The African Institute of Financial Markets and Risk Management (AIFMRM) offers the Master of Commerce in Risk Management of Financial Markets [CM036FTX17] in association with the Department of Finance and Tax.

The degree equips students with the necessary methodological, regulatory and research skills for financial market risk management. The requisite technical skills cover fundamental mathematics, statistics, econometrics, and computing.

The prescribed courses aim to instil the application of technical skills to modelling complex financial and economic concepts, thereby enhancing the understanding thereof. The qualification is intensive and challenging‚ and combines training in mathematical‚ statistical, econometric, and computing skills with a solid understanding of financial markets and risk management.

Graduates of this degree are well-equipped for careers in sophisticated areas of risk management in the financial services sector. They may also apply to pursue doctoral research within the broad fields of financial risk management or quantitative finance.

Career prospects

Our graduates are employed in risk management, consulting, quantitative analysis and trading in all areas of financial services.

Entrance requirements

There are limited places on the degree, and admission is based on merit. Entrance is at the discretion of the Admissions Committee, and meeting the minimum requirements does not guarantee entrance.

The minimum admissions requirements are:

  • An Engineering degree from any sub-discipline,


  • An NQF level 8 qualification with
    • At least 18 credits of Mathematics at NQF level 5 (MAM1010F at UCT)
    • At least 18 credits of Statistics at NQF level 5 (STA1000S at UCT)

Prescribed curriculum structure

The courses total 180 credits. All courses are compulsory.

The degree is offered over one year, full-time and begins in February. Submission of the last research component is in early December.

Course code and name
NQF credits HEQSF level
FTX5011W Risk Management Quantitative Modelling 45 8
FTX5013W Risk Management Markets 45 9
FTX5010S  Risk Management Governance  30 9
FTX5012W Risk Management Research  60 9

The application deadline is 30 September of the year preceding study.

Apply online: Please note that applicants must submit academic transcripts, a curriculum vitae and a letter of motivation.  

Although we cannot guarantee financial support, our graduates are in high demand, and numerous companies offer bursaries and scholarships for AIFMRM students. Application for these takes place after acceptance and are for South African citizens only

For more information on the courses, please refer to the Commerce Postgraduate Handbook.