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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Bachelor of Science Honours in Quantitative Risk Management 
SAQA QUAL ID QUALIFICATION TITLE
116737  Bachelor of Science Honours in Quantitative Risk Management 
ORIGINATOR
North West University 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Honours Degree  Field 03 - Business, Commerce and Management Studies  Generic Management 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  120  Not Applicable  NQF Level 08  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Registered-data under construction  EXCO 0324/24  2024-07-01  2027-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2027-06-30   2029-06-30  

Registered-data under construction

The qualification content is currently being updated for the qualifications with the status “Registered-data under construction” or showing “DETAILS UNDER CONSTRUCTION” to ensure compliance with SAQA’S Policy and Criteria for the registration of qualifications and part-qualifications on the National Qualifications Framework (NQF) (As amended, 2022). These qualifications are re-registered until 30 June 2027 and can legitimately be offered by the institutions to which they are registered.

 

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

PURPOSE AND RATIONALE OF THE QUALIFICATION 
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. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Recognition of Prior Learning (RPL):
Where learners do not meet the minimum admission requirements, RPL may be used to grant access to the qualifications. RPL will be applied according to the national Recognition of Prior Learning, Credit Accumulation and Transfer, Assessment (CHE 2016) and the institution RPL policies. The process will be managed by the Faculty.

The Faculty will ensure that quality assurance processes that address the specificities of the RPL process (including applications, assessment, and reporting and management systems) are implemented; and that administrative and support systems, both prior and after RPL assessment, are in place. Learners will be assessed against NQF Level 7 competencies.

Entry Requirements:
The minimum entry requirement for this qualification is:
  • Bachelor of Science in Quantitative Risk Management, NQF Level 7.
    Or
  • A Relevant Qualification in the related field, NQF Level 7. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    This qualification consists of the following compulsory modules at National Qualifications Framework Level 8 totalling 148 Credits.

    Compulsory Modules, 148 Credits:
  • Quantitative Risk Analysis I, 16 Credits.
  • Quantitative Risk Analysis II, 16 Credits.
  • Financial Engineering, 16 Credits.
  • Investment Theory, 16 Credits.
  • Statistical Data-analysis I, 12 Credits.
  • Risk Management, 16 Credits.
  • Statistical Data-analysis II, 12 Credits.
  • Multivariate Statistics, 12 Credits.
  • Research Module: Financial Engineering and Financial Modelling, 32 Credits. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Demonstrate depth of knowledge and skills to solve practical risk management problems. These skills are further developed and enhanced in the Master's Degree.
    2. 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.
    3. Formulate and solve problems in bank risk management.
    4. Conduct and report research under supervision in the form of a discrete research component that is appropriate to the discipline or field of study. 

    ASSOCIATED ASSESSMENT CRITERIA 
    The following Associated Assessment Criteria will be applied in an integrated manner across the Exit Level Outcomes:
  • Implement his/her specialist knowledge to analyse and evaluate market risk and explain the modelling and management of market risk in financial institutions.
  • Develop/propose an integrated risk measurement (e.g. Value-at-Risk) framework by applying statistical methods and techniques.
  • Explain the concepts of risk classification and analyse and criticise 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 the results of both 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 his or her ideas and opinions in well-formed arguments, using appropriate academic, professional, or occupational discourse.
  • Track own learning progress and manage all resources successfully to realise 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.
  • Develop and communicate his or her ideas and opinions in well-formed arguments, using appropriate academic, professional, or occupational discourse.
  • Implement his/her specialist knowledge to analyse 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 optimisation 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 Optimisation e.g. Least Squares Monte Carlo, Finite Differences for pricing exotic options found in insurance, Simplex Method for linear programming and Branch-and- Work independently and be well prepared for all seminars.
  • Contribute to discussions during seminars and demonstrate knowledge of the relevant concepts and methods in various forms of assessment, by providing insight into - and solutions to - problems/questions with the correct use of terminology appropriate to the field of Financial Engineering and Optimisation.
  • Analyse and implement financial engineering and optimisation models in software packages (e.g. SAS/IML and MS Excel).

    Integrated Assessment:
    Formative assessment will be undertaken through projects, assignments, case studies and tests during the year in the modules. In some modules, formative assessment will include portfolios, practical evaluations and a research proposal.

    Learners will also write a summative and integrated exam (written and practical) and will submit a research report on discrete research that was conducted under supervision at the end of the year for summative assessment. 
    		•

    INTERNATIONAL COMPARABILITY 
    Country: Netherlands
    Institution: Vrije Universiteit Amsterdam
    Qualification Title: Duisenberg Honors Program in Quantitative Risk Management

    This qualification is similar to the Duisenberg Honors Program in Quantitative Risk Management offered by the above country in terms of the following:
    Both qualifications share a similar curriculum approach of providing learners not only quantitative econometric and mathematical skills but also the hands-on practical experience to be able to implement econometric models in the workplace.

    The programme structure of both qualifications includes similar themes like Financial Markets and Institutions, Quantitative Financial Risk Management. Both qualifications are offered in a course duration of 1-year full-time and articulate to a Master's Degree. However, whilst this qualification is a standalone Degree, the Duisenberg Honors Program in Quantitative Risk Management offered at the Vrije Universiteit Amsterdam is integrated with a master's component. Learners have a choice of undertaking intense research in the programme to graduate with a Master's Degree.

    Both qualifications require at least a Bachelor's Degree as a minimum requirement to gain admission in the programme. However, this qualification is unique for its extra focus on the South African context.

    Country: England
    Institution: City University of London
    Qualification Title: Bachelor of Science Honours in Investment and Financial Risk Management

    This qualification is similar to the Bachelor of Science Honours in Investment and Financial Risk Management in terms of the following:
    Both qualifications share a similar focus of equipping learners with the skills to move into these competitive jobs market of the global financial markets with confidence. Both qualifications provide detailed knowledge of how financial markets work, how companies make investment, financing and acquisition decisions and how modern banks operate.

    Both qualifications share similar themes ranging from managing global investment portfolios to asset trading. All within a broad sweep of rigorous academic learning encompassing equity markets, bond trading, risk management, derivatives, hedging, investment banking and many other broad areas of risk and investments. However, whilst this qualification is offered in the course duration of 1-year, the Bachelor of Science Honours in Investment and Financial Risk Management offered at the City University of London is offered in the course duration of 3-years. It integrates both the degree and the honours component. However, this qualification compares favourably with the Bachelor of Science Honours in Investment and Financial Risk Management although this qualification is unique by its special focus on the South African context. 

    ARTICULATION OPTIONS 
    This qualification allows possibilities for both vertical and horizontal articulation.

    Horizontal Articulation:
  • Bachelor of Science Honours in Business Analytics, NQF Level 8.
  • Bachelor of Science Honours in Mathematical Statistics, NQF Level 8.

    Vertical Articulation:
  • Master of Science in Business Mathematics and Informatics, NQF Level 9.
  • Master of Science in Mathematical Statistics, NQF Level 9. 
    		•

    MODERATION OPTIONS 
    N/A 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    NOTES 
    N/A 

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
     
    NONE 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. North West University 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.