financial risk management phd

PhD in Risk Management and Insurance

Program Overview

The PhD in Business Administration with a focus on Risk Management and Insurance (RMI) is designed to help students develop an understanding of both theoretical and applied aspects of insurance, risk management and employee benefits. The Terry College provides an excellent opportunity for those interested in pursuing a PhD in risk management and insurance. Some of the benefits of the Terry College include:

• Consistently highly ranked, the UGA RMI program is currently the top-ranked program in the country by U.S. News & World Report.
• A recent global study ranked the UGA RMI program among the top 10 universities in the world – and second among public universities — for the impact of its risk management and insurance research.
• Faculty members are among the top publishers in the premier risk management and insurance journal, the Journal of Risk and Insurance . View our departmental directory for a complete list of the faculty .
• RMI faculty have received numerous research awards from the Journal of Risk and Insurance , Risk Management and Insurance Review , Journal of Insurance Issues , the Journal of Insurance Regulation and others.

• Professor , Risk Management and Insurance Program

Preferred deadline: January 4

Applications after January 4 will also be considered until spots are filled

Prerequisites

Math courses.

• Calculus : Differential and integral
• Linear Algebra : A course elementary linear algebra is strongly recommended before taking doctoral level (8000 and 9000) courses.

Typical Course Sequence

• Years 2 and 3
• RMIN 7100 : Fundamentals of Risk Management
• RMIN 9450 / 9550 : Risk Management Seminar
• ECON 8000 : Math for Economics (taken in Summer leading to Fall Semester)
• ECON 8010 : Microeconomic Theory I
• ECON 8070 : Stats for Econometrics
• RMIN 7120 : Corporate Risk Management
• ECON 8080 : Intro to Econometrics
• ECON/STAT/FINA Elective
• RMIN 9000 : Doctoral Research
• ECON 8120 : Econometrics II
• FINA 9200 : Corporate Finance Theory
• ECON 8110 : Econometrics I
• Preliminary Exams

Graduates of the risk management and insurance program currently teach in leading risk management and insurance programs across the country including:

• Saul Adelman (1980 Graduate; Associate Professor of Finance at Miami University)
• David Cather (1985 Graduate; Clinical Professor of Risk Management at Penn State University)
• Robert Puelz (1990 Graduate; Dexter Trustee Professor of Risk Management at Southern Methodist University)
• Brenda Wells (1992 Graduate; Associate Professor and Director, Risk Management and Insurance Program at East Carolina University)
• Lee Colquitt (1995 Graduate; Professor and Chair, Department of Finance at Auburn University)
• William Ferguson (1995 Graduate; G. Frank Purvis, Jr./BORSF Eminent Scholar Endowed Chair in Insurance and Risk Management at the University of Louisiana at Lafayette)
• Randy Dumm (1998 Graduate; Professor of Research at Temple University)
• Tim Query (1999 Graduate; Mountain States Insurance Group Endowed Chair Holder and Associate Professor of Finance at New Mexico State University)
• Kathleen McCullough (2000 Graduate; State Farm Insurance Professor of Risk Management and Insurance and Associate Dean for Academic Affairs and Research at Florida State University)
• Lars Powell (2002 Graduate; Director of the Alabama Center for Insurance Information and Research at the University of Alabama)
• Ryan Lee (2001 Graduate; Initial Placement—University of Calgary)
• Cassandra Cole (2002 Graduate; Robert L. Atkins Professor in Risk Management and Insurance and Department Chair at Florida State University)
• Andre Liebenberg (2004 Graduate; Robertson Chair of Insurance and Associate Professor of Finance at the University of Mississippi)
• Enya He (2006 Graduate; Regional Director for Lloyd’s South Central U.S. Region)
• Joseph Ruhland (2006 Graduate; Chair and Associate Professor of Risk Management and Insurance at Georgia Southern University)
• Steve Miller (2010 Graduate; Associate Professor and Director, School of Risk Management and Insurance at University of South Florida)
• Leon Chen (2011 Graduate; Professor of Finance at Minnesota State University-Mankato)
• Jianren Xu (2014 Graduate; Assistant Professor of Finance at University of North Texas)
• In Jung Song (2016 Graduate; Hankuk University of Foreign Studies)
• Evan Eastman (2017 Graduate; Florida State University)
• Joshua Frederick (2019 Graduate; Ball State University)
• Jiyeon Yun (2019 Graduate; California State University-Northridge)
• Polin Wang (2020 Graduate; University of South Florida)

Departments and Program Offices

• PhD Program Office
• Risk Management and Insurance Program

UGA Resources

• Graduate School
• Financial Aid

Additional Information

• Current PhDs
• Faculty Research

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Earn your MBA and SM in engineering with this transformative two-year program.

Combine an international MBA with a deep dive into management science. A special opportunity for partner and affiliate schools only.

A doctoral program that produces outstanding scholars who are leading in their fields of research.

Bring a business perspective to your technical and quantitative expertise with a bachelor’s degree in management, business analytics, or finance.

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PhD Program

Program overview.

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Rigorous, discipline-based research is the hallmark of the MIT Sloan PhD Program. The program is committed to educating scholars who will lead in their fields of research—those with outstanding intellectual skills who will carry forward productive research on the complex organizational, financial, and technological issues that characterize an increasingly competitive and challenging business world.

Start here.

Learn more about the program, how to apply, and find answers to common questions.

Admissions Events

Check out our event schedule, and learn when you can chat with us in person or online.

Start Your Application

Visit this section to find important admissions deadlines, along with a link to our application.

Click here for answers to many of the most frequently asked questions.

PhD studies at MIT Sloan are intense and individual in nature, demanding a great deal of time, initiative, and discipline from every candidate. But the rewards of such rigor are tremendous:  MIT Sloan PhD graduates go on to teach and conduct research at the world's most prestigious universities.

PhD Program curriculum at MIT Sloan is organized under the following three academic areas: Behavior & Policy Sciences; Economics, Finance & Accounting; and Management Science. Our nine research groups correspond with one of the academic areas, as noted below.

MIT Sloan PhD Research Groups

Behavioral & policy sciences.

Economic Sociology

Institute for Work & Employment Research

Organization Studies

Technological Innovation, Entrepreneurship & Strategic Management

Economics, Finance & Accounting

Accounting  

Management Science

Information Technology

System Dynamics  

Those interested in a PhD in Operations Research should visit the Operations Research Center .  

PhD Program Structure

Additional information including coursework and thesis requirements.

MIT Sloan Predoctoral Opportunities

MIT Sloan is eager to provide a diverse group of talented students with early-career exposure to research techniques as well as support in considering research career paths.

Rising Scholars Conference

The fourth annual Rising Scholars Conference on October 25 and 26 gathers diverse PhD students from across the country to present their research.

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The goal of the MIT Sloan PhD Program's admissions process is to select a small number of people who are most likely to successfully complete our rigorous and demanding program and then thrive in academic research careers. The admission selection process is highly competitive; we aim for a class size of nineteen students, admitted from a pool of hundreds of applicants.

What We Seek

• Outstanding intellectual ability
• Excellent academic records
• Previous work in disciplines related to the intended area of concentration
• Strong commitment to a career in research

MIT Sloan PhD Program Admissions Requirements Common Questions

Dates and Deadlines

Admissions for 2024 is closed. The next opportunity to apply will be for 2025 admission. The 2025 application will open in September 2024. 

More information on program requirements and application components

Students in good academic standing in our program receive a funding package that includes tuition, medical insurance, and a fellowship stipend and/or TA/RA salary. We also provide a new laptop computer and a conference travel/research budget.

Funding Information

Throughout the year, we organize events that give you a chance to learn more about the program and determine if a PhD in Management is right for you.

PhD Program Events

May phd program overview.

During this webinar, you will hear from the PhD Program team and have the chance to ask questions about the application and admissions process.

June PhD Program Overview

July phd program overview, august phd program overview.

Complete PhD Admissions Event Calendar

Unlike formulaic approaches to training scholars, the PhD Program at MIT Sloan allows students to choose their own adventure and develop a unique scholarly identity. This can be daunting, but students are given a wide range of support along the way - most notably having access to world class faculty and coursework both at MIT and in the broader academic community around Boston.

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Profiles of our current students

MIT Sloan produces top-notch PhDs in management. Immersed in MIT Sloan's distinctive culture, upcoming graduates are poised to innovate in management research and education.

Academic Job Market

Doctoral candidates on the current academic market

Academic Placements

Graduates of the MIT Sloan PhD Program are researching and teaching at top schools around the world.

view recent placements 

MIT Sloan Experience

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The PhD Program is integral to the research of MIT Sloan's world-class faculty. With a reputation as risk-takers who are unafraid to embrace the unconventional, they are engaged in exciting disciplinary and interdisciplinary research that often includes PhD students as key team members.

Research centers across MIT Sloan and MIT provide a rich setting for collaboration and exploration. In addition to exposure to the faculty, PhD students also learn from one another in a creative, supportive research community.

Throughout MIT Sloan's history, our professors have devised theories and fields of study that have had a profound impact on management theory and practice.

From Douglas McGregor's Theory X/Theory Y distinction to Nobel-recognized breakthroughs in finance by Franco Modigliani and in option pricing by Robert Merton and Myron Scholes, MIT Sloan's faculty have been unmatched innovators.

This legacy of innovative thinking and dedication to research impacts every faculty member and filters down to the students who work beside them.

Faculty Links

• Accounting Faculty
• Economic Sociology Faculty
• Finance Faculty
• Information Technology Faculty
• Institute for Work and Employment Research (IWER) Faculty
• Marketing Faculty
• Organization Studies Faculty
• System Dynamics Faculty
• Technological Innovation, Entrepreneurship, and Strategic Management (TIES) Faculty

Student Research

“MIT Sloan PhD training is a transformative experience. The heart of the process is the student’s transition from being a consumer of knowledge to being a producer of knowledge. This involves learning to ask precise, tractable questions and addressing them with creativity and rigor. Hard work is required, but the reward is the incomparable exhilaration one feels from having solved a puzzle that had bedeviled the sharpest minds in the world!” -Ezra Zuckerman Sivan Alvin J. Siteman (1948) Professor of Entrepreneurship

Sample Dissertation Abstracts - These sample Dissertation Abstracts provide examples of the work that our students have chosen to study while in the MIT Sloan PhD Program.

We believe that our doctoral program is the heart of MIT Sloan's research community and that it develops some of the best management researchers in the world. At our annual Doctoral Research Forum, we celebrate the great research that our doctoral students do, and the research community that supports that development process.

The videos of their presentations below showcase the work of our students and will give you insight into the topics they choose to research in the program.

How Should We Measure the Digital Economy?

2020 PhD Doctoral Research Forum Winner - Avinash Collis

Watch more MIT Sloan PhD Program  Doctoral Forum Videos

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2024 Best Online PhD in Risk Management [Doctorate Guide]

Analytical individuals with a passion for research might consider pursuing a PhD in Risk Management.

Risk management professionals can shape the way a company handles risk assessment and manages threats to their operation. A doctoral degree can set you apart from the crowd, signaling that you have research skills and expert knowledge of the industry.

Editorial Listing ShortCode:

Many people who obtain their Ph.D. in Risk Management choose to work in a variety of business or finance roles.

Universities Offering Online Doctorate in Risk Management Degree Program

Methodology: The following school list is in alphabetical order. To be included, a college or university must be regionally accredited and offer degree programs online or in a hybrid format.

Capella University

At Capella University, the online Doctor of Information Technology program is designed to help students acquire the knowledge and skills needed to excel as leaders in the IT industry. The program’s 13 courses and 2 virtual residencies can be completed at a student’s own pace. The curriculum covers topics like complex adaptive systems, system security, and project and risk management.

Capella University is accredited by the Higher Learning Commission.

Capitol Technology University

The courses for the Doctor of Philosophy in Occupational Risk Management at Capitol Technology University are taught by industry leaders and academic experts. The curriculum is built on key concepts in the growing safety and occupational construction field and the direct application of these concepts. The program consists of 60 credits and can be completed fully online.

Capitol Technology University is accredited by the Commission on Higher Education of the Middle States Association of Universities and Schools.

Liberty University

Liberty University offers a PhD in Organization and Management with an emphasis in Entrepreneurship. The curriculum is designed to teach strategic business concepts focused on organizational growth and advanced entrepreneurship. The program aims to help students step into dynamic leadership roles after graduation. Students can typically complete the 60 credit, online program in about 3 academic years.

Liberty University is accredited by the Southern Association of Colleges and Schools Commission on Colleges.

St. Thomas University

St. Thomas University offers a Doctor of Business Administration in Cyber Security Management. Graduates of the program often secure positions as chief information security officers, directors of financial systems, and high-level IT managers. This online, 60 credit program culminates in a final project. Students can choose between a traditional dissertation, an article dissertation, or action-based research.

St. Thomas University  is accredited by the Southern Association of Colleges and Schools Commission on Colleges.

University of the Cumberlands

The University of the Cumberlands offers a Doctor of Philosophy in Information Technology. Students in the program can specialize in one of four specialties: Information Systems Security, Information Technology, Digital Forensics, or Blockchain. The program requires the completion of 60 credits. The curriculum covers topics like robotics, programming, machine learning, network technology, and information security.

The University of the Cumberlands is accredited by the Southern Association of Colleges and Schools Commission on Colleges.

Online PhD in Risk Management Programs

All organizations face risks to their operations, such as security breaches, theft, or a fluctuating market. Risk management plays a key part in protecting business by recognizing, addressing, and controlling potential threats.

Doctoral programs in risk management cover subjects in a range of fields, including finance, law, and economics. It’s also beneficial to have a strong understanding of advanced econometrics concepts, as these are used to create and analyze risk models.

A risk management doctoral program will likely include courses topics similar to those listed below:

• Regulatory and legal risk
• Organizational risk
• Econometrics
• Probability theory
• Applied regression methods
• Limited dependent variables
• Doctoral research

You can also choose to specialize in a particular area of risk management. This can be the topic that you choose to focus your research on as well. Risk management specialties can include:

• Financial intermediaries
• Risk and crisis management

A doctorate in risk management can help prepare you for leadership or research roles in the field. Risk management positions include:

• Risk management director
• Market research analyst
• Quantitative risk analyst
• Business analyst
• Claims adjuster

There are many benefits to a career in risk management, including the opportunity to work for a variety of companies. Some professionals also travel for work.

While pursuing your PhD in Risk Management, you can learn how to quantify risks and can enhance your financial knowledge and analytical skills. With experience, these abilities may help you qualify you for career advancements in the risk management industry.

Risk Management Careers & Salaries

Much like with a masters in risk management , earning a PhD in Risk Management can open up professional opportunities in finance, economics, and education.

A typical curriculum in a risk management program consists of courses in finance theory, econometrics, and research. Having a firm foundation in these areas can help you qualify for positions at a variety of companies. According to the Bureau of Labor Statistics , experts in risk management may pursue the following career paths.

Many of the careers connected to risk management and insurance offer higher than average median salaries. Earning a doctorate may also increase your earning potential, though a certain pay range is not guaranteed to graduates.

When it comes to finding a job, there are a number of determining factors, such as your prior work experience, your specialized skill sets, and your geographic location.

Risk Management PhD Curriculum & Courses

The curriculum for a risk management doctoral program can change based on several factors, such as specialization or school, but you’ll likely take some courses similar to the following:

• Regulatory and Legal Risk : This course focuses on managing risk in a business setting, covering topics like managing operational and legal risks.
• Operational Risk : In this class, you’ll develop an understanding of the concepts included in a risk framework, exploring subjects such as fraud and security breaches.
• Econometrics : Designed to ready students for empiric economic work, this course explores a range of topics, including data analysis, testing, and forecasting.
• Probability Theory : This course is concerned with modeling events with uncertain results, spanning topics from conditional probability to distribution theory.
• Applied Regression Methods : This course is a study of regression models, and your lessons will include analysis of variance and covariance, along with case studies and examples.
• Limited Dependent Variables : This course focuses on specific regression models that involve dependent variables.
• Doctoral Research : You’ll have the opportunity to develop and strengthen your research skills as well as begin the process of putting together your dissertation.
• Corporate Finance Theory : In this course, you’ll study key topics in corporate finance theory, including asset pricing models and capital budgeting.
• Market Microstructure : This course explores the ways in which the interactions of traders impact pricing, and it focuses on areas such as strategic trading, market fragmentation, and liquidity.
• Risk Management Fundamentals : You’ll learn the fundamentals of risk management, including risk maturity and action, monitoring, and identification techniques.

As you apply to doctoral programs, you can read through each curriculum to ensure that it provides learning opportunities that match your interests and career goals.

Admissions Requirements

As you begin applying to doctoral risk management programs, you’ll likely notice some similarities in the application materials between schools.

Many colleges and universities will ask for the following:

• GRE or GMAT test scores (only some schools require them)
• Personal statement
• Letters of recommendation
• Official college transcripts

Because a doctorate is the highest-level degree, it is beneficial for your transcripts to reflect a strong academic performance during your undergraduate and graduate school years.

Accreditation

Have you ever wondered how employers and the general public know whether a college program is up to standard? The answer lies in the accreditation process .

Regional accreditation is a process that schools can elect to undergo in order to prove that they offer high-quality educational programs and student services. Accrediting agencies ensure that a school’s faculty is experienced and that its curriculum covers the necessary information for each subject area. Colleges and universities are also motivated to continuously improve their programs in order to maintain their accreditation status.

Financial Aid and Scholarships

Financial aid generally operates on an as-needed basis, providing monetary support for the families and individuals that need it most. There are a number of scholarships opportunities, though, that are based on other criteria, such as academic merit, field of study, and more.

To see how much financial aid you can receive from the government, you can fill out the Free Application for Federal Student Aid (FAFSA) . In addition to federal aid, you can apply for grants, loans, tuition reimbursement programs, or scholarships. These options will all look different depending on your location, personal financial history, and employer.

There are also financial aid options that are specific to certain family situations, such as aid for military families or international students.

What Can You Do with a Doctorate Degree in Risk Management?

A doctorate in risk management can lead to a number of lucrative and growing careers. Many risk management graduates go on to accept roles as financial managers, actuaries, or market research analysts.

Professionals in this sector combine their financial and regulation knowledge with their management and communication skills to help companies identify and manage potential risks. A doctoral program can also help you become well-versed in current research methods and tools. Professionals with a PhD often work in academia, typically as postsecondary teachers or researchers.

How Long Does It Take to Get a PhD in Risk Management Online?

A PhD is considered the highest degree one can earn, and a doctorate generally takes 3 to 5 years to complete with full-time enrollment.

How long it takes you to complete your online management degree can depend on the number of credit hours required by your program and the time it takes you to finish your dissertation. If there is no dissertation requirement in a doctoral program, it can generally be completed in 3 years with full-time study.

What’s the Difference Between a DBA vs. PhD in Risk Management?

A Doctor of Business Administration (DBA) and a Doctor of Philosophy (PhD) in Risk Management are both advanced degrees. A DBA is a professional doctorate, though, while a PhD is a research-based degree.

The doctoral path that’s right for you will likely depend on your professional goals.

Is a PhD in Risk Management Degree Worth It?

Yes, a PhD in Risk Management is worth it for many students. Many risk management careers are experiencing employment growth at a rate higher than the national average. For instance, postsecondary teachers, financial managers, and actuaries are expected to see 12%, 17%, and 24% job growth, respectively, over the next ten years (Bureau of Labor Statistics).

Additionally, risk management professionals have an impact on the security of the companies they work for, making them an essential part of an organization’s team. Not only do they identify potential risks, but they can work to eliminate future risks as well.

Getting Your PhD in Risk Management Online

Strong communication, financial acumen, and analytical skills are all essential for success in the field of risk management.

Earning your doctoral degree in risk management can help you improve and hone these skills while you study industry-specific knowledge and conduct original research. A doctoral degree can also help you advance your professional qualifications.

Just as they do with online masters in negotiation , a growing number of regionally accredited universities now offer risk management PhD programs both on campus and online. If you’re ready to enhance your expertise in this lucrative field, you can start exploring risk management doctoral programs today!

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Florida State University

FSU | College of Business

College of Business

Ph.d. in business administration with a major in risk management and insurance,    request information,    deadline to apply.

Begin your application today by entering the Graduate Admissions Portal .

Submit your application by: January 15  –  Application review begins  and will continue until positions are filled. March 1 – Application submission deadline. All supporting materials must be received by March 15.

  Contact Us

• Contact  Dr. Patricia Born , program director, for more information on the RMI major, its content and curriculum.
• Email Elizabeth Kistner , Ph.D. graduate advising director, for more information about the admissions process.

Graduate Programs Office   850-644-6458   877-587-5540 (toll free)   [email protected]

Join us for a virtual info session at 5:30 p.m., Wednesday, April 3!

Risk Management and Insurance  is one of seven majors offered through FSU’s College of Business’ Ph.D. in Business Administration. Housed in the Dr. William T. Hold/The National Alliance Program in Risk Management and Insurance , the RMI major admits one candidate each fall (on average), and the program takes four to five years to complete.

• Offers faculty with research expertise in insurer operations, insurance market performance and regulation, catastrophe risk management and the economics of risk and uncertainty
• Includes primary courses covering the fundamentals of risk management/insurance and research courses in mathematical economics and applied quantitative methods
• Encourages support area studies in finance econometrics, real estate and statistics
• Includes two to three years of coursework culminating in a comprehensive exam, followed by two years of research and teaching, culminating with a dissertation

For an overview of FSU’s Ph.D. in Business Administration and its seven majors, download the brochure .

   Student Accomplishments

East Carolina University; University of Akron; University of Connecticut; Illinois State University; Troy University

Courtney Bass,  2013-14 Spencer Educational Foundation Pre-Dissertation Award Jill Bisco,  Best Student Paper Award, Southern Risk and Insurance Association Annual Meeting Dana Telljohann , 2022 Spencer Scholarship award recipient

Defended Dissertation

• "Value and Strategy: An Analysis of the Surplus Line Insurance Market" by  Courtney Bass Baggett ; Dr. Cassandra Cole, major professor
• “The Role of Asymmetric Information in the U.S. Health Insurance Market,” by E. Tice Sirmans ; Dr. Patricia Born, major professor

  Program Requirements

The RMI doctoral program emphasizes current research topics in Risk Management, Insurance Operations and Performance, Insurance Regulation, and Risk Theory. In addition, students are taught a variety of theoretical and empirical research methods and tools using statistics, econometrics, and mathematical economics.

Prerequisites

All Risk Management and Insurance Doctoral students must have completed undergraduate level courses in Calculus I, Calculus II, and Linear Algebra.

Major  Requirements

All RMI doctoral students must complete courses in three areas: Tools for Analytical Research (TAR), Primary RMI and Support.

I. Tools for Analytical Research (TAR) Area

Students must take the following three courses:

• ECO 5403 Static Optimization
• ECO 5416 Econometrics I
• ECO 5423 Econometric Theory

Students must also take three additional quantitative courses in Statistics, or Economics numbered 5000 and above with the approval of the doctoral program adviser. Examples include:

• ECO 5424 Econometrics/Panel Data
• ECO 5427 Limited Dependent Variables
• STA 5440 Probability Theory
• STA 5206 Analysis of Variance
• STA 5207 Applied Regression Methods

RMI doctoral students are expected to have or acquire computer literacy through coursework or self-study

II. Primary RMI Coursework

The primary area courses and seminars provide opportunities for in-depth study. RMI doctoral students must take the following doctoral seminars and courses:

• RMI 6195 Seminar in Life and Health Insurance
• RMI 6296 Seminar in Property and Liability Insurance
• RMI 6395 Seminar in the Theory of Risk and Insurance

Students must take an additional three RMI elective courses approved by the doctoral adviser. Examples include RMI 5136 (Employee Benefit Plans), RMI 5345 (Risk Management in the Business Enterprise).

Students will take at least two additional doctoral-level economics courses that are not included in the Tools and Research area above. The two economics courses will be chosen in consultation with the program director. RMI doctoral students also are expected to have or acquire computer literacy through course work or self-study.

In addition to these courses, first-year and second-year students will participate in a professional development series that will be an additional registered course in each semester of the first two years of the program. The development series is designed to introduce doctoral students to the roles and responsibilities of faculty, including research ethics, communication with faculty at other universities, the research review process, balancing research, teaching and service, among other topics.

In addition to the regularly scheduled seminars, the RMI faculty and doctoral students meet periodically to share the results of recent research conducted by FSU faculty and doctoral students and by invited scholars from other universities. RMI doctoral students are required to attend these RMI brown bag seminars and invited lectures.

III. Support Area Coursework

RMI doctoral students typically choose a support area in Finance. The courses for this support area include:

• FIN 6804 Foundations of Financial Theory
• FIN 6809 Markets and Institutions
• FIN 6842 Empirical Methods
• FIN 6527 Seminar: Corporate Finance/Investments

Normally, three or four courses are required in the support area. In addition, at least two of the courses required in the support area cannot be used to satisfy other requirements. The support area is chosen in consultation with the RMI doctoral program adviser.

There is also a required research paper that must be completed by the end of the second year. The paper is directed by the RMI faculty and is designed to prepare the student for the dissertation and subsequent research.

Sample Course Sequence*

*Actual schedule subject to course offerings and availability.

  Application Process

Admission decisions are made by the college’s Doctoral Admissions Committee and are based on a combination of factors, including prior academic record from accepted universities; GRE or Graduate Management Admission Test (GMAT) scores taken within the past five years; letters of recommendation; experience; record of accomplishments. Admission is competitive and focused on students with grade-point averages of 3.5 or higher and GMAT scores of at least 600 or GRE scores of at least 155 on each section of the revised GRE.

Application Checklist

• Login to admissions.fsu.edu/gradapp (applications will only be accepted through this portal).
• Begin your application by logging in with your FSUID or clicking the link to register to get one.
• Complete your online application form and submit.
• This will generate automated email sent to your references by our system to request that they submit a recommendation for you and answer a series of standardized questions.
• Submit your Statement of Purpose (2-3 pages).
• Submit a current resume or C.V.
• Pay the nonrefundable $30 application fee.
• Request that each college or university you have attended submit an official transcript to FSU (see below for email/address).
• Transcripts are considered official if they are sent directly to FSU (either through the U.S. mail or electronically) by your undergraduate or graduate institution.
• Request that official GMAT or GRE scores (and TOEFL/IELTS/PTE/DuoLingo/Cambridge C1 Advanced/Michigan Language, if applicable) be submitted to FSU (see below for email/address)
• Test scores will only be considered official if sent directly from the testing service. The code for ETS to send (GRE and TOEFL) scores to FSU is 5219. The code to send GMAT scores to FSU is PN8K567.
• An English proficiency exam score (TOEFL/IELTS/PTE) must be submitted for international applicants whose native language is not English or who have not received a college degree from an institution where the instruction is primarily in English.

Have transcripts and test scores sent to [email protected] or:

Graduate Admissions Office 222 S. Copeland St. 314 Westcott Building Florida State University Tallahassee, FL 32306-1410 USA

International Applicants

International applicants should visit gradschool.fsu.edu/admissions/international-admissions for information concerning financial responsibilities, degree equivalency, etc.

English Language Proficiency Exam International applicants whose native language is not English or who have not completed an undergraduate or graduate degree in an English-speaking country are required to take either the Test of English as a Foreign Language (TOEFL,) the International English Language Testing System (IELTS,) the Pearson Test of English (PTE,) Duolingo, Cambridge C1 Advanced Level, or Michigan Language Assessment and submit official test results in order to be admitted to Florida State University. The College of Business requires a minimum TOEFL score of 100 on the internet-based test, a minimum of 7.0 on the IELTS exam , or a minimum of 66 on the PTE , a minimum score of 120 on Duolingo , a minimum score of 180 on Cambridge C1 Advanced Level , or a minimum score of 55 on the Michigan Language Assessment taken within the past two (2) years.

  Program Costs

Ph.D. students typically take 27-33 credit hours each year. Here are the estimated program costs for the 2023-2024 academic year:

• Florida residents: $479.32 (tuition plus fees) per credit hour.  Total estimated program cost is $12,941.64 - $15,817.56 per year.
• Non-Florida residents: $1,110.72 (tuition plus fees) per credit hour.  Total estimated program cost is $29,989.44 - $36,653.76 per year.

Note: These costs do not include required books, supplies for courses, or required health insurance. Costs are subject to change. Fees above do not include some per-term flat fees for FSUCard and facilities use. For a breakdown of on-campus student fees and their explanations, visit the university’s  Tuition Rates  page.

  Residency Information

The doctoral program is a full-time program that lasts four to five years. Students should plan to live in the Tallahassee area year-round, including summers. Our program is not set up for individuals who wish to take courses part time or online.

  Financial Assistance

The College of Business awards financial assistance to applicants based on academic criteria and performance. The goal of the college is to provide assistantships and/or fellowships to all of our admitted doctoral students, subject to overall enrollment and fiscal limitations. Most doctoral students who request funding, who maintain a satisfactory level of academic and work performance, and who are in residence receive financial assistance from the college. Annual stipends and supplementary assistance such as travel expenses for conference attendance will vary among cohorts and programs. Students who are not Florida residents should note that tuition waivers associated with assistantships only cover the out-of-state portion of their tuition for year one of the program. Out-of-state tuition waivers are generally not available for years two through five.   Doctoral students on assistantship are supported for four full academic years, contingent upon satisfactory performance in the program. Eligibility for fifth-year support is considered for a student having made substantial progress toward placement at a research-oriented university. For a full list of Florida State University funding and awards, visit gradschool.fsu.edu . Applicants are strongly encouraged to submit all completed application materials before January 15 to be eligible for additional funding opportunities at the university level.

Awards/Scholarships

The College of Business awards financial assistance to applicants based on academic criteria and performance. There are various scholarships available for graduate students. Visit our graduate scholarships page to learn more.

(Applicants are strongly encouraged to submit all completed application materials before January 15 to be eligible for additional funding opportunities at the university level.)

• For a full list of Florida State University funding and awards, visit  gradschool.fsu.edu
• For more information on Florida State University's research and research funding, visit  research.fsu.edu
• For more information on Florida State University's graduate fellowships and awards, visit  ogfa.fsu.edu

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Address 821 Academic Way, Tallahassee, FL 32306-1110 | Phone 850-644-3090 | Fax 850-644-0915 Copyright © 2023, Florida State University - College of Business , All Rights Reserved. Accredited by AACSB International.

RMA/Wharton Advanced Risk Management Program

Program overview.

As the volatility and interdependencies of markets increase, senior executives must make organizational risk management a high priority. The RMA/Wharton Advanced Risk Management Program gives banking executives analytical frameworks, strategies, and resources to better measure, manage, and monitor risk at their organizations.

You also will use tools for modeling risk analysis, critical thinking, and risk scenario planning, while applying your knowledge to current issues facing your organization through risk evaluations to give you an enterprise view of risk. In between the two program weeks, you will examine a new area of risk in your organization, reporting findings to the class.

Academic Director Richard Herring describes the curriculum of the RMA/Wharton Advanced Risk Management Program .

Date, Location, & Fees

If you are unable to access the application form, please email Client Relations at [email protected] .

May 5 – 10, 2024 Philadelphia, PA and June 9 – 14, 2024 Philadelphia, PA $29,995

In Partnership With

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Program Experience

Who should attend, testimonials, highlights and key outcomes.

In the RMA/Wharton Advanced Risk Management Program , you will:

• Network and interact with banking industry peers and renowned Wharton faculty
• Use tools for modeling risk analysis, critical thinking, and risk scenario planning
• Apply your knowledge to current issues facing your bank or financial institution through risk evaluations

Experience & Impact

In today’s global economy, the environment for risk has become much more complex. The RMA/Wharton Advanced Risk Management Program introduces the latest thinking around risk, including macroeconomic drivers, and equips you with the tools to evaluate your exposure.

Wharton faculty — led by Richard Herring, PhD, the author of more than 150 articles, monographs, and books on various topics in financial regulation, international banking, and international finance — apply their field-based research and the latest strategic insights to help you broaden your view the major drivers of risk, with a framework for measuring and monitoring it. Unique to the RMA/Wharton program is the integration of academic analytics, which provide the professional bankers who participate in the program with a theoretical foundation, along with the insights of star practitioners, who show how these ideas can be implemented.

Session topics include:

Risk management as a strategic competitive strength:

• Macroeconomic drivers of risk
• Distinctive features of regulated financial intermediaries and how the regulatory environment has evolved since the 2007–09 crisis
• The connection between corporate finance and managerial decision making and risk management
• The study of systemic risk and the unique challenges of being a financial intermediary in today’s interconnected world

The analytical framework for measuring, managing, and monitoring risk:

• Methods and issues in measuring risk exposure
• Modeling challenges and practices
• Scenario-based strategic planning
• Unique risk characteristics presented by derivatives and real estate assets
• Economic capital

The enterprise perspective, including culture, governance, and relationships with stakeholders:

• Peripheral vision and critical decision making
• Defining risk appetites
• Communicating risk profiles to both internal and external stakeholders
• Tension between economic capital and regulatory capital
• Enterprise risk management

Through highly interactive lectures, exercises, and case studies, both in the classroom and in smaller work groups, this deep dive into risk will help you be a more capable enterprise risk management leader within your financial institution.

Convince Your Supervisor

Here’s a justification letter you can edit and send to your supervisor to help you make the case for attending this Wharton program.

Due to our application review period, applications submitted after 12:00 p.m. ET on Friday for programs beginning the following Monday may not be processed in time to grant admission. Applicants will be contacted by a member of our Client Relations Team to discuss options for future programs and dates.

Participants are mid-level to senior executives in banking and banking-related industries with several years of experience, including:

• Chief Risk Officers
• Business-line Risk Managers
• Enterprise-wide and Operational Risk Managers

Firms that have sent executives to this program in the past include:

• BBVA Compass
• Capital One
• Discover Financial
• First Republic
• Morgan Stanley
• TD Ameritrade

Fluency in English, written and spoken, is required for participation in Wharton Executive Education programs unless otherwise indicated.

Plan Your Stay

This program is held at the Steinberg Conference Center located on the University of Pennsylvania campus in Philadelphia. Meals and accommodations are included in the program fees. Learn more about planning your stay at Wharton’s Philadelphia campus .

Group Enrollment

Banks sending four participants will receive a 10% discount on each enrollment. Please note that all four participants must register for the program at the same time. Please contact the Wharton Client Relations Team at +1.215.898.1776 or [email protected] , for more details.

Richard Herring, PhD See Faculty Bio

Academic Director

Jacob Safra Professor of International Banking; Professor of Finance, The Wharton School

Research Interests: International banking, international finance, money and banking

Peter Conti-Brown, PhD See Faculty Bio

Class of 1965 Associate Professor of Financial Regulation, Associate Professor of Legal Studies & Business Ethics, The Wharton School

Research Interests: Central banking, financial history, financial regulation, fiscal crises, political history, public finance, the Federal Reserve

Mauro Guillén, PhD See Faculty Bio

William H. Wurster Professor of Multinational Management; Vice Dean, MBA Program for Executives, The Wharton School

Research Interests: Globalization, international political economy, multinational management

Ethan Mollick, PhD See Faculty Bio

Ralph J. Roberts Distinguished Faculty Scholar; Associate Professor of Management; Academic Director, Wharton Interactive, The Wharton School

Research Interests: Innovation, entrepreneurship, crowdfunding, games, AI

Todd Sinai, PhD See Faculty Bio

David B. Ford Professor; Professor of Real Estate; Professor of Business Economics and Public Policy; Chairperson, Real Estate Department, The Wharton School

Research Interests: Commercial real estate and real estate investment trusts, real estate and public economics, risk and pricing in housing markets, taxation of real estate and capital gains

Robert Stine, PhD See Faculty Bio

Professor Emeritus of Statistics, The Wharton School

Research Interests: Credit scoring, model selection, pattern recognition and classification, forecasting

What initially attracted me to the program was the breadth of topics covered together with the opportunity to learn from the experiences of other banks, especially in North America. Having completed the program, I could not recommend it more highly — it easily surpassed my expectations. The program content served not only as a timely reminder of core risk management fundamentals but was also rich with practical insights born out of the experiences of practitioners. The content was delivered by a superb mix of academic and C-suite executives which blended to create a wonderful learning experience in terms of how to apply what we were learning in practice. Another impressive element of the program was the engagement within the class, which resulted in many insightful conversations which continued long after the allotted time of the session! The dialogue drew not only on the theory but also, and more importantly, on the hands-on, lived experience from participants. It was this “compare and contrast’ that really produced enormous value and insights. If you are thinking about the Advanced Risk Management program, I would say you should have no hesitation. In my own case not only did I learn a lot but I have made very good friends and a network that I know will support me throughout my career. "

John Kelly  Group Head of Risk Management, AIB (Ireland)

Antoine Avril  Vice President and Chief Credit Officer, Desjardins Group

I was recommended to attend the RMA/Wharton Advanced Risk Management Program by Mr. Ed Schreiber. I met Ed when I was president and CEO of a small minority depository institution headquartered in Houston, Texas. My small community bank was undergoing an amazing transformation and he was assisting me in addressing my staffing and training challenges. At that time, he strongly suggested that I attend this RMA program because he believed it would round out my experience and provide me with the blueprint needed in leading a banking institution. And he was right! This RMA program has provided me with all the tools and access to resources I need to be successful. The staff, academic directors, and the program team made me feel welcomed and valued. But more important, they facilitated a program that addressed risk in a very comprehensive and strategic way. And all the instructors were outstanding! I came into the program feeling a bit insecure and out of my league with my class of highly experienced and seasoned chief risk officers and managers from many of the top 10 banks from around the world — but ended with a new network of amazing colleagues that will be my lasting friends. The highlight of this program for me was preparing and delivering our Bridge Project. Our differences became our strengths. It was amazing! As I embark on my new journey of creating a new de novo minority depository institution, I will use each risk model to guide how I manage my institution. This Advanced Risk Program is not limited to risk officers only. I highly recommend and strongly encourage bank executives leading small community and MDI banks attend this program. You will not be disappointed!"

Laurie Vignaud  CEO, ViZ Bank

I head the team of credit adjudication and portfolio management at the National Bank of Canada. I took the RMA/Wharton Advanced Risk Management program to broaden my horizons. I had a strong credit background but not as much exposure to the entire suite of risks present in a large bank (operational, market, compliance, reputational, cyber, emerging risks, etc.) The program was excellent. It was really about opening your eyes on different practices and angles, to give you a more holistic view of risks. The length of time and the intensity of the course were perfect for an executive. The assignments between the sessions, and the relationships you could create with people, were just stellar. The learnings were actionable and I had a ton of ideas about things that I could really apply or improve upon at my bank. Another key takeaway was the quality of the faculty. I appreciated the mix of academia and real-life practitioners; it was the best of both worlds. I particularly enjoyed Professor Dick Herring’s presentation about what happened in 2007-2008, which gave a general understanding of the mechanics of what can go wrong. That’s what we have applied in our team to think about detecting patterns in our own bank. There can be “unknown unknowns,” questions I did not even know to ask. The program made me better at asking the right questions. The course gave me many industry contacts. It was a very diverse group geographically, in the types of risk in which people operate, and the types of financial institutions. This yielded really unique perspectives. The way you interact with the other participants, and the questions that they ask in class—especially deep domain experts in a certain risk that you’re not absolutely familiar with—to academia members who are also deep experts in that risk, brings you an exponential level of learning. I would give the program a ten out of ten. It was above expectations.”

Jean-Sébastien Grisé  Vice President, Credit Risk, Commercial, Retail and Wealth Management, National Bank of Canada, Montreal, Canada

I enrolled in the RMA/Wharton Advanced Risk Management Program hoping to broaden and deepen my perspectives on the practice of risk management. I’d developed my career in a singular risk discipline and wanted to have some insights on the other risk types. The program was a great overall experience. The quality of the instruction was first-class and the facilities are outstanding. Some highlights for me were working with Professor Bob Stine, who simplified some pretty complex issues around model development, model risk, the statistics of risk management, and thinking about how we can employ those ideas in our businesses. Coming from my background that was still a new science for me, so it was great to get that perspective. I also enjoyed hearing from Professor Mauro Guillen on global macro trends. That was a great presentation with important insights about looking beyond today and thinking about emerging risks and evolving trends. The program elevated the practice of risk management in a way that I think positions me to help my organization deal with new challenges in the financial services industry. I can better serve my company’s stakeholders as we deal with the pace of change. I really appreciated the opportunity to engage with the other professionals. I’ve been to other seminars and discussions, but at Wharton we had a really candid and open group, all willing to share ideas and concerns. I think those relationships are of incalculable value over and above the education. For me it was one of the great takeaways from the experience. I would recommend the program highly. I definitely see an opportunity to identify the right kind of talent within our risk management organization and sponsor them into the program for the lessons that they could learn, contacts they could make in the industry, and to help them understand the broader practice of risk management.”

Eric Ensmann  Director of Enterprise Risk Management, BBVA Compass

As head of operational risk management for a U.S. bank, I’m responsible for making sure that our bank has implemented our operational risk management framework. We work with all of our respective business lines to make sure that they understand their key processes, risks, and controls, and that key controls are designed and operating effectively. The RMA/Wharton Advanced Risk Management Program broadened my knowledge beyond just operational risk. The course includes all the different risk disciplines, from operational risk, retail and commercial credit risk to market and liquidity risks. It was a great curriculum, and the Wharton faculty and the presenters were exceptional. I particularly enjoyed the enterprise risk management section. Also, the fact that this program brings in industry leaders is a big benefit. It’s not a 100% academic; we’re actually getting real perspectives from different business leaders coming in. The professors had great presentation styles. Even in an intensive program where it’s hard to sit still all day, I never found myself looking at my watch, because I was so engaged. The whole class was very engaged as well. The expertise of my classmates as well as the presenters made for an overall wonderful experience. Another benefit is the contacts that you make in the program. These are people I can reach out to now because we’ve built that relationship. I can say, I’m dealing with this type of issue; how have you dealt with it at your institution? What I really took away from the course is that operational risk is embedded in all the different disciplines that we talked about. So whether we’re talking about market risk, commercial credit, retail credit, third party, whatever it may be, it was all relevant to me. Having a better understanding of those areas allows me to be a better operational risk professional. I can now better interact with those areas at my own institution. I also appreciated the facilities and the amenities of the program, and enjoyed the vibe of being on Wharton’s campus in May when school was still in session. I would recommend the program 100 percent. I thought it was fantastic!”

Christopher Nestore  Head of Operational Risk Management, TD Bank

The participants were a good mix of people from different types of institutions — I also liked that the program was held over two separate weeks so you have an opportunity to get to know people and reflect on course content at home before coming back to the classroom. There were two types of lectures that were really outstanding — one was star academic lectures on topics such as global risk the first week and ethics and strategic thinking the second week. The Wharton faculty really knew their subject matter and had applicable experience as well as being really engaging lecturers who connected with the audience. The other standout lectures were by colleagues from different financial institutions. Two that stick in my mind were the CRO from one of the major Canadian banks, covering risk appetite, and a board director of a major international bank who shared insight on the expectations and perspectives from the board and board risk committee. Since the financial crisis of 2007 and more recently Brexit in the UK, there is heightened uncertainty in how the economy might turn. Wharton’s program was very helpful in providing me with specific insights and an appreciation for common topics and current challenges in the industry, including how regulation works in different jurisdictions. Having that perspective means when I am talking to the chief executive or other directors in my organization, I’ve got a greater understanding of how a risk issue fits not only within our organization but also in a wider context. This is a premium program that I would recommend to the right person at the right stage in their career. It’s not often you get that time to really engage with the wide range of risk management issues this program addresses. I would absolutely recommend it to senior colleagues who are thinking about how to lift their career up a step and contribute more strategic insights to their organization.”

James Tebboth  Chief Credit Officer, Nationwide, UK

Dennis Winkel  Chief Risk Officer, Exchange Bank of Canada

With the cost of executive search fees reaching upwards of $300,000, effective retention tools represent a solid investment strategy. One of the most powerful tools for retaining top performers is to send them to the RMA/Wharton Advanced Risk Management Program . In fact, I’ve already sent 13 executives to the program. This program gives me a tremendous development and retention tool. By sending our executives through the program, we’re making a commitment to our employees about their personal and professional development. It also delivers impressive ROI in terms of building depth and experience on our team. We have realized significant savings by staffing senior positions from within the company. It is a world-class program that balances the quantitative with the qualitative, the theoretical with the practical.”

Tom Whitford  Executive vice president, PNC Financial Services

Download the program schedule , including session details and format.

Hotel Information

This program consists of two non-consecutive sessions. Both sessions are required for completion.

Fees for the on-campus program include accommodations and meals. Prices are subject to change.

Read our COVID-19 Safety Policy »

International Travel Information »

Plan Your Stay »

Related Programs

• Mergers and Acquisitions
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For more information on The Risk Management Association , please contact Amanda Good, Senior Manager, Academic Programs: [email protected]

 +1.215.898.1776

 [email protected]

Still considering your options? View programs within Finance and Wealth Management , Industry Association Programs or:

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Financial Risk Management MSc

London, Bloomsbury

Finance is driven by technology. Becoming an expert in both will enable you to thrive in risk management roles in the financial sector. The Financial Risk Management MSc brings together traditional theories in finance, data analytics, quantitative and computational modelling techniques – designed to produce talented practitioners in this field.

UK tuition fees (2024/25)

Overseas tuition fees (2024/25), programme starts, applications accepted.

Applications closed

Applications open

• Entry requirements

A minimum of an upper second-class UK Bachelor's degree (or an international qualification of an equivalent standard) in a relevant discipline with a strong quantitative component evidenced by good performance in mathematics and statistics examinations. Good performance is defined as scores in these subjects not falling below a UK upper second-class or international equivalent level. There is not an exhaustive list of relevant disciplines, but individuals with a background mathematics, statistics, physics, computer science, engineering, economics, or finance are encouraged to apply.

The English language level for this programme is: Level 2

UCL Pre-Master's and Pre-sessional English courses are for international students who are aiming to study for a postgraduate degree at UCL. The courses will develop your academic English and academic skills required to succeed at postgraduate level.

Further information can be found on our English language requirements page.

This programme is suitable for international students on a Student visa – study must be full-time, face-to-face, starting September.

Equivalent qualifications

Country-specific information, including details of when UCL representatives are visiting your part of the world, can be obtained from the International Students website .

International applicants can find out the equivalent qualification for their country by selecting from the list below. Please note that the equivalency will correspond to the broad UK degree classification stated on this page (e.g. upper second-class). Where a specific overall percentage is required in the UK qualification, the international equivalency will be higher than that stated below. Please contact Graduate Admissions should you require further advice.

About this degree

A distinctive finance programme taught from a computer science perspective, the Financial Risk Management MSc enables you to become an expert in computing, mathematics, and technology to manage and predict financial risk.

You will experience an innovative programme that blends core financial concepts with opportunities to place yourself at the cutting edge of computational techniques and technology, through topics such as machine learning, algorithmic trading and blockchain technologies.

Throughout this programme, you will learn from renowned lecturers who also undertake research or are practitioners in the finance industry. You will gain a core understanding of market risk, credit risk, operational risk, systemic risk, and financial engineering, complemented by topics that range from market microstructure to probability, stochastic processes, and data-driven modelling. As well as this, you will combine knowledge about how the financial system works with computational techniques.

You will undertake a substantial project as the culmination of your programme, bringing opportunities to work with an industry partner on a real-world problem, or to embark on an academic project supervised by one of our leading academics.

This programme gives you key skills to become a professional in financial markets and related technical aspects, while you immerse yourself in London life and the benefits of living in a global financial centre.

Who this course is for

The programme is aimed at students with a first degree in mathematics, finance, economics, physics, or computing who wish to gain the skills necessary to work within quantitative risk management. You will be expected to have established competency in probability, statistics, differential equations and the use of a computer to solve numerical problems.

What this course will give you

UCL is ranked 9th globally in the latest QS World University Rankings (2024) , giving you an exciting opportunity to study at one of the world’s best universities.     

UCL Computer Science is recognised as a world leader in teaching and research. The department was ranked 1st in England and 2nd in the UK for research power in Computer Science and Informatics in the UK's most recent Research Excellence Framework ( REF2021 ). You will learn from leading academic experts at the forefront of computer science innovation.

This finance programme is distinct as it is based in a computer science department. You will learn about how financial systems work, while keeping up with the latest technologies and computational techniques use by the financial sector.

The programme team takes a data-driven approach to our subject, enjoy the challenge and opportunity of entrepreneurial partnerships, and place a high value on our extensive range of industrial collaborations. You will have opportunities to get hands-on experience working on real-world projects with leading industry partners through the Department’s Industry Exchange Network (IXN) .

London is a global financial centre and technology hub, so you will benefit from proximity to top technology and finance companies, entrepreneurial projects and practitioners in central London.

The foundation of your career

Graduates from this programme have pursued careers in the accountancy and financial services sectors. Others have gone into banking and investment, IT, technology and telecoms, publishing, journalism and translation, consultancy, logistics and distribution.

Employers include Credit Suisse, Deutsche Bank, Bloomberg, China Development Bank, Deloitte, Ernst & Young, Google, JP Morgan Chase, Moody’s Analytics, People’s Bank of China, PriceWaterhouseCoopers, Santander, Standard Chartered Bank and Royal Bank of Scotland.

Employability

A programme with exceptional relevance in the modern day, you will graduate from the Financial Risk Management MSc with expertise in how financial markets work, and with the mathematical and computational skills required for quantitative roles in the financial industry. This includes handling data, extracting information from data, and developing data driven models – including the know-how to validate and deploy them in international markets.

UCL is proud to support innovation and link our students and research directly to real-world business applications. From internships to solving complex problems with commercial partners, UCL Engineering has a collaborative, innovative spirit at its core.

As a student and later as a graduate, you will have access to a UCL Engineering careers events programme, connecting you with employers and alumni. This programme provides invaluable insight into the reality of different roles, sectors, and current application processes.

Entrepreneurial minds thrive at UCL. For example, UCL’s IDEALondon was the first innovation centre led by a university in London, and incubates companies post-seed to reach technical and business milestones. Our academic and industrial networks provide a safe and supportive environment to grow a company.

Teaching and learning

The programme’s core curriculum is typically delivered through a combination of lectures, tutorials, and lab classes, as well as directed and self-directed learning supported by teaching materials and resources, published through each module’s online virtual learning environment. Each module employs a teaching strategy that aligns with and supports its intended learning outcomes.

You will be assessed through a range of methods across the programme, which will vary depending on any optional or elective module choices. The programme’s core curriculum is typically assessed by methods including coursework, lab work, individual and group projects, class tests, written examinations, oral assessments, and, in all cases, culminating in a final research project/dissertation.

Contact time takes various forms, including lectures, seminars, tutorials, project supervisions, demonstrations, practical classes and workshops, visits, placements, office hours (where staff are available for consultation), email, videoconferencing, or other media, and situations where feedback on assessed work is given (one-to-one or group).

Each module has a credit value that indicates the total notional learning hours a learner will spend to achieve its learning outcomes. One credit is typically considered equal to 10 hours of notional learning, which includes all contact time, self-directed study, and assessment.

The contact time for each of your 15 credit taught modules will typically include 22-30 hours of teaching activity over the term of its delivery, with the balance then comprised of self-directed learning and working on your assessments. You will have ongoing contact with teaching staff via each module’s online discussion forum, which is typically used for discussing and clarifying concepts or assessment matters and will have the opportunity to access additional support via regular office hours with module leaders and programme directors.

Your research project/dissertation module is 60 credits and will include regular contact with your project supervisor(s), who will guide and support you throughout your project. You will dedicate most of your time on this module to carrying out research in connection with your project and writing up your final report.

The MSc Financial Risk Management is a one-year programme.

In term 1, you will study topics that introduce you to the applied mathematical and computational aspects of quantitative finance, probability theory, stochastic processes and their applications, and key concepts and models of asset pricing, portfolio theory, and risk measurement. You will choose from a range of optional topics, which may include numerical methods, market microstructure, operational risk management, financial institutions and markets, and digital finance.

In term 2, you study topics that introduce you to the instruments used to analyse, characterise, validate, parametrise, and model complex financial datasets. You will choose from a range of optional topics, which may include algorithmic trading, applied computational finance, machine learning with applications in finance, networks and systemic risk, quantitative modelling of operational risk and insurance analytics, and blockchain technologies. You will also begin preparation for your final research project/dissertation.

In term 3, you will primarily focus on your final research project/dissertation and any examinations that take place in the main examination period.

Compulsory modules

Optional modules.

Please note that the list of modules given here is indicative. This information is published a long time in advance of enrolment and module content and availability are subject to change. Modules that are in use for the current academic year are linked for further information. Where no link is present, further information is not yet available.

Students undertake modules to the value of 180 credits. Upon successful completion of 180 credits, you will be awarded an MSc in Financial Risk Management.

Accessibility

Details of the accessibility of UCL buildings can be obtained from AccessAble accessable.co.uk . Further information can also be obtained from the UCL Student Support and Wellbeing team .

Online - Open day

Graduate Open Events: Department of Computer Science

Join us for a live online information session to hear from Computer Science staff. We will cover areas such as the general admission process, careers support, and industry links/placements. There will also be an opportunity for you to ask staff and current students any questions you may have. Two sessions will run for this event. These sessions are the same and are repeated to cater to people in different time zones.

Fees and funding

Fees for this course.

The tuition fees shown are for the year indicated above. Fees for subsequent years may increase or otherwise vary. Where the programme is offered on a flexible/modular basis, fees are charged pro-rata to the appropriate full-time Master's fee taken in an academic session. Further information on fee status, fee increases and the fee schedule can be viewed on the UCL Students website: ucl.ac.uk/students/fees .

Additional costs

All full-time students are required to pay a fee deposit of £2,000 for this programme. All part-time students are required to pay a fee deposit of £1,000.

Students will require a modern computer (PC or Mac) with minimum specifications 8GB RAM and 500GB SSD storage. A computer with the stated specifications is estimated to cost £500 or greater.

For more information on additional costs for prospective students please go to our estimated cost of essential expenditure at Accommodation and living costs .

Funding your studies

For a comprehensive list of the funding opportunities available at UCL, including funding relevant to your nationality, please visit the Scholarships and Funding website .

UCL East London Scholarship

Deadline: 20 June 2024 Value: Tuition fees plus £15,700 stipend () Criteria Based on financial need Eligibility: UK

UCL Friends & Alumni Association scholarship for Machine Learning

Deadline: 3 June 2024 Value: $20,000 (1 year) Criteria Based on both academic merit and financial need Eligibility: EU, Overseas

Students are advised to apply as early as possible due to competition for places. Those applying for scholarship funding (particularly overseas applicants) should take note of application deadlines.

There is an application processing fee for this programme of £90 for online applications and £115 for paper applications. Further information can be found at Application fees .

When we assess your application we would like to learn:

• why you want to study Financial Risk Management at graduate level
• why you want to study Financial Risk Management at UCL
• what particularly attracts you to this programme
• how your academic and professional background meets the demands of this programme
• what programming experience you have
• where you would like to go professionally with your degree

Together with essential academic requirements, the personal statement is your opportunity to illustrate whether your reasons for applying to this programme match what the programme will deliver.

Due to competition for places on this programme, no late applications will be considered. Students with visa requirements or applying for scholarships are advised to apply early.

Please note that you may submit applications for a maximum of two graduate programmes (or one application for the Law LLM) in any application cycle.

Choose your programme

Please read the Application Guidance before proceeding with your application.

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The Financial Compliance and Risk Management Programs are designed to provide financial services professionals with the knowledge and skills to navigate the rapidly evolving industry. With financial technology, the blockchain, the gig economy, and big tech's continued growth, corporations need regulatory- and policy-minded professionals now more than ever.

We offer a rigorous curriculum that blends financial services topics with general corporate compliance studies. All courses are taught by faculty who are thought leaders in the fields of banking, insurance, wealth management, financial technology, energy, corporate governance, and more.

• The financial services industry is growing and is currently at 20% of the U.S. GDP, according to the Bureau of Economic Analysis.
• The blockchain market — alone — is expected to grow by nearly 70% in the next five years, according to Markets and Markets.
• Drawing from geographically-diverse pool of active practitioner faculty, our courses are taught by some of the best in the field, from New York City's financial district and well beyond.

Master’s Degree (100% online)

• Bachelor’s degree required
• Complete in a little over a year
• Dual degree options available

LL.M. Degree (100% online)

• J.D. or LL.B. required
• Complete in one year

Advanced Certificate in Financial Compliance and Risk Management (100% online)

• Bachelor’s Degree required
• Complete in as little as 3 months

At Albany Law the faculty support you and find time for you. You’re not just a number and this is what drew me here: The school size, the location, and the ability to do work online and still have interactions and relationships with the faculty.

- Justan Foster, MS student

Financial Compliance and Risk Management courses (each course is offered every year!)

The Master’s degree requires 30 credits, the LL.M. 24 credits, and the Certificate program 9 credits. To earn a concentration at least 18 credits must be completed from courses within the concentration. The Master’s and LL.M. require a Thesis course and the Master’s requires Introduction to Law and Legal Methods. That leaves room for either completing additional courses within the concentration or taking some electives. The programs are built for flexibility

• Technology & Financial Markets:  FinTech & Big Data (3 credits)
• Market Structure & Investment Products, Vehicles (3 credits)
• Cybersecurity, Data Privacy, Technology & Financial Markets (3 credits)
• The Compliance Officer: Risk Management and Compliance Obligations (3 credits)
• Financial Crimes (3 credits)
• Securities Fraud, Financial Crimes, and Internal Investigations (3 credits)
• Introduction to Financial Institutions, Products, Professionals & Associated Regulatory Structure (1 credit)
• Introduction to Broker-Dealer Regulation (1 credit)
• Introduction to Investment Adviser Regulation (1 credit)
• Introduction to Bank Regulation (1 credit)
• Introduction to the Insurance Regulation (1 credit)
• Compliance in the Retail Customer Relationship (1 credit)

Sample of Elective courses (email  [email protected]  for more information)

School of Graduate Studies

Financial risk management, program overview.

Develop the strengths a fast-moving economy demands, and leading organizations are looking for, in this intensive, 10-month full-time program. At the intersection of risk management and finance, the Rotman Master of Financial Risk Management provides an ideal balance of technical expertise and communications skills that will help launch your career.

Quick Facts

Master of financial risk management, program description.

The Master of Financial Risk Management (MFRM) is designed to prepare students who excel at finance and quantitative analysis for careers in this in-demand sector. A bridge between academic and professional life, this full-time, 10-month program allows students to fast-track into the finance industry — giving them a competitive edge over applicants with only an undergraduate degree.

Students will gain a better understanding of the different types of risk, the regulatory environment, and how different financial institutions manage uncertainty. They consider the ways risk is measured and managed, looking at systems and models currently used within the financial sector.

Students have the opportunity to gain real-world experience during the Risk Management Project which takes place midway through the program. They will work on a real risk issue that is relevant and of interest to financial institutions. During the nine-week project, students will be taken out of the classroom and into industry, working with practising risk management professionals.

Minimum Admission Requirements

Applicants are admitted under the General Regulations of the School of Graduate Studies. Applicants must also satisfy the Rotman School's additional admission requirements stated below.

A recognized four-year undergraduate degree or equivalent: A business, commerce, economics, mathematics, engineering, or actuarial science degree is preferred. However, other four-year undergraduate degrees will be considered if there is evidence of strong quantitative skills with a minimum B average in calculus, linear algebra, and statistics or econometrics.

Quantitative proficiency , usually demonstrated through the completion of university-level courses with a minimum B average, in calculus, linear algebra, and statistics and/or econometrics during the undergraduate degree.

Two academic references.

Essays (written essay, video questions, and real-time written response).

English-language proficiency (if required).

Prerequisite knowledge in the following areas, usually demonstrated through the completion of university-level courses:

Foundations of finance.

Financial accounting.

Investments.

Financial derivatives.

Applicants who have not completed courses in one or more of these subject areas may be offered admission conditional on successful completion of one or more qualifying examinations demonstrating equivalent knowledge.

Demonstrated knowledge of Python coding . All offers of admission will be conditional upon the successful completion of a Python coding online course and examination. Applicants will be given access to online instruction modules in preparation for the examination and will have up to two attempts prior to the start date of the program.

Applicants who meet all the criteria will be assessed on the basis of their application essays, answers to video questions, grades, and references by the admissions committee. Selected applicants will then be invited for an admission interview. The admission decision will be based on both submitted materials and interview performance.

Program Requirements

Within this 10-month, full-time program (three sessions), students must complete a structured sequence of 12 half courses ( 6.0 full-course equivalents [FCEs] ). No advanced standing will be granted for previous academic work completed or professional designations earned. Students who are unable to follow courses in their prescribed order must attain special approval from the Academic Director in order to continue in the program. The courses in the program are as follows:

Program Length

3 sessions full-time (typical registration sequence: F/W/S)

3 years full-time

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MS in Financial Risk Management

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The Master of Science in Financial Risk Management (MSFRM) is designed for business professionals who want to enhance their careers by fully understanding how to identify and manage various types of financial risk.

The program provides a unique blend of theory and practice designed for financial professionals who develop and direct investment strategies and/or manage the financial risk of firms, institutions, and private clients.

While the theoretical component will be analytical and quantitative, the practice component will emphasize the behavioral issues and human factors in the design and implementation of internal control, communication and governance of exposure to risk.

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• Postgraduate study
• Taught degree programmes A‑Z
• Financial Risk Management

Postgraduate taught  

Financial Risk Management MSc

This programme focuses on the risk management and the quantification of several types of risk such as financial, including market risk and some elements of liquidity and counterpart risk.

• Academic contact: [email protected]  
• Teaching start: September
• MSc: 12 months full-time

Why this programme

• advanced econometric analysis
• theories of risk, including bond market interest rate determination,  market risk, liquidity risk and counterpart risk
• the role and impact of financial regulations.
• It will equip you with up to date risk management skills for the quantification of risk and the optimal asset allocation. These skills are essential for managing and hedging market, credit and interest rate risks.
• You will have access to statistical packages, such as MATLAB and EViews, and a dedicated computer lab that will enable you to put theory into practice.
• Take advantage of our individualised skills development programme, which will ensure you balance academic theory with crucial employability skills to help you maximise your potential and achieve your career goals.       

Adam Smith Business School is triple accredited

Programme structure.

You will take four core and two optional courses and complete a substantial independent piece of work, normally in the form of a dissertation.

Core courses

• DISSERTATION GCEFS
• FINANCIAL MARKETS, SECURITIES AND DERIVATIVES
• HEDGE FUND RISK MANAGEMENT
• MATHEMATICAL FINANCE
• MODELLING AND FORECASTING FINANCIAL TIME SERIES

Optional courses

• APPLIED COMPUTATIONAL FINANCE
• BASIC ECONOMETRICS
• BEHAVIORAL ECONOMICS:THEORY AND APPLICATIONS
• CORPORATE FINANCE AND INVESTMENT
• FINANCIAL SERVICES
• PORTFOLIO ANALYSIS AND INVESTMENT
• MACHINE LEARNING IN FINANCE WITH PYTHON (potential new course for 2022 - subject to change/approval)

Programme alteration or discontinuation The University of Glasgow endeavours to run all programmes as advertised. In exceptional circumstances, however, the University may withdraw or alter a programme. For more information, please see: Student contract .

Career prospects

As a graduate you will be qualified to work in risk management, asset management companies, hedge funds, wealth management banks and central banks. Graduates have found employment with companies such as Morgan Stanley, HSBC, KPMG, and the Royal Bank of Scotland. We have a dedicated careers and employability team who provide 1-2-1 support and advice, group workshops, employer events on campus and networking opportunities throughout the year to help you with your career prospects.

Fees & funding

Tuition fees for 2024-25

• Full-time fee: £15000

International & EU

• Full-time fee: £35640

International and EU applicants are required to pay a deposit of  £2000 within four weeks  of an offer being made.

Deposits: terms & conditions

This programme requires some students to pay a deposit to secure their place.

If you are an international student, we will only issue a Confirmation of Acceptance for Studies (CAS) once the deposit has been paid.

Your offer letter will state:

• how to pay the deposit payment
• the deadline for paying the deposit

The following guidelines will apply in determining whether a deposit will be refunded. Where the deposit is refunded, a 25% handling fee will be deducted.

Deposits will be refunded to applicants under the following circumstances:

• Where the University is unable to offer you a place.
• Where the applicant has personal circumstances such as illness, bereavement or other family situations that has prevented them coming to the UK. Medical or other proof may be requested.
• Applicant can prove that they have applied for a visa to attend the University of Glasgow, but the VISA has been refused. The applicant must have shown 'real intent' to study at the University of Glasgow but has been unable to obtain their visa.
• Applicant does not meet his / her conditions of offer: this may be academic or language test requirements. Satisfactory evidence must be uploaded to the student’s applicant self-service to prove that they have not met the conditions of their offer (note that applicants who do not meet the language condition of their offer must show reasonable attempt to meet this, i.e. they must provide a language test which was taken after the date that the deposit was paid).

Deposits will not be refunded to applicants under the following circumstances:

• Applicant has decided to defer – in this situation the University will retain the deposit and credit it against the applicant’s account for securing their place for the following year of entry.

Refund requests must be made within 30 days of the programme start date stated on your offer letter.

Requests made after this date will be subject to discretion.

• Find out more about Deposits

Application fee

A fee of £25 per application must be paid by all applicants to this programme. The application fee will be requested when you apply online and it can be paid using your credit or debit bank card.

Application fee: Terms and conditions

The application fee is non-refundable so it is important that you check any specific entry requirements for the programme. If you are applying with qualifications from outside the UK then you should check the postgraduate taught entry requirements for your country: see International students: In your country

Applicants who are sponsored may have the application fee waived at the point of applying online. However if the sponsorship status changes before the student registers with the University and the student is self-funding the University reserves the right to invoice the student for the initial application fee.

Find out more about Application fees

Additional fees

• Fee for re-assessment of a dissertation (PGT programme): £370
• Submission of thesis after deadline lapsed: £350
• Registration/exam only fee: £170

Funding opportunities

• Adam Smith Tercentenary Scholarship (UK)

The University of Glasgow is offering a number of Adam Smith Scholarships for Academic Session 2024-25 to students. Scholarships are available to students entering the below Adam Smith Business School full-time postgraduate taught programmes and are awarded as a tuition fee discount.

• Adam Smith Business School Priority Country Discount

The University of Glasgow is offering a 20% tuition fee discount for Academic Session 2024-25 to students entering the Adam Smith Business School.

• Adam Smith Business School India scholarship

The Adam Smith Business School is honoured to announce the new ASBS India Scholarship for 2024 entry. This exciting new award aims to enable highly qualified students from India to pursue full-time Master's degree study at the University of Glasgow. This scholarship is available to students entering the Adam Smith Business School for Academic Session 2024-25. The scholarship is awarded as a tuition fee discount. 

• Adam Smith Tercentenary Scholarship (International)

The University of Glasgow has a number of Adam Smith Scholarships available for Academic Session 2024-25 to students entering the Adam Smith Business School. The scholarship is awarded as a tuition fee discount. 

• Beit-Glasgow Scholarship

One year Scholarship for an MSc in developmental subjects only. The Beit-UoG Scholarship does not cover MBA, PG Diploma, PG Certificate or CPD Online distance learning programmes. 

Please see  Beit Trust Postgraduate Scholarships  for more details. 

• GREAT Scholarships 2024- Greece, Nigeria, Egypt and Turkey

In partnership with the British Council and the GREAT Britain Campaign, University of Glasgow is offering 4 scholarships to students in Greece, Nigeria, Egypt and Turkey applying for postgraduate courses in any subject (excluding MBA and MSc by Research courses). All eligible courses can be viewed under the 'eligible programmes' tab on this webpage. 

The scholarship offers financial support of £10,000 to students pursuing one-year postgraduate study in the UK. This discount cannot be combined with another University scholarship.

• The Snowdon Trust Master’s Scholarship

The Snowdon Trust Master’s Scholarship is accelerating exceptional Disabled Students through masters’ programmes into leadership positions to create change.

Do you have ambitions to change the world? Are you pioneering in your field? Are you creating change for Disabled People? Let us open some doors.

We are searching for individuals who choose to use their lived experience of disabling barriers to make a difference. To create change.

Applications open 2pm 15 January 2024.

Please see  Snowdon Trust, Investing in Disabled Students  website for more details.

• Banco de Mexico

The Mexican National Bank (Banco de Mexico) provides special loans for students who wish to undertake a programme of postgraduate study. The University of Glasgow in partnership with Bank of Mexico FIDERH is offering a fee discount to holders of a Bank of Mexico FIDERH loan. See the FIDERH website for further information.

• Erasmus+ Master Degree Loans

Erasmus+ Master Degree Loans are EU-guaranteed loans with favourable pay-back terms. They’re designed to help prospective students finance their Master’s courses in an Erasmus+ Programme country while leaving as little of a lasting economic footprint as possible.

The scheme is designed to provide postgraduate students with the means to pay their tuition and living expenses – thereby allowing individuals to focus on their degree instead of managing their bank balance. The programme aims to be as inclusive as possible, working under the following guidelines:

• No need for collateral from students or parents - ensuring equality of access
• Favourable, better-than-market interest rates
• Pay-back terms that allow graduates up to two years to find work before beginning repayment.

Please visit the  Erasmus+ Master Degree Loans website  for more information.

• PGT Excellence Scholarship

The University of Glasgow has a total of 20 PGT Excellence Scholarships available to UK students entering any of the University’s Colleges.

• Climate Leadership Scholarships

Cop26 was held in Glasgow from 31 st October – 12 th November 2021 and the University of Glasgow recognises the importance of universities in tackling the climate emergency. Glasgow is part of the newly formed  Cop26 Universities Network , a growing group of over 80 universities working together to promote a zero-carbon future. Alongside vital research being carried out by our academics, Glasgow recognises that urgent action is needed on our campuses, and we aim to be carbon neutral by 2030.  We believe that the climate emergency can only be addressed by implementing long-term sustainability policies and our Green Glasgow strategy details our action plan for the next decade.

In recognition of the vital need for action to combat the climate emergency the University of Glasgow is excited to launch our Climate Leadership Scholarships. We have 20 scholarships available to UK students entering any of our Colleges on a PGT programme which engages with the climate emergency.

As a world-changing research-led University we are committed to supporting the next generation of researchers working across disciplines to address the climate emergency.

• DAAD-University of Glasgow 1-year Master’s grant

The University of Glasgow will offer a full tuition waiver to those students that successfully apply and are nominated by DAAD to the University. DAAD offers a monthly stipend of EUR 1,100 (for the academic year 2024/2025) and travel bursary of EUR 250.00 as well as health, accident, and personal liability insurance coverage in addition to the full tuition fee waiver from the University of Glasgow.

Wichtige Hinweise zu DAAD-Stipendien - DAAD (general info on DAAD tuition fee reimbursement)

Current list of tuition reduction / waiving offers (not including U Glasgow yet) : Stipendien für ein Masterstudium im Ausland - DAAD - Deutscher Akademischer Austauschdienst

• Chevening Scholarship

Chevening Scholarships are the UK government's global scholarship programme, funded by the Foreign, Commonwealth and Development Office (FCDO) and partner organisations. The scholarships are awarded to outstanding scholars with leadership potential. Awards are typically for a one year Master’s degree at universities across the UK. There are over 50,000 Chevening Alumni around the world who together comprise an influential and highly regarded global network.

For further information, please refer to the  Chevening website .

• Colfuturo Fundacion para el Futuro de Colombia

The University of Glasgow offer discounts to all successful Fundacion para el Futuro de Colombia (Colfuturo) scholars who enrol at the University of Glasgow to complete a postgraduate programme.

• Commonwealth Scholarship Commission Schemes

Commonwealth Scholarships enable talented and motivated individuals to gain the knowledge and skills required for sustainable development, and are offered to citizens from low and middle income Commonwealth countries. The majority of Scholarships are funded by the UK  Foreign, Commonwealth & Development Office (FCDO ),  with the aim of contributing to the UK’s international development aims and wider overseas interests, supporting excellence in UK higher education, and sustaining the principles of the Commonwealth.

• Vice Chancellor EU Award

The University of Glasgow continues to be committed to ensuring a strong relationship with our existing and future EU students, and supporting EU talent to make their home at the University of Glasgow.  

We appreciate the challenging financial implications that have arisen for our European applicants, and are therefore delighted to offer the Vice Chancellor EU Award to highly qualified new incoming EU students starting a postgraduate taught Masters programme in any discipline for Academic Session 2024-25. The scholarship is awarded as a tuition fee discount.  This discount cannot be combined with another University scholarship.

Applicants that graduated from the University of Glasgow or completed a Study Abroad year, Exchange programme or International Summer School at the University of Glasgow, are eligible for the Alumni discount and this can be combined with the Vice Chancellor EU Award.

• EU Welcome Award

We appreciate the challenging financial implications that have arisen for our European applicants, and are therefore delighted to offer the EU Welcome Award to new incoming EU students starting a postgraduate taught Masters programme for Academic Session 2024-25. The scholarship is awarded as a £5,000 tuition fee discount.  This discount cannot be combined with another University scholarship.

Applicants that graduated from the University of Glasgow or completed a Study Abroad year, Exchange programme or International Summer School at the University of Glasgow, are eligible for the Alumni discount and this can be combined with the EU Welcome Award.

• University of Glasgow African Excellence Award

The University of Glasgow African Excellence Award aims to support high achieving students from across Africa in their journey to become Future World Changers.  We are looking for students who wish to undertake Masters level study, to further develop their knowledge and skills, in order to positively contribute to their community in the future.  

The University is offering up to 15 scholarships for International students from Africa, starting a 1 year postgraduate taught Masters programme, in any discipline for academic session 2024/25.  The scholarship is a full tuition fee waiver.  

• Emerging Asia Award

The University of Glasgow is proud to introduce an exciting new award designed to support students from a selection of underrepresented 'frontier and developing' Asian countries . 

The University of Glasgow is offering 8 scholarships for highly qualified international students from Bangladesh, Cambodia, Lao People's Democratic Republic, Myanmar, Nepal and Sri Lanka.

Students must be starting a one-year postgraduate taught masters programme, in any discipline, for the academic session 2024/25. The scholarship is a full tuition fee waiver with stipend for one year that can not be combined with any other scholarships. 

• University of Glasgow African Partners Award

The University of Glasgow African Partners Awards aims to support high achieving students from across Africa in their journey to become Future World Changers.  We are looking for students who wish to undertake Masters level study, to further develop their knowledge and skills, in order to positively contribute to their community in the future.  The scholarship is exclusively for students, alumni and staff of the University partners across Africa:  African Partners List 2024 .

The University is offering up to 5 scholarships for International students from Africa, starting a 1 year postgraduate taught Masters programme, in any discipline for academic session 2023/24.  The scholarship is a full tuition fee waiver.  

Applicants much hold an offer of a place for a postgraduate taught one year Masters programme for September 2024 intake (offer is not needed to apply but applicants will require an offer to be considered for interview, and should take programme application timelines into consideration as detailed on programme webpages)

• University of Glasgow International Leadership Scholarship

The University of Glasgow has several International Leadership Scholarships available to International students starting a postgraduate taught Masters programme in any discipline for Academic Session 2024-25. The scholarship is awarded as a tuition fees discount.

• University of Glasgow Caribbean Partners Award

The University of Glasgow Caribbean Partners Awards aims to support high achieving students from our partner The University of the West Indies in their journey to become Future World Changers.  We are looking for students who wish to undertake Masters level study, to further develop their knowledge and skills, in order to positively contribute to their community in the future.  The scholarship is exclusively for students, alumni and staff of The University of the West Indies.  

The University is offering up to 5 scholarships for students, starting a 1 year postgraduate taught Masters programme, in any discipline for academic session 2024/25.  The scholarship is a full tuition fee waiver.  

Those who apply must hold an offer of a place for a postgraduate taught one year Masters programme for September 2024 intake (offer is not needed to apply but applicants will require an offer to be considered for interview, and should take programme application timelines into consideration as detailed on programme webpages);

• University of Glasgow Caribbean Excellence Award

The University of Glasgow Caribbean Excellence Award aims to support high achieving students from across the Caribbean in their journey to become Future World Changers.  We are looking for students who wish to undertake Masters level study, to further develop their knowledge and skills, in order to positively contribute to their community in the future.  

The University is offering up to 5 scholarships for International students from the Caribbean, starting a 1 year postgraduate taught Masters programme, in any discipline for academic session 2024/25.  The scholarship is a full tuition fee waiver.  

• CONICyT (La Comsion Nacional de Investigacion Cientifica y Tecnologica de Chile)

The University of Glasgow offers a 25% discount to all successful CONICyT scholars who enrol at the University of Glasgow to complete a postgraduate programme.

• University of Glasgow Chancellor's Award

The University of Glasgow has 40 Chancellors Award Scholarships available to students from low and middle income countries, starting a 1 year postgraduate taught Masters programme in any discipline, in academic session 2024-25. The scholarship is awarded as a tuition fee discount.

• India Merit Award

The University of Glasgow is proud to announce a new India Merit award for 2024 entry to acknowledge highly qualified Indian postgraduate taught offer holders. The scholarship is awarded as a £5,000 tuition fee discount. This discount cannot be combined with another University scholarship.

• University of Glasgow Chancellor's Award (Nigeria)

The University of Glasgow has 10 Chancellors Award Scholarships available to Nigerian students starting a postgraduate taught Masters programme in any discipline in academic session 2024-25. The scholarship is awarded as a tuition fee discount.

• CONACyT (Consejo Nacional de Ciencia y Tecnologia) / FUNED Agreement

CONACYT offers a non-refundable scholarship, a monthly stipend and medical insurance of an approximate total of $20,000 USD (in the case of the UK, no medical insurance grant is given since students are already covered by the National Health System) The University of Glasgow offer a 30% discount to all successful CONACyT scholars who enrol at the University of Glasgow to complete a postgraduate programme.

• Postgraduate Student Loan (Scotland and EU)

Eligible full-time and part-time students, undertaking an eligible postgraduate course, can apply for a tuition fee loan up to a maximum of £7,000 towards their course. Eligible full-time postgraduate students can apply for a living-cost loan of up to £4,500.  

This support extends to online Masters or Postgraduate Diplomas, and not to the online Postgraduate Certificate courses.

For more information visit the SAAS website .

• Postgraduate Tuition Fee Loans England only (PTFL)

If you’re an English student looking to study a taught Masters programme in Glasgow then you can apply for a student loan. Students from England are able to apply for a non-means tested   Postgraduate Master’s Loan  of up to £11,570   to help with course fees and living costs. You have to  repay your Postgraduate Master’s Loan  at the same time as any other student loans you have. You’ll be charged interest from the day you get the first payment.

If you’re studying by distance learning, you can also apply.

• Alumni Discount

In response to the current unprecedented economic climate, the University is offering a 20% discount on all Postgraduate Research and full Postgraduate Taught Masters programmes to its alumni, commencing study in Academic session 2024/25. This includes University of Glasgow graduates and those who have completed a Study Abroad programme, International Summer School programme or the Erasmus Programme at the University of Glasgow. The discount applies to all full-time, part-time and online programmes. This discount can be awarded alongside most University scholarships.

• Postgraduate Loans for Welsh Students

If you are a Welsh student looking to study a postgraduate programme* in Glasgow then you can apply for a student loan in exactly the same way as you would for a Welsh University.

* does not apply to Erasmus Mundus programmes

Postgraduate Master's Finance

If you’re starting a full-time or part-time Postgraduate Master’s course (taught or research based) from 1 August 2019, you can apply for Postgraduate Master's Finance and receive up to £17,000 as a combination of grant and loan:

• a maximum grant of £6,885 and loan of £10,115 if your household income is £18,370 and below
• a grant of £1,000 and loan of £16,000 if your household income is not taken into account or is above £59,200.

For more information visit  Student Finance Wales

Postgraduate Doctoral Loan

If you’re starting a full-time or part-time postgraduate Doctoral course (such as a PhD) from 1 August 2019 you can apply for a Postgraduate Doctoral Loan of up to £25,700.

• Postgraduate Access Scholarship

The University of Glasgow is pleased to be offering Postgraduate Access Scholarships to support Home students who could face financial difficulties in taking up their place to study at the University. Applications are particularly welcomed from applicants who met any of our widening participation criteria , or equivalent, at undergraduate level. The value of each scholarship is £4,000 and they are for students undertaking a one or two year Taught Masters programme. For two year Taught Masters programmes, the scholarship is available in year one only.

• Postgraduate Student Loan (NI)

If you are a Northern Irish student looking to study a taught Masters programme* in Glasgow then you can apply for a student loan in exactly the same way as you would for a University in Northern Ireland.

Northern Irish students are able to apply for non-means-tested tuition fee loans of up to £5,500, to help with the costs of funding.

For more information visit  www.studentfinanceni.co.uk/types-of-finance/postgraduate  .

• Sanctuary Scholarships

The University of Glasgow is offering up to 20 Sanctuary Scholarships for applicants to the University, who have been forced to travel to the UK for humanitarian reasons and are facing challenges in progressing onto Higher Education. The scholarship is open to prospective undergraduate and postgraduate taught students at the University of Glasgow applying for entry in September 2024/25. Please note that you must have applied to the University before submitting an application for this scholarship. The scholarship will meet the cost of tuition fees for the duration of your programme, for applicants who are unable to access mainstream funding through Student Awards Agency Scotland (SAAS) or Student Finance . The Sanctuary Scholarship also provides a £5,000 per year stipend, to assist with study costs. In addition, if the eligibility criteria for university accommodation is met, this will also be provided for the duration of your degree, if required. For more information on the accommodation criteria, please see the  Accommodation Services section  on the website.

Undergraduate students with refugee status (or equivalent) and access to funding, are eligible to apply for the scholarship and would receive the £5,000 stipend towards study costs only, if successful.

Postgraduate Taught Masters students with refugee status (or equivalent) and access to funding, are eligible to apply for the scholarship and would receive the £5,000 stipend towards study costs and a partial tuition fee waiver, to cover any shortfall not met by your Postgraduate Masters tuition fee loan.

• The Clan Gregor Society Prize

The Clan Gregor Society is offering an award to new entrants to the University of Glasgow who descend from Clan Gregor. Prospective students will be asked to submit an application highlighting areas of consideration such as academic excellence and financial need. The award is open to both Undergraduate and Postgraduate applicants for 2024 entry.

The scholarships above are specific to this programme. For more funding opportunities search the scholarships database

Entry requirements

2.1 Honours degree or non-UK equivalent in economics, finance, engineering, physics, or another highly mathematical discipline.

Only applications that meet or exceed our stated entry requirements will go forward for consideration. Any application that does not will be automatically rejected. Applicants will be made offers based on their relative performance compared to other applicants, taking into account both current GPA, or degree classification, and the relevance of an applicant’s academic background.

Please note, applications that meet our minimum entry requirements may still be rejected, based on its score in comparison to other applications received during the same round. Please review our stated entry requirements to ensure you meet or exceed them  before  submitting your application.

International students with academic qualifications below those required should contact our partner institution, Glasgow International College , who offer a range of pre-Masters courses.

English language requirements

For applicants whose first language is not English, the University sets a minimum English Language proficiency level.

International English Language Testing System (IELTS) Academic module (not General Training)

• 6.5 with no subtests under 6.0
• Tests must have been taken within 2 years 5 months of start date. Applicants must meet the overall and subtest requirements using a single test.

Common equivalent English language qualifications

Toefl (ibt, mybest or athome).

• 79; with Reading 13; Listening 12; Speaking 18; Writing 21
• Tests must have been taken within 2 years 5 months of start date. Applicants must meet the overall and subtest requirements , this includes TOEFL mybest.

Pearsons PTE Academic

• 59 with minimum 59 in all subtests
• Tests must have been taken within 2 years 5 months of start date. Applicants must meet the overall and subtest requirements using a single test.

Cambridge Proficiency in English (CPE) and Cambridge Advanced English (CAE) 

• 176 overall, no subtest less than 169

Oxford English Test

• Oxford ELLT 7
• R&L: OIDI level no less than 6 with Reading: 21-24 Listening: 15-17
• W&S: OIDI level no less than 6.

Trinity College Tests

• Integrated Skills in English II & III & IV: ISEII Distinction with Distinction in all sub-tests.

University of Glasgow Pre-sessional courses

• Tests are accepted for 2 years following date of successful completion.

Alternatives to English Language qualification

• students must have studied for a minimum of 2 years at Undergraduate level, or 9 months at Master's level, and must have complete their degree in that majority-English speaking country  and within the last 6 years
• students must have completed their final two years study in that majority-English speaking country  and within the last 6 years

For international students, the Home Office has confirmed that the University can choose to use these tests to make its own assessment of English language ability for visa applications to degree level programmes. The University is also able to accept UKVI approved Secure English Language Tests (SELT) but we do not require a specific UKVI SELT for degree level programmes. We therefore still accept any of the English tests listed for admission to this programme.

Pre-sessional courses

The University of Glasgow accepts evidence of the required language level from the English for Academic Study Unit Pre-sessional courses. We also consider other BALEAP accredited pre-sessional courses:

• School of Modern Languages and Cultures: English for Academic Study
• BALEAP guide to accredited courses

For further information about English language requirements, please contact the Recruitment and International Office using our  enquiry form

International students

We are proud of our diverse University community which attracts students and staff from over 140 different countries.

• Find out more about entry requirements and other country-specific information
• International student support & visas
• This one-year masters programme is eligible for a new, streamlined visa application process: find out more

How to apply

To apply for a postgraduate taught degree you must apply online. We cannot accept applications any other way.

Please check you meet the Entry requirements for this programme before you begin your application.

As part of your online application, you also need to submit the following supporting documents:

• A copy (or copies) of your official degree certificate(s) (if you have already completed your degree)
• A copy (or copies) of your official academic transcript(s), showing full details of subjects studied and grades/marks obtained
• Official English translations of the certificate(s) and transcript(s)
• One reference letter on headed paper
• Evidence of your English language ability (if your first language is not English)
• Any additional documents required for this programme (see Entry requirements for this programme)
• A copy of the photo page of your passport (Non-EU students only)

You have 42 days to submit your application once you begin the process.

You may save and return to your application as many times as you wish to update information, complete sections or upload supporting documents such as your final transcript or your language test.

For more information about submitting documents or other topics related to applying to a postgraduate taught programme, see  how to apply for a postgraduate taught degree

Guidance notes for using the online application

These notes are intended to help you complete the online application form accurately; they are also available within the help section of the online application form. 

If you experience any difficulties accessing the online application, see  Application System Help .

• Name and Date of birth:  must appear exactly as they do on your passport. Please take time to check the spelling and lay-out.
• Contact Details : Correspondence address. All contact relevant to your application will be sent to this address including the offer letter(s). If your address changes, please contact us as soon as possible.
• Choice of course : Please select carefully the course you want to study. As your application will be sent to the admissions committee for each course you select it is important to consider at this stage why you are interested in the course and that it is reflected in your application.
• Proposed date of entry:  Please state your preferred start date including the month and the year. Taught masters degrees tend to begin in September. Research degrees may start in any month.
• Education and Qualifications : Please complete this section as fully as possible indicating any relevant Higher Education qualifications starting with the most recent. Complete the name of the Institution (s) as it appears on the degree certificate or transcript.
• English Language Proficiency : Please state the date of any English language test taken (or to be taken) and the award date (or expected award date if known).
• Employment and Experience : Please complete this section as fully as possible with all employments relevant to your course. Additional details may be attached in your personal statement/proposal where appropriate.

Reference : Please provide one reference. This should typically be an academic reference but in cases where this is not possible then a reference from a current employer may be accepted instead. Certain programmes, such as the MBA programme, may also accept an employer reference. If you already have a copy of a reference on letter headed paper then please upload this to your application. If you do not already have a reference to upload then please enter your referee’s name and contact details on the online application and we will contact your referee directly.

Application deadlines

September 2024, international applicants.

As there is extremely high demand for places on this degree programme, the University has established an application process with application rounds which recognises that different geographical areas complete and submit their applications at different times of the year. This process aims to ensure fairness and equity to applicants from all geographic regions.

Round 1 application dates

1 October 2023 to 17 November 2023 . All international applications submitted within these dates will be reviewed with no priority given to any geographic region. You will receive our decision on your application by 21 January 2024 . Please note highly qualified applicants with, or on course for, a UK 1 or equivalent should expect to receive a decision on their application by 18 December 2023 .

Round 2 application dates

18 November 2023 to 15 December 2023 . All international applications submitted within these dates will be reviewed with no priority given to any geographic region. You will receive our decision on your application by 25 March 2024 . Please note highly qualified applicants with, or on course for, a UK 1 or equivalent should expect to receive a decision on their application by 16 February 2024 .

Round 3 application dates

16 December 2023 to 1 February 2024 . Priority will be given to under-represented geographic regions. You will receive our decision on your application by 22 April 2024 . Please note highly qualified applicants with, or on course for, a UK 1st or equivalent should expect to receive a decision on their application by 3 April 2024 .

Round 4 application dates

2 February 2024 to 1 April 2024 . Priority will be given to under-represented geographic regions. You will receive our decision on your application by 3 June 2024 . Please note highly qualified applicants with, or on course for, a UK 1st or equivalent should expect to receive a decision on their application by 6 May 2024 .

Round 5 application dates

2 April 2024 to 1 June 2024 . Priority will be given to under-represented geographic regions. You will receive our decision on your application by 15 July 2024 . Please note highly qualified applicants with, or on course for, a UK 1st or equivalent should expect to receive a decision on their application by 24 June 2024 .

All international applications submitted by 15 December 2023 (application rounds 1 and 2) will be reviewed and processed normally with no priority given to any geographic region. From 16 December 2023 , priority will be given to applications from geographic areas which have been unable to submit applications before that point.

As we receive a great number of applications, prospective students are only allowed to apply once per year.

Home applicants

• 16 August 2024

More information about this programme

• Resources and facilities

Skills Award

• Adam Smith Skills Award

Related programmes

• Aerospace Engineering & Management [MSc]
• Behavioural Science [MSc]
• Civil Engineering & Management [MSc]
• Corporate Governance & Accountability [MSc]
• Creative Industries & Cultural Policy [MSc]

more related Business programmes

• Data Analytics for Economics & Finance [MSc]
• Economic Development (with Finance & Policy Pathways) [MSc]
• Economics [MRes]
• Economics, International Banking & Finance [MSc]
• Environment & Sustainable Development [MSc]

more related Economics programmes

Related links

• About postgraduate study
• How to apply for a postgraduate taught degree
• Postgraduate research opportunities A-Z
• How to apply for a postgraduate research degree
• Fees and funding

Postgraduate events

Open Days, information sessions, campus tours, events near you

Postgraduate prospectus

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baruch college | zicklin school of business

Master of Science Degrees

Master’s in financial risk management.

The Master of Science in Financial Risk Management gives you a comprehensive, foundational knowledge of current risk management issues, methodologies, and challenges that position you for successful career in risk management at a variety of financial institutions.

With an MS in Financial Risk Management, you will gain an in-depth look at the core areas of risk management, including interest rates, markets, credits, foreign exchanges, and more. You will also develop a strong understanding of derivatives, and learn how to use analytical and quantitative models and methodologies in risk management. The cumulation of your knowledge can be applied to current issues and developing challenges in the field of risk management.

The BBA and Master of Science Programs in Finance and in Financial Risk Management at the Zicklin School of Business at Baruch College are part of the CFA Institute University Affiliation Program. 

This status is granted to institutions whose degree programs incorporate at least 70 percent of the CFA Program Candidate Body of Knowledge (CBOK), which provide students with a solid grounding in the CBOK and positions them well to sit for the CFA exams. 

The CFA Institute aims to lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society. Its Chartered Financial Analyst designation is among the most prestigious in the finance world. 

Program Highlights

• 30 – 39 credits
• Standard completion time: 3 semesters
• Prepares students for professional certification exams in financial risk management

Designed with Your Goals in Mind

The elective options offered within the MS in Financial Risk Management help you customize your study to meet your career goals — whether you’re looking to begin your career in risk management, or are a more seasoned professional looking to take your career to the next level. You will gain a solid foundation in all areas of financial risk management and deepen your expertise with courses that address current risk management tools, methodologies, and techniques

Professional Certifications

The program prepares you to sit for the professional certification tests of the leading professional financial risk management associations, including:

• Financial Risk Manager (FRM) certification of the Global Association of Risk Professionals (GARP)
• Professional Risk Manager (PRM) certification of the Professional Risk Managers International Association (PRMIA)

Note: MS in Financial Risk Management is not a prep program for the above certification exams. While certain courses in the program cover the main knowledge areas covered by these certification exams, they also cover other topics not required for these exams while not covering certain topics that are required for these exams.

Visa Extension for STEM International Students

The MS in FRM conforms to the U.S. Department of Homeland Security’s STEM (Science, Technology, Engineering, Math) program that qualifies eligible international graduates on student visas for an optional practical training extension of 24-months.  Find out more here .

This curriculum is effective for students entering in Fall 2022. Students who entered in a prior semester should review the Graduate Bulletin  or contact a program advisor to confirm their degree requirements.

Based on your academic background, you may be required to take preliminary courses from the following list. These courses are not part of the 30-credit MSFRM curriculum. Please note that the Certified Financial Analyst® (CFA) charter is not sufficient to waive preliminary requirements. 

Typical Waiver Criteria for Preliminary Courses

Note: Waiver criteria are current for students entering in Spring 2019 and are subject to change.

Total credits will range from 30 (no preliminary courses required) to 39 (all preliminary courses required).

Total Required Credits: 22.5

Choose 1.5 – 7.5 credits from the following list

Business Electives*: Choose 0-6 credits from the list below:

Note: Course offerings vary from semester to semester.

Here are a few examples of Special Topics and Seminar in Finance courses offered in recent years:

• Valuation of the Firm
• Crypto-Currency Markets & Trends
• Equity Analysis
• Credit Analysis
• Municipal Bond Markets
• Hedge Funds
• Financial Statement Analysis
• Convertible and Risk Arbitrage
• US Financial Crisis: How It Happened and Why It Matters?
• How do you manage a financial business?

Office of Graduate Admissions

Visitors: 151 E. 25th St. Room 820 (between Lexington and 3rd Avenues) Mail: One Bernard Baruch Way, Box H-820, New York, NY 10010 Phone: (646) 312-1300 Fax: (646) 312-1301 Website:  Zicklin Graduate Admissions

• UB Directory
• School of Management >
• Degrees >
• Master of Science >
• Finance >
• Your Program >

Financial Risk Management Track

Identify and analyze areas of potential risk threatening the assets, earning capacity or success of a business.

As a fund manager, investor or advisor, you will minimize and control the exposure of investments to such financial risks as high inflation, volatility in capital markets, recession and bankruptcy.

• Immerse yourself in a rigorous introduction to risk diversification and measurement, portfolio theory, statistics, programming finance models in statistical software and Excel skills
• Apply your knowledge to such topics as foreign currency trading and risk, interest and inflation rate models and hedging strategies. You’ll also perform statistical analysis using big data, and learn about investments, financial derivatives, fixed income securities and financial institutions
• Take courses in corporate finance, financial modeling, programming and independent research, or consider graduate courses outside of the Department of Finance to complete a customized program that fits your interests
• Prepare to earn your CFA—a career-differentiating certification—with our MS Finance curriculum, which aligns with the topics on the exams

Review course descriptions in the  Graduate Catalog .

The MS Finance is a STEM (science, technology, engineering and mathematics) curriculum with 36 credits typically completed in three semesters. Some students extend to a fourth semester, and UB undergraduates may be able to complete the program in two semesters. All majors are welcome to apply; however, business, math, economics and engineering majors are ideally suited to the program.

George Tibil, BS ’13, MS ’18

• Managing Partner, Dragos Capital; Co-Owner, ServiceMaster Clean

Admissions 150 Jacobs Management Center Buffalo, NY 14260-4000 Tel:  716-645-3204 Contact Admissions

Student Services

203 Alfiero Center Buffalo, NY 14260-4000 Tel:  716-645-3200 [email protected]

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School of Business

Graduate Programs in Financial and Enterprise Risk Management

• Master of Science in Financial and Enterprise Risk Management
• Graduate Certificate in Financial Risk Management (FRM)
• Accelerated Master's in Financial and Enterprise Risk Management
• Campus Life
• Real World Learning
• Professionals in the Classroom
• Board of Advisors
• Corporate Partners
• GARP and CFA Partnerships
• Application and Procedures
• Online Application
• Come to an Infosession
• Request Information
• Course Descriptions
• Course Sequence
• Dual Degree with MBA
• QRM Concentration
• Fees & Financial Assistance
• Scholarships
• Career Opportunities
• Career Services Team

Quick Links

• Apply Today
• Search this Site Search in https://risk.business.uconn.edu/> Search

Graduate Programs in

Financial and Enterprise Risk Management

Maximize opportunity. minimize risk..

Elevate your career by pursuing a distinguished specialization within the dynamic world of finance. Master's degree, graduate certificate, and accelerated programs available exclusively in-person.

Congratulations to the winners of the  2021 Bloomberg Global Trading Challenge .  Their hard work and excellence put them $100,000 dollars above the next best team, and nearly half a million dollars over the benchmark that Bloomberg set for the competition.

A Real-World Approach to Risk Management Theory

The University of Connecticut's STEM-designated , Graduate Programs in Financial and Enterprise Risk Management are designed to equip you with the skills and expertise needed to ensure a promising career trajectory in these specialized areas of finance. Program graduates are prepared to excel in high-demand risk management roles across diverse industries, including finance, healthcare, technology, and insurance. The degree will prepare graduates to address a variety of risk factors that pose threats to businesses, including financial, operational, informational, geopolitical, regulatory, and cybersecurity risk.

UConn's newly revitalized, 36-credit Master's degree combines FRM and ERM coursework with the option to add a 9-credit concentration in Quantitative Methods in Risk Management. Courses include quantitative finance, financial programming & risk modeling, and legal & ethical issues in the financial risk landscape. For an FRM-focused boost to your credentials, explore our 12-credit Graduate Certificate in Financial Risk Management . Current undergraduate students can fast-track their career with an Accelerated Undergraduate-to-Graduate program option, finishing the master's degree up to a semester sooner than a traditional graduate student.

The UConn School of Business is a fully accredited AACSB institution, with campuses across the state of Connecticut. Risk program courses are offered in-person, full-time or part-time in Stamford.

Features and Benefits

Currently accepting applications for Fall 2024.

MS in Financial and Enterprise Risk Management - Quick Facts

#1 public master of finance in new england (for ms in financial risk management), -tfe times (2024), enhance your career in financial and enterprise risk management, jobs and career outlook.

UConn Risk Management Graduates typically land careers in Finance, Healthcare, Technology, and Insurance , in roles such as internal auditing, portfolio management, risk analysis, enterprise risk management, commercial banking, investment banking, and more as the risk management sector continues to grow .

Inquire now and take the next step to enhance your career today.

Learn more about UConn's Graduate Programs in Financial and Enterprise Risk Management

Introduce yourself.

Fill out a request form to receive email information, our monthly School of Business Newsletter, and invitations to upcoming graduate admissions events.

Attend a Virtual Event

Sign up for one of our virtual information sessions . Learn about UConn's risk programs and hear from admissions representatives. Event attendees could qualify for an application fee waiver!

We are here to answer your questions!

If you have specific questions about the application process, please email [email protected]

Main Content

Master of Financial Risk Management

Develop the strengths a fast-moving economy demands – and leading organizations are looking for – in this intensive, ten-month full-time program. At the intersection of risk management and finance, the Rotman MFRM provides an ideal balance of technical expertise and communications skills that will help launch your career.

• Student life
• MFRM stories

Get the competitive edge for your finance career

Over the past decade, changes across the global financial system have created a growing demand for professionals who can define, assess and manage risk.  The Rotman Master of Financial Risk Management is a focused degree designed for quantitatively-strong students eager to hone their skills for the innovation-focused economy.

Apply Now Start in September 2024

"Risk management expertise is a critical skill required by all financial institutions.  This specialization has never been in greater demand."

- Sonia Baxendale, President and CEO, Global Risk Institute in Financial Services

Program overview

The Master of Financial Risk Management is a full-time program that runs from September to June.

Rotman Risk Management project

The applied Risk Management project is a chance for students to tackle a real issue that is relevant and of interest to financial institutions.

Industry connections

As a Rotman student, you'll benefit from the strong ties between the school and the finance industry.

The finance faculty at Rotman is a mix of leading academics and seasoned industry professionals. Risk management and trading are core research strengths at the school.

Finance lab

Our state-of-the-art BMO Financial Group Finance Research and Trading Lab allows you to hone your investment, trading and hedging strategies through access to information on the global markets and tools developed by Rotman experts.

Rotman FinHub: Financial Innovation Hub in Advanced Analytics

Bringing together FinTech practitioners with researchers and students interested in financial innovation issues, the hub explores financial applications of new technologies including blockchain, machine learning, big data and quantum computing.

What we're looking for

MFRM Admissions criteria

We look for students with strong quantitative skills, a solid academic track record, and a high potential for professional achievement in risk management.

How to apply

Master of Financial Risk Management: how to apply and important deadlines

MFRM Admissions Events

Our Master of Financial Risk Management admission events are a fun way to learn more about the program. Connect with faculty, current students and the admissions team. Join us!

Fees and financial support

Learn about the fees and expenses for the MFRM program, and the financial support available to you as a Rotman student.

International applicants

Canada, with its sound fiscal situation and solid economic performance is a model for the world and a safe haven in the light of recent financial turmoil. It also happens to be a great place to live. Find out why you should make Toronto, Canada your next home, and the steps you need to take to get here.

Transform your potential

In a competitive market, it takes serious focus, drive and leadership to take your career to the next level. Located just blocks from Canada's business centre and part of the University of Toronto, the Rotman School is ideally positioned to help you connect with top employers. 

➔ Download the MFRM Program Brochure

Prepare for Career Success

Getting ahead.

Our dedicated Career Services team is committed to working closely with you to achieve your career goals, and to develop the self-marketing tools and strategies that will benefit you throughout your professional life.

"In terms of the caliber of the class, you just need to look at my fellow students and what they’re doing now. They’re working in some prestigious institutions – the major banks, the central bank and insurance companies. They’re all covered."

- Jie (Jacky) Chen, MFRM '17, Investment Risk Analyst, OP Trust

Ways to engage

Our career services team will work with you to help you discover and define your vision for professional success. Through one-on-one coaching sessions, career development workshops and employer engagement events, you’ll gain the skills and strategies you need to achieve your goals.

Career services provides students with career support through a range of offerings:

Individual career coaching appointments

• Self-assessment and defining your career objectives
• Resume and cover letter review
• Networking techniques
• Interview preparation
• Behavioural Mock interviews
• Job offer and negotiation advice

Career and professional development workshops

• Crafting your professional networking pitch
• Advanced LinkedIn training
• Technical interview preparation
• Mock interviews with industry professionals
• Career panels and workshops in risk and finance

Employer engagement opportunities 

• Exclusive networking events 
• Mock interviews with industry panels
• Career panels
• Industry-specific speaker events

Online career resources

• Research tools
• Career development webinar and videos

As a graduate of the Rotman MFRM program you will have lifelong career support that will benefit you throughout your entire professional career.

Graduate profiles

Careers in risk

As a graduate, you will be well-positioned for career opportunities in risk management, as well as any area of finance that requires a thorough understanding of financial theory, and well developed quantitative and analytical skills.

• How well do you know risk?
• Are You Job-Market Ready? Become an Expert in Financial Risk Management
• Sound Risk Management: a critical capability for success

• How networking helped this MFRM ’19 grad gain clarity on her career and make the move to Shanghai

• Three MFRM ’17 grads on the fast track in their careers

Roles graduates have secured varied roles in a number of industries, including:

Asset Management

Canadian pension plan investment board (cppib) .

• Investment Analyst, External Portfolio Management

East Coast Fund Management 

• Associate, Investment Operations

Greystone Managed Investments Inc. 

• Senior Analyst, Fixed Income & Multi-Asset

Ontario Teachers’ Pension Plan (OTPP) 

• Investment Associate, Capital Markets
• Investment Associate, Total Fund Management
• Investment Analyst, Strategy & Risk
• Financial Analyst, Risk Analytics

Bank of Canada

Bank of tokyo-mitsubishi ufj.

• Manager, Risk Analytics

BMO Bank of Montreal

• Assistant Consultant (Contract via Financial Risk Group)
• Senior Analyst, Counterparty Credit Risk – Platform Upgrade
• Senior Analyst, Structural Market Risk, Production Support

Central 1 Credit Union

• Credit and Counterparty Risk Analyst
• Treasury Analyst
• Analyst - Capital Risk
• Program Analyst, Operational Risk
• Regulatory Reporting Analyst, OTC Derivatives, Documentation

Royal Bank of Canada (RBC)

• Enterprise Recovery & Resolution Planning Analyst
• Global Trading Client Management
• Senior Analyst, Enterprise Risk Validation
• Analyst for Regulatory Solutions at RBC Investor & Treasury Services
• Senior Analyst, Group Treasury

Toronto-Dominion (TD)

• Risk Analyst
• Senior Consultant, Financial Services Risk Management
• Consultant Intern
• New Associate - Technology (Risk Assurance)
• Fixed Income Analyst

Manulife Financial

• Senior Analyst (Risk)
• Risk Management Analyst
• Verification Analyst, Financial Risk Management

MFRM advisory board

The board seeks to raise the profile of Rotman’s MFRM program, facilitate networking and employment opportunities for students, and highlight the multiple ways in which the school is engaged in the risk management field.

Real-world results

Offered over ten months, the MFRM program is designed to prepare ambitious recent graduates and young professionals for careers in risk management and finance. All courses are developed with practitioner input.

MFRM Program overview

MFRM Course descriptions

The curriculum will allow you to master the complex issues involved in risk management and trading. All courses are developed with practitioner input.

As a Rotman student, you'll benefit from the strong ties between the school and the finance industry. Through speaking events with industry executives, an integrated project on a real-world business challenge, and exposure to faculty who span both business and academia, you’ll learn from some of the top leaders in the industry.

The state-of-the-art BMO Financial Group Finance Research and Trading Lab allows you to hone your skills in real time. With access to information on the global markets and simulation tools developed by Rotman experts, the lab provides opportunities to practice investment, trading and hedging strategies in a simulated and highly realistic environment.

Self development lab

Learn how to inspire others into action. The SDL offers an extensive schedule of workshops designed to nurture your communication and interpersonal skills through feedback-based learning.

MFRM Student View

This page is divided by the program structure, in which you are able to navigate the diverse student experiences through each and every step of the MFRM program.

Master of Financial Risk Management,  Class of 2023 profile

MFRM classes consist of students progressing straight from undergraduate studies and early career professionals with a few years of related work experience. All students have a strong quantitative background, with studies in subjects such as business/commerce, engineering and economics. Classes are a mix of domestic students and international student representing a number of countries. A number of international students have previously studied in Canada.

Average Age

Work experience

36 % of class with work experience 

Average undergrad GPA

Average GMAT/GRE

Not required for admission. Average based on scores from 20% of admitted class.

Professional designation

of class working towards professional designation such as CFA or FRM.

Academic background

Business/Commerce - 56.7% Math - 29.9% Economics - 9% Engineering - 3% Accounting - 2%

Nationalities represented

Canada Bangladesh Barbados China India Iran

Israel Jordan Mauritius Russian Federation Taiwan

International/Domestic Students

Welcome to the Rotman community

As part of the Rotman MFRM class, you will find yourself challenged and motivated to excel by the calibre of your classmates — peers who will become your lifelong network of friends and business contacts.

As part of the Rotman family, you will also have opportunities to interact with our powerful network of students and alumni who are working professionals and leaders in the finance community.

Student life begins at Rotman with an orientation event. You'll learn about Rotman, meet your classmates, and get to know what you should expect from your MFRM experience.

Case competitions

Rotman students participate in international case competitions – and even organize our own. The Rotman International Trading Competition is just one of the high-profile events hosted at the School each year. Competitions deepen your school experience, and allow you to test and sharpen your skills in real time.

Trading competition

The Rotman International Trading Competition is an annual event that brings teams of students and their faculty advisors from universities worldwide to participate in a unique 3-day simulated market challenge. Participating in the competition is fun and engaging giving you the chance to meet people with the same interests as you from all over the world.

Rotman student clubs

Rotman has a number of different student clubs and associations, run by student that you are able to participate in. They range from clubs around specific industries, regions, and social activities.

Rotman speaker events

Attending events at Rotman is a great way to deepen your knowledge and stay connected to the latest issues in finance and the wider business community. Take advantage of the speaker series events as well as a range of guest speaker events featuring experts from all over the world who publish and write on business matters.

Read about MFRM students, alumni and the Rotman School

What is it really like to be part of an MFRM class? Find out by reading about the experiences of current class members and graduates.

"Your classmates are the future leaders of the finance services industry."

- Djordje Calic, MFRM '19, Analyst, Financial Trading, TransCanada

MFRM ambassadors

Hear from current Master of Financial Risk Management students on why they decided to choose Rotman as the launchpad for their career.

MFRM Student & alumni stories

At Rotman, our students are our key strength. Learn more about them in regularly updated feature stories.

Read articles about current students, faculty, and the MFRM program.

Rotman in the news

Each week, our faculty share their groundbreaking research, published work and their authoritative insight into an exceptionally wide range of management issues. Take a moment to find out what's happening this week at Rotman.

Applications for 2024 entry are now closed. Strong domestic candidates may still be considered .

Connect with the Admissions Office for more information .

Applications are closed for fall 2024.

Applications due:

• February 7, 2024

Apply now to start in September 2024.

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• 10 months, full-time
• September, one intake per year

Program fee (2023 entry)

• Domestic = $39,850 CAD
• International = $70,370 CAD 

Employment rate

• 100% (Class of 2022, within six months of graduation)
• #1 in Canada
• #4 in North America
• #18 in the world

QS World University Rankings: Masters in Finance Rankings 2023

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 financial risk management, ms.

• New York City

This program is STEM designated, which means you will be trained in areas of technology that are in high demand with United States employers. International students studying in person on student visas will be eligible for an Optional Practical Training (OPT) extension of 24 months, for a total of 36 months.

Why Pace for Financial Risk Management

Your MS in Financial Risk Management will help you gain skills in analytics and information technology that are in high demand with employers. Learn to manage risk and portfolios and understand the ins and outs of financial securities markets, all while preparing for prestigious certifications such as the Financial Risk Manager (FRM ) offered by Global Association of Risk Professionals (GARP), one of Lubin's official academic partners.

Master Risk Management

• Acquire the mathematical skills needed to analyze risk.
• Develop an integrated risk-management perspective.
• Prepare for prestigious certifications such as the FRM.

Program Highlights

Lubin’s master’s degree in financial risk management provides you with a thorough understanding of financial risk management and the global aspects of risk analysis. Gain mastery over concepts and skills that impact every aspect of risk management in financial and non-financial organizations.

You will study topics such as equity, bond and derivative markets; management of portfolios; portfolio risk; the global aspects of risk analysis; and the financial securities markets that are important for risk managers, including equity markets, bond markets, and futures and options markets. The curriculum includes hedging and managing risk in manufacturing, retailing and other non-financial organizations; managing portfolios; and measuring, managing, and modeling risk in financial institutions.

“The Lubin School of Business offers a plethora of opportunities for personal and career growth. The location and proximity to the top financial firms made Pace University my top choice to pursue a graduate finance degree. #LubinLife means taking advantage of everything this institution offers you—the motivated students, the melting pot of cultures, the professors, the extracurricular activities, the infrastructure—everything.” —Ayush Bharat Dhanuka '21, Senior, Transaction Diligence, EY,

Choose Your Career in Financial Risk Management

Career options.

• Chief Financial Officer
• Operational Risk Manager
• Risk Analyst
• Risk and Insurance Analyst
• Risk Management Advisor
• Risk Manager

Where Graduates Are Employed

• Bank of China
• Bank of New York Mellon
• Brown Brothers Harriman & Co.
• Fortune Fashions LLC
• Grant Thornton
• Johnson & Johnson
• Masswell Development Group Inc.
• Morgan Stanley
• Mount Sinai

average salary for financial risk specialists in New York (Source: US Bureau of Labor Statistics)

of Lubin's class of 2022 master's graduates are employed or continuing their education or service  (Source: Pace University Career Services)

average salary for financial risk managers (Source: Salary.com)

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Bulletin 2023-2024, financial analysis and quantitative risk management ms.

FOX SCHOOL OF BUSINESS AND MANAGEMENT

Learn more about the Master of Science in Financial Analysis and Quantitative Risk Management .

About the Program

This program is not accepting applications for the 2024-2025 academic year.

Through the Master of Science in Financial Analysis and Quantitative Risk Management, students build industry-matched knowledge and skills across the fields of financial analysis, data science, quantitative modeling and risk management. Combining the benefits of Temple’s specialized Financial Analysis MS and Quantitative Finance and Risk Management MS programs, the MS in Financial Analysis and Quantitative Risk Management offers a unique curriculum that supports pursuing both the Chartered Financial Analyst (CFA) Exam Levels I through III and the Financial Risk Management (FRM) Exam Parts I and II during graduate study. 

Time Limit for Degree Completion: 6 years

Campus Location:  Main

Full-Time/Part-Time Status:  Full-time students are able to complete the Financial Analysis and Quantitative Risk Management MS degree program in 22 months, while part-time students can complete the program in three years.

Affiliation(s):  Research interests of Fox faculty are supported by numerous centers and institutes throughout the Fox School  and Temple University.

Accreditation:  The MS in Financial Analysis and Quantitative Risk Management is accredited by the Association to Advance Collegiate Schools of Business (AACSB International).

Job Prospects:  The Fox Center for Student Professional Development (CSPD) provides students with career coaching and professional development resources that support the job search. Graduates develop industry-matched skills in finance that distinguish them for employment with accounting firms, commercial banks, consulting companies, financial technology firms, government and regulatory agencies, hedge funds, insurance companies, investment banks and investment management companies.  

Non-Matriculated Student Policy :  Students are not allowed to take classes under non-matriculated status.

Financing Opportunities:  Citizens and permanent residents of the United States are considered domestic students and are typically eligible for federal student loans and alternative loans through private lenders. The Fox School grants 5% tuition scholarships to alumni who are admitted to the program. 

Admission Requirements and Deadlines

Application Deadline:

• December 15 – Early Admissions Deadline
• March 1 – Scholarship Deadline and International Deadline
• June 30 – Final Deadline

Applications are reviewed as they are received and can sometimes be considered after the deadline.

APPLY ONLINE to this Fox graduate program .

Letters of Reference: Number Required: 1

From Whom:  Academic and/or professional references from an immediate supervisor, current or past, are accepted.

Coursework Required for Admission Consideration: Applicants must demonstrate completion of coursework in finance and multivariate calculus (Calculus 3) with a grade of "B" or better earned. 

Bachelor's Degree in Discipline/Related Discipline:  The equivalent of a four-year U.S. baccalaureate degree from an accredited university or college is required. For three-year degrees, mark sheets must be evaluated by WES or another NACES organization.

Statement of Goals: Essay prompts can be found in the online application portal.

Standardized Test Scores: GRE/GMAT: Scores may be requested based on the applicant's academic and/or professional background. Candidates with an undergraduate GPA below 3.0 are required to submit valid GMAT or GRE test scores. Consult an admissions advisor with any questions.

Applicants who earned their baccalaureate degree from an institution where the language of instruction was other than English, with the exception of those who subsequently earned a master’s degree in a country where the language of instruction is English, must report scores for a standardized test of English that meet these minimums:

• TOEFL iBT: 90
• IELTS Academic: 7.0
• Duolingo: 110
• PTE Academic: 68

Resume:  Current resume or CV is required.

Interview: Candidates are invited to interview in person or virtually. Interviews are required on a case-by-case basis.

Writing Sample: Prompts for this optional essay can be found in the online application portal.

Transfer Credit:  Transfer credit is not accepted for the Financial Analysis and Quantitative Risk Management MS degree.

Program Requirements

General Program Requirements : Number of Credits Required Beyond the Baccalaureate: 43

Required Courses: 1

With approval from the Academic Director, FIN 5683 Special Study in Finance or non-FIN graduate courses may be substituted for any required course.

Full-Time MS 1

Part-time ms 1.

Culminating Event:  Successful completion of coursework is required to earn the MS in Financial Analysis and Quantitative Risk Management.

Program Web Address:

https://www.temple.edu/academics/degree-programs/financial-analysis-and-quantitative-risk-management-ms-bu-faqr-ms

Department Information:

Fox School of Business and Management

1801 Liacouras Walk

701 Alter Hall (006-22)

Philadelphia, PA 19122

[email protected]

215-204-5890

215-204-7678

Fax: 215-204-1632

Submission Address for Application Materials:

https://apply.temple.edu/FOX/Account/Login

Department Contacts:

Academic Director:

John Soss, CFA, FRM

[email protected]

215-204-8453

Specialized Master’s Programs Coordinator:

Rachel Carr

Senior Associate Director for Specialized Master’s Programs

[email protected]

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