The Master of Science in Financial and Enterprise Risk Management (MSFERM) degree prepares students to develop and direct investment strategies and manage the financial risk of firms, institutions, and private clients. Many students completing the MSFERM degree program look for positions in finance or risk management upon graduation. Students may elect to continue their studies and complete the Concentration in Quantitative Methods in Risk Management (QRM). Some graduates choose to pursue a Ph.D. in areas such as finance, mathematics or economics. The optional concentration in QRM is coursework-based and provides deeper training in programming and financial modelling with computer and software applications. Students must complete a minimum of 33-36 credits. The program may be completed part-time or full-time. Students must complete an Experiential Learning Requirement prior to graduating.
Required Courses
Course List
| Course |
Title |
Credits |
| FNCE 5310 | Introduction to U.S. Capital Markets 1 | 3 |
| FNCE 5312 | Risk Management of Financial Institutions | 3 |
| FNCE 5313 | Introduction to Econometric Analysis for Risk Managers | 3 |
| FNCE 5321 | Financial Time Series and Volatility Modeling | 3 |
| FNCE 5322 | Risk Management in Equity Markets | 3 |
| FNCE 5323 | Advanced Issues and Applications in Risk Management I | 3 |
| FNCE 5331 | Advanced Topics in Derivatives Pricing | 3 |
| FNCE 5332 | Risk Management in Fixed Income Markets | 3 |
| FNCE 5333 | Applications in Enterprise Risk Management II | 3 |
| FNCE 5334 | Risk Management Project | 1.5 |
| FNCE 5341 | Risk Management in Credit Markets | 3 |
| FNCE 5343 | Legal and Ethical Issues in Financial Risk Management | 3 |
| FNCE 5344 | Enterprise Risk Management | 1.5 |
| Total Credits | 36 |
Experiential Learning Requirement
Students are required to complete an Experiential Learning Requirement (ELR).
Concentration in Quantitative Methods in Risk Management (QRM)
The concentration in QRM requires students to complete an additional nine credits beyond the requirements for an FRM degree. The Concentration includes two courses on advanced and quantitative applications in Financial Modelling and Financial Engineering and a comprehensive course on Enterprise Risk Management (ERM). The following courses are required to complete the concentration:
Course List
| Course |
Title |
Credits |
| FNCE 5351 | Excel Visual Basic Applications in Financial Risk Management | 3 |
| FNCE 5352 | Financial Programming and Modeling | 3 |
| FNCE 5353 | Fintech Applications in Risk Management | 3 |
Accelerated Financial and Enterprise Risk Management MS
Undergraduate students enrolled in Finance or other related majors (including other business majors, Economics, Actuarial Science, and Mathematics) may apply for the Accelerated track during their junior year. Students must go through a competitive admissions process, and if accepted into the track, will have to take and pass FNCE 5333 Applications in Enterprise Risk Management II and either FNCE 5322 Risk Management in Equity Markets or FNCE 5323 Advanced Issues and Applications in Risk Management I as part of their undergraduate studies. Up to 12 credits of the required graduate coursework taken as an undergraduate may be used toward both the Bachelor’s and Master’s Plans of Study. This allows students to complete their M.S. in one additional year after completing their Bachelor’s degree. Students who take FNCE 4306 Financial Services or the equivalent as an undergraduate, as approved by their advisory committee, will be exempted from FNCE 5310 Introduction to U.S. Capital Markets, thus reducing by three credits the number of credits that they need for the M.S.
