Master of Science in Enterprise Risk Management
Columbia University’s Master of Science in Enterprise Risk Management (ERM) prepares graduates to inform better risk-reward decisions by providing a complete, robust, and integrated picture of both upside and downside volatility across an entire enterprise. For the full-time option, students may take all their courses on Columbia’s New York City campus or online via Columbia’s interactive live virtual classroom. The full-time program takes three terms to complete and fall or spring entry is possible.
Learn more about the program, including its flexible options and core competencies, in the Enterprise Risk Management Fact Sheet.
At a Glance
In This Master’s Program, You Will Learn To:
- Apply a value-based ERM approach to help organizations make better risk-reward decisions at the highest levels.
- Quantify all types of risk, including strategic, operational, financial, and insurance
- Develop a clear definition of risk appetite (the aggregate enterprise-level risk limit).
- Design and implement customized ERM frameworks and risk governance structures for any type of organization.
- Enhance the strategic planning process, increasing the likelihood of an organization achieving its goals.
- Understand and satisfy ERM requirements from rating agencies, regulators, and shareholders.
- Balance technical ERM skills with effective communication skills to gain buy-in from key internal and external stakeholders.
Program Features Include:
- A faculty of globally recognized ERM leaders who mentor students and provide academic, professional, and career guidance.
- A focus on all aspects of ERM, including frameworks, governance, identification, quantification, risk-reward decision-making, and messaging.
- Practical ERM tools and techniques, that have been implemented and proven in industry settings.
- Flexible course options that allow students to explore topics that matter most to them.
- Comprehensive understanding of key risk sources, including strategic (e.g. competitor risk), operational (e.g. HR), financial (e.g. market risk), and insurance (e.g. pricing risk).
- Access to Columbia’s Ivy League resources, career guidance, global alumni network, and location in New York City.
ERM graduates work in key positions for a wide range of organizations in New York City, across the country, and around the world, including:
- American Express
- Barclays Investment Bank
- China International Capital Corporation
- CLSA Hong Kong
- Deposit Trust Clearing Corporation
- Ernst & Young
- Fosun Group
- Ingenus Pharmaceutical
- JP Morgan Chase
- Morgan Stanley
- Penn Mutual Life Insurance
- Pingan Securities
- Schroders Investment Management
- Societe Generale
- United Nations
Study Options in New York City and Online
The program is available in-person on Columbia’s campus or online via Columbia’s interactive social learning platform.
- Both the in-person and online options feature rigorous coursework, world-class instruction by Columbia faculty, career and professional development resources, and personalized feedback on assignments.
- The online program uses a highly collaborative social learning platform, including weekly live online sessions to enable interaction between faculty and students.
- For additional flexibility and to accommodate working professionals, students taking courses on campus can also take courses online. (International students on a student visa are restricted to one online class each semester.)
- Online students can enroll in the in-person program after the first semester and with administrative approval.
Who Should Apply?
- Individuals who plan to pursue or advance a career in enterprise risk management.
- Individuals who want to expand their abilities in specialized risk management areas such as auditing, information technology, compliance, and management of insurable risks.
F1 Optional Practical Training Opportunities
Following successful completion of the program, international degree-holders may be eligible for F1 Optional Practical Training (OPT) and the opportunity to work in the U.S. for up to one year. Because this is a STEM-eligible program,international degree-holders may be eligible for an F1 STEM OPT Extension, which allows F1 students to apply for an additional 24 months of OPT.
Find Out More
Certification of Professional Achievement in ERM
Ideal for individuals who plan to pursue a career in enterprise risk management or who want to expand their expertise in specialized risk management areas such as auditing, information technology, compliance, and management of insurable risks.
Ideal for those who want to become more effective in targeted aspects of a current ERM role, specialize in risk management fields, or pursue an actuarial role with focused ERM knowledge.
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