Risk Management plays a central role in the modern financial industry, by modelling the potential costs that could arise from changes in the markets or the broader economy. Using advanced statistical techniques, estimates can be made of the value at risk if extreme events were to occur. This allows financial institutions to take pre-emptive action such as hedging their exposure using derivatives contracts. Students on the Financial Risk Management degree will learn theories exploring market, credit and enterprise risk, whilst gaining expertise in the statistical software that is used to measure these risks. There is an integrated placement year, which allows students to gain valuable practical experience working in a professional environment.
Financial Risk Management (with a Year in Industry) highlights
Industry Links
Students are eligible for free membership of the Association of Insurance and Risk Managers in Industry and Commerce (AIRMIC).
Career Development
There is an integrated placement year which gives students the opportunity to work for a major financial institution. This gives real world experience, and makes students more competitive when seeking graduate employment.
World Class Facilities
You will have access to industry standard Bloomberg terminals in the Trading Room, giving students the skills, experience and knowledge necessary to prepare them for a career in the financial services sector.
Student Experience
Students can take part in the QUB Student Managed Fund which gives participants the opportunity to invest real money and manage the risk of their portfolios.
The Finance & Actuary society runs social and educational events for members, such as the end of year formal.
Students can sign up for the London or Dublin Study Trips to visit leading financial companies in these cities.
Further Study Opportunities
Students can choose from a wide range of Master’s programmes as well as a comprehensive list of research topics; see the School website for further information.
Queen’s Business School is committed to the continuous improvement and enhancement of all of its degree programmes. New modules may be developed and included to replace or enhance those which are mentioned. https://www.qub.ac.uk/schools/queens-business-school/study/
Six modules are taken in each of Years 1, 2 and 4. In Year 3, students undertake a salaried placement in a financial environment for a minimum of nine months.
Year 1
Instruments, Markets and Institutions
Mathematics for Finance
Actuarial Mathematics 1
Statistical Methods
Financial Reporting and Analysis
Foundations of Economics 1
Placement Preparation Module
Year 2
Enterprise Risk Management
Excel Analysis
Investment Analysis
Actuarial Mathematics 2
Monetary Theory
Introduction to Financial Econometrics
Placement Learning
Year 3
Placement Year
Year 4
Credit Risk
Python for Finance
Equity Research
Corporate Finance
Financial Engineering
Actuarial Econometrics and Data Science
Head of Finance Department, Queen’s Business School
Queen’s Business School Gareth is a Professor in Finance who has published in world leading financial journals such as the Review of Financial Studies. He teaches the Mathematics for Finance module on the BSc Financial Risk Management degree, and co-ordinates staff on this programme.
Contact Teaching Hours
Medium Group Teaching
3 (hours maximum) 1-3 hours of practical classes, workshops or seminars each week
Large Group Teaching
9 (hours maximum) 6-9 hours of lectures
Small Group Teaching/Personal Tutorial
3 (hours maximum) 1-3 hours of tutorials
Personal Study
24 (hours maximum) 22–24 hours studying and revising in your own time each week, including some guided study using handouts, online activities, etc.
Learning and Teaching
Queen’s Business School is one of the largest Schools in the University with more than 1700 full-time undergraduate students and 300 plus postgraduate students. The School has been delivering high quality programmes for more than 40 years and was one of the first schools in the UK to introduce undergraduate management education. Since then, QMS has been developing and enhancing its teaching portfolio for both local and international students and boasts students from more than 20 different nationalities.
In recent years, the School has benefited from significant investment resulting in many new academic appointments and state-of-the-art facilities including computer teaching labs with specialised software and a Trading Room in Riddel Hall. In addition, the McClay library houses an excellent selection of Management and related texts and there are extensive IT facilities throughout the campus.
At Queen’s, we aim to deliver a high quality learning environment that embeds intellectual curiosity, innovation and best practice in learning, teaching and student support to enable students to achieve their full academic potential. In line with this, one of QMS’ primary objectives is to deliver innovative learning and teaching programmes that provide students with the competences and skills to make a positive contribution to business, economic and civic life.
On the BSc Financial Risk Management programme we achieve these goals by providing a range of learning environments which enable our students to engage with subject experts both academic staff and industry guest speakers, develop skills and attributes and perspectives that will equip them for life and work in a global society and make use of innovative technologies and a world-class library that enhances their development as independent, lifelong learners. Examples of the opportunities provided for learning on this degree programme are:
Adviser of Studies
To assist with the choice of modules at the beginning of each academic year
E-Learning technologies
Information associated with lectures and assignments is often communicated via a Virtual Learning Environment (VLE) called Canvas. A range of e-learning experiences are also embedded in the degree programme through the use of, for example, interactive support materials, podcasts and web-based learning activities. There are also opportunities to develop technical skills in the use of industry software.
Induction
Formalised induction for all undergraduate students. For Stage 1 students, this includes several half-day sessions the week before the programme begins to allow students to familiarise themselves with the campus and the degree programme. During Stage 1 there are a number of follow-up sessions throughout the year. Topics such as academic writing, referencing, plagiarism, communication skills, examination preparation and managing time effectively are all covered in these practical sessions.
Lectures
These introduce foundation information about new topics as a starting point for further self-directed private study/reading. As the module progresses this information becomes more complex. Lectures, which are normally delivered in large groups to all year-group peers, also provide opportunities to ask questions and seek clarification on key issues as well as gain feedback and advice on assessments. Additional lectures are also delivered by employer representatives. In addition to the academic content of the lectures and workshops, this enables employers to impart their valuable experience to QMS Financial Risk Management students, introduces important local employers to our students and allows our students to meet and engage with potential future employers.
Masterclasses
Throughout the degree students are offered exposure to experts from the financial markets who share their industry knowledge and offer advice on what it takes to succeed in the world of finance and risk management.
Peer Mentoring Scheme
Whereby students in second and third year of their degree programme volunteer to mentor Stage 1 students. Developing the programme themselves, with support from academic staff in QMS, the mentors organise informal meetings, regular contact and a series of events ranging from ice-breaker type events to employer-led sessions with the Stage 1 students.
Personal Development Planning
To encourage students to engage in independent learning.
Practicals
Financial Risk Management is a very theoretical yet vocational subject and as such we facilitate opportunities for students to engage in the application of theory. Students will have opportunities to develop technical skills and apply theoretical principles to real-life or practical contexts through the modules you study and through industry presentations and workshops that we host.
Self-directed study
This is an essential part of life as a Queen’s student when important private reading, engagement with e-learning resources, reflection on feedback to date and assignment research and preparation work is carried out.
Seminars/tutorials
A significant amount of teaching is carried out in small groups (typically 15-20 students). These sessions are designed to explore, in more depth, the information that has been presented in the lectures. This provides students with the opportunity to engage closely with academic staff who have specialist knowledge of the topic, to ask questions of them and to assess their own progress and understanding with the support of their peers. During these classes, students will be expected to present their work to academic staff and their peers.
Student Support Systems
QMS has an active and co-ordinated student support system to assist students in making the transition from school to university.
Supervised projects
As part of the continual assessment on a range of modules, students will be expected to carry out projects. They will receive support from the module coordinators who will guide them in terms of how to carry out projects and who will provide feedback during the write up stage.
Trading Room
Several classes on the degree programme are taught in the dedicated financial trading room which recreates the excitement of an investment bank trading floor, and provides students with hands-on experience in a dynamic environment. Real-time data feeds from major exchanges are displayed on terminals and wall screens, and industry-standard software packages are used to provide the best possible introduction to investment banking IT.
Work placements
The BSc Financial Risk Management programme has a compulsory placement year. This begins after all Stage 2 courses have been successfully completed. The Careers and Work Placement Office within the School facilitates students in sourcing and securing appropriate placements and provides appropriate support whilst the student is with the host organisation. This is a significant learning and employability enhancement opportunity and will ensure that the theory being understood in the lecture theatre is complemented by the development of practical, transferrable skills.
Assessment
Details of assessments associated with this course are outlined below:
The way in which students are assessed will vary according to the learning objectives of each module. Details of how each module is assessed are shown in the Student Handbook which is provided to all students during their first year induction. Financial Risk Management modules are typically assessed by a combination of continuous assessment and a final written unseen examination. Continuous assessment consists of tutorial submissions, short class tests, individual project work, small group projects and presentations – this involves three/four students per group working on a specific task, for example, a solution to a particular finance problem.
Feedback
As students progress through their course at Queen's they will receive general and specific feedback
about their work from a variety of sources including lecturers, module co-ordinators, placement supervisors,
personal tutors, advisers of study and peers. University students are expected to engage with reflective
practice and to use this approach to improve the quality of their work. Feedback may be provided in a
variety of forms including:
Feedback provided via formal written comments and marks relating to work that students, as individuals or as part of a group, have submitted.
Face to face comment. This may include occasions when students make use of the lecturers’ advertised “office hours” to help address a specific query.
Placement employer comments or references.
Online or emailed comment
General comments or question and answer opportunities at the end of a lecture, seminar or tutorial.
Pre-submission advice regarding the standards students should aim for and common pitfalls to avoid. In some instances, this may be provided in the form of model answers or exemplars which students can review in their own time.
Feedback and outcomes from practical classes.
Comment and guidance provided by staff from specialist support services such as, Careers, Employability and Skills or the Learning Development Service.
Once students have reviewed your feedback, they will be encouraged to identify and implement further improvements to the quality of their work.
The information below is intended as an example only, featuring module details for the current year of study (2024/25). Modules are reviewed on an annual basis and may be subject to future changes – revised details will be published through Programme Specifications ahead of each academic year.
(1) Intro to cashflow modules and using them to describe financial instruments.
(2) Time value of money, interest rates and force of interest: discounting single cashflows using simple and compound interest rates (compounded annually and more frequently).
(3) Discounting and accumulating a series of cashflows using actuarial annuity functions such as annuity certain (payable in advance, in arrears, continuously), plus increasing and deferred annuities.
(4) Equations of value and calculating loan schedules.
(5) Project appraisal using Net Present Value, Internal/Money-weighted/Linked-Internal rate of return etc.
(6) Introduction to asset classes and simple derivative functions.
Learning Outcomes
At the conclusion of this module students will be equipped to:
1.Understand simple actuarial functions used and mathematical techniques employed, by an actuary.
2.Be able to convert annual interest rates into continuous rates and rates of other compound frequencies.
3.Determine the present value of cashflows and/or the yield for various financial instruments.
This module examines the theory behind, and the operation of, financial institutions and markets. The analysis is underpinned by the theory of asymmetric information. The course considers the main financial markets (equity, debt and money) and the main financial institutions (central bank, retail banks, insurance companies and pension funds). Also covered is the importance of appropriate financial regulation and the manner in which a financial crisis can occur.
Learning Outcomes
At the conclusion of the course participants will be equipped to:
1. Understand the structure and importance of financial markets
2. Understand the functions of central banks and their role in monetary policy
3. Understand the role of interest rates, their determination, and the concept of the time value of money
4. Understand how moral hazard and adverse selection affect the process of financial intermediation
5. Exhibit financial literacy and show appreciation of financial current affairs
6. Use the FD Trading Room and Excel to analyse and present financial data
7. Appreciate the importance of regulation, professional standards and ethical behaviour
Skills
The overall aim is to promote a good appreciation of the economic functions and workings of financial institutions and markets. The concept of asymmetric information is important to gain an understanding of the nature and evolution of financial markets and institutions. This concept is utilised throughout the module.
Key financial statements and their users; income statement, statement of financial position and cash flow statement; use and limitations of financial ratio analysis; the relationship between accounting information and share price; introduction to creative accounting; introduction to two financial management issues, namely financing and working capital management; and investment appraisal.
Learning Outcomes
Understand the key elements in the preparation of a company's financial accounts; be able to interpret and analyse financial information of a company and the limitation of the techniques utilised; have worked in small groups and made tutorial presentations
Skills
Have a general understanding of financial reporting and analysis; develop a critical approach and evaluation to the interpretation of financial information relevant to a company.
Upon successful completion of this module, students will be able to solve financial and economic problems relating to asset pricing, regressions, calculus and matrices.
Skills
Students will develop the following skills:
• Evaluate investments;
• Apply calculus and optimisation;
• Perform matrix calculations;
• Use the Bloomberg database to access financial data
The course covers basic statistics for economics, finance and accounting students and assumes no prior knowledge. The two main areas of statistics covered are descriptive statistics and inferential statistics. The emphasis is on the application of the statistical techniques to problems relevant to these subjects.
Learning Outcomes
To enable economics, finance and accounting students gain a basic knowledge and understanding of statistical methods. To provide a background for higher level quantitative modules.
Skills
The student should be able to apply statistical methods to economic and business data and critically assess simple techniques.
1. Preparation for Placement: Students will be able to understand and respond to the diversity, availability, accessibility and expectations of placement opportunities.
2. Placement Performance: Students will be able to record, review and realise the personal, career, and skill development opportunities of placement.
3 Placement Review and Application: Students will be able to identify the tangible value of placement learning and apply it to a graduate interview and presentation.
Foundations of Economics 1 is the title of our new Level 1 semester 1 CORE (Curriculum Open-access Resource for Economics) module for non-specialists. CORE is the result of a huge global collaboration to change the way introductory economics is taught; to ensure it is student-centred and motivated by real-world problems and real-world data. Many students studying for degrees in other disciplines are drawn to economics so that they can develop their analytical skills and also engage with policy debates on issues such as environmental sustainability, inequality, the future of work, financial instability, and innovation. But, when they study economics, they find that their introductory course is arid and theoretical, and designed primarily for students who want to study the subject as their major. The result is that students from other disciplines often find themselves studying a quantitative and analytical economics module that is only minimally social in content and downplays the insights of other disciplines, or a social or business oriented module that gives them little training in modelling, or in quantitative scientific methods. In contrast, this module draws on the work of the global CORE team to offer students who are not specialist economists an in-depth introduction to economics and the global economy that is both analytical and real-world. The module focuses throughout on evidence on the economy, from around the world, and from history. It is motivated by questions — how can we explain what we see?
This module is targeted at UG students who are not taking economics as a major subject but who want to develop their analytical skills and learn how to use economics to understand and articulate reasoned views on some of the most pressing policy problems facing our societies.
The course content will be drawn primarily from the following units from the textbook Economy, Society, and Public Policy:
1 Capitalism: affluence, inequality, and the environment
2 Social interactions and economic outcomes
3 Public policy for fairness and efficiency
4 Work, wellbeing and scarcity
5 Institutions, power, and inequality
6 The firm: employees, managers, and owners
7 Firms, customers, and markets
8 The labour market: unemployment, wages, and profits
9 The credit market: borrowers, lenders, and the rate of interest
10 Market successes and failures
11 Government, citizens, and public policy
12 Banks, money, and central bank policy
Learning Outcomes
Successful completion of the module will enable students to:
Understand the reach of economics and its place in the wider social sciences; understand how to interpret relevant evidence and apply relevant economic theory to help answer a variety of economic and social questions; understand how to critically evaluate the application of models in economics to real-world questions and policy issues; understand key aspects of the historical development of the global economy and its contemporary nature.
Skills
Subject-specific skills
Successful completion of the module will enable students to:
Develop/enhance subject-specific skills including the ability to construct arguments and exercise problem solving skills in the context of real-world economic and social questions; the ability to construct, interpret and critically evaluate economic models of behaviour; the ability to apply economic models and concepts to real world questions; the ability to understand, evaluate and commentate on the economy and on economic and social policy.
Cognitive and transferable skills
Successful completion of the module will enable students to:
Develop/enhance generic cognitive and transferable skills, including: problem solving, logical reasoning, independent enquiry, critical evaluation and interpretation, self-assessment and reflection, synthesising information from a variety of sources, written and verbal communication, organisation and time management.
This module looks at how to manage advanced spreadsheets in Excel, and use the Visual
Basic for Applications (VBA) programming language.
Learning Outcomes
Upon successful completion of this module, students will be able to:
• Create and maintain complex spreadsheets
• Import data from a range of sources
• Prepare professional quality graphs and tables
• Use advanced functions
• Write and debug macros in VBA
• Develop financial models using Excel and VBA
Skills
This course provides opportunities for the students to acquire or enhance the following skills:
Excel and VBA
Data management
Data analysis
Year 2 Preparation for Placement will contribute to 35% of overall module mark (Two components at the end of semester one and semester two, level 2) valued at 15% and 20% respectively:
Year 3 Individual presentation will contribute to 25% of overall module mark:
Year 3 Placement Review and Portfolio will contribute to 40% of overall module mark
Learning Outcomes
1. Preparation for Placement: Students will be able to understand and respond to the diversity, availability, accessibility and expectations of employability opportunities.
2. Placement Performance: Students will be able to record, review and realise the personal, career, and skill development opportunities of placement.
3 Placement Review and Application: Students will be able to identify the tangible value of placement learning and apply it to a graduate interview and presentation.
This module provides an introduction into practical areas of financial risk modelling, via model analysis (using Microsoft Excel and Monte Carlo simulation) and reporting
Learning Outcomes
Students will develop their understanding in the following areas:
Model Analysis and reporting
• Data analysis
• Financial and actuarial model development using Monte Carlo simulation
• Ability to analyse, apply and interpret model results
• Communication of the approach, results and conclusions
• Run-Off Triangles
Skills
The aim of this module is to give students an introduction to financial risk modelling including an introduction to the Institute and Faculty CA2 exam that is required to become a fully qualified actuary in the UK and Ireland.
(1) Intro to simple assurance and annuity contracts and derive relationships between them.
(2) Derive life table functions (lx & dx).
(3) Calculate net premiums and reserves for assurance and annuity contracts.
(4) Calculate gross premiums and reserves.
(5) Extending calculations to reflect joint life contracts.
(6) Modelling multiple decrements and looking at selection and mortality rates.
Learning Outcomes
At the conclusion of this module students will be able to:
(1) Understand further actuarial functions allowing for decrements used and the mathematical techniques employed by an actuary
(2) Demonstrate the relationship between simple annuity and assurance functions
(3) Solve equations of value to determine premium levels or reserves.
The functions of money and the evolution of money. The structure of the banking system and money markets. The evolution and functions of central banks. Deposit creation and the money supply. Determinants of the money supply. Tools of monetary policy. The demand for money. Money in the macro-economy. Transmission mechanisms of monetary policy. Money and inflation.
Learning Outcomes
Upon successful conclusion of this course students will:
1.understand why money and banks exist.
2.appreciate why the banking system is regulated.
3.comprehend the basic functions of central banks.
Skills
Critical assessment and evaluation and presentation skills.
Ability to write critically and succinctly.
1. Provide students with an understanding of introductory financial econometric theory.
2. Build on a student’s understanding of statistical analysis.
3. Give students both theoretical and practical experience of statistical and econometric techniques.
4. Provide an introduction to classical regression and an introduction to time series techniques.
5. Develop student’s ability to perform, digest and critically interpret financial econometric analysis.
Learning Outcomes
Upon successful completion of this module, students will be able to:
1. Understand the statistical methods used in finance research.
2. Identify how econometric techniques can be applied to practical finance problems.
3. Critically assess econometric output and understand the implications of the results.
4. Discuss applied econometric research topics in finance.
5. Understand the modifications of classical econometrics applicable to financial modelling.
Skills
This course provides opportunities for the students to acquire or enhance the following skills:
The ability to read and evaluate finance and risk-related academic literature
The ability to use mathematical and statistical techniques to analyse and evaluate data
The ability to communicate quantitative and qualitative information
Problem solving
Logical reasoning
Critical evaluation and interpretation
Introduction and Investment Environment
Investment Project Evaluation
Security Analysis: Bond and Equity
Risk Aversion and Capital Allocation
Optimal Risky Portfolios
Capital Asset Pricing Model
Empirical Analysis on Security Returns
Portfolio Performance Evaluation
Market Efficiency and Behavioural Finance
Professional ethics in Finance
Learning Outcomes
Upon successful completion of this module students will:
- Understand the techniques for the evaluation of investment projects;
- Have the knowledge of the risk return relationship, portfolio theory, and professional ethics;
- Understand empirical analysis on security returns;
- Apply the tools they have acquired to set investment criteria, create and manage portfolios consisting of different assets, the most efficient manner for given aims and environment restrictions.
Skills
Quantitative analysis, problem solving, logical reasoning, ability to evaluate/interpret financial data.
1. Python programming fundamentals
2. Integrated development environments
3. Professional development practices
4. Financial data import/export
5. Data cleansing and wrangling
6. Model implementation and testing
Learning Outcomes
Upon successful completion of this module, students will be able to:
1. Demonstrate fundamental coding principles such as selection and iteration
2. Utilise appropriate data types and structures in code implementation
3. Source data and produce results in various formats
4. Use coding to solve problems encountered in finance
5. Adhere to good development practice
6. Independently resolve technical issues and extend knowledge using resources from the online developer community.
Skills
1. Problem solving – able to design and develop algorithms
2. Logical reasoning – developing code to implement solutions
3. Coding – ability to write Python code and use an integrated development environment
4. Abstraction – developing generic re-usable solutions
5. Critical thinking – understand how to create robust test plans
Forwards and Futures, Option Markets and Option Types, Option Strategies, Option Pricing: The Binomial and Black-Scholes-Merton Models, Option Sensitivities, Volatility, Value at Risk (VaR), Swaps, Credit Risk.
Learning Outcomes
At the end of this module students will be able to:
1. Understand the role, pricing and hedging functions of futures contracts
2. Understand the role and pricing of option contracts
3. Demonstrate a knowledge and understanding of stochastic models of the behaviour of security prices
4. Understand risk management and risk assessment in the context of derivative instruments
5. Understand the structure and pricing of swap contracts
6. Use the DerivaGem software
Skills
This module will help you to develop the following skills:
1. Have an understanding of the role of derivative markets and derivative instruments in today's financial market place
2. To be able to price derivatives, both theoretically and practically
3. To be comfortable with the use of software which prices and hedges derivatives
4. To be able to assess the risk sensitivities of options
5. To be able to construct hedging strategies using options
6. Have an understanding of both Value at Risk (VaR) and Credit Risk.
The aim of this course is to teach students to apply financial econometrics techniques sensibly in the context of real-world empirical problems, with particular focus on actuarial fields. Through software application (using R) students will be taught statistical techniques which underpin quantitative analysis in the financial world.
Learning Outcomes
At the conclusion of the course participants will be equipped to:
1. Understand the iterative process of real world data analysis.
2. Understand how to use statistical techniques to calibrate answers to many problems posed in actuarial science.
3. Understand how to source, prepare and encode financial data.
4. Obtain analytical skills to identify patterns in data.
5. Understand how to robustly infer real world effects from statistical analysis.
6. Understand how to encode analytical questions using statistical software (R).
Skills
1. To interpret the results of robust statistical analysis of financial data sensibly.
2. Advanced software skills in visualisation and statistical analysis of financial data.
This module examines the theory and the practical operation of bond markets. The course can be broadly divided into six parts. Firstly, we closely examine and analyse the investment environment of bonds and money-market instruments. This includes bond pricing and yield analysis. In the second part we focus on the term structure of interest rates: the empirical properties and theorems and the derivation of the zero-coupon yield curve. Thirdly, we analyse the hedging of interest-rate risk with duration. In the fourth part, we focus on the investment strategies that include passive and active fixed-income portfolio management and portfolio performance measurement. In the fifth part we investigate methods to model the term structure of interest rates and in the last part we are concerned with securitisation, i.e. mortgage-backed securities and asset-backed securities.
Learning Outcomes
At the conclusion of the course participants will be equipped to:
1. Identify main sectors of the bond market
2. Appreciate the role of the time value of money in bond pricing
3. Understand variants of the standard bond yield measure
4. Understand and utilise the concepts of duration
5. Realise the importance of the yield curve and discuss the various theories of the term structure
6. Understand how to construct a successful fixed-income portfolio, or how to use fixed-income securities in equity-based portfolios
7. Understand the macroeconomic impacts on investors (and vice versa)
Skills
Problem solving, critical assessment and evaluation, group work and presentation skills.
Firm valuation, valuation techniques, accounting & valuation, M&A, capital structure, corporate growth, value drivers, practice and pitfalls.
Learning Outcomes
• Assess the value of a company.
• Differentiate between different valuations techniques.
• Make independent buy/hold/sell recommendations.
• Critically assess practices carried out by equity analysts.
• Analyse relevant debates covered by the financial press and scholarly articles.
Skills
The overall aim of the module is to prepare students for a career as an equity analyst. Students will be equipped with an understanding of different valuation techniques. Through the understanding of how equity investments are made students will be prepared to have a broader view of investment decisions and capital markets. Students will have the skill to make independent buy/sell/hold recommendation and interpret their analysis in light of investment criteria set by different investors. The module will be a good preparation for students that are looking to complete their CFA exams.
Law and finance, capital structure, dividend policy, IPOs, corporate ownership.
Learning Outcomes
To provide students with an understanding of corporate finance theory and financial policy.
Skills
1. Understand the nature of the firm from a contractual perspective.
2. Appreciate the role of agency costs and how these costs can be mitigated.
3. Calculate a firm's cost of capital and the value of a levered firm.
4. Determine a firm's optimal dividend policy.
5. Solve problems in teams.
6. Make intellectually coherent presentations.
7. Be able to construct and write research papers.
A maximum of one BTEC/OCR Single Award or AQA Extended Certificate will be accepted as part of an applicant's portfolio of qualifications with a Distinction* being equated to grade A at A-Level.
Irish Leaving Certificate
H2H2H3H3H3H3 including Higher Level grade H2 in Mathematics
Access Course
Successful completion of Access Course with a minimum of 80% in each Level 3 module. Must be relevant Access Course with substantial Mathematics modules (eg: Mathematics and Computing).
International Baccalaureate Diploma
36 points overall including 6,6,6 at Higher Level including 6 in Mathematics.
Graduate
A minimum of a 2:1 Honours Degree, provided any subject requirements are also met.
Note
All applicants must have GCSE English Language grade C/4 or an equivalent qualification acceptable to the University.
How we choose our students
Applications are dealt with centrally by the Admissions and Access Service rather than by Queen's Business School. Once your application has been processed by UCAS and forwarded to Queen's, an acknowledgement is normally sent within two weeks of its receipt by the University.
Selection is on the basis of the information provided on your UCAS form. Decisions are made on an ongoing basis and will be notified to you via UCAS.
Applicants for the BSc Honours in Financial Risk Management must be able to satisfy the University's General Entrance Requirement and, in addition, must meet the Mathematics subject requirement. Offers are made in terms of grades rather than UCAS Tariff points.
Demand for places differs from course to course, and for Financial Risk Management past performance at GCSE is taken into account when deciding whether or not to make conditional offers. Offers are initially made to those who achieved at least four GCSE passes at grade A/7 or above plus two GCSE passes at grade B/6 or above, to include Mathematics. This threshold may be lowered as the cycle progresses depending upon the number and quality of applications. The final threshold is not usually determined until late in the admissions cycle, so there may be a delay in processing applicants who do not meet the initial threshold.
Offers are normally made on the basis of three A-levels. The offer for repeat candidates may be one grade higher than for first time applicants. Grades may be held from the previous year.
Applicants offering two A-levels and one BTEC Subsidiary Diploma/National Extended Certificate (or equivalent qualification), or one A-level and a BTEC Diploma/National Diploma (or equivalent qualification) will also be considered. Offers will be made in terms of the overall BTEC grade(s) awarded. Please note that a maximum of one BTEC Subsidiary Diploma/National Extended Certificate (or equivalent) will be counted as part of an applicant’s portfolio of qualifications. The normal GCSE profile will be expected.
For applicants offering the Irish Leaving Certificate, please note that performance at Junior Certificate is taken into account. The initial Junior Certificate profile to qualify for an offer is four A/Distinction grades and two B/Higher Merit grades. The Selector also checks that any specific entry requirements in terms of Leaving Certificate subjects can be satisfied. This threshold may be lowered as the cycle progresses depending upon the number and quality of applications. The final threshold is not usually determined until late in the admissions cycle, so there may be a delay in processing applicants who do not meet the initial threshold.
Applicants offering other qualifications will also be considered. The same GCSE (or equivalent) profile is usually expected of those candidates offering other qualifications.
The information provided in the personal statement section and the academic reference together with predicted grades are noted, but these are not the final deciding factors as to whether or not a conditional offer can be made. However, they may be reconsidered in a tie break situation in August.
A-level General Studies and A-level Critical Thinking will not normally be considered as part of a three A-level offer and, although they may be excluded where an applicant is taking four A-level subjects, the grade achieved could be taken into account if necessary in August/September.
Candidates are not normally asked to attend for interview.
If you are made an offer then you may be invited to an Open Day organised by Queen's Business School, which is usually held in the second semester. This will allow you the opportunity to visit the University, to find out more about the degree programme of your choice, the facilities on offer together with a flavour of the academic and social life at Queen's.
If you cannot find the information you need here, please contact the University Admissions and Access Service (admissions@qub.ac.uk), giving full details of your qualifications and educational background.
International Students
Our country/region pages include information on entry requirements, tuition fees, scholarships, student profiles, upcoming events and contacts for your country/region. Use the dropdown list below for specific information for your country/region.
English Language Requirements
An IELTS score of 6.5 with a minimum of 5.5 in each test component or an equivalent acceptable qualification, details of which are available at: http://go.qub.ac.uk/EnglishLanguageReqs
If you need to improve your English language skills before you enter this degree programme, INTO Queen's University Belfast offers a range of English language courses. These intensive and flexible courses are designed to improve your English ability for admission to this degree.
Academic English: an intensive English language and study skills course for successful university study at degree level
Pre-sessional English: a short intensive academic English course for students starting a degree programme at Queen's University Belfast and who need to improve their English.
International Students - Foundation and International Year One Programmes
INTO Queen's offers a range of academic and English language programmes to help prepare international students for undergraduate study at Queen's University. You will learn from experienced teachers in a dedicated international study centre on campus, and will have full access to the University's world-class facilities.
These programmes are designed for international students who do not meet the required academic and English language requirements for direct entry.
Risk Management roles are available in a wide range of companies, particularly within the financial sector. You will be involved in evaluating the risks to an organisation from movements in stock, bond and currency markets, the impact of borrowers defaulting on their debts, and a range of other enterprise risks such as those arising from cybersecurity and supply chains. You will need to quantify the risk aversion of your organisation, and design mitigations to ensure that your company can continue to thrive even under worst case scenarios.
Employment after the Course
Roles are available in areas such as:
- investment banks
- fund managers
- retail banks
- insurance firms
Prizes and Awards
A number of employers and professional bodies sponsor prizes on an annual basis for best students in their level, module or category.
Degree Plus/Future Ready Award for extra-curricular skills
In addition to your degree programme, at Queen's you can have the opportunity to gain wider life, academic and employability skills. For example, placements, voluntary work, clubs, societies, sports and lots more. So not only do you graduate with a degree recognised from a world leading university, you'll have practical national and international experience plus a wider exposure to life overall. We call this Degree Plus/Future Ready Award. It's what makes studying at Queen's University Belfast special.
1EU citizens in the EU Settlement Scheme, with settled status, will be charged the NI or GB tuition fee based on where they are ordinarily resident. Students who are ROI nationals resident in GB will be charged the GB fee.
2 EU students who are ROI nationals resident in ROI are eligible for NI tuition fees.
3 EU Other students (excludes Republic of Ireland nationals living in GB, NI or ROI) are charged tuition fees in line with international fees.
The tuition fees quoted above for NI and ROI are the 2024/25 fees and will be updated when the new fees are known. In addition, all tuition fees will be subject to an annual inflationary increase in each year of the course. Fees quoted relate to a single year of study unless explicitly stated otherwise.
Tuition fee rates are calculated based on a student’s tuition fee status and generally increase annually by inflation. How tuition fees are determined is set out in the Student Finance Framework.
Additional course costs
Students undertake a paid placement in year 3, and will receive a salary from their employer. Students are responsible for funding travel, accommodation and subsistence costs. These costs vary depending on the location and duration of the placement.
A limited amount of funding may be available to contribute towards these additional costs, if the placement takes place through a government student mobility scheme.
Students who undertake optional study tours are expected to make a contribution, of approximately £150.
Year in Industry
All Students
Depending on the programme of study, there may be extra costs which are not covered by tuition fees, which students will need to consider when planning their studies.
Students can borrow books and access online learning resources from any Queen's library. If students wish to purchase recommended texts, rather than borrow them from the University Library, prices per text can range from £30 to £100. Students should also budget between £30 to £75 per year for photocopying, memory sticks and printing charges.
Students undertaking a period of work placement or study abroad, as either a compulsory or optional part of their programme, should be aware that they will have to fund additional travel and living costs.
If a programme includes a major project or dissertation, there may be costs associated with transport, accommodation and/or materials. The amount will depend on the project chosen. There may also be additional costs for printing and binding.
Students may wish to consider purchasing an electronic device; costs will vary depending on the specification of the model chosen.
There are also additional charges for graduation ceremonies, examination resits and library fines.
How do I fund my study?
There are different tuition fee and student financial support arrangements for students from Northern Ireland, those from England, Scotland and Wales (Great Britain), and those from the rest of the European Union.
Application for admission to full-time undergraduate and sandwich courses at the University should normally be made through the Universities and Colleges Admissions Service (UCAS). Full information can be obtained from the UCAS website at: www.ucas.com/students.
When to Apply
UCAS will start processing applications for entry in autumn 2025 from early September 2024.
The advisory closing date for the receipt of applications for entry in 2025 is still to be confirmed by UCAS but is normally in late January (18:00). This is the 'equal consideration' deadline for this course.
Applications from UK and EU (Republic of Ireland) students after this date are, in practice, considered by Queen’s for entry to this course throughout the remainder of the application cycle (30 June 2025) subject to the availability of places. If you apply for 2025 entry after this deadline, you will automatically be entered into Clearing.
Applications from International and EU (Other) students are normally considered by Queen's for entry to this course until 30 June 2025. If you apply for 2025 entry after this deadline, you will automatically be entered into Clearing.
Applicants are encouraged to apply as early as is consistent with having made a careful and considered choice of institutions and courses.
The Institution code name for Queen's is QBELF and the institution code is Q75.
Additional Information for International (non-EU) Students
Applying through UCAS
Most students make their applications through UCAS (Universities and Colleges Admissions Service) for full-time undergraduate degree programmes at Queen's. The UCAS application deadline for international students is 30 June 2025.
Applying direct
The Direct Entry Application form is to be used by international applicants who wish to apply directly, and only, to Queen's or who have been asked to provide information in advance of submitting a formal UCAS application. Find out more.
Applying through agents and partners
The University’s in-country representatives can assist you to submit a UCAS application or a direct application. Please consult the Agent List to find an agent in your country who will help you with your application to Queen’s University.
