Corporate Risk Management MSc
Key information
Duration: 12 months full-time; 24 months part-time
Attendance mode: Full-time
Fees: From £15,000 (more information)
Location: Bunhill Row
Start of programme: September 2024
Application deadline: Rolling applications
Entry year: Showing course information for 2024
Develop skills and knowledge to address the ever-changing universe of global corporate risks
Overview
Corporate Risk Management MSc Who is it for?
You are a curious, ambitious, team player, who is excited by the prospect of problem-solving real-life issues across a variety of industries in both the strategic and business operations of global corporations. This corporate risk programme is built for those looking to change career path and transition to a different industry, and those looking to further develop within their chosen industry.
You relish the challenge of learning in a fast-paced, hands-on programme, created and taught by leading academics and practitioners.
You’ll be based within a stone’s throw of the City of London, a global hub for corporate risk management across multiple sectors, giving your studies a uniquely practical and strategic orientation that can be implemented in any industry.
The MSc Corporate Risk Management is an academically rigorous and professionally relevant qualification that will serve your ultimate needs in developing a career with a global focus. You will have a unique opportunity to develop a systematic understanding of the internal and external factors affecting corporate risk management, whilst formulating decisions in complex, interrelated areas of risk, finance, operations, management, and strategy.
Who is this course for?
- Join a diverse international cohort with a strong sense of community between the teaching team and student body
- Tailor your course to your career and industry aspirations with a choice of options in the third term, including a supervised research project plus elective modules, or electives only
- Discover opportunities for industry based research projects with company partnerships
- Two full fee scholarships available from the IRM Educational Foundation (to be confirmed for 2024 entry)
- Join our AIR-Q society (Actuarial, Insurance, Risk & Quants) student society for exclusive access to company careers sessions and corporate risk thought leader events
- Links to global corporations close by in the City of London to further your career and connect with alumni and industry leaders.
Course objectives
Our MSc Corporate Risk Management has been designed to equip you with the necessary skills and knowledge to address the universe of risks that corporations may face.
The globalisation of business models through supply chains, political instability, reliance on technology for revenue generation, and consequences of systemic shocks in society, are omnipresent for corporations. The uncertainty that these phenomena create for corporations can have detrimental impacts across a variety of stakeholder groups, whether it be customers, regulators, suppliers, or local communities.
This programme offers you the ability to address these phenomena for both financial and non-financial corporations, better understanding the interconnected relationship between these corporations and their strategic risks. In doing so, you will learn how to manage corporate risks enterprise wide, over and above their core financial risk exposures, allowing them to remain resilient in the face of an ever-changing competitive landscape.
Teaching staff
Our MSc Corporate Risk Management programme is a first of its kind taught by a combination of leading academics from all of our esteemed faculties within in Bayes Business School - Management, Finance, Actuarial Science and Insurance. They are complemented by Visiting Lecturers who are highly trained professionals, that bring a wealth of experience into the classroom from multiple corporate sectors, they are also active researchers and consultants working in the City of London.
This knowledge and experience inform the highly interactive lectures that make up the MSc Corporate Risk Management.
Dr Cormac Bryce leads the MSc Corporate Risk Management course. His multi-method research spans from human behaviour in financial organisations to the effect of regulation, incentive structures and employee bench-marking on organisational behaviour within the aviation industry and professional sports.
Dr Bryce has authored multiple industry reports on risk management, from the role of leadership in boardroom strategic decision making through to embedding risk management frameworks in FTSE 100 companies.
Module Leaders include:
Accreditation details
CII
The Chartered Insurance Institute is a professional body dedicated to building public trust in the insurance and financial planning profession. CII qualifications are universally recognised as evidence of knowledge and technical expertise.
Students successfully completing the MSc Corporate Risk Management will be awarded exemptions of up to 210 credits of CII modules.
Core MSc CRM Exemptions
Exemption from CII unit (992) Risk management in insurance (30 Advanced Diploma-level credits towards CII insurance qualifications) for passing all the following Bayes MSc CRM modules SMM356, SMM352, SMM359, SMM089. And 30 Advanced Diploma-level non-unit specific credits towards CII insurance qualifications.
*Exemption dependent on students passing certain modules, full details on the CII website
Optional MSc CRM Exemptions (dependent on Student choices for Term 3)
Exemption* of 25 to 50 Diploma or Advanced Diploma-level credits towards CII insurance qualifications for units: (994) Insurance market specialisation or (991) London Market insurance specialisation, (M97) Reinsurance, (M96) Liability insurances. And 30 Advanced Diploma-level non unit-specific credits towards CII insurance qualifications for passing the Applied Research Project.
*Exemption dependent on students passing certain modules, full details on the CII website
Recognition of prior learning towards CII personal finance qualifications
- 30 Advanced Diploma-level non unit-specific credits. This set of non unit-specific credits recognises the degree’s risk management content match to CII personal finance qualifications.
N.B. The maximum prior learning award for qualifications from one awarding body is currently 210 credits.
Full details of the CII prior learning standards are on the CII website in the CII recognition of prior learning scheme rules and recognition of prior learning awarding bodies guide.
IRM
The Institute of Risk Management (IRM) is the leading professional body for Enterprise Risk Management (ERM). They provide globally recognised qualifications and training, all of which are underpinned by their professional standards, defining the requirements risk managers need to meet. By these means, they help organisations and individuals build excellence in risk management so that they protect value and take advantage of opportunity.
Students successfully completing the MSc Corporate Risk Management will be awarded full exemption from the IRM International Diploma in Risk Management. For 30 years, the IRM's International Diploma in Risk Management has been the global choice of qualification for risk professionals and their employers - the gold standard qualification. MSc Corporate Risk Management graduates can apply for ‘Graduate’ membership of the IRM and use post-nominal letters GradIRM.
To qualify for these exemptions Graduates must complete:
- Business Research Project and TWO electives OR
- Applied Research Project and FOUR electives
Validation
The quality of Bayes courses generally is recognised through our ‘Triple Crown’ accreditation by AMBA, AACSB and EQUIS
Bayes has been designated by the International Insurance Society (IIS) as a Global Centre of Insurance Excellence (GCIE). The IIS certification programme recognises outstanding risk management and insurance programmes that play a key role in promoting insurance knowledge and research.
Course content
There are two ways of taking our MSc Corporate Risk Management programme.
- A one-year full-time course
- A two-year part-time course
In each case you will:
- Acquire comprehensive knowledge of the theory, principles and practices of corporate risk management
- Develop a wide range of technical and conceptual skills
- Network with your peers and senior industry professionals in the City of London
- Enjoy an enriching environment as part of an international student body
- Acquire a flexible qualification to prepare you for wide range of roles in insurance, financial and non-financial risk management, operations, or finance.
Course structure
Programme content is subject to change. We regularly review our module offering and amend to keep up to date and relevant.
Induction weeks
All of our MSc courses start with two compulsory induction weeks which include relevant refresher courses, an introduction to the careers services and the annual careers fair.
Part-time programme
The part-time Corporate Risk Management course runs over two academic years, although attendance patterns partly depend on which term 3 pathway is chosen.
The general structure is similar to the one-year full-time course but tuition is spread over two years with students taking only two courses each term rather than four.
Full-time programme
The full-time Corporate Risk Management programme comprises two Induction Weeks, eight Core (compulsory) courses, and a flexible Term 3 that allows you to choose your own personal learning pathway, as follows:
Term 1
Theory of Risk and Insurance Markets
The aim of this module is to provide a sound understanding of the basic principles of risk and insurance and the characteristics of the main types of insurance. The general principles of insurance underwriting and claims management are also covered. This module also provides a thorough understanding of the structure and operation of UK and international insurance markets with emphasis on the insurance markets of Europe, and the factors that shape their development. The wider trends in global insurance and reinsurance markets are also considered.
International Business and Economics
The aim of this module is to give students a sound foundation in international business and a practical understanding of the tools and language used by economists to analyse the functioning of economies and networks of economies as a whole (macroeconomics). The course focuses on why and how firms internationalize as well as ensuring that students understand the global opportunities and threats available to companies and the challenges that international business practitioners are likely to face.
Enterprise Risk Management
This course covers the principles of risk management, which is a key element of the programme. It explores the ways in which management of the overall risks of the firm can enhance firm value. Risk management is at the heart of many critical corporate decisions: day-to-day operations, resource allocation, strategic planning, capital structure, reputational and legal exposure, and performance measurement.
Global Banking
This module aims to provide students with an insight into the major features of the banking business and to provide a framework for the understanding of the different types of banks and banking activities. The first part of this module will examine the changing characteristics of the banking industry. We will examine in some detail the main businesses banks are involved in and see how these different activities fit within a bank’s overall portfolio. We will see how different banks are pursuing different models (universal banking vs. specialised banking). In particular, the asset structure and revenue earning features of major commercial and investment banks will be examined. In addition, their cost and return features, together with recent developments in the industry will be outlined. We will then focus on a number of overarching themes, such as the interplay of regulatory changes, globalisation, technological advances, digitalisation and financial innovation and the emergence of new markets.
Term 2
Supply Chain Finance and Risk Management
Recognising the multifunctional nature of the challenges faced, supply chain finance provides a multidisciplinary approach combining advancements from corporate finance and supply chain management in order to optimise financial flows and capital allocation in supply chains with the aim of improving supply chain performance and resilience. A key focus of this module is to elaborate on these technologies that enable supply chain finance solutions and how these technologies add value to companies in the supply chain.
Derivatives and Risk Management
This course examines derivatives, which are a key part of modern finance. An understanding of how they are structured, priced and used to hedge financial risks is vital for those considering careers in equity, fixed income or currency portfolio management or trading.
Financial Risk
The aim of this module is to examine the universe of financial risks that financial and non-financial corporations are exposed to in their business models. In doing so it provides a conceptual framework for the treatment of these risks by corporations as they attempt to achieve their strategic business objectives.
Risk Analysis and Modelling
The aim of this course is to explore the practical application of statistical risk modelling techniques used in the Insurance and Risk Management Industries. All of the subjects taught on the course are accompanied by computer models built in Excel to help you understand both the theory and practice of this subject. While focus is placed on how these applied methods are used in the Insurance Industry, students with a more technical background are given the opportunity to explore the mathematical background to the subject matter. No previous background in statistics or risk modelling is assumed by the course, and all subjects are taught from the ground up.
Research Project Management Skills Workshop
This module trains students to undertake independent research either in the context of a single organisation or by using third-party sources. It provides the necessary tools and skills to initiate, research and write up a business project and includes training in research methodology, availability of data sources, project writing, time-management and presentation skills.
Term 3
In term 3, you are required to choose one of the following options:
- Option 1: You can opt to write a 10,000-word Business Research Project (40 credits) and take two specialist elective modules (2 x 10 credits)
- Option 2: You can take six specialist elective modules (6 x 10 credits)
- Option 3: You can opt to write a 5000 word Applied Research Project (20 credits) and take four specialist elective modules (4 x 10 credits)
Business Research Project
It is important for aspiring professionals to demonstrate, on an individual basis, their ability to apply concepts and techniques they have learned in an in-depth study of a topic of their choice and to organise their findings in a report, all conducted within a given time limit.
To train you to undertake individual research and provide them with an opportunity to specialise in a contemporary business or finance topic related to their future career aspirations.
You are required to submit a project of approximately 10,000 words on any subject area covered in the rest of the programme. Typical projects can involve any of the following: extracting data from electronic databases or by hand; statistical analysis of large or small populations; interviews; case studies of an industry or a sector or of a business / finance issue in a particular country setting.
Applied Research Project
The aim of this module is to enable you to demonstrate how to integrate your learning in core and elective modules and then apply this to the formulation and completion of an applied research project. You will be required to demonstrate the skills and knowledge that you have acquired throughout your MSc study.
You will undertake a short piece of applied research on a question of academic and/or practical relevance. Guidelines will be provided to help you identify the research question. Based on your chosen topic, you must write a report of around 3000 - 5,000 words that summarises and critically evaluates your method and your findings.
Term three elective modules are chosen from a list of modules made available early in term two. These allow you to tailor learning in areas of specialist of personal interest to yourself, providing flexibility in how you approach the programme, whilst focussing on key areas of corporate risk exposure that transcend industries.
Specialist electives planned for 2023*
You are required to take between two and six specialist Elective courses as part of your degree. They are usually assessed by coursework only.
Bayes Business School offers over 90 different Elective courses, which are reviewed and updated regularly.
Examples of Electives suitable for MSc Corporate Risk Management students, currently offered, include:
- Business Research Project
- Applied Research Project
- Alternative Risk Transfer
- Reinsurance
- Operational Risk Management
- Liability Insurance
- Cyber Risk
- Sustainable Finance with ESG
- Shipping Risk Management
- Digital Finance
- Country and Geo-Political Risk Management
- Sustainability in Digital Supply Chains.
Please note that electives are subject to change and availability.
Download course specification:
Corporate Risk Management MSc [PDF]Assessment methods
Term dates
Term dates 2024/25
- Induction: 9th September 2024 - 20th September 2024
- Term one: 23rd September 2024 - 6th December 2024
- Term one exams: 6th January 2025 - 17th January 2025
- Term two: 20th January 2025 - 4th April 2025
- Term two exams: 21st April 2025 - 2nd May 2025
- Term three - international electives: 5th May 2025 - 16th May 2025
- Term three: 19th May 2025 - 4th July 2025
- Term three exams: 7th July 2025 - 18th July 2025
- Resits: 11th August 2025 - 22nd August 2025
- Additional resit week - tests only: 25th August 2025 - 29th August 2025.
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.
Fees & funding
UK/Home fee
2024 entry
£15,000 per year
Full-time route
part-time (two-year) route
Tuition fees are subject to annual change.
International fee
2024 entry
£26,000 per year
Full-time route
Part-time (two-years) route
Tuition fees are subject to annual change.
Deposit: £2,000 (paid within 1 month of receiving offer and non-refundable unless conditions of offer are not met).
First installment: Half fees less deposit (payable during on-line registration which should be completed at least 5 days before the start of the induction period).
Second installment: Half fees (paid in January following start of course).
Scholarships & bursaries
Scholarships, sponsorships, loans and other funding could support your education at Bayes Business School.
Learn about the cost of living as a Bayes student in London.
Scholarships
We have a range of scholarships for Master's degrees at Bayes Business Scool. Most scholarship applications for 2024/25 year of entry will open in January 2024.
View our scholarships and fundingOther funding opportunities
A postgraduate loan is available from the Government to help cover the cost of postgraduate Masters study.
View other funding optionsCareers
This degree is designed to help launch a risk management career in a multitude of industries including manufacturing, supply chain, aviation, financial services, retail, government agencies, and consultancy. It also allows those already within their preferred industry to accelerate their career development, whilst ensuring flexibility of learning outcomes through a multitude of elective choices in term 3.
Take advantage of our close links with global leaders in the corporate, insurance and risk industries, and our experienced Careers Team, to understand your professional aspirations and find a career that matches them.
Alumni stories
Entry requirements
- A UK upper second class degree or above, or the equivalent from an overseas institution.
- Some level of previous study in business or finance is preferred.
- Work experience is not a requirement of this course.
English language requirements
If you have been studying in the UK for the last three years it is unlikely that you will have to take an English language test.
If you have studied in the UK at degree level for less than three years (e.g. 3+1, 2+1, 2+2, etc.) you will be required to provide the results of an approved English language test and possibly resit the test to meet our academic entry requirements.
Full list of approved English language tests/qualifications and minimum requirements.
Apply
Please see our Application Guide for details of the documents you will need to supply as part of your application, and other useful information.
We cannot comment on individual eligibility before you apply. We can only make a decision on your application once it is fully complete, with all requested information received
Apply for 2024 entry
We only accept online applications.
Terms and conditions
Students applying to study at Bayes Business School are subject to City, University of London's terms and conditions.
Student life
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