Our AACSB-accredited, and STEM-designated MS in Financial Risk Management (MSFRM) Program offers a cutting-edge curriculum focused on financial risk assessment, quantitative modeling, regulatory compliance, and strategic decision-making. Designed to meet the evolving needs of finance professionals, our program delivers industry-relevant education that prepares graduates for leadership in financial risk management roles across industries.
Designed for Aspiring Risk Professionals and students, the program is tailored for individuals seeking to enhance their expertise in financial risk analysis, investment management, and corporate financial strategies. It equips students with the tools to navigate complex financial markets through key areas of risk management and financial strategy.
Comprehensive Risk Analysis
Students engage in hands-on learning experiences incorporating financial risk assessment methodologies and regulatory frameworks. The program is STEM integrated, and our 鈥渄ata analytics approach鈥 ensures that graduates will be able to identify, analyze, and mitigate financial risks that impact financial markets, businesses, and economies.
Broad Curriculum Coverage
The program features a structured blend of core courses and a capstone project, thereby providing a well-rounded perspective on financial risk management, which allows students to gain expertise across key financial domains, including market risk, credit risk, and operational risk.
Advanced Risk Management Frameworks
The program emphasizes critical thinking and problem-solving through advanced quantitative financial methodologies. Graduates are well-equipped to apply risk mitigation strategies to enhance financial stability and performance.
Leadership in Financial Decision-Making
The program fosters leadership by integrating experiential learning opportunities with professional development initiatives. Students will have the opportunity to participate in the School of Business Life Design Academy to enhance their career trajectory and to position themselves for success in risk management and financial strategy roles.
Diverse and Collaborative Learning Environment
The program attracts students from diverse educational backgrounds, thereby fostering an inclusive and dynamic learning community. Students may also benefit from the School鈥檚 Collaborative Online Interdisciplinary Learning (COIL) initiatives, which provide students with opportunities to work with peers from other institutions and industries.
Optimum Time Investment
The program, both in-person and online, may be completed in as little as one year, irrespective of prior educational background and experience.
Upon successful completion of the program:
- Students will be competent financial risk analysts.
- Students will be able to articulate financial risk analysis and its embedded elements.
- Students will demonstrate understanding of:
- Chartered Financial Analyst (CFA) Code of Ethics & Standards of Professional Conduct.
- Global Association of Risk Professionals (GARP) Code of Conduct.
- Artificial Intelligence (AI) and Machine Learning (ML) Applications in Finance and Risk Management.
Program Admission Requirements
- To be admitted, a student must hold a baccalaureate degree with a minimum final GPA of 3.0.
- Students with degrees that were earned more than five years prior to the date of the application may submit recent GMAT test results or professional work experience to supplement their eligibility.
GMAT waived for most applicants!
Application Process Checklist
- Current Resume/C.V., clearly documenting work experience, etc.
- Official Transcripts
- One Letter of Recommendation
- A non-refundable graduate application fee of $50
Comprehensive Risk Management Coursework
Courses cover a wide range of risk domains, including:
- Financial Risk Modeling: Quantitative models for managing market risk and credit risk, scenario analysis, and stress-testing
- Derivatives and Hedging Strategies: Exploring financial instruments/products used in risk mitigation
- Regulatory Compliance and Ethics: Understanding global financial regulations and corporate governance
- Enterprise Risk Management: Integrating risk management strategies within organizational frameworks
Real-World Risk Management Capstone
A hands-on experiential learning project that allows students to apply risk analysis techniques to actual financial challenges.
Preparatory Courses for Accessibility
The curriculum builds upon foundational finance concepts while eliminating redundancies from prior undergraduate coursework. For students without prior finance experience or knowledge, preparatory courses are available before entering the core curriculum. Quantitative Methods for Finance and a primer course on Portfolio Theory & Security Analysis are available as waivable preparatory courses, thereby ensuring inclusivity for students from diverse academic backgrounds.
Practical Training with Industry-Leading Tools
Students gain experience with Bloomberg Terminal in our Bloomberg Lab, and Python/R/MATLAB, etc., so that they are workforce-ready upon graduation.
- The MSFRM curriculum requires a minimum of thirty (30) credit hours of specified graduate coursework.
- Students may be required to take up to an additional four-and-half (4.5) prerequisite credit hours, if they do not have an undergraduate degree in business or experience in designated areas.
- Pre-requisite Courses may be waived for students who have satisfactorily completed undergraduate courses in the designated discipline or have significant work experience in the field. Work experience must be evaluated and approved by the MSFRM Program Director and/or the Dean.
- MSFRM Program Course Layout: Twenty-seven (27) credit hours of MSFRM Core Courses, and three (3) credit hours of a Risk Management Capstone course.
Program Delivery Formats
The MS in Financial Risk Management program is delivered in a flexible hybrid format to accommodate diverse learning preferences and schedules.
Careers
Financial Risk Management is a field that has posted and is currently experiencing high growth. The U.S. Bureau of Labor Statistics estimates this field to grow at a much faster rate than other fields. The need for financial risk managers extends beyond the financial industry.
Financial markets today are becoming increasingly complex and intertwined due to megamergers and frequent crises. Businesses, banks, and trading houses, therefore, need risk management professionals to understand and manage risks emanating from such a complex business environment. This also generates 鈥渂ig data,鈥 which needs to be analyzed by risk management professionals to identify patterns and detect trends that may be used to increase revenue.
Accordingly, our curriculum is heavy on financial data analytics, although that term is not explicitly stated in any of the course titles. Another area that puts risk management professionals in high demand is regulatory compliance, both at financial and non-financial institutions. Our curriculum provides coverage of regulatory compliance as well.
The influence of technology is increasing at a rapid pace in the financial industry, thereby creating a need for risk management professionals who are proficient in handling and working around such 鈥渢ech-tools." To address this need, our proposed curriculum is also heavy on FinTech (Financial Technology), with coverage of Artificial Intelligence (AI) and Machine Learning (ML) applications in finance.
Typical Job Titles
- Director, Credit Risk
- Director, Treasury Management Compliance and Controls
- Director, Operational Risk Management
- Manager, Internal Audit
Accreditation
The School of Business is accredited by AACSB International.
