Scottish Financial Risk Academy

The Scottish Financial Risk Academy (SFRA) was established in April 2010 with a £335,000 grant from the Scottish Funding Council following a competitive call for proposals for demand-led Knowledge Exchange (KE) projects involving Scottish universities and key sectors of the Scottish economy. The founder members of the SFRA, which included Aberdeen Asset Management, set out to create an Academy that would provide financial services companies with an efficient, streamlined framework for interacting with Academia on a regular basis.

The SFRA has three main streams of activities:

  • Knowledge-Exchange Events:
  • Student-Centred Activities:
  • Industry Taught Courses:

The SFRA seeks to provide an innovative example of how to manage Knowledge Exchange with the financial services sector and to help position Scotland's university sector internationally as a centre of excellence in financial risk education.


The academy is the brainchild of Heriot-Watt's Professor Alexander McNeil and his colleagues at the Maxwell Institute, a collaborative mathematics research institute combining the strengths of Heriot-Watt and the University of Edinburgh. It has the backing of the industry in Scotland and is in partnership with five key financial organisations; Aberdeen Asset Management, the Actuarial Profession in Scotland, Barrie & Hibbert, Lloyds Banking Group and Scottish Financial Enterprise.

For more information about the Scottish Financial Risk Academy, please visit