The Master of Science in Financial Risk Management will provide students with comprehensive, foundational knowledge of the current state of risk management issues, methodologies and challenges. This program is ideal for candidates who are just beginning their careers in finance, as well as for professionals who want to strengthen their knowledge and skills in this area. Recent college graduates who are planning for careers in finance will gain a solid grounding in all areas of financial risk management, and will be well prepared for entry-level positions in risk management in all types of financial institutions. Candidates who are more advanced in their careers will gain knowledge of current risk management tools, methodologies, and techniques, many of which have changed significantly in recent years following the financial crisis. The program also provides students the academic background needed for the professional certification tests of the leading professional financial risk management associations including the Financial Risk Manager (FRM) certification of the Global Association of Risk Professionals (GARP) and the Professional Risk Manager (PRM) certification of the Professional Risk Managers International Association (PRMIA).
MS in Financial Risk Management Program Learning Goals
| Knowledge of Quantitative Methods, Institutional Structures, and Risk Management Tools | Students will master foundational concepts of statistics, financial securities, and institutions, and be able to apply them to the core tools of risk management, including market, credit, investment, and operational risks. |
| Knowledge of Risk Management Practices And Implementation | Students will develop the technical and analytical skills needed to formulate and implement effective risk management systems in large, complex financial institutions. |
| Communication | Students will develop written and oral communication skills that will enable them to explain and convince others of their recommendations for risk management strategies. |
| Leadership | Students will be able to design enterprise risk management strategies that take into account a comprehensive evaluation of the firm’s overall risk exposures. |
| Global Awareness | Students will develop awareness of differences among businesses and institutions on a global basis, and analyze their implications for the hedging and risk management needs of multinational firms. |
| Ethical Awareness | Students will develop a deep understanding of ethical issues in all phases of risk management and be able to demonstrate their ability to anticipate and resolve ethical conflicts and choices. |
MS in Financial Risk Management Curriculum 30 - 39 Credits
| Course | Title | Credits |
Preliminary Courses (0-9 Credits) Students with appropriate academic background will be able to reduce the number of credits in preliminary requirements. | ||
| Firms in the Global Economy | 1.5 credits | |
| Fundamentals of Macroeconomics | 1.5 credits | |
| Introduction to Quantitative Tools for Finance | 3 credits | |
| Corporate Finance | 3 credits | |
| Required Courses (22.5 credits) | ||
| Business Communication I | 1.5 | |
| Econometrics - Theory and Applications I | 3 credits | |
| Investment Analysis | 3 credits | |
| Debt Instruments and Markets | 3 credits | |
| Options Markets | 3 credits | |
| Measurement and Management of Market Risk I | 1.5 credits | |
| Measurement and Management of Market Risk II | 1.5 credits | |
| Measurement and Management of Credit Risk I | 1.5 credits | |
| Measurement and Management of Credit Risk II | 1.5 credits | |
| Measurement and Management of Risks in Operations and Information Technology | 1.5 credits | |
| Measurement and Management of Risks in Investments | 1.5 credits | |
| Finance Elective Courses (7.5 Credits) Choose 1.5 - 7.5 credits from the list below: | ||
| Technical Analysis | 3 credits | |
| Mergers and Acquisitions | 3 credits | |
| Entrepreneurial Finance | 3 credits | |
| Intermediate Corporate Finance | 3 credits | |
| Futures and Forward Markets | 3 credits | |
| Management of Financial Institutions | 3 credits | |
| Financial Markets and Intermediaries | 3 credits | |
| International Financial Markets | 3 credits | |
| International Corporate Finance | 3 credits | |
| Equity Markets: Trading and Structure | 3 credits | |
| Seminar in Finance | 3 credits | |
| Advanced Corporate Finance | 3 credits | |
| Advanced Investment Analysis | 3 credits | |
| Classical Foundations of Financial Risk Management | 1.5 credits | |
| Implications of Corporate Governance, Regulation, and Ethics for Risk Management | 1.5 credits | |
| Debt Securities | 1.5 credits | |
| Futures and Forwards | 1.5 credits | |
| Options | 1.5 credits | |
| International Financial Markets | 1.5 credits | |
| Venture Capital | 1.5 credits | |
| Special Topics in Investments | 1.0 credit | |
| Special Topics in Investments | 1.5 credits | |
| Special Topics in Investments | 2 credits | |
| Special Topics in Investments | 3 credits | |
| Special Topics in Corporate Finance | 1.0 credit | |
| Special Topics in Corporate Finance | 1.5 credits | |
| Special Topics in Corporate Finance | 2 credits | |
| Special Topics in Corporate Finance | 3 credits | |
| Risk Management in Financial Institutions | 3 credits | |
| Money, Banking, and Monetary Policy | 3 credits | |
| Econometrics - Theory and Applications II | 3 credits | |
Business Elective Courses: Choose 0-6 credits from the list below: | ||
Financial Reporting | 3 credits | |
ACC 9810 | Current Topics in Financial Accounting | 3 credits |
Special Topics in Accountancy | 3 credits | |
Principles of Fintech | 3 credits | |
Real Estate Finance | 3 credits | |
Real Estate Capital Markets | 3 credits | |
| BUS 9801, 9802, 9803 or BUS 9811, 9812, 9813 | Graduate Internship I, II, III (in FIN) | 1-3 credits |
| *The maximum number of business electives and transferred credits for specialization courses is six. | ||