An Introduction to M.Sc. Financial Compliance
Compliance in the financial world is important for providing stability and preventing organisations from going bankrupt. It also helps businesses tackle various financial risks and credit. All major businesses have a compliance division that helps them regulate themselves. Financial compliance is one of the upcoming areas in the finance domain that has been gaining a lot of significance recently. Pursuing a career in financial compliance is monetarily rewarding and can help you stay up-to-date with the latest rules and regulations in the financial world. If you want to study abroad and haven’t decided on a course, a degree in financial compliance is a good choice. The financial compliance from GISMA provides you with skills required for analysing the rules and regulations in place and the businesses’ compliance to them. You gain a better understanding of the threats and risks of improper compliance and the strategies to ensure proper compliance. With this degree, you can make an impact in the compliance domain.
  • The M.Sc. Financial Compliance lasts for a year. The entire course is divided into three segments—two semesters and the summer in between for the preparation and submission of the dissertation. You have to study four modules worth 30 credits each, over two semesters and complete a dissertation worth 60 credits.

    The coursework also allows for three workshop contact hours per week to promote group interaction and networking among the students.

  • To enrol in the master’s programme, students need to fulfil the following conditions.

    • A UK Bachelor’s degree or any equivalent qualification

    • An English language level certification equivalent to IELTS level 6.5 with a score equal or more than 5.5 in each section.

    • Equivalent work experience in case of no bachelor’s degree.

    If you have a qualification that you think merits an exemption to the criteria, a non-standard application criteria is also available.  Applicants without a bachelor’s degree can also apply if they have at least five years’ managerial experience. Please talk to an advisor for more information.

  • The syllabus of the course is designed to provide a holistic view of the various regulations governing financial compliance. The main focus of the syllabus is on the role of financial compliance in combating the various risks to financial institutions. The course consists of the following core modules.
    1. Fundamentals of securities and investments: This module focuses on various compliance products, primary and secondary markets for securities, stock markets, OTC transactions, and a detailed overview of investment banking. The modules teaches students to understand the basic characteristics of common stock and comprehend stock quotations. They also learn to identify the types of preferred stocks and various equity linked products.
    2. Global financial compliance: This module provides you with a comprehensive knowledge of the compliance issues in the financial sector. You learn techniques that must be implemented to ensure compliance with the standard protocol set by various regulatory authorities. The module also deals with the international regulatory bodies, risks of financial crimes, risk management, and compliance with ethics and integrity.
    3. Risk management and compliance functions under Basel III: Basel III is an international regulatory agreement that introduces reforms to improve the regulation, supervision and compliance within the banking sector. The Basel committee on banking supervision introduced the first version of the agreement in 2009.This module deals with all the important components of the agreement, and its effect on the financial sector. It also focuses on the various risk management strategies to implement as a part of compliance with Basel III.
    4. Financial crime, AML, and cyber-security: This module deals with the financial crimes and risks involved with various financial operations. The module especially focuses on anti-money laundering systems and cyber-security measures.
    In addition to these modules, you also need to present a well-researched dissertation on any compliance issue and provide a unique solution for the problem.
  • The students are tested as per different methods to examine their progress in the modules. The formative assessment includes feedback from seminars, workshops, grade sheets, tests, and practical. The summative assessment takes into account all the individual and group projects, individual and project assignments, and the dissertation

  • The tuition fee for the course is fixed at € 19,250 for a year which roughly amounts to 15, 27,631 per year. GISMA offers flexible payment options and allow students to spread out the cost of the programme across three instalments as given below.
    1. Instalment 1: € 5,750 (₹4,56,305)
    2. Instalment 2: € 5,750 (₹4,56,305)
    3. Instalment 3: € 5,750 (₹4,56,305)
    An additional deposit of € 2,000 (₹ 1, 58,762) is required at the beginning of the course, during the enrolment resources. Students get the flexibility to spread out the instalments as they prefer, so long they remain in line with the payment deadlines.
    There are accommodation options available for international students as well.
    In case of any query regarding the course fees, you can contact a programme advisor for more details.

Who should opt for M.Sc. Financial Compliance?

This degree is ideal for you if you are interested in learning more about financial compliance and want to pursue a degree in that domain. It is also a good choice for those who want to switch domains in the financial sector, and are looking for a stream that is financially rewarding.

Why should you opt for M.Sc. Financial Compliance?

There are several advantages of pursuing this course that are mentioned below.

  1. The course is extremely interactive with a focus on compliance issues in the real world. You get plenty of internship opportunities which allow you to apply your learning in the real world. The classroom teachings are supported by online resources and case studies.

  2. The course yields necessary skills that help you tackle issues of global risk management, global audits, compliance coordination, and ethics at your workplace. You are trained to handle any sort of compliance issue of any severity.

  3. You develop a solid foundation of financial compliance, which can complement your doctoral studies in the subject, should you wish to a PhD.

  4. GISMA offers you opportunities to build strategic relationships with local companies and other students at the university.

Scope and future of the course

Compliance is a growing field that offers a lot of career scope. Many companies require qualified people to work for their compliance divisions. This degree equips you with all the skills required to make it big in the compliance domain.

Since compliance doesn’t have a set criteria for work experience, you can also pursue a career in allied fields such as risk management and securities trading. The course adds transferable skills that are useful for other domains as well.

Career prospects after pursuing the course

A multitude of compliance positions are available in various industries, but their roles and responsibilities are often similar. Any compliance role requires an in-depth knowledge of current regulations, best practices, and ethical standards for a particular industry. The job also demands rigorous interpretation and implementation of ethics and standard procedures.

The various compliance roles include:

  1. Investment managers: They helps in risk analysis and management in the field of investment banking, securities management, and securities trading.

  2. Financial regulators: They are usually hired by banks to standardise the regulations in the banking industry and are responsible for formulating and implementing them within the bank.

  3. Compliance officers: The primary responsibility of a compliance officer is to ensure that the organisation is running legally and ethically, and complying with all the relevant regulations of the industry.

  4. Risk managers: Risk managers identify, measure, and evaluate different types of risks that could affect the organisation. They are responsible for formulating strategies and regulations that can mitigate or minimise the risks.

  5. Financial compliance consultants: They are freelancers who are hired by corporations to analyse and advise on the best practices and regulations governing the operations of all the departments of the company.

  6. Administrative consultants: These consultants provide administrative support and guidance to efficiently run a company. They also formulate administrative policies for better efficiency across departments.

Apart from mainstream compliance roles, you can also opt for related job roles in domains associated with compliance. A few interesting career positions include paralegal business consultants, customer services consultant, financial analysts, and administration executives.