Courses

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.

Availability

On Campus: Every term
Online: Every term

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.

Availability

On Campus: Fall and Spring
Online: Fall and Spring

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

(It is recommended but not required that students take Traditional ERM Practices as a prerequisite to this course.)  

Availability

On Campus: Every term
Online: Every term

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.

Availability

On Campus: Every term
Online: Every term

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.

Availability

On Campus: Every term
Online: Every term

Students considering selecting this course are advised to first evaluate their knowledge of material covered in ERMC PS5350: Intro to Quantitative Risk Management (IQRM), which can be done by completing this online assessment test. If the test indicates a material gap of IQRM knowledge, then it is strongly suggested – though not required – that the student either (a) first successfully complete the IQRM course prior to registering for this course; or (b) select either Strategic Risk Management or Operational Risk Management as your elective to complete the Certificate. (If the IQRM course is taken, it would not count as one of the four required Certificate courses.)

A survey of market, credit, liquidity, and systemic risk. Includes case studies, risk quantification methods, and common mitigation techniques using portfolio management, hedging, and derivatives. Also addresses traditional risk management practices at banking institutions.

Availability

On Campus: Every term
Online: Every term, starting Fall 2019

Students considering selecting this course are advised to first evaluate their knowledge of material covered in ERMC PS5350: Intro to Quantitative Risk Management (IQRM), which can be done by completing this online assessment test. If the test indicates a material gap of IQRM knowledge, then it is strongly suggested – though not required – that the student either (a) first successfully complete the IQRM course prior to registering for this course; or (b) select either Strategic Risk Management or Operational Risk Management as your elective to complete the Certificate. (If the IQRM course is taken, it would not count as one of the four required Certificate courses.)

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).

Availability

On Campus: Fall and Spring
Online: Not offered