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MSc Financial Risk Management

Masters in Financial Risk Management

At a glance

  • Enhance your career prospects in one of the most sought after areas of finance
  • Study one of the most recognised risk management Masters courses in the UK, which is accredited by the Global Association of Risk Professionals (GARP)
  • Enrich your risk management expertise with a syllabus covering a major part of the GARP FRM Part I qualification
  • Focus on highly specialised topics such as market risk, financial instruments and credit risk
  • Benefit from the programme’s affiliation with the CFA Institute, as well as additional professional exam exemptions from PRMIA
  • Enhance your employability skills by undertaking a summer work placement as part of your study
Locations
Whiteknights campus (Reading)
Subject area(s)
Finance (ICMA Centre)
Start Date
September 2024
Duration
12 months
Attendance
Full-time
Programme Director
Nadia profile photo
Dr Konstantina Kappou

Overview

94% of students would recommend their programme
Masters Careers Survey 2022
97% employed post graduation
Masters Careers Survey 2022

This Masters course is tailored to the needs of the rapidly evolving financial markets, providing you with an insight into new innovations in the area of risk management. The financial system has undergone major restructuring in preparation for the new regulatory frameworks, affecting existing roles and creating different skillset requirements within risk management divisions of financial institutions.

Through our long-term academic partnerships and accreditations by leading professional bodies, the MSc Financial Risk Management offers a rigorous learning experience, combining a practice focused approach and current market intelligence. You will also benefit from exemptions to professional certifications from leading professional bodies worldwide.

GARP rgb

The MSc Financial Risk Management is accredited by the Global Association of Risk Professionals (GARP). The curriculum integrates applied academic knowledge to industry needs and is mapped to the GARP FRM Part I qualification, offering you insights into the latest professional practices in Risk and a significant competitive advantage in your career journey.

7th in the UK (40th in the World)
for Masters in Finance
(Financial Times 2023)
7th in the UK
For average salary percentage increase after graduating from Masters in Finance
(Financial Times 2023)

Our on-campus MSc programmes are available only on a full-time basis, studying for 12 months.

Students will be resident and undertake full-time study in the UK, taking a combination of compulsory and elective modules throughout the academic year.

Course Structure

September - December: Semester 1

January - February: Semester 1 Assessments

February - May: Semester 2

May - June: Semester 2 Assessments

June - September: Summer Semester

August - September: Summer Assessments and Semester 1 & 2 Resits

Assessments can also be due during the teaching weeks. Summer Semester resits are scheduled as needed and could be as late as January/February of the following year.


The Henley pre-study course suite

Exclusively available to Henley Business School offer holders, the Pre-study course suite comprises of innovative short courses designed and developed by Henley faculty on the Futurelearn platform, one of the leading online learning platforms.

An innovative short course designed and developed by Henley faculty on the Futurelearn platform, one of the leading online learning platforms.

This pre-study interactive course is designed by ICMA Centre faculty to prepare you for your learning journey at Henley if you are undertaking postgraduate study in any finance-oriented subject. Through the course, you will appreciate the purpose of finance and investment, the main types of investment and financial markets, as well as the process of valuing investments and the role of risk and return in investment performance. These are all important fundamentals in understanding the workings of financial markets and being able to apply them to real and practical problems as part of your course. We encourage you to take the course even if you have studied finance before. The course is delivered online, requires around 15 hours of study and can be completed at your own pace.

N/A

This course will provide building blocks of knowledge to help you prepare for your learning journey in the area of your choice as well as equip you with key employability and study skills for successfully navigating your studies and professional career.

This pre-study interactive course is designed by Henley Business School faculty, the University of Reading Study Advice Team and the International Study and Language Institute. The course aims to prepare you for your learning journey at Henley and focuses on helping you build important study skills to succeed in your Masters and beyond. Skills such as curiosity and independent thinking, effective communication and collaboration, digital capabilities, storytelling, empathy and professional integrity are not only important in your course itself but are also sought after by employers in all areas of business. Therefore, they are instrumental in succeeding in your professional career. The learning journey of our Masters programmes is designed in a way that allows you to build such skills and this course intends to demonstrate exactly how, and therefore help you to make the most of your Masters.

N/A

A course delivered online by Henley faculty and you will receive online support from one of our teaching staff members and be able to interact with other prospective students in your course.

This pre-study interactive course is designed by Henley Business School faculty to introduce you to the world of coding in Python. According to recent employer surveys, coding is a top 5 employability skill in the new world of work. The World Economic forum includes technology design and programming in the top 10 skills of 2025. Coding is an extremely powerful skill to have going forward in all areas of business and finance. Due to the importance of coding skills in your future, you will be using coding in some of your courses depending on your choice of programme at Henley Business School. So, this pre-study course can be seen as a stepping stone in your learning journey. Even if coding is not directly utilised as a part of your programme, completing this course, earning the certificate and complementing this with some further independent learning, could set you apart in an increasingly competitive job market. Python is the most utilised programming language in the world and so the purpose of this course is for you to learn the fundamentals of Python, and how to use it to solve practical problems in your area of interest.

N/A

This pre-study interactive course is designed by ICMA Centre faculty to prepare you for your learning journey at Henley if you are undertaking postgraduate study in any finance-oriented subject.

Quantitative techniques and statistics are among the main tools finance and investment professionals utilise in analysing data linked to financial markets and securities. This interactive pre-study course is designed to deliver these essential building blocks in maths and quants and prepare you for a Finance Master’s if you don’t have a finance, maths, or quants background. For those with a relevant background, it can serve as a refresher of this essential knowledge.

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Semester 1

Compulsory modules Credits

The module aims to equip students with the main principles of Investment Theory. It begins with an overview of the interaction between users and suppliers of capital and the theory behind investor behaviour towards financial risk and reward.

It then analyses the main framework of portfolio theory and optimum asset allocation, and how portfolio diversification can help minimise investment risk. Through the introduction of the main pricing models (single-factor and multi-factor) and the fundamental concept of arbitrage-free pricing, students are exposed to techniques for valuing and comparing different risky assets. The theory of Market Efficiency and its violation completes students’ perception of how financial market equilibrium is reached in modern economies. Furthermore, the module provides an in-depth introduction to financial derivatives (futures and options) and their key role in leveraging and hedging investments. All the techniques introduced are widely applied in other elements of the programme.

Academic authors
Nadia profile photo
Dr Konstantina Kappou
20

This module focuses on fixed income and equity securities evaluation and provides an introduction to international financial markets and an overview of financial institutions.

Part I of the module applies general valuation methods to specific financial instruments: fixed income and equity securities. It describes the basic characteristics of each security and develops practical strategies for finding its value and assessing its risk.

In Part II, the main characteristics and risks of a range of financial markets are presented: equity, fixed income, foreign exchange, futures and commodity markets. A series of interactive workshops are used to learn about ethical investing and alternative trading systems. The aim of part II is to provide an economic framework for understanding global financial markets, financial institutions, market players and the importance of liquidity and price efficiency.

This module is core for several financial programmes. It provides a rigorous academic framework for assessing security values, interpreting changes in the price of financial instruments, managing risks, and comparing alternative market structures. Also, it provides a practical group project and trading simulation sessions, where students will gain hands-on experience with trading in alternative market structures.

Academic authors
Miriam Marra
Dr Miriam Marra
Alfonso Dufour
Dr Alfonso Dufour
20

This module equips you with the quantitative tools used by market participants. The module uses a mixture of (1) lectures where the theory and concepts are introduced and (2) seminars and workshops where we apply the knowledge to practical cases.

It is an introductory applied econometrics module with an emphasis on finance.

The aims and objectives of the module are to give students an introduction to econometrics so that they might understand the econometric techniques used in the finance research literature. Via case studies and computer modelling exercises, students then learn how to apply these techniques to real data. Emphasis is placed on practical applications of the techniques in the global financial markets. The module aims to encourage the development of IT and data handling skills: in particular, the use of Python as the software to apply the econometric techniques to data from Eikon and Bloomberg.

Academic authors
Lisa 1 002
Dr Lisa Schopohl
Michael Clements
Professor Michael P. Clements
20

This module introduces students to programming in finance. Programming skills are among the most desired in today’s data driven business landscape. Python and SQL languages have become an industry standard and are widely used to produce innovative financial products and services. Common applications include big data analysis and manipulation, algorithmic trading, portfolio analysis, and machine learning algorithms.

Students who complete this course should be able to write programming functions in Python, process data files including reading, modifying and writing data to external files; to connect to databases and to obtain and process data from the Web, as well as, to use Python for Finance applications including developing trading strategies, and back-testing with historical data, estimate risk measurements, and evaluate the performance of the strategies.

Students are expected to have completed the “Future of Work: Coding with Python for Business and Finance” pre-entry module before they start this module.

Academic authors
Vu Tran
Dr Vu Tran
20

Semester 2

Compulsory modules Credits

The purpose of the module is to provide an understanding of the latest developments in banking regulations that are the main driving force behind changes in our approaches to risk measurement. It focuses on the foundations of market risk analysis and the basic models for assessing market risk. Participants utilise market risk measurement techniques that are used daily in the front and middle offices of banks; particular emphasis is placed on the appraisal of the covariance matrices that are used to measure the market risk of portfolios. They also learn to build various Value-at-Risk (VaR) models for market risk for international portfolios of equities, FX, interest rate products, commodities, derivatives etc. The module has a significant practical component with computer-based workshops that are designed to support the lecture material.

Academic authors
Emese Lazar
Professor Emese Lazar
20

Having established the theoretical basis for security valuation in Part I, this module extends students’ understanding to the valuation of financial instruments and their applications. The module has a significant practical component with seminars that are designed to support the lecture material. Students will be introduced to all types of risks that are embedded in listed and OTC derivatives across all asset classes. They will become familiar with exotic equity options, understand their pay-offs and some simple analytic pricing approximations. They will value some of the most popular swap varieties, and understand how they may be used for managing risk. They will value caps, floors and swaptions, convertible bonds and understand the interplay between market and credit risk factors. They will outline the basic credit derivatives, including total return swaps, default swaps and collateralized debt obligations.

Academic authors
Nadia profile photo
Dr Konstantina Kappou
20

This course introduces students to a set of newly developed techniques to measure and manage credit risk in bank portfolios. In recent years financial institutions have been looking at ways to quantify risk in their corporate loan and mortgage books. The lack of market prices for these types of illiquid assets implies that standard risk assessment procedures can not be employed.

The course focuses on (1) risk management lessons from past financial crises (2) alternative risk metrics (value-at-risk vs expected shortfall) (3) default, migration and recovery risk, (4) credit ratings, credit scoring models, spread implied ratings and default probability models, (5) how to measure portfolio credit risk using contingent claim and credit rating based approaches (6) credit risk management tools (7) credit risk capital regulation (Basel II and Basel III) and (8) stress testing.

Academic authors
Simone Varotto small
Professor Simone Varotto
20

Students select 20 credits from the following;

Optional modules Credits

Building on the material introduced in Quantitative Methods for Finance, this module covers a number of more advanced techniques that are relevant for financial applications, and in particular for modelling and forecasting financial time series. These include an introduction to maximum likelihood estimation and two-stage least squares, models of volatility, simulation techniques, and multivariate models. Case studies from the academic finance literature are employed to demonstrate potential uses of each approach. Extensive use is also made of financial econometrics software to demonstrate how the techniques are applied in practice.

Academic authors
Michael Clements
Professor Michael P. Clements
20

The principal aim of the module is to familiarise students with the private equity (PE) and venture capital (VC) fund raising and investment process and with M&A deals. The purpose is to develop students’ appreciation of the practical aspects of investing by PE and VC firms, understanding the dynamics between the PE and VC investor and the entrepreneur, and also the practicalities of raising PE&VC funds from institutional investors and transacting M&A deals.

The focus of the module is on PE and VC and high-growth ventures from the viewpoints of both the entrepreneur or management team and of the investing institution (general partner), although private equity as a whole is covered (including management buyout transactions) as well as the relationship between the private equity or venture capital firm and its own investors (limited partner institutions) as are mergers and acquisition deals. adherence to environmental, social and corporate governance (ESG) and diversity & inclusion (D&I) considerations.


This is a highly practical module; extensive use will be made of case studies and a group project in addition to guest seminars from invited experienced practitioners and entrepreneurs.

This module is intended for students who may be interested at some stage in their careers in raising private equity or venture capital finance for an entrepreneurial venture or management buyout, or who see themselves working in a professional investment capacity (eg with a private equity firm as an investment executive or with an investment bank) or as an investor with a pension fund, bank or insurance company or as a corporate finance adviser, or who simply want to gain an understanding of how the private equity & venture capital fundraising and investment and M&A processes work.

Academic authors
Keith Arundale
Dr Keith Arundale
20

Fixed Income Cash and Derivative Markets applies more advanced valuation and risk assessment methods that build on the knowledge introduced in the fixed income component of the first term Fixed Income and Equity Investments module: It describes the basic characteristics of fixed income derivatives, structured products and credit sensitive securities and develops practical strategies for valuation and risk assessment. It also considers how the markets for these securities are related and begins the task of showing how these relationships can be exploited for trading or investment. The module is designed not only for students wanting a more advanced knowledge of the fixed income markets, but also for students wishing to take the exam for the ICMA Fixed Income Certificate (ICMA FIC)

Academic authors
Gail Rolland
20

This module explores how financial investors incorporate sustainability considerations and environmental, social and governance (ESG) criteria into their investment decisions. The module offers an introduction to the main sustainable investment strategies, the main players (governments, supranational institutions, corporations, investment funds, banks) in the sustainable investment space and the application of sustainable investment in different asset classes.

A particular focus in this module is on green and climate change-related investments, but the module also explores the social and ethical dimensions of sustainable investment.

The aim of the module is to familiarise students with the main strategies employed in sustainable investments and the role that sustainable investment can play in addressing societal challenges such as climate change. Using real-world examples and ESG data, students will learn about the key challenges and opportunities that investors incorporating ESG criteria face. Students will also be introduced to the crucial role of financial regulation and voluntary standards/principles in the sustainable investment space.

Academic authors
Lisa 1 002
Dr Lisa Schopohl
20

This investment portfolio management module covers key topics, techniques and discussions, including investment styles, in relation to constructing and maintaining an optimal investment portfolio. The teaching approaches all topics from academic and market, practical perspectives. More detailed aims and learning outcomes are included below.

The module aims to build on the investment management foundation that has been introduced in the Securities, Futures and Options module. This investment portfolio management module covers the issues involved in understanding the investment management industry, constructing and maintaining an optimal investment portfolio (active, passive or smart beta investment styles), diversification, evaluating portfolio performance, risk management and portfolio rebalancing. The module will also introduce you to the world of alternative investments - the hedge fund industry, in particular. The compulsory, practical group project of the course will provide students with hands-on experience in constructing and managing a realistic investment portfolio.

20

The aim of the research project is to allow students to define and execute a piece of research in finance on a topic of their choice, with direction from an academic supervisor and with assistance from a doctoral student support supervisor.

The self-directed nature of study for this model should encourage students to be resourceful in their search for relevant literature and data, and to manage the various stages involved effectively, leading to timely submission of the finished piece.

Academic authors
Charles Sutcliffe
Professor Charles Sutcliffe
20

Summer Semester

Students select 20 credits from the following;

Optional modules Credits

This module is designed for advanced Master’s students and doctoral students. It has a very high technical content. It aims to equip the students with the foundations of theoretical asset pricing and with the relevant skills for performing empirical tests. Additionally, a few important corporate finance topics will be covered in the format of student presentations. The objective of the module is to prepare students to become independent and quality researchers.

Academic authors
Marcel Prokopczuk
Professor Marcel Prokopczuk
20

The module is less quantitative option open to all MSc students that builds on the coverage of futures contracts from term 1. By the end of the module it is expected that students will be aware of the different ways of constructing stock market indices and the implications of these differences, how futures contracts are traded and the identity of some of the close substitutes for trading index futures, how futures can be priced using an arbitrage relationship, how futures can be used for hedging the price risk of the underlying, and the various uses that fund managers make of these instruments.

Academic authors
Charles Sutcliffe
Professor Charles Sutcliffe
20

This module gives students the opportunity to pursue a work placement with an external organisation broadly related to the general sphere of their degree studies. The aim of the module is to allow participants to gain work experience in a career path of interest, develop a wide range of employability skills, build their network and enhance market awareness. The maximum duration of the placement is 3 months and it takes place during the summer period (June-August). Placements should be secured by students independently. The Centre’s career development office can support students in their search and application process. Placements secured by students are subject to the approval of the module convenor. The module is assessed by a 3,000-word project based on the work experience gained.

Academic authors
Michael smith
Dr Michael Smith
20

Industry participants estimate that 70-80% of equity trades are executed through computers. Market-makers in equity, fixed income and currency markets use algorithms to automatically adjust their quotes.

This module reviews the current state of the trading industry and identifies aims, features, regulations, and limitations of three main groups of algorithmic trading strategies: market making, trade execution and statistical arbitrage. Practical seminars are used to demonstrate how to apply trading algorithms to high-frequency data.

This module will equip the students with a basic knowledge of algorithmic and high frequency trading strategies which are commonly used in the trading industry.

Academic authors
Alfonso Dufour
Dr Alfonso Dufour
20

This module aims to provide students with an understanding of financial decision making in the context of alternative investments and to introduce the key principles and techniques of financial engineering used in structured product design.

By the end of the module, students will be able to

  • Discuss the particularities of different forms of alternative investments, especially hedge funds, commodities and real estate
  • Characterize the benefits and risks of different alternative investment classes
  • Apply key concepts of financial engineering to structured product design
  • Explain and analyse different types of structured products currently available in the global capital markets.
Academic authors
Marcel Prokopczuk
Professor Marcel Prokopczuk
20

Sustainability is becoming a priority not only in government policy but also in business strategy. The role of the private sector in achieving sustainable production and consumption models is key to preserve fast depleting natural resources, improve social justice and reduce inequalities, address climate change and loss of biodiversity. This module explores how sustainability can be incorporated in business practices and balanced with corporate growth objectives.

You will look at how to implement sustainability objectives in a corporate environment and how governments can facilitate corporate sustainability with the right incentives and policies. This module aims to give students a thorough understanding of how sustainability goals are shaping the corporate world and how this transformative process is involving a wide range of stakeholders.

20

*The module or course content descriptions set out on this page are correct for those being taught in the current academic year. Modules or course content marked as optional are indicative and may be subject to change. Please note, constraints in timetable scheduling may mean you are unable to take some optional modules at the same time as others.

Fees
2024 entry £15,300

Scholarships

Scholarships are available to support high-potential students. All applications are automatically considered for a scholarship. No separate scholarship application is necessary. Simply submit your application for a Masters programme starting in 2024 and you will be automatically notified if you are successful. Shortlisting and selection are based on academic merit and the candidate’s potential as demonstrated in the application form. For more details, visit our scholarships webpage.

Fees
2024 entry £27,500

Scholarships

Scholarships are available to support high-potential students. All applications are automatically considered for a scholarship. No separate scholarship application is necessary. Simply submit your application for a Masters programme starting in 2024 and you will be automatically notified if you are successful. Shortlisting and selection are based on academic merit and the candidate’s potential as demonstrated in the application form. For more details, visit our scholarships webpage.

  • Undergraduate Degree – Minimum 2:1 or the equivalent from an overseas institution*
  • Degree Discipline – Any degree discipline, but must have a satisfactory level of numeracy
  • Building Blocks of Maths and Stats for Finance course – We may ask you to complete and pass the free online 2-week Building Blocks of Maths and Stats for Finance course developed by the ICMA Centre on the FutureLearn platform, if we think it is appropriate in your individual case. For example, if you have been out of education for more than a few years or have little evidence of any numerical ability.

* Please note that due to increasing competition for places on our Masters programmes our entry requirements may change.

We operate a rolling admissions system and you are therefore advised to apply early in order to be sure of your place on our programmes. We experience high levels of demand, and it is possible we might have to close applications to some programmes once places are filled.

English requirements

Studying in a second language can be challenging. If your English language ability is below the minimum requirement, we may ask for evidence of proficiency. Alternatively, we may ask you to attend an English language course before you begin your studies with us.

Requirement Criteria
IELTS 6.5 with no component below 6.0 in any sub-skills
IELTS with pre-sessional English 6.5 with no component below 5.5 in each of the four sub-skills

Pre-sessional English Programme

The Pre-sessional English Programme is for international students who need to meet their degree programme English language requirements. Our courses equip you with the skills and language needed for academic success, including critical thinking, self-reflection, learner autonomy, research skills and integrating sources. The Pre-sessional English Programme is accredited by the global association of Lecturers in English for Academic Purposes, which guarantees you will receive a high-quality student experience.

Find out about our comprehensive range of Pre-Sessional English courses

Acceptance of LanguageCert Online and DuoLingo English qualifications

We appreciate the difficulties that some students are having with the availability of English Language tests, as the impact of the global pandemic continues. As a result of this, we are pleased to announce that we can now accept the non-SELT version of LanguageCert (which includes the online version) and DuoLingo as suitable English language qualifications. These can be accepted for direct entry onto Undergraduate (except Speech and Language Therapy), Postgraduate Taught (except Speech and Language Therapy) and Postgraduate Research programmes.

For information on individual programme requirements and other English language qualifications, please visit our English requirement equivalent page.

If you require specific advice on your qualification please contact admissions directly by e-mail  or telephone on +44 (0) 118 378 5289.

UK visa requirements

If you are not a national of the European Union (EU), you may need to obtain a UK visa. This visa will allow to live and study in the UK. See the  UK Border Agency website. Contact the University's International Office with any questions:  intoff@reading.ac.uk.

Graduate Route

The UK's Graduate Route post-study work visa allows you to apply to stay in the UK for up to two years after you graduate, with the opportunity to undertake skilled work. Visit the University website for the latest information.

Henley’s Masters courses reflect the challenges and opportunities faced by today’s leading businesses. Our committed and experienced academic staff deliver teaching that is always relevant and contemporary.

“The materials were up-to-date and contained both theoretical and practical aspects of the subject. I extremely enjoyed it as it helped me to delve into the heart of Risk Management in Finance and introduced me many useful and informative sources and software for starting doing a research in this area. I enjoyed the positive and instructive atmosphere of HBS and its knowledgeable teachers.”
Financial Engineering graduate, currently pursuing further study

Where are our 2021 graduates now?

97% employed post graduation
Masters Careers Survey 2022
94% of students would recommend their programme
Masters Careers Survey 2022
£38,712 average salary one year post-graduation
Masters Careers Survey 2022
91% said the careers team had a positive impact on their career
Masters Careers Survey 2022

2021 graduates in this area are working at the following organisations:

Morgan Stanley
Fidelity
Bank New York Mellon
Deutsche Bank
ICBC
S&P Global
Bangkok Bank
AIG
PwC
Erst & Young
L'Oreal
State Street Bank
Bank of East Asia
Metlife Investment Management
BlueBay Asset Management
Santander Bank

23 UPM 041 PGT Pie ICMA p
22 MIS 036 ICMA map

Please note the above statistics are based on respondents to our Masters Outcomes Survey in 2022, which was completed by our 2021 graduates, 12 months after graduation.

Respondents are from the following programmes: MSc Behavioural Finance, MSc Corporate Finance, MSc Finance, MSc Finance and Financial Technology, MSc Financial Risk Management, MSc Investment Management.

How can Henley Careers work with you?

Here at Henley we have an award-winning careers team here to support you through your time here and four years after graduating from us.

Here is how Henley Careers can help you:

  • Careers Consultant appointments - Our Careers Consultant are here to help and support you with any careers related concern that you might have. Whether it’s advice on your CV, practicing for an interview, looking at possible reasons why applications aren't being successful or support planning your career goals, we’re here to help empower you to progress in your career.
  • Events - Henley Careers organise numerous events aimed to help you build your confidence, develop the skills employers are looking for, network with employers and expand your industry knowledge.
  • Alumni support - You can continue to book one-to-one appointments with your Careers Consultant and use our online resources for up to four years after you graduate to get help and support in your career.
  • Career Smart - Get a head start in securing a graduate job by taking part in our online course, Career Smart. You can expect to learn about the graduate recruitment cycle in the UK, where to look and how to start applying to jobs, and the different types of roles available to you.

For more information please see our Careers page.

Continuing your career

After completion of this programme, you will be well-prepared to follow a career in the challenging fields of risk management, or risk analysis with banks, regulators, portfolio managers, corporate treasuries, risk management software houses, specialist financial boutiques and hedge funds. Regulators, governments, advisors and commentators are unanimously endorsing the call for more and better qualified risk managers and analysts to join the financial industry.

Professional accreditations

Global Association of Risk (GARP)

Global Association of Risk (GARP)

Professional Risk Managers’ Association (PRMIA)

Professional Risk Managers’ Association (PRMIA)

Chartered Institute of Securities & Investment (CISI)

Chartered Institute of Securities & Investment (CISI)

CFA Institute

CFA Institute

Apply for 2024 entry now

Apply online now through the University of Reading’s online application service.

The online application service allows you to complete your application information, and attach electronic copies of your academic transcripts, certificates and other supporting information. It also provides a facility for an email request to be sent to your referees. This enables the referees to send your supporting references directly to us.

When to apply

We operate a rolling admissions system and it is recommended that you apply early to secure your place. There is no specific deadline and applications will be considered until the programme is full. However, to allow us time to process your application we recommend that you apply by the following dates:

UK/Home applicants International applicants
1 August 1 July

After you apply

You will receive a confirmation email when we receive your application form. Your application is then reviewed by a member of staff. If successful, you will receive a formal offer letter outlining any necessary entry criteria you will need to meet. You'll then be asked to confirm your acceptance of this offer.

If you require a Certificate of Acceptance for Studies (CAS) for your visa, details will be sent by email once all conditions of the offer have been met.

Throughout the admissions process we will keep you updated with key information via email. We also provide opportunities to interact with faculty and staff online.

Find us on Facebook  and keep up-to-date with news and events at Henley or ask us a question. In addition, you can speak to a current student, our students are always happy to share their Henley experience.

The ICMA Centre is among the pioneers in finance education and renowned for its strong links with the financial services industry. The Centre was ranked number 7 in the UK for its Masters in Finance programme in 2023 (Financial Times Masters in Finance Ranking). It is also part of Henley Business School – among an elite group of 75 business schools in the world to hold triple-accredited status from the leading UK, European and US accrediting bodies: AMBA, EQUIS and AACSB.

The Centre’s unique practice centred approach includes a number of finance education innovations. These will provide you with a solid grounding for a career in the industry. The approach aims to equip you with a skill set that sets you apart from graduates of other finance programmes. Your employability track record is also bolstered by an in-house comprehensive career development programme.

Reading has proximity to the world’s top financial centre (25 minutes from London Paddington). Several leading professional bodies including the CFA, CISI, GARP and ICS validate our programmes and offer exam exemptions to our students.

Joining one of the top schools of finance in Europe, you will benefit from state-of-the-art facilities. You will have access to the latest technology and will be taught by world-renowned faculty and industry experts. Our innovative teaching and learning environment includes trading and financial analysis simulations. We also have the latest financial data and programming software. Our three dealing rooms are one of the largest facilities of its kind in the world. They provide an ideal setting for understanding how businesses and markets function in practice.

Our students’ learning experience is a top priority for academic faculty and administrative staff at the ICMA Centre. This is reflected in the latest student satisfaction rates in the PTES and NSS student surveys.

Speak to a current student

Contact us

For any questions of academic nature about this programme you are welcome to contact directly the Programme Director, Dr Nadia Kappou at k.kappou@icmacentre.ac.uk

Admissions

If you have any questions about admissions, please don't hesitate to contact us.

Email: admissions@icmacentre.ac.uk
Telephone: +44 (0)118 378 6497
An image of Maria Thoma
“I certainly enjoyed the modules Credit & Market Risk and Financial Instruments, which were helpful in answering questions during interviews and when theoretical knowledge was needed on some risk-related aspects.”
Maria Thoma Senior Risk Analyst at State Street Bank Poland Masters in Financial Risk Management
An image of Nan Zhang
“Henley Business School features a beautiful campus, an excellent curriculum, and state-of-the-art resources. The professors are highly knowledgeable and supportive. The Career Centre provides comprehensive guidance for job-seeking in the UK. My experience has been incredibly positive.”
Nan Zhang Senior Recruitment Consultant at Michael Page Masters in Financial Risk Management
An image of Marios Tziortzis
“The programme has supplied me with valuable experiences and knowledge that have helped me to succeed in my professional career. It has also given me the opportunity to start a professional qualification.”
Marios Tziortzis Middle Office Operations Analyst at MUFG Investor Services Fintech Masters in Financial Risk Management

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