Management, Rotman School: Financial Risk Management MFRM

The Master of Financial Risk Management (MFRM) program 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.

Master of Financial Risk Management

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.

Completion Requirements

  • Within this 10-month, full-time program (three sessions), students must successfully 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:

    • RSM6301H Topics in Financial Risk

    • RSM6302H Financial Markets, Risk, and Institutions

    • RSM6303H Regulation of Financial Institutions

    • RSM6304H Operational Risk

    • RSM6305H Credit Risk

    • RSM6306H Probabilistic Modelling for Risk-Informed Decisions

    • RSM6307H Macroeconomics for Financial Risk Management Professionals

    • RSM6308H Advanced Investments

    • RSM6310H Derivative Models for Risk Management

    • RSM6311H Rotman Risk Management Project

    • RSM6313H Innovations in Financial Technology

    • RSM6601H MFRM Self Development Lab.

Mode of Delivery: In person
Program Length: 3 sessions full-time (typical registration sequence: FWS)
Time Limit: 3 years full-time

 

Management, Rotman School of Management