MSc in Risk Management
Pursue a career dealing with some of the hottest challenges in business today:
- Measure and manage risks related to trade receivables, borrowing, and production and supply costs.
- Identify operational risks in all areas of business.
- In pursuit of higher returns, reign in on growing market volatilities.
- Control the credit, capital and other financial risks inherent in banking and insurance institutions.
Join the ranks of the globally growing profession of risk management and help organizations in all industries become more resilient amidst unprecedented uncertainty.
Risk management is recognized as an essential business function for protecting the long term interests of creditors, shareholders, customers and society at large.
A specialist academic qualification in financial and operational risk management is now sought after by employers the world over.
In a world dominated by uncertainty, prudent managers must calculate the relevant risks before taking any decision. The MSc in Risk Management is designed to develop professionals equipped with the knowledge and the analytical skills that will enable them to identify, measure and manage the financial and operational risks latent in every investment, business decision or transaction.
The significant social costs paid by many societies due to the recent financial crisis, highlight the importance of effective risk management. Three pillars are currently recognized as essential for managing risk effectively: policies, methodologies and infrastructure. A common denominator of all three pillars is the need for risk-informed human resources.
Policies are designed, applied and monitored by managers who understand the dynamics and implications of tail risks. Rigorous methodologies are developed and validated by risk officers with the appropriate quantitative skills. Technology assists risk-educated managers to measure the risk of an asset or an asset portfolio, while financial innovation provides the tools for effective risk mitigation.
A state-of-the-art program designed for
- Graduates with a quantitative background in pursuit of a career in risk divisions of financial institutions, large corporations or investment companies.
- Managers who engage in risk taking activities
- Professionals responsible for monitoring risk and reporting to senior management.
- Management consultants specialized in risk solutions
- Regulation/compliance officers responsible for supervising business units, enterprises or financial system participants.
Duration of the Program: The program commences every September and its duration is 14 months. All courses are held in evening sessions from 18:00 till 22:00.
Contributing to the development of a risk aware business community
Hands-on: specialization courses are tailored to address pragmatic challenges faced by risk management practitioners.
Integrated: The modular structure of the curriculum ensures that the program is well balanced around four themes: competency in quantitative skills, knowledge of financial theory, advanced analytics, and ability to measure and mitigate risk.
Aware: Studying risk dynamics allows for a deeper understanding of the contagion mechanisms that created global financial crisis with significant impact on societies.
Innovative: the program offers the opportunity to study issues that differentiate from standard finance curricula such as the challenges faced by financial institutions, the role of regulation in promoting financial stability and the application of quantitative processes that focus on tail risks.
Through the MSc in Risk Management Program, you will:
- Develop an appreciation of financial & operational risks faced by financial institutions, corporations and market investors.
- Strengthen quantitative skills required for measuring the impact of extreme events.
- Learn to utilize the tools, methods and processes for managing risks.
- Understand financial theory and market dynamics.
- Become up to date with the latest trends and practices in risk regulation.
- Embrace values for sustainable and socially responsible decision making.
The MSc in Risk Management Applicant Profile
In order to apply for the MSc in Risk Management candidates should have a good quantitative background, with degrees in Business, Economics, Engineering or Science, a genuine interest in finance, leadership potential, good communication skills and ample motivation to succeed. In addition, since English is the language of instruction, it is essential that all participants have excellent command of the English language and to be currently employed (valid for the part time program only).
Candidates to be considered for this Program must submit the following documents:
- ALBA application form, including recent photograph in jpeg format (or two photos in print)
- Two letters of recommendation
- Official transcripts as well as certified copies of degrees from each undergraduate, graduate or professional degree earned. Applicants, who cannot obtain an official transcript in a reasonable time, may send a photocopy of unofficial transcripts as a temporary substitute in order to expedite the evaluation process
- Proof of competence in the English language. Candidates are required to either hold the Proficiency or take the TOEFL (100 minimum score-ALBA code 0942), or the IELTS (7.0 minimum score), unless their Bachelor's degree has been awarded from an English speaking academic institution
- Three Essays
- A minimum GMAT score of 550 is expected
- Receipt of the non-refundable application fee's [€60] deposit
Applications with one or more missing documents will not be processed until these documents are received. Admission to the Program is decided by the Admissions Committee on the basis of the qualifications and the applicant's personality and commitment.
*Tuition Fees for the entry year September 2015: €12,500 paid in installment. Special scholarships up to 40% on tuition fees and up to 50% on accommodation for International students.
Final Deadline of Admissions for International Students who require educational VISA: May 2015 Deadline for the Next Round of Admissions: May 2015
ALBA accepts applications all year round & candidates are encouraged to apply as soon as possible. However, applications received after the beginning of the program will not be reviewed for the current intake, but will certainly be reviewed for next year's intake.
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