Official Master's Degree in Financial Risk Management (MUGRF)


Submission of applications:
Start: November 24, 2017

 

Duration:
1 year (Full-time study)
 


Information session
Coming Soon program and register

Credits 60 ECTS
Spanish

The Official Master's Degree in Financial Risk Management is offered by the Faculty of Economics and Business Administration at Comillas Pontifical University (ICADE), through ICADE Business School.

Its main aim is to provide specialized training oriented to professional roles in the field of risks.

This Master's program is taught on a full-time basis and structured into four modules.

The first one encompasses core training aimed at gaining a thorough understanding of the theoretical background necessary to work as a financial risk manager.

The second one provides the students with specialized knowledge that is specific to the field.

The third and fourth modules cover the Master's dissertation and the in-company internship in the sector, respectively.

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Brochure

Length and timetable

The Master's program is scheduled to start in October 1 2018 and end in July 2019.
The timetable is designed to enable students to work and study at the same time. 1rst term from 17:00 to 22:00, 2nd term from 18:00 to 22:00

Number of credits

60 ECTS

Attendance mode

Full time.

Language

Spanish.

Classes begin on

Classes will begin on Monday, October 1, 2018.

Submission of applications

The deadline for submitting applications begins on November 24, 2017.

Information notice on the documents to be submitted

Admission Tests

The dates of admissions test shall be established by the programme directors, who shall be in charge of getting in touch with the relevant candidates.

Open Days

March 17

June 9

Information session

Coming Soon program and register

Applicant Profile

This Master´s degree is aimed at university graduates who wish to focus their career on the financial sector, gaining specialized and up-to-date training in financial risk management. This training will provide high added value to those who go on to work in financial institutions, consultancy firms, in the insurance sector and the most regulated sectors, such as energy or telecommunications.

It is both suitable for students who have recently finished their studies and those who have professional experience and wish to add this specialist training to their CV.

The abilities largely required by the student are maturity and analytical skills. The attitudes required are motivation, a commitment to work and an appreciation of ethical values.

The Master´s program is particulary suited for those with degrees in economics, business administration or studies that provide solid quantitative training (engineers, technical engineers, those with degrees in mathematics, physics and statistics).

The program is taught in Spanish and therefore an advanced level is required in this language. At the same time, an intermediate level of English is required in order to consult documentary sources and to responde to the requirements stated by companies, both for the course internship and professional opportunities.

Requirements:

To be admitted, applicants to the Official Master's Degree in Financial Risk Management must be able to provide proof of (or justify that they will soon be awarded) the following:

  • An Official Bachelor's Degree issued by a Spanish university (or by a higher education institution within the European Higher Education Area)*
  • A Bachelor's Degree compliant with education systems outside the European Higher Education Area that is not accredited*
  • A Licentiate Degree, a Degree in Engineering or a Degree in Architecture compliant with the university system existing before the one set forth by Royal Decree 1393/2007.

*Preferably in the fields of Economics or Business Administration

Admission process and criteria:

Admission to this Official Master's Degree in Financial Risk Management is granted by the Dean of the School of Business and Economics, at the proposal of the Deputy Sub Committee on Admissions, formed by the Director of ICADE Business School and the Director of the Master's Degree in Financial Risk Management 

Admissions must be submitted within the time frame stated, in a standard format and accompanied by all of the documents which certify the fulfilment of the entry requirements.

With the purpose of stating whether a candidate is eligible for the Official Master's Degree in Financial Risk Management, the following assessment criteria shall be considered:

  1. Academic record.
  2. The results of a personal interview with the programme Director or the person appointed by them. These two tests shall have the status of admission test.
  3. Certification of a level of proficiency in English that is equivalent or higher then B1 (common European framework).
  4. Certification of a level of proficiency in Spanish that is equivalent or higher then C (common European framework).
  5. Any other test intended to verify the candidate's analytical skills, their speech understanding, their learning capacity or their previous knowledge.

Graduates in Economy, Business Administration, Statistics, Mathematics, Engineering or Physics do not need to undergo tests regarding previous knowledge. Candidates that come from other programmes must certify their knowledge in the area of statistics by means of the tests carried out specifically for this purpose.

Assessment of the request for admission to the Official Master's Degree in Financial Risk Assessment shall be obtained from joint assessment of the different requirements. Final admission is established in function of the position of the candidate with regard of global assessment of their academic record with respect to the other candidates and with the number of places available.

The following table specifies weighting of different admission criteria and requirements:

CRITERIONASSESSMENTWEIGHING
Academic record and complementary tests. Average mark
Result obtained in complementary tests (when appropriate)
70%
Personal interview Assessment of maturity though listening, arguing and debating skills.

Motivation letter

Personal circumstances and commitments as reflected by the time that they may invest on studying.
20%
Level of English   10%

Support program for students with disabilities

Fees:

Master's fees: EUR 16,530

Registration: EUR 2,235.60

Installments: 8 x EUR 1,786.8

Grants

If you are an alumni, you are entitled to 10% discount.

Information about grants and financial aid.

Information point:

ICADE Business School
C/ Rey Francisco, 4
Tel. 91 559 20 00
email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Director

Prof. Dra. Susana Carabias López

Objectives

The main objective of this Degree is to offer post-graduate level training in the specialised area of Integral Risk Management.

As a professional-oriented Masters' Degree, it is aimed at the student acquiring the appropriate knowledge and skills needed for professional performance in the area of Risk Management. Besides, pursues the development of a series of values and attitudes that shall be reflected in the quality of their work in the different professional scopes where they are to develop their career.

Methods

This Master's Degree is taught by a combination of different training methods: masterclasses and lectures, seminars and individual mentoring. In this environment, students prepare presentations and take part in structured discussions.

In-person lessons are supplemented by autonomous learning by the student, who shall be able to assess themselves and deepen further into the proposed issues.

GENERAL SKILLS  

  • Analysis and synthesis capacity.
  • Ability to manage information from several sources.
  • Problem-solving and decision-making.
  • Organization, planning and time management capacity.
  • Advanced computer skills applied to the relevant field of study.
  • Interpersonal skills: listening, arguing, discussing.
  • Leadership and team working capacity
  • Critical and self-critical capacity.
  • Ethical commitment.
  • Capacity to adapt to changes
  • Initiative and entrepreneurship.

SPECIFIC SKILLS  

  • In-depth understanding of the concept and type of risks from a business approach.
  • Awareness of the importance of risk management functions within a company.
  • Deep knowledge and understanding of complex financial products and specific products used in risk management, as well as the particular characteristics of markets where such instruments are negotiated.
  • Knowledge in advanced statistical models related to risk analysis.
  • Familiarity with the most used risk measurements and their properties.
  • Knowledge and application of main advanced statistical tools for data analysis.
  • Knowledge and application of linear regression analysis statistical models.
  • Knowledge of classic models for valuation of equity financial assets.
  • Knowledge and correct application of principles for valuation and management of equity portfolios.
  • Knowledge and correct application of principles for valuation and management of derivative assets.
  • Knowledge of the concepts and tools for time series analysis and models for stochastic volatility models.
  • In-depth study of the concept of market risk and proficiency on calculation methods most used in professional practice.
  • In-depth study of the concept of liquidity risk and proficiency on calculation methods most used in professional practice.
  • In-depth study of the concept of credit risk and proficiency on calculation methods most used in professional practice.
  • In-depth study of the concept of operational, strategic and legal risk and proficiency on calculation methods most used in professional practice.
  • Ability to reconcile a company's global strategy with its particular risk management strategy, being aware of its impact on the different operational areas.
  • Knowledge and management of advanced specific software for analysing the necessary information to carry out a professional management of risk.
  • Identification of any possible ethical issue generated in the corporate environment and justification that the best possible solution has been chosen.
  • Awareness and knowledge of basic concepts regarding insurance and insurance market.
  • Use and application of the development of an actual business practice of the different practical and theoretical knowledge acquired on the course of this programme.

The Official Master's Degree in Financial Risk Management has a programme including 60 ECTS credits distributed in the following manner:

  • 29 ECTS credits distributed along the first semester, and intending to offer students a first outlook in financial risk management, as well as training in professional ethics, methodological training in statistics and financial products, and its application by means of software tools.
  • 27 ECTS credits distributed along the second semester. Out of those, 23 correspond to compulsory subjects that offer specialised training in analysis and management of each type of risk. The 4 remaining credits correspond to elective courses thanks to which students may acquire complementary skills.
  • 6 ECTScredits of training though internships in companies.
  • 6 ECTS credits corresponding to the End of Master Project, which shall be presented at any date after in-person lessons of the second semester, are concluded.

In-person lessons are estimated to be concluded in the last weeks of May. From that moment on, the student's tasks are limited to submitting and defending the End of Master Project and finishing their internship, when it has not been finished before.

Evaluation activities are distributed along the two semesters and are highlighted in the relevant time schedule. Extraordinary exams shall be taken over the first two weeks of June.

Academic Calendar of the Official Master's Degree in Financial Risk Management

General University Academic Calendar

Academic Year 2017 -2018

1st Semester

2nd Semester

Subject distribution in semesters, credits and specialisation are specified below.

SEMESTER 1SUBJECTSCREDITS

Compulsory credits

- Basic principles of risk identification and management
- Quantitative models for risk assessment
- Multi-variant analysis
- Financial assessment
- Financial markets and products
- Herramientas informáticas aplicadas a la gestión de riesgos
- Corporate governance and ethics
- Time series analysis

4
4
4
3
3
5
3
3

 
SEMESTER 2SUBJECTSCREDITS

Compulsory credits

- Analysis and management of market risk and liquidity risk
- Analysis and management of credit risk
- Analysis and management of operational, strategic and legal risk
- Risk strategic management within a company
- End of Master Project
- Internship

4
4
4
3
6
6

 

Elective courses

(choose up to 4 credits)

- Preparation for the FRM examination
- Leadership skills
- Risk laboratory
- Principles of insurance identification and management

4
4
4
4

Organization in knowledge areas

Knowledge area 1 Risk as an element to be controlled

  • Basic principles of risk identification and management
  • Financial markets and products

Knowledge area 2 Mathematical model for risk management 

  • Quantitative models for risk assessment
  • Multivariate analysis
  • Financial valuation
  • Time series analysis

Knowledge area 3 Risk management in business models

  • Analysis and management of market risk and liquidity risk
  • Analysis and management of credit risk
  • Analysis and management of operational, strategic and legal risk
  • Risk strategic management within a company

Knowledge area 4 Professional tools and ethics

  • Software tools applied in risk management
  • Corporate governance and ethics
  • Preparation for the FRM exam
  • Leadership skills
  • Risk laboratory
  • Principles of insurance identification and management

Knowledge area 5 Internship

  • Internship

Knowledge area 6 End of Master Project

  • End of Master Project

The goal of our internships is to provide our students with an opportunity to alternate theoretical learning with professional practice, and to enter the labour market at the conclusion of the programme having acquired at least some professional experience.

Professional practice in the form of an external internship is a compulsory subject in this Official Master's Degree syllabus, which the students must take. As a compulsory subject, it is be subject to evaluation and assigned a mark.

In general, internships are taken during the second semester. Minimum duration of practices is at least 6 weeks. It is the intention of this programme that such internships are paid, although the final decision shall correspond to the company that offers the internship position.

Graduate profile

This Official Master's Degree in Financial risk management provides the student with the necessary skills to carry out their activities in the following financial-related functions.

  • Functions in risk department of financial companies (credit entities, investment services companies, management companies for collective investment institutions, and venture capital firms) and highly regulated non-financial companies (such as engineering and energy companies and telcos).
  • Risk management functions in venture capital firms, rating agencies, securitisation companies, advisory services companies and consultancy companies.
  • Functions linked to departments for development of financial products.
  • Positions in planning and control departments.
  • Consulting positions in Public Administrations and Regulatory Institutions.

Likewise the Official Master's Degree in Financial Risk Management is a pathway onto the official doctorate programme, in line with the provisions in Royal Decree 99/2011 of 28 January which regulates official doctorate teachings.

  • Specialised, state-of-the-art training in a field which is increasingly demanding this professional profile, due to the changes underwent mainly in the regulatory framework.
  • Employability nearing 100% 6 months after completing this Master's Degree.
  • Rigorous training with continuous personalised support from our teachers.
  • Professional internships of duration of at least 6 weeks.
  • Specific structure for internship and job hunting.
Related:

Other ICADE Business School master's degrees: Official Executive Master's Degree in Business Management (Executive MBA), Official Master's Degree in International Management (MIM), Official Master's Degree in Human Resources (MURH), Official Master's Degree in Marketing (MMKT), Official Master's Degree in Finance (MUF), Official Master's Degree in Financial Risk Management (MUGRF), Official Master's Degree in Financial Statement Auditing and Advanced Accounting (MUACCS), Master in International Industrial Project Management (MDIPI)

 

 

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