Official Program Description
The Master of Science in Finance and Risk Management (FRIM) Program is designed to produce experts in the management of financial products and portfolios, in analysis and management of banking and financial risk and, more generally, of corporate economic risk, in management of financial institutions, and in analysis and management of insurance risk.
Graduates in Finance and Risk Management (FRIM):
- acquire a thorough knowledge of mathematical calculation tools applied to the economy of financial products and markets, finance, and insurance as well as specialized knowledge of company risk models employed by banking, financial and insurance analysts; in addition, they gain statistical knowledge that enables them to process data and estimate economic relationships;
- acquire the knowledge and understanding necessary to apply such methodologies and tools to the field of finance in terms of analysis of international scenarios, implementation of decision models in financial markets and in company management, and analysis and development of the management processes typical of the different categories of financial intermediaries;
- develop the capacity for independent judgment regarding issues of company financial management and risk management and the modeling of financial markets, thus being able to efficiently interpret and process the information and data acquired;
- develop the ability to communicate, both within companies and to a non-specialized public, information about the performance of financial markets, the use of alternative financial tools and banking and insurance risk management;
- acquire the ability to organize independently the life-long learning process now required by professions because of the changed economic context, to investigate issues connected with the use of specific financial tools or the functioning of specific markets, as well as the opportunity of going on to Doctorate and second-level Master’s courses on economic and business studies.
Possible career opportunities for graduates in Finance and Risk Management include:
- asset management companies, financial supervisory organizations, and financial rating companies;
- technical offices and planning offices of organizations and companies in the financial system;
- consulting activities in the financial and insurance area, management of company risks and insurance processes;
- portfolio management, financial analysis services;
- financial management of industrial and business companies;
- the profession of Chartered Accountant after passing the state exam.
Operators in these different fields are constantly consulted in order to ensure that the course content corresponds to the professional profiles required by the market.
The course is open access (without programmed number).
The curricular requirements required for access correspond to the basic content of degree courses in class L-18 (ex 270/04), 17 (ex 509/99), L-33 (ex 270/04) and 28 (ex 509/99).
Graduates with a Bachelor degree obtained with a score of degree greater than or equal to 95/110 in one of the following classes of Degree:
- L-18 (ex 270/04) or 17 (ex 509/99)
- L-33 (ex 270/04) or 28 (ex 509/99)
can directly access.
Graduates with a Bachelor degree obtained with a score of less than 95/110 degree in one of the following classes of Degree:
- L-18 (ex 270/04) or 17 (ex 509/99)
- L-33 (ex 270/04) or 28 (ex 509/99)
and graduates holding a foreign degree equivalent to a bachelor degree or higher Italian, regardless of grade, subject to the procedure provided by the current legislation for qualifications obtained abroad, can access, after passing an admission test for the assessment of individual preparation (DM 270/04).
KEY LEARNING OUTCOMES
The Master of Science in Finance and Risk Management (FRIM) Program was designed with the principal objective of training professionals expert in the management of financial products and portfolios, the analysis and management of banking and financial risk, and, more in general, of corporate economic risk, the management of financial institutions, and the analysis and management of insurance risk.
Particular attention will be dedicated to management roles emerging in the sector of private pension, whose importance is increasing due to the planned reduction of public pension benefits. At the end of the course, FRIM graduates will have mastered the principal themes in the financial area, in particular as regards financial markets and the formation of prices of financial and derivative instruments, the management of financial investments and the measurement and management of financial risk, management and legislation applied to financial intermediation, the management of capital value in financial intermediation, and the management of insurance risks.
FRIM graduates will be able to apply this knowledge and these tools to practical work in markets and financial institutions. The professional skills acquired will be hallmarked by a combination of techniques from the major subject areas (corporate, mathematical-statistical, economics and juridical), including the international dimension.
The academic syllabus is organized taking into account the fact that some roles in finance and risk management require considerable managerial knowledge, while in other roles it is necessary to be able to use quantitative analytical tools, in particular, those supplied by mathematical finance.
With regard to the corporate area, the academic course comprises the following themes: financial analysis, corporate financial risk management, risk management and insurance, financial statements for financial intermediaries, and the relevant accounting principles, marketing and business strategies for financial services, applied finance, risk management and value creation in banks and investment banking, and real estate finance.
As regards quantitative analysis, the following foundation areas are studied: risk management tools, techniques in insurance and life insurance, quantitative finance, computational and statistical methods applied to finance, asset-liability management (the latter is studied in an integrated approach, with mathematical and corporate methodologies). It is important to note that the study of such subjects is approached from an integrated viewpoint so that FRIM students possess knowledge of the most important areas of finance and risk management.
As regards the Economics area, the course includes the study of macro-financial analytical and forecasting methodologies, along with the history of financial markets in order to extend the students’ cultural profile. Lastly, students learn concepts regarding the law as applied to financial markets. The degree to which the course’s academic content corresponds to real necessities is constantly assessed with regard to scientific progress in the sectors of finance and risk management and by means of interaction with operators working on the market.
The latter will specifically be invited to play an active part in academic activities, by means of seminars, personal experience descriptions, and case studies.
Potential employment opportunities for Master of Science graduates in Finance and Risk Management include: savings management companies, supervisory authorities for the financial sector, financial rating companies; technical offices and planning offices in organizations and companies in the financial sector; consultancy in finance and life insurance, risk management in the corporate and insurance sectors; portfolio management, financial analysis services and the financial management of industrial and commercial companies. There are constant contacts with professionals in these fields in order to verify the correspondence between the course syllabus and the professional profile required by the market.
FINAL EXAMINATION, IF ANY
For the final examination, students are asked to prepare a final dissertation, under supervision by a course professor, consisting of a detailed study of themes treated in the course subject areas, developed both from the theoretical/conceptual point of view and by means of empirical observations.
This school offers programs in: