The Master in Finance, Insurance and Risk Management aims to provide specialized learning in quantitative finance, and highly valuable professional expertise and skills in a wide array of fields. The program prepares graduates for a fulfilling career and high-level positions in the financial industry, including asset managers, brokerage and trading firms, commercial and investment banks, insurers, hedge funds, consulting firms, and financial advisors, risk management departments of major corporations along with official institutions such as central banks, sovereign wealth funds, regulators, governments and international financial organizations. The outstanding academic background provided by the program allows graduate students fast-track access to PhD programs in finance.


A limited number of tuition fee waivers and scholarships will be awarded to applicants according to the admission ranking.

Program Strengths

  • A Master placed in the Global Top 50 Eduniversal Best Masters Ranking by field.
  • A truly international Master’s degree program taught entirely in English in a premier research institution, Collegio Carlo Alberto.
  • The award of a second level Master in Finance, Insurance and Risk Management degree from the University of Torino.
  • A fast-track access to the PhD Programme in Finance at Cass Business School in London.
  • A highly experienced Faculty from Italian and foreign universities, alongside the experience of leading finance and banking professionals.
  • Everyday contact with the scholars and researchers of Collegio Carlo Alberto and access to the many scientific activities and events hosted at the Collegio.
  • Excellent scholarship and funding opportunities.
  • Career days and the opportunity to establish contacts with major financial institutions, insurers, major companies and research centres.
  • Link to an outstanding network of our Alumni.


  • Statistical and Programming Tools for Finance
  • Mathematics for Finance
  • Probabilistic and Stochastic Calculus
  • Numerical Methods

Common Track

  • Portfolio Choice and Asset Pricing
  • Econometrics
  • Derivatives
  • Fixed Income
  • Market Risk
  • Credit Risk
  • Econometrics for Financial Markets

Finance Track

  • Quantitative Asset Allocation
  • Advanced Option Pricing
  • Credit Derivatives Pricing
  • Corporate Finance

Insurance and Risk Management Track

  • Risk Management in Insurance
  • Treasury Risk Management
  • Internal Ratings Based Modelling and Stress Testing
  • The Economics of Risk in Insurance
  • Life Insurance
  • Non-Life Insurance
  • Solvency II


  • Systemic Risk Management
  • Portfolio Analysis and Benchmarking
  • It for Financial Institutions
  • Banking Law and Regulation
  • Private Banking
  • Hedge Funds and Alternative Assets
  • Equity Derivatives
  • Hedging Strategies for Segregated Funds
  • Insurance Demand and Supply
  • Longevity Risk: Theory and Markets
  • Solutions for Solvency Ii
  • Operational Risk Management
  • Financial Engineering of Energy and Commodity Markets
  • Big Data Analytics and Data Mining


Placement record for previous graduates is excellent and includes a large variety of firms, banks, and organizations in the financial industry such as:

ADB SpA, AIB Bank, Allianz Bank, Banca IMI, Banca d’Italia, Bancoposta Fondi sgr, BIM, BIP, BNP Paribas, Banca Aletti, Banco Ambrosiano Veneto, Banca Antonveneta, Banca Centrale Europea, Banca Leonardo, Banca Profilo, Banca di Roma, Banca Sella Banca 121, Capitalia, Citigroup, Cofiri Commerzbank AG, Compagnia di San Paolo, Crédit Agricole, Deutsche Bank, Enel, ERSEL, Eurizon European Bank for Reconstruction and Development, Ferrero Spa Finance, Fiat Finance, Fideuram, Finanziaria Internazionale Securitization Group, Fitch Ratings, Fondiaria SAI, IASON, Intesa Sanpaolo, JP Morgan Luxembourg, Jp Morgan di Londra, KPMG, Mediolanum, Macedonia Ministry of Finance, Money Farm, Monte dei Paschi di Siena, Nextra Sgr, Pioneer Investments PricewaterhouseCoopers, Prometeia, Royal Bank of Scotland, State Street Bank, Symphonia sgr, TLX SpA, UBI, UBM, UniCredit,

Program taught in:
  • English

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Last updated March 14, 2019
This course is Campus based
Start Date
1 year
15,000 EUR
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