access applicants we also require a minimum of grade 5 (C) in GCSE English and grade 6 (B) in GCSE Maths.
Foundation course for UK/EU students
If you do not meet the qualification criteria for this course, you may still meet the criteria for our Finance Foundation course. The Foundation course is a one-year full-time programme that provides an entry route to any of the following finance-related courses: BSc Banking and International Finance, BSc Finance and BSc Investment and Financial Risk Management.
International students
We accept a wide range of international and other UK qualifications at Cass.
If you do not qualify for direct entry, there are several partners that offer preparatory international foundation courses for students seeking entry to undergraduate degrees. These include:
INTO City, University of London
Don’t meet the entry requirements? INTO City, University of London offers a range of academic and English language programmes to help prepare you for study at City, University of London. You’ll learn from experienced teachers in a dedicated international study centre.
These programmes are designed for international students who do not meet the required academic and English language requirements for direct entry. To prepare for this degree course, learn more about the International Foundation in Business and Economics with Accounting.
Kaplan International College (KIC) London
Additionally, City works in partnership with KIC London to provide a range of preparatory courses for international students. KIC London courses offer comprehensive support to students - including regular one-to-one tuition. Students who successfully complete the KIC London Foundation course at the required level are guaranteed progression to City, University of London degree courses.
English language requirements
Information for international applicants
For international applicants requiring a Tier 4 student visa we accept any of the below English language proficiency qualifications at the grades listed:
- Language Cert International ESOL: Language Cert B2 Communicator High Pass
- IELTS (Academic or UKVI): 6.5 overall with no less than 6.0 in any sub test
- TOEFL (Test centre or iBT Special Home Edition): 92 overall (24 Writing, 23 Reading, 22 Speaking, 21 Listening)
- Pearson Test of English (PTE) Academic: 59 overall with minimum of 59 in each sub test
- IGCSE: English as a First Language (Syllabus 0500 & 0522) or English as Second Language (Syllabus 0510 & 0511) at Grade B or above
- International Baccalaureate: Grade 5 at Higher or Standard level
- Trinity College (Integrated Skills): ISE III – pass in each area
- INTO City Pre-sessional English: 6.5 overall with no less than 6.0 in any sub test (NB. Must be the 6 or 8 week Cass-specific course)
- Cambridge English Advanced (also known as Certificate in Advanced English): Grade C (180-192) at CEFR Level C1
- Cambridge English Proficiency (also known as Certificate of Proficiency in English): Grade C (200-212) at CEFR Level C2
- Hong Kong Diploma of Secondary Education (HKDSE): English Language Examination grade 4 or above
An exception to the above criteria applies to Tier 4 applicants from the below majority English-speaking countries for whom we can accept a wider range of English qualifications:
- Antigua and Barbuda
- Australia
- The Bahamas
- Barbados
- Belize
- Canada
- Dominica
- Grenada
- Guyana
- Ireland
- Jamaica
- New Zealand
- St Kitts and Nevis
- St Lucia
- St Vincent and the Grenadines
- Trinidad and Tobago
- United Kingdom
- United States of America
Don’t meet the English language requirements? INTO City, University of London offers English language programmes to help prepare you for study at university. These intensive and flexible courses are designed to improve your English ability for entry to degree courses.
Information for home and EU applicants
In addition to the above English language proficiency qualifications accepted for International applicants, as a Home or EU applicant we can also accept any of the below English qualifications:
- GCSE: Grade C or 5
- O-Level: Grade C
- A-Level: Grade C
- Cambridge English First (also known as Certificate of First in English): Grade A (180-190) at CEFR Level C1
Study abroad
Cass Business School gives you the opportunity to spend a term or a year studying abroad at one of our partner institutions, which are located around the world in Australia, Europe, Asia and the Americas.
*Please note that the partner universities available is dependent on the study abroad programme you apply for and on your degree. The list of partner universities is also subject to change.
Replacement Term Abroad
Spend the first term of your 2nd year studying abroad in English at one of our partner universities. You would take modules to the value of 60 credits abroad and return to Cass in the 2nd term to complete your 2nd year.
*Please note that the partner universities available abroad for the replacement term abroad programme vary from degree to degree and are more limited than for the sandwich year abroad programme. If you would like to check the current available partners for your desired degree, please email cass-ug-outgoing@city.ac.uk.
Sandwich year
You can spend a year of your degree course studying at one of our partner institutions, between your second and final year of study. This would add a year to your degree so you would complete your degree in four years.
Please be aware that the options available to you from the full list of partner institutions will depend on the study abroad programme you select. For more detailed information on this, please contact the Student Exchange Team.
Student Exchange Team
Our dedicated Student Exchange Team are available to offer advice to students who wish to explore their study abroad options. They will also support students throughout the application process and during their study abroad year or term. To contact them, email: cass-ug-outgoing@city.ac.uk.
Placements
Work Placements at Cass
The practical experience of a professional placement, (typically 9-12 months duration) in addition to strong academic achievement, gives graduates a distinctive edge in the job market. Find out more about Work Placements and Summer Internships at Cass.
A key part of a Cass degree is the opportunity to gain professional work experience. BSc Investment and Financial Risk Management students are eligible to undertake a one-year paid work placement during the third year of a four-year sandwich degree programme.
The experience of working for a leading institution is not only exciting, but can be invaluable in terms of your future career. It will enable you to increase your confidence and maturity, expand your network of contacts, earn a competitive salary, and acquire the skills and competencies sought by graduate employers, giving you a competitive edge in the graduate market.
BSc Investment and Financial Risk Management students enjoy a wide range of professional placement opportunities in business areas such as corporate finance, operations, sales and trading, prime brokerage and hedge funds.
Students from the course are well suited to placement roles within the finance and treasury divisions of global enterprises, in corporate finance advisory teams, in investment banks and in consultancy firms focusing on issues related to corporate structure, strategy and management.
Placements students have gone onto secure roles at companies such as Enterprise Rent-a-Car, Lloyds Banking Group, Lockheed Martin, NBCUniversal, Hilton Worldwide and UBS.
Recent Placements
- AXA IM
- Goldman Sachs
- UBS
- Lloyds Banking Group
- Morgan Stanley
Work placements are not guaranteed, however, our reputation, achievements and successful graduates have helped us to develop close relationships with a diverse range of companies, who recognise that Cass students can add significant value to their workforce. Our dedicated Placement team are in regular contact with these and many more companies, and will support you to find placements and ensure you are work ready.
Although this additional year is not credited and will not count towards your degree classification, it is a recognised part of the degree programme and will be endorsed on your final degree certificate.
Support from the placements team
A dedicated placements team will support you through the placements process. The team advertise a number of work placement and summer internships annually, and invite businesses to Cass to meet with you and discuss the roles available. The team offers 1-2-1 advice on CV's and covering letters, as well as organising workshops to help you enhance your skills and competencies with applications and interviews. Also the team support students throughout your placement year including offering advice, guidance and monitoring your progress.
Fees
UK/EU students
* The fee for this course in 2020/21 is £9,250 for each year of study.
Non-EU international students
** In 2020/21 the fee is £19,000 for the first year of study. The institution reserves the right to increase your tuition fees annually to take account of the institution's increased costs of delivering educational services. The increase will normally be 2% but this is kept under review with reference to the RPI. If the institution intends to increase your tuition fees you will be advised of this alongside the published entry fee.
Funding
- There are a variety of funding options for all levels of study, including loans, grants and scholarships. Find out more about funding and financing your time at City here.
- Each year, Cass Business School, City, University of London and generous donors create opportunities for students to fully fund or part fund their studies. Find out more about scholarships and loans
- Fee waivers may be available for this course
- Means tested support may be available for 2019/20 entry. Find out more about undergraduate funding.
Career pathways
The majority of graduates from the Investment and Financial Risk Management course enter challenging and rewarding careers in the investment and risk management field as well as in the fund management industry.
Graduates keen to transfer their specialist quantitative modelling techniques take up front-office roles such as trading, bonds and stocks, while others are employed in market risk management and fund management or with regulators such as the Bank of England and the Financial Conduct Authority.
Find out the types of positions our graduates have gone on to here.
Recent employers
Course information and statistics from 2016-17 Destinations of Leavers from HE
Accreditation
The BSc Investment and Financial Risk Management provides exemption from some of the professional examinations of the following professional bodies:
See accreditation details
ACCA (Association of Chartered Certified Accountants)
Knowledge
- F1 Accountant in Business (AB)
- F2 Management Accounting (MA)
- F3 Financial Accounting (FA)
Skills
- F4 Corporate and Business Law (CL)
- F7 Financial Reporting (FR)
CII (Chartered Insurance Institute)
- CII Insurance students: 530 Business and Economics (worth 30 credits at Advanced Diploma level), 25 non-unit specific credits at Diploma level; P67 Fundamentals in risk management (25 credits at Diploma level) based on FR2105 Corporate Risk Management.
- CII Financial Planning students: 30 non unit specific credits at Advanced Diploma level, 25 non unit-specific credits at Diploma level.
CIMA (Chartered Institute of Management Accountants)
Certificate Level
- C02 Fundamentals of Financial Accounting
- C03 Fundamentals of Business Mathematics
- C04 Fundamentals of Business Economics
- C05 Fundamentals of Ethics, Corporate Governance and Business Law
CIPFA (Chartered Institute of Public Finance and Accountancy)
Professional Certificate
- Financial Accounting
- Financial Reporting
Professional Diploma
- Financial Management
ICAEW (Institute of Chartered Accountants in England and Wales)
- Accounting
- Business and Finance
- Financial Management
ICAS (The Institute of Chartered Accountants of Scotland)
Test of Competence
- Financial Accounting
- Finance
The London Institute of Banking & Finance
- Direct entry into Stage 2 (second year; FHEQ level 5) of the BSc Banking Practice & Management degree.
