The Master of Science in Financial Risk Management gives you a comprehensive, foundational knowledge of current risk management issues, methodologies, and challenges that position you for successful career in risk management at a variety of financial institutions.
With an MS in Financial Risk Management, you will gain an in-depth look at the core areas of risk management, including interest rates, markets, credits, foreign exchanges, and more. You will also develop a strong understanding of derivatives, and learn how to use analytical and quantitative models and methodologies in risk management. The cumulation of your knowledge can be applied to current issues and developing challenges in the field of risk management.
The BBA and Master of Science Programs in Finance and in Financial Risk Management at the Zicklin School of Business at Baruch College are part of the CFA Institute University Affiliation Program.
This status is granted to institutions whose degree programs incorporate at least 70 percent of the CFA Program Candidate Body of Knowledge (CBOK), which provide students with a solid grounding in the CBOK and positions them well to sit for the CFA exams.
The CFA Institute aims to lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society. Its Chartered Financial Analyst designation is among the most prestigious in the finance world.
- 30 credits
- Standard completion time: 3 semesters
- Prepares students for professional certification exams in financial risk management
Designed with Your Goals in Mind
The elective options offered within the MS in Financial Risk Management help you customize your study to meet your career goals — whether you’re looking to begin your career in risk management, or are a more seasoned professional looking to take your career to the next level. You will gain a solid foundation in all areas of financial risk management and deepen your expertise with courses that address current risk management tools, methodologies, and techniques
The program prepares you to sit for the professional certification tests of the leading professional financial risk management associations, including:
- Financial Risk Manager (FRM) certification of the Global Association of Risk Professionals (GARP)
- Professional Risk Manager (PRM) certification of the Professional Risk Managers International Association (PRMIA)
Note: MS in Financial Risk Management is not a prep program for the above certification exams. While certain courses in the program cover the main knowledge areas covered by these certification exams, they also cover other topics not required for these exams while not covering certain topics that are required for these exams.
Visa Extension for STEM International Students
The MS in FRM conforms to the U.S. Department of Homeland Security’s STEM (Science, Technology, Engineering, Math) program that qualifies eligible international graduates on student visas for an optional practical training extension of 24-months. Find out more here.
This curriculum is effective for students entering in Spring 2020. Students who entered prior to Spring 2020 should review the Graduate Bulletin or contact a program advisor to confirm their degree requirements.
Based on your academic background, you may be required to take preliminary courses from the following list. These courses are not part of the 30-credit MSFRM curriculum. lease note that the Certified Financial Analyst® (CFA) charter is not sufficient to waive preliminary requirements.
|Course #||Course Title||Credits|
|ECO 9730||Fundamentals of Microeconomics, or equivalent||1.5|
|ECO 9740||Fundamentals of Macroeconomics, or equivalent||1.5|
|FIN 9762||Introduction to Quantitative Tools for Finance, or equivalent||3|
|FIN 9770||Financial Decision Making, or equivalent||3|
Typical Waiver Criteria for Preliminary Courses
|Course #||Undergraduate equivalent||Graduate Equivalent||Min Grade||Time limit||Accreditation of the School|
|ECO 9730||1.5 cr. micro or 3 cr. micro + macro||1.5 cr. micro or 3 cr. micro + macro||B-||5 years||Regional|
|ECO 9740||1.5 cr. macro or 3 cr. micro + macro||1.5 cr. macro or 3 cr. micro + macro||B-||5 years||Regional|
|FIN 9762||6 cr. statistics or econometrics||3 cr. statistics or econometrics||B||3 years||Regional|
|FIN 9770||6 cr. financial management, corporate finance, or investments||3 cr. financial management or corporate finance||B||3 years||Regional|
Note: Waiver criteria are current for students entering in Spring 2019 and are subject to change.
Total Required Credits: 22.5
|Course #||Course Title||Credits|
|BUS 9551||Business Communication I||1.5|
|ECO 9723||Econometrics Theory and Applications I||3|
|FIN 9783||Investment Analysis||3|
|FIN 9795||Debt Instruments and Markets||3|
|FIN 9797||Options Markets||3|
|FIN 9852||Measurement and Management of Market Risk I||1.5|
|FIN 9853||Measurement and Management of Market Risk II||1.5|
|FIN 9854||Measurement and Management of Credit Risk I||1.5|
|FIN 9855||Measurement and Management of Credit Risk II||1.5|
|FIN 9856||Measurement and Management of Risks in Operations and Information Technology||1.5|
|FIN 9857||Measurement and Management of Risks in Investments||1.5|
Choose 7.5 credits from the following list
|Course #||Course Title||Credits|
|ECO 9713||Money, Banking, and Monetary Policy||3|
|ECO 9724||Econometrics: Theory and Applications II||3|
|FIN 9759||Mergers and Acquisitions||3|
|FIN 9774||Venture Capital and Entrepreneurial Finance||3|
|FIN 9781||Managerial Finance||3|
|FIN 9782||Futures and Forward Markets||3|
|FIN 9784||Management of Financial Institutions||3|
|FIN 9786||International Financial Markets||3|
|FIN 9788||International Corporate Finance||3|
|FIN 9789||Equity Markets: Trading and Structure||3|
|FIN 9790||Seminar in Finance||3|
|FIN 9792||Advanced Managerial Finance||3|
|FIN 9793||Advanced Investment Analysis||3|
|FIN 9858||Implications of Corporate Governance, Regulation, and Ethics for Risk Management||1.5|
|FIN 9880||International Financial Markets||1.5|
|FIN 9881||Debt Securities||1.5|
|FIN 9882||Futures and Forwards||1.5|
|FIN 9884||Venture Capital||1.5|
|FIN 9891||Special Topics in Investments||1.5|
|FIN 9892||Special Topics in Investments||2|
|FIN 9893||Special Topics in Investments||3|
|FIN 9895||Special Topics in Corporate Finance||1.5|
|FIN 9897||Special Topics in Corporate Finance||3|
|FIN 9985||Risk Management in Financial Institutions||3|
Note: Course offerings vary from semester to semester.
Here are a few examples of Special Topics and Seminar in Finance courses offered in recent years:
- Valuation of the Firm
- Crypto-Currency Markets & Trends
- Equity Analysis
- Credit Analysis
- Municipal Bond Markets
- Hedge Funds
- Financial Statement Analysis
- Convertible and Risk Arbitrage
- US Financial Crisis: How It Happened and Why It Matters?
- How do you manage a financial business?
Office of Graduate Admissions
Visitors: 151 E. 25th St. Room 820 (between Lexington and 3rd Avenues)
Mail: One Bernard Baruch Way, Box H-820, New York, NY 10010
Phone: (646) 312-1300
Fax: (646) 312-1301
Website: Zicklin Graduate Admissions