Courses

The Certification in Professional Achievement in Enterprise Risk Management is composed of four courses: three required core courses and one elective course that you select from among four options.

Core Courses

Elective Courses

* Available starting Spring 2016.


ERMC K5100. Value-Based Enterprise Risk Management. 3 pts.

Instructor

Lori Evangel and Sim Segal

Availability

Spring and Fall

Description

Foundational ERM course. Addresses all major ERM activities: risk framework; risk governance; risk identification; risk quantification; risk decision making; and risk messaging. Introduces an advanced yet practical ERM approach based on the integration of ERM and value-based management that supports integration of ERM into decision making. Provides a context to understand the differences between (a) value-based ERM; (b) traditional ERM; and (c) traditional "silo" risk management.

ERMC K5200. Traditional Risk and ERM Practices. 3 pts.

Instructor

James Bone, Corey Hirsch, and Chris Magno

Availability

Spring and Fall

Description

Two distinct topics in this course: (1) Traditional ERM frameworks (such as COSO, ISO 31000) and their tools, techniques, and risk vocabulary; and (2) Traditional "silo" risk management grouped into the four risk categories – strategic, operational, financial, and insurance – as well as traditional risk management practices at banks and insurance companies. Provides familiarity with a range of current ERM and risk practices in the market.

ERMC K5250. External Stakeholder Requirements. 3 pts.

Instructors

Greg Gaskel, Rich Lauria, Isabel Rohrbeck, and Neil Strauss

Availability

Spring only (starting with Spring 2017)

Description

Provides a global review of ERM requirements of regulators, rating agencies, and shareholders. Addresses four industry sectors: (1) insurance; (2) banking; (3) corporate; and (4) healthcare.

ERMC K5320. Strategic Risk Management. 3 pts.

Instructors

Michael A. Cohen, Conrad Fernandes, Cecil House, and H. S. Bob Kostakopoulos, and Frank Noto

Availability

Spring only

Description

Review of the types of strategic risks, such as a flawed strategy, inability to execute the strategy, competitor risk, supply chain risk, governance risk, regulatory risk, M&A risk, international risk, etc. Includes case studies, research, and common mitigation techniques, such as strategic planning practices, management techniques, governance practices, supply-chain management, etc.

ERMC K5340. Operational Risk Management. 3 pts.

Instructor

Cecil House, Kay Rahardjo, and Elvira Spika

Availability

Fall only

Description

Review of the types of operational risks, such as technology risk (e.g., cyber-security), human resources risk, disasters, etc. Includes case studies, risk analysis frameworks and metrics, and common mitigation techniques, such as insurance, IT mitigation, business continuing planning, etc.

ERMC K5360. Financial Risk Management. 3 pts.

Instructors

Steve Lindo, Adam Litke, and David Romoff

Availability

Spring only

Description

Review of types of financial risks, such as equity market risk, interest rate risk, credit risk, etc. Includes case studies, risk quantification methods (e.g., Value-at-Risk (VaR) models), and common mitigation techniques, such as portfolio management, hedging, derivatives, etc. Also addresses traditional risk management practices at banking institutions.

ERMC K5380. Insurance Risk Management. 3 pts.

Instructor

Rich Lauria

Availability

Fall only

Description

Review of types of insurance risk, such as pricing risk, underwriting risk, reserving risk, etc. Includes case studies, risk quantification methods (e.g., market-consistent economic capital models, dynamic financial analysis (DFA) models, catastrophe models, etc.), and common mitigation techniques, such as asset-liability management (ALM), reinsurance, etc. Also addresses traditional risk management at insurance companies and ERM actuarial standards of practice (ASOPs).