Bachelor of Science Honours in Quantitative Risk Management
Business, Commerce and Management Studies - Generic Management
Purpose and Rationale
Bachelor of Science Honours in Quantitative Risk Management
Purpose
The purpose of the Bachelor of Science Honours in Quantitative Risk Management is to prepare learners for research-based postgraduate study. It serves to deepen learners' expertise in the field of Quantitative Risk Management, and to develop research capacity in the methodology and techniques of the field of Quantitative Risk Management. The qualification demands a high level of theoretical engagement and intellectual independence.
Rationale
The qualification is intended to provide the country with qualifying learners who have specialised knowledge in Quantitative Risk Management and can, therefore, serve the country in a variety of important ways, in both the public and private sectors. Qualifying learners will be prepared for specific occupational possibilities as qualified risk managers by obtaining knowledge and skills, as well as research abilities to examine and solve problems related to the discipline. This qualification prepares learners for research-based post-graduate studies at Level 9.
Outcomes
- Demonstrate depth of knowledge and skills to solve practical risk management problems. These skills are further developed and enhanced in the Master's Degree.
- Formulate and solve problems using market and credit risk analysis, econometric and statistical time series, basic investment management principles, statistical analysis and financial engineering methodologies, models and techniques.
- Formulate and solve problems in bank risk management.
- Conduct and report research under supervision in the form of a discrete research component that is appropriate to the discipline or field of study.
Assessment Criteria
The following Associated Assessment Criteria will be applied in an integrated manner across the Exit Level Outcomes:
- Implement specialist knowledge to analyze and evaluate market risk, and explain the modeling and management of market risk in financial institutions.
- Develop/propose an integrated risk measurement framework (e.g. Value-at-Risk) by applying statistical methods and techniques.
- Explain the concepts of risk classification and analyze and criticize risk measurement concepts in financial risk management.
- Describe the relationship between systematic risk, non-systematic or specific risk, and concentration of risk.
- Describe the properties and limitations of common risk measures and recommend a specific choice of model based on quantitative and qualitative analysis of financial or insurance data.
- Formulate valuation problems in mathematical forms using appropriate notation.
- Critically evaluate modern financial theories and select the appropriate instruments for different risk management applications.
- Price simple derivative securities, using appropriate software if applicable.
- Develop and communicate ideas and opinions in well-formed arguments, using appropriate academic, professional, or occupational discourse.
- Track own learning progress and manage all resources successfully to realize all outcomes of the module.
- Discuss and develop portfolio investment strategies working individually or in groups.
- Think independently and solve complex portfolio choice problems, select assets, and manage portfolios.
- Analyse and critically evaluate the performance of an investment manager.
- Develop solutions to corporate, risk, and investment management problems.
- Implement specialist knowledge to analyze and evaluate financial instruments.
- Conduct and write a report regarding the current academic discourse on a specified financial instrument.
- Describe, formulate, apply, and critically examine a range of financial optimization models, its assessment and selection, and the solution techniques associated with these models.
- Explain the relationship between a volatility smile and the risk-neutral probability measure used in binomial pricing.
- Explain the concepts of numerical methods used in Financial Engineering and Optimization.
- Analyse and implement financial engineering and optimization models in software packages (e.g. SAS/IML and MS Excel).
Integrated Assessment:
- Formative assessment through projects, assignments, case studies, and tests during the year.
- Formative assessment may include portfolios, practical evaluations, and a research proposal.
- Summative and integrated exam (written and practical) will be conducted.
- Submission of a research report on discrete research conducted under supervision for summative assessment.
By following these criteria, learners will demonstrate proficiency in financial engineering and optimization, risk management, and analytical skills in the field of finance.
Qualification Details
- Type
- Honours Degree
- NQF Level
- 08
- Min. Credits
- 120
- SAQA Source
- More Information
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