EXECUTIVE MASTER OF SCIENCE IN RISK MANAGEMENT
Introduction
Amsterdam Institute of Finance in partnership with New York University Stern School of Business offer an Executive Master of Science in Risk Management beginning April 2010.
The Executive Master of Science in Risk Management (EMSRM) combines a detailed analysis of the key models and tools used to capture and measure risk with a critical look at the limitations of these techniques in a managerial and competitive context. Through the integration of real world business cases and the expertise of industry leaders, senior managers are challenged to think beyond their specific areas of activity and expertise to the broader challenges facing financial and nonfinancial firms in a rapidly changing market.
The EMSRM is a unique educational effort. The program consists of intensive class work held in sessions both in Amsterdam and New York. Additionally, distance learning techniques are being used to provide the groundwork for the rigor and pace of the sessions. Individual and collaborative group work is facilitated through an online platform to develop a continuous learning community and an effective vehicle for the exchange of ideas. Participants have the opportunity to gain exposure to best practices in risk control across global financial and nonfinancial enterprises by leveraging the expertise of their cohort, members of the faculty and industry.
The integrative project -launched at the start of the program and continuing through the program year - provides an opportunity for participants to apply the course work within the context of a concrete risk analysis of their choosing, working in groups of different backgrounds and perspectives. Participants are encouraged to take a broad and comprehensive view of the risks facing their organizations in order to develop an integrative strategic plan in addressing these risks.
Why is this program different from other risk
management programs?
The typical risk management program focuses on modeling, with relatively little strategic or finance content. Such programs tend to produce limited specialists who tend to be confined to risk control compliance and middle office functions and rarely take on a defining and appropriately compensated role in senior management. Narrowness in focus and an overreliance on modeling certainly contributed to the catastrophic results in risk management during the global financial turmoil that took hold from 2007 to 2009.
Our program is different.
The focus of the AIF-NYU Stern Executive M.S. in Risk Management is on rigorous, broad-gauge education and perspective, not training. Participants will not only become thoroughly familiar with traditional as well as innovative modeling techniques, but they will also gain a common-sense ability to appreciate model risk and understand how firms’ strategy and business contours drive risk exposure profiles. They will learn about less-tractable risk domains such as reputational risk, and appreciate what risk management encompasses from the shareholders’ point of view - including corporate finance perspectives on optimal hedging.
EMSRM graduates will be capable of being part of senior management teams - justifying a critical strategic role - and will be compensated accordingly. The aim is to develop leaders, not followers, and to set a new standard for risk management education.
