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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 four 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. 
 

Actuarial Studies Concentration
Prepares students to become actuaries and enhances the student’s financial, accounting, risk measurement, and financial modeling expertise.  Curriculum is aligned with many of the industry's core actuarial exams.  


Advanced Certificate in Risk Management (12 credits)

Students who wish to pursue an Advanced Certificate in Risk Management may apply to this program.  The advanced certificate gives students exposure to the growing field of risk management.  It is also useful for students who have already earned an MBA or some other graduate degree, but wish to specialize in Risk Management.  To complete the Advanced Certificate, the following three courses are required: RM701, RM704, and RM711.  Additionally, one elective course must be chosen from the following: RM702, RM705, RM706, or RM707.


Required Courses in the M.S. in Risk Management
All courses are 3 credits. Students in all concentrations will take a common capstone course to complete the program.

Accounting
Concentration
Finance
Concentration
DFA Modeling
Concentration
Actuarial Studies Concentration
RM701 Enterprise Risk
Management (Fall)
RM701 Enterprise Risk Management (Fall) RM701 Enterprise Risk Management (Fall) RM701 Enterprise Risk Management (Fall)
RM705 Risk Transfer to
Financial Markets
 
(Fall, Spring)
RM705 Risk Transfer to Financial Markets 
(Fall, Spring)
RM705 Risk Transfer to
Financial Markets
 
(Fall, Spring)
RM705 Risk Transfer to Financial Markets 
(Fall, Spring)
RM706 Risk Transfer to
Insurance Markets
(Fall, Spring, Summer)
RM706 Risk Transfer to Insurance Markets
(Fall, Spring, Summer)
RM706 Risk Transfer to
Insurance Markets
(Fall, Spring, Summer)
RM706 Risk Transfer to Insurance Markets
(Fall, Spring, Summer)
ECON715 Advanced Corporate Finance 
(Fall, Spring)
RM702 Accounting for Risk Management (Fall) ECON715 Advanced
Corporate Finance 
(Fall, Spring)
ECON715 Advanced Corporate Finance 
(Fall, Spring)
RM704 Risk 
Measurement 
(Fall)
RM704 Risk Measurement (Fall) RM713 Advanced Derivatives (Spring) 
(Prerequisite:​ RM705)
RM704 Risk Measurement (Fall)
ACC712 Advanced Financial
Accounting Theory
(Fall, Spring)
RM707 Financial Statement Analysis & Credit Risk Management (Spring) (Prerequisite: RM702) CSCI761 Numerical Methods (Spring) RM702 Accounting for Risk Management (Fall)
ACC723 Advanced Auditing 
Theory and Practice
 
(Fall, Spring)
RM708 Financial 
Econometrics (Spring)
RM708 Financial 
Econometrics (Spring)
MATH621 Probability (Fall)
ACC747 Communications
and Accountants 
(Fall, Spring)
RM709 Portfolio Management (Spring) RM709 Portfolio Management (Spring) RM708 Financial 
Econometrics (Spring)
ACC757 Taxation of 
Business Entities 
(Fall, Spring)
RM710 Fixed Income Instruments (Fall) RM710 Fixed Income Instruments (Fall) RM710 Fixed Income Instruments (Fall)
RM790 Applied Dynamic Financial Analysis (capstone) (Spring) 
(Prerequisites:​
RM701, RM704)
RM790 Applied Dynamic Financial Analysis (capstone) (Spring) 
(Prerequisites:​ RM701, RM704)
RM791 Applied Dynamic Financial Analysis (capstone) (Spring) 
(Prerequisites:​ RM701, RM705)
RM790 Applied Dynamic Financial Analysis (capstone) (Spring) 
(Prerequisites:​ RM701, RM704)


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 all four M.S. programs (unless you can show sufficient evidence of programming knowledge) and generally 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 programming.


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 - Friday - 8am-4pm

For more information, please contact Elvira Casper at elvira.casper@qc.cuny.edu




Program Director:
Cara Marshall, PhD

Student Office Hours Fall 2018

Wednesday - 9:20pm-10:00pm

Thursday - 7:30pm-9:30pm

Also available by appointment

Powdermaker Hall, Room 310B
(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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