Financial Risk Management

Program Overview

The Master of Financial Risk Management (MFRM) is designed to prepare students who excel at finance and quantitative analysis for careers in this in-demand sector. A bridge between academic and professional life, this full-time, ten-month program allows students to fast-track into the finance industry—giving them a competitive edge over applicants with only an undergraduate degree.

Students will gain a better understanding of the different types of risk, the regulatory environment, and how different financial institutions manage uncertainty. They consider the ways risk is measured and managed, looking at systems and models currently used within the financial sector.

Students have the opportunity to gain real-world experience during the Risk Management Project which takes place midway through the program. They will work on a real risk issue that is relevant and of interest to financial institutions. During the two-month project, students will be taken out of the classroom and into industry, working in-house with practising risk management professionals.


Quick Facts

Domestic International
Application payment deadline MFRM:

Round one: 20-Nov-2019
Round two: 05-Feb-2020

MFRM:

Round one: 20-Nov-2019
Round two: 05-Feb-2020

Minimum admission average MFRM:

B

MFRM:

B

Program length (full-time only) MFRM:

10 months

MFRM:

10 months


​Master of Financial Risk Management

Program Description

The Master of Financial Risk Management (MFRM) is designed to prepare students who excel at finance and quantitative analysis for careers in this in-demand sector. A bridge between academic and professional life, this full-time, eight-month program allows students to fast-track into the finance industry—giving them a competitive edge over applicants with only an undergraduate degree.

Students will gain a better understanding of the different types of risk, the regulatory environment, and how different financial institutions manage uncertainty. They consider the ways risk is measured and managed, looking at systems and models currently used within the financial sector.

Students have the opportunity to gain real-world experience during the Risk Management Project which takes place midway through the program. They will work on a real risk issue that is relevant and of interest to financial institutions. During the two-month project, students will be taken out of the classroom and into industry, working in-house with practising risk management professionals.

​Minimum Admission Requirements

  • Applicants are admitted under the General Regulations of the School of Graduate Studies. Applicants must also satisfy the Rotman School's additional admission requirements stated below.​

  • A recognized four-year undergraduate degree or equivalent: A business, commerce, economics, mathematics, engineering, or actuarial science degree is preferred. However, other four-year undergraduate degrees will be considered if there is evidence of strong quantitative skills with a minimum B average in calculus, linear algebra, and statistics or econometrics.

  • Quantitative proficiency, usually demonstrated through the completion of university-level courses with a minimum B average, in calculus, linear algebra, and statistics and/or econometrics during the undergraduate degree.

  • Two academic references.

  • Essays (one written essay, two video questions, and one real-time written response).

  • English-language proficiency (if required).

  • Prerequisite knowledge in the following areas, usually demonstrated through the completion of university-level courses:

    • Foundations of finance.

    • Financial accounting.

    • Investments.

    • Futures and options.

    • Applicants who have not completed courses in one or more of these subject areas may be offered admission conditional on successful completion of one or more qualifying examinations demonstrating equivalent knowledge.

  • Applicants who meet all the criteria will be assessed on the basis of their application essays, answers to video questions, grades, and references by the admissions committee. Selected applicants will then be invited for an admission interview. The admission decision will be based on both submitted materials and interview performance.

​Program Requirements

Within this eight-month, full-time program (two sessions), students must complete 11 half courses (5.5 full-course equivalents [FCEs]) as follows:

RSM 6301H​
Topics in Financial Risk
​RSM 6302H
​​Financial Markets, Risk, and Institutions​
​RSM 6303H
Regulation of Financial Institutions​
​RSM 6304H
Operational Risk​
RSM 6305H
​​Credit Risk​
​RSM 6306H​
​Probabilistic Modelling for Risk-Informed Decisions
​RSM 6307H
​Macroeconomics for Financial Risk Management Professionals​
​RS​M 6308H
​Advanced Investments
​RS​M 6310H
​Derivative Models for Risk Management
RSM 6311H​
Rotman Risk Managemen​t Project​
RSM 6313H Innovations in Financial Technology

​​Program Length

2 sessions full-time (typical registration sequence: F/W)

Time Limit

3 years full-time

Calvin Ke

“Strong mentorship is valuable in guiding you through your journey.”

Calvin Ke
PhD Candidate, Health Policy, Management & Evaluation
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