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Risk Management


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Areas of Concentration

M.S. in Risk Management​ takes 30 credits to complete, if a student has met all prerequisites. Students choose one of three areas of concentration. Each concentration is designed to strengthen your core skill sets while broadening your reach across disciplines.

Finance Concentration
Develops the finance practitioner's knowledge of financial, statistical, and analytical tools to identify, quantify, and mitigate a variety of risk types, and an understanding of GAAP and IFRS accounting rules and the regulatory environment - excellent preparation for the series of CFA exams.

Accounting Concentration
Strengthens the accountant's ability to identify, measure, and manage risk across businesses, specific transactions, and assets and liabilities - satisfies the New York State CPA 150/30 credit requirement for CPA licensure.

Dynamic Financial Analysis Concentration
Enhances the quantitative analyst's financial tools by deepening an understanding of capital markets. Students will design models for a variety of risk management applications, such as risk monitoring, risk aggregation, actuarial models, hedging models, and asset-liability management.  

Required Courses in Risk Management

All courses are 3 credits. Students in all concentrations will take a common capstone course to complete the program.

Accounting Concentration
(30 credits)
  Finance  Concentration
(30 credits)
  DFA Modeling Concentration(30 credits)
RM 701 Enterprise Risk Management(Fall)

RM 701 Enterprise Risk Management (Fall) RM 701 Enterprise Risk Management (Fall)
RM 705 Risk Transfer to Financial Markets (Fall, Spring) RM 705 Risk Transfer to Financial Markets (Fall, Spring)
RM 705 Risk Transfer to Financial Markets (Fall, Spring)
RM 706 Risk Transfer to Insurance Markets (Fall, Spring, Summer) RM 706 Risk Transfer to Insurance Markets (Fall, Spring, Summer) RM 706 Risk Transfer to Insurance Markets (Fall, Spring, Summer)
ECO 715 Advanced Corporate Finance (Fall, Spring) RM 702 Accounting for Risk Management (Fall) ECO 715 Advanced Corporate Finance (Fall, Spring)

RM 704 Risk Measurement (Fall) RM 704 Risk Measurement (Fall)
RM 713 Advanced Derivatives (Spring) 
(Prerequisite:​ RM705)
ACC 712 Advanced Financial Accounting Theory (Fall, Spring) RM 707 Financial Statement Analysis & Credit Risk Management (Spring)
(Prerequisite: RM702)
CSCI 761 Numerical Methods (Spring)
ACC 723 Advanced Auditing Theory and Practice (Fall, Spring)

RM 708 Financial Econometrics (Spring) (Prerequisite: RM704) RM 708 Financial Econometrics (Spring)
ACC 747 Communications and Accountants (Fall, Spring)

RM 709 Portfolio Management (Spring) RM 709 Portfolio Management (Spring)
ACC 757 Taxation of Business Entities (Fall, Spring)

RM 710 Fixed Income Instruments (Fall) RM 710 Fixed Income Instruments (Fall)
RM 790 Applied Dynamic Financial Analysis (capstone) (Spring) 
(Prerequisites:​ RM701, RM704)
RM 790 Applied Dynamic Financial Analysis (capstone) (Spring) 
(Prerequisites: RM701, RM702, RM704)
RM 791 Applied Dynamic Financial Analysis (capstone) (Spring) 
(Prerequisites:​ RM701, RM705)


At the end of each semester, any student with less than a 3.0 will receive a warning and must bring the average back up to a 3.0 in the following semester or be dismissed from the program
.​ ​ 

RM711 (Applied Financial Analysis) is a pre-requisite for those students entering the Accounting and Finance track (unless you can show sufficient evidence of programming knowledge) and should be taken early in your program. RM711 takes a hands-on approach to financial modeling and makes extensive use of Microsoft Excel and VBA.

Program Electives

Students who have deemed by the program director to have covered sufficient material in their undergraduate program to be exempt from one or more of their required courses should substitute courses from one of the other concentrations or may choose from the additional electives listed below:

ACC 707 Contemporary Issues in Management Accounting (Fall, Spring)
ACC 748 Advanced Accounting Information Systems (Fall, Spring)
ACC 752 Business Law (Fall, Spring)
CSCI 780 Special Topics in Computer Science
MATH 621 Probability (Fall) 
Prerequisite Math 201, Calculus, or equivalent and an introductory course in probability.

MATH 622 Operations Research 
Prerequisite Math 241, Introduction to Probability and Mathematical Statistics, or equivalent.

MATH 633 Statistical Inference (Spring) 
Prerequisite Math 201, Calculus or equivalent and Math 611, Introduction to Mathematical Probability, or 621, Probability, or an undergraduate probability course which includes mathematical derivations.

MATH 635 Stochastic Processes (Fall) 
Prerequisite Math 611, Introduction to Mathematical Probability, or 621, Probability

MATH 650.3 Topics in Mathematical Finance (Spring)
RM 712 Macroeconomic Risk Management and Corporate Strategy
RM 792 Special Topics in Risk Management

GEOL 799 Enviromental Risk Management


Note: Electives not on the list may be substituted with permission of the program director.

​​
 

 Office Information

 

Office Hours:

Monday- Thursday - 11am-7pm

Friday - 10am-6pm
For more information, please contact Elvira Casper at
elvira.casper@qc.cuny.edu




Program Director:

Cara Marshall, PhD

Student Office Hours Fall 2017

Tuesday - 7:30pm-9:30pm

Wednesday - 9:20pm-10:00pm

Also available by appointment
Powdermaker Hall, Room 306F
(718) 997-5387

cara.marshall@qc.cuny.edu​



Program Coordinator:

Elvira Casper
Powdermaker Hall, Room 331
(718) 997-5507
elvira.casper@qc.cuny.edu


 

 

 

 
 
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