Finance, Banking and Insurance MSc
View course-specific entry requirements
Applicants should normally hold a first degree from a recognised institution (minimum Lower Second Class Honours or international equivalent) and demonstrate interest and motivation in the subject area. Alternative professional qualifications with at least three years' relevant professional experience will also be considered. Directly relevant degree disciplines include business studies, economics, geography, management, and operations research. However students with qualifications in other disciplines such as engineering, environmental sciences, the humanities and languages are also encouraged to apply.
Members of the Chartered Insurance Institute who hold and Advanced Diploma in Insurance or Advanced Diploma in Financial Planning get direct entry onto the programme.
If English is not your first language, you will need an IELTS score of 6.5, with a minimum score of 6 in each element.
In the aftermath of the 2007-2009 financial crisis, most organisations in finance, banking and insurance are undergoing major changes. These organisations are actively seeking postgraduates who are disciplined in these fields. Westminster Business School is one of just a handful of UK universities to offer a Master's degree in Finance, Banking and Insurance, leaving our graduates' skills sought after on the job market.
Studying Finance, Banking and Insurance MSc will enable you to pursue a wide range of careers in the financial services industry and to study further for professional institute exams. This year-long full-time programme is designed for students who want to work in the areas of finance, financial services and banking, investment banking, retail banking, insurance, re-insurance and hedged funds as private client advisors and financial analysis both in the public and private sectors.
The course is designed to give you an essential understanding of the role and operations of the finance, banks and insurance companies. The course is delivered by highly qualified individuals with extensive research experience and strong industry links. During your studies, you will acquire essential knowledge and skills that will set the foundations for a successful career in the financial services sector, and you will gain access to our ever-growing alumni network which will support your career development following your graduation.
A highlight for many students are the field trips and social events organised throughout the course which provide an opportunity for networking with peers, alumni and industry professionals.
Students on this course benefit from free access to part of the material on the course reading list and an online subscription to Financial Times.
The following modules are indicative of what you will study on this course. For more details on course structure and modules, and how you will be taught and assessed, see the full course document.
Compliance and Law in Banking and Insurance
This module offers a detailed examination of the law, legal principles, regulation, compliance and supervision that applies to domestic and international banks and insurance companies. The module focuses on relevant reforms to the banking and insurance companies. The module also focuses on relevant reforms to the banking and insurance industries.
The module evaluates the role and function of domestic and global banks and their structure and operations. This is accompanied by a thorough examination of the risks that banks are exposed to, and the various ways to manage them.
Insurance Markets and Operations
The module examines the principles and practice of insurance and the operation of insurance companies in the life and non-life markets. It provides a solid understanding of all aspects of the nature and role of insurance, from basic principles through to industry practice.
International Risk Management
This module provides you with the fundamental ideas and tools for thinking about international risk management.
You will gain an overview of fundamental topics in the field of finance, including capital structure, corporate value, cost of capital, dividend policy, financial instruments, investment and modern portfolio theory.
Develop your knowledge and competence of the research process, and the application of research methods in the area of finance, banking or insurance.
An 8,000-10,000 word dissertation in the area of finance, banking or insurance.
Advanced Topics in Insurance
This module offers an in-depth analysis of selected specialist areas of insurance. It also offers an interactive, computer-based learning experience exploring the fundamental statistical techniques used in risk analysis and risk management.
Banking Risk and Operations
Acquire a thorough knowledge of domestic and global banks, structures and functions and gain a sound understanding of the risks that banks are exposed to, and the different techniques applied to manage them.
This module develops your theoretical understanding of financial derivatives markets. You will price and value financial derivatives from first principles and explore how financial derivative products can be used effectively in risk and investment management applications.
Financial Markets and Institutions
This module offers detailed coverage and analysis of global financial markets and institutions.
Fixed Income Analysis and Trading
This module provides the fundamental ideas and tools for thinking about traditional income securities.
Forecasting Markets and Risk Modelling
This module provides advanced ideas and applications of forecasting markets and risk modelling. These include forecasting, volatility forecasting, univariate and multivariate volatility modelling, risk measures, value at risk and advance risk modelling methods which are widely used on trading floors in the financial markets. The module includes extensive computer lab sessions to provide practical experience on using the different models on the trading floor.
International Financial Reporting
This module will develop your systematic understanding of the principles underlying, and policy issues inherent in, the study of international financial reporting, with particular reference to multinational groups.
Modern Portfolio Management
Develop your understanding of contemporary portfolio theory and investment management principles in order to actively manage a range of investment funds used by professional institutional investors and the private wealth management industry.
All students on our full-time business Masters courses can apply to undertake the PG/MBA Internship Programme Reflective Practitioner Module. This is an 8 week unpaid accredited internship, which can be taken in addition to option modules and will help students to gain invaluable work experience. The internships, which are with London-based organisations, take place during the summer period. To apply, students must submit a completed application form and a copy of their updated CV to the Business Experience Team; the team then shortlist from the applications and conduct group meetings with the applicants.
Ultimately it is up to our internship employers to decide whether they would like to interview the candidate(s) and offer him/her an internship. We have received very positive feedback from both postgraduate students and employers and expect that the internship programme will continue to remain popular amongst our students.
The majority of graduates will go into successful careers in the areas of finance, financial services, investment banking, retail banking, insurance, re-insurance and hedged funds as private client advisors and financial analysis both in the public and private sectors.
Additional costs information
To check what your tuition fees cover and what you may need to pay for separately, see our What tuition fees cover page.
As a graduate of Finance, Banking and Insurance MSc, you can look forward to excellent career prospects in the banking or insurance sectors or else within the general financial services sector. Your exposure to the Financial Markets Suite simulated financial trading facility will mean you will be equipped in both the theory and practice of finance.
Graduates from this programme have gone on to work for companies such as Citibank, Deloitte, HDFC Bank and Sberbank, among others.
All full-time postgraduate Westminster Business School students have the opportunity to apply for an eight week part-time, unpaid internship with local organisations, so as to further enhance their academic experience.
The internship counts as one 10 credit module (the PG/MBA Internship Programme Reflective Practitioner Module) and can be taken in addition to core and option modules. Our internships take place during the summer and are in various fields including marketing, project management, retail, marketing communications, finance, HR and the charity sector.
In order to apply, students must complete an application form (along with a copy of their updated CV) and submit this to the Business Experience Team (BET). Subsequently we then shortlist from the applications received and conduct group meetings with the students, which provides them with an opportunity to understand more about the internship programme and for the BET to better understand their internship aspirations.
Ultimately it is up to our internship employers to decide whether they would like to interview the candidate(s) and offer him/her an internship. We have received very positive feedback from both our postgraduate students and employers and expect that the Internship Programme will continue to remain popular amongst our students.
The Business Experience Team also offers full-time overseas postgraduate students the opportunity to take part in our Westminster Business School Mentoring Programme.
We will match students with a senior professional (mentor) from their field of expertise to give them an exact insight into British working practices and policies. Experienced professionals in any business field share their career experiences and knowledge with students who may wish to venture down a similar path in the near future.
Our mentors come from a wide range of backgrounds, including marketing, general management, finance and entrepreneurship. In addition, our mentors typically offer three hours of their time over a three month period to the mentee (student). In addition, to one-to-one meetings, students are encouraged to keep in touch with their mentor over email and telephone.
Our dedicated Career Development Centre is actively working with an ever-expanding network of over 3,000 employers to provide you with exceptional employability support and guidance. As a result we were nominated as finalists for a significant industry award – the NUE Awards Most Improved Commitment to Employability 2016.
We provide our students with work placements and international opportunities to support them in becoming highly employable, globally engaged graduates, and with one million businesses operating within 20 miles of the University of Westminster, over 84% of our students are in work or further study six months after graduation. Our graduates work in a variety of sectors and organisations, from small/medium-sized companies and start-ups to large not-for-profit organisations and corporates.
During your time at Westminster you will be able to use our comprehensive online vacancy service and meet with our experienced careers consultants, providing you with thorough training and support on CV writing, application forms, interview preparation and assessment centres.
In addition to this, you will receive careers support from academic staff and faculty work placement teams, offering targeted course-specific careers advice and assistance in securing a work placement during your time at Westminster. You can find out more about course-specific career opportunities by visiting the Prospects website.
For more details, visit the employability section on our site.
Career Development Centre
Our Career Development Centre can help and support you throughout your study and after graduation.
We can help you to:
- find part-time/vacation, placement and graduate jobs, including voluntary experience
- explore how to develop the skills that employers are looking for
- plan your career development
- identify your career options
- market yourself effectively in CVs, application forms and at interviews
- develop your enterprise skills
We also organise a range of presentations and networking events with employers, professional bodies, alumni and other organisations throughout the year to help you with career planning.
Find out more about the Career Development Centre.
Our Work Placement Teams are based in your Faculty Registry Office and can help you find a suitable placement, as well as support you in making applications, writing CVs and improving your interview technique.
More details on work placements can be found on our Work placements page.
Career options in your subject area
Our team of careers consultants work closely with Faculty departments to deliver tailored employability support, including subject-specific workshops, employer events and careers information, advice and guidance.
Study in the city
If you study at the University of Westminster, everything that London has to offer is on your doorstep.
Our central London campuses are ideally located for the city's fantastic learning institutions including libraries, archives and museums, as well as opportunities for shopping, eating out, enjoying London's nightlife or just simply relaxing.
After choosing your course, one of your biggest decisions will be where to live, and we aim to make that choice as easy as possible. Whether you want to apply for our Halls of Residence or live in private housing, we can help you to find the right accommodation.
Fees, funding, bursaries and scholarships
In recent years the University of Westminster's scholarship scheme has been the largest university scholarships scheme in the UK, and our Scholarships Department won the Times Higher Education inaugural Award for Outstanding Support for Overseas Students.
All students on courses of a year or more and who are registered for more than three modules will be allocated a personal tutor.
Your personal tutor will be there to support you from induction onwards, helping you to integrate into the University, academically and socially, at an early stage. They will be able to give you advice and support on academic and personal matters affecting your study, as well as developmental advice through regular individual and group tutorials.
Polylang is a University-wide programme through which you can study a language as a free choice module.
Personal advice and counselling
While most students overcome any problems with help from friends, family or a personal tutor, the University's free counselling and advice services are there if you need them.
With one of the UK's largest international student populations, the University of Westminster has plenty of experience in giving you the help and support you need to make the most of your time with us.
Study Abroad and Summer School programmes
Westminster's Study Abroad programme has been running for more than 15 years, and is one of the largest in the UK – each year we welcome hundreds of visiting students from universities all over the world.
If you are already studying outside the UK, the programme offers you the opportunity to study with us for one or two semesters, or for a period in the summer.
Sport and recreation
The University has extensive sport and recreation facilities, with a sports hall and gym at Harrow, a state-of-the-art gym at Regent Campus, and the University sports ground by the River Thames at Chiswick.
University of Westminster Students' Union (UWSU) aims to make sure you have the best university experience possible by providing a range of activities and support, from sports clubs to society groups, educational advice and social events.
Accounting, Finance and Economics - why Westminster?
In a bid to provide invaluable work experience to our full-time postgraduate business students we are giving you the opportunity to apply to undertake an 8-week unpaid accredited internship with a London organisation.