MS/MBA in Financial Risk Management

Given the important level of Banking regulations at the local and international levels in the field of financial risk management especially after the global economic and financial risk of 2007 and the systemic effect that led to the collapse of leading financial institutions, an MBA emphasis in “Financial Risk Management” is designed with learning outcomes that match the needs of the financial risk manager. The program’s curriculum is designed to meet the requirements of the Basel I, II, and III accords. Candidates who join this program are highly prepared to become ready for the “FRM-Certification” examinations that are undertaken by the Global Association of Risk Professional (GARP).

 

 
 
TOTAL REQUIRED CREDITS FOR GRADUATION (39 credits)
CORE REQUIREMENTS (18 credits)
CODE DESCRIPTION PREREQUISITE CR.
ECO 500 Business Economics PLACEMENT
3
FIN 500 Financial Management PLACEMENT
3
MGT 500 Contemporary Management PLACEMENT
3
MGT 501 Adv. Quantitative Methods in Business PLACEMENT
3
MGT 502 Research Methods in Business PLACEMENT
3
MKT 500 Marketing Management PLACEMENT
3
MAJOR REQUIREMENTS (15 credits)
CODE DESCRIPTION PREREQUISITE CR.
FIN 581 Foundations of Financial Risk Management NONE
3
FIN 583 Advanced Financial Markets and Derivatives NONE
3
FIN 586 Market and Credit Risk NONE
3
FIN 587 Operational Risk & Capital Adequacy NONE
3
FIN 589 Integrated Risk Management and Contemporary Issues NONE
3
GRADUATION REQUIREMENTS (3 credits)
CODE DESCRIPTION PREREQUISITE CR.
FIN 598 Research Project in Finance Consent of Advisor
3
FIN 599 Research Thesis in Finance Consent of Advisor
6
TECHNICAL ELECTIVES (3 credits)
The electives are to be chosen from other concentration courses with the consent of the advisor.
Course Descriptions
ECO 500
Business Economics
Students are presented with advanced concepts and analytical tools of microeconomic theory: demand, supply and equilibrium; opportunity cost; efficiency; perfect and imperfect competition; oligopoly and game theory; risk and uncertainty; economics of information; investment; public goods and externalities. Applications and case studies in managerial decision-making. Furthermore, this course shall emphasize to students the mutual relationship between the macroeconomic environment and business, including how fiscal, monetary, foreign exchange, and other policies of the government interact to help shape the macroeconomic environment. Causes and consequences of inflation and unemployment. Economic growth and technological progress. Open economy, international flow of goods and capital, exchange rates.
Prerequisite: PLACEMENT
FIN 500
Financial Management
Concepts and theories applicable to the financial administration of a firm. Cases, problems, and readings to illustrate various financial problems and techniques for solving such problems. Topics include valuation, risk and return, capital budgeting, cost of capital, financial analysis and planning, and working capital management.
Prerequisite: PLACEMENT
MGT 500
Contemporary Management
Students are coached to build on the different management theory approaches so that they are capable to integrate appropriate skills for better decision-making, to acquire an understanding of the practices related to leadership and organizational behaviour of the business constituents to manage structure and change affecting business strategies and to develop an understanding of the recent trends in management theory.
Prerequisite: PLACEMENT
MGT 501
Adv. Quantitative Methods in Business
Examination of important quantitative approaches to management decision-making. Application of various analytical methods, models, and theories to a variety of management decision areas. Use of tools such as decision theory, simulation, PERT/CPM and linear programming to minimize risk and uncertainty in management activities. Quantitative controls and decision support as applied to the operations of business. Advanced applications in business analysis, decision support, and development of decision support system. Introduction to econometric techniques used in business: Simple and multiple regressions.
Prerequisite: PLACEMENT
MGT 502
Research Methods in Business
Applications of research methods to facilitate business enterprise decision-making. Topics include review of the different research methods used (qualitative and quantitative), business environment analysis and problem definition, secondary literature review, data collection methodology as tied to hypotheses defined, questionnaires design, sampling techniques, statistical validation and results interpretation. Several cause-effect techniques studied. Students are to work on a research topic to experiment with these topics.
Prerequisite: PLACEMENT
MKT 500
Marketing Management
Controllable and uncontrollable marketing variables in today's business environment. Topics include factors affecting consumer demand and methods of satisfying it, market structure, and product-mix selection, distribution, promotion, pricing, and market research. The course structure, projects, and cases are designed to develop the students' ability to generate effective marketing strategies in the face of uncertainty in group and competitive setting. Marketing planning, marketing research, designing, and marketing policies will be implemented.
Prerequisite: PLACEMENT
FIN 581
Foundations of Financial Risk Management
This course introduces candidates the fundamental drivers of financial risk. The focal point is to analyze the processes that financial institutions adopt in their operations and how they have been effected by local and international risk management regulations. In this course, a synopsis of risk-related topics mainly: market, credit, operational, and the Basel Committee on banking supervision's regulatory principles shall be covered.
Prerequisite: NONE
FIN 583
Advanced Financial Markets and Derivatives
The major financial markets and products are explained to candidates with special attention to the means by which financial securities are structured and regulated.  Forward and futures contracts are explained and contrasted to each other; emphasis is placed on their roles as hedging and speculative roles. Other financial derivatives such as options, swaps, CDS and their valuation models occupy an important section of this course.
Prerequisite: NONE
FIN 586
Market and Credit Risk
Candidates in this course are going to be exposed to deep analyses of market risk factors affecting the value of individual investments as well as portfolios of financial products. Then, the second part of the course shall cover credit risk assessment and measurements at the corporate and retail banking level. Topics to be covered include: parametric and non-parametric value at risk (VAR), extreme value theory (EVT), correlations and copulas, short-term interest rate movements, role of the credit analyst, securitization, default risk, recovery, expected and unexpected loss, spread analysis, and many other credit risk models (Merton, KMV...).
Prerequisite: NONE
FIN 587
Operational Risk & Capital Adequacy
Internal and external operational risk factors are thoroughly explained in this course in addition to the amount of regulatory capital that companies should set in light of such risks. Candidates will be introduced to the various approaches such as the Basic Indicator Approach (BIA) standardized and the Advanced Management Approach (AMA) used to calculate risk-weighted assets and the related capital adequacy level according Basel I, II, 2.5 and III.
Prerequisite: NONE
FIN 589
Integrated Risk Management and Contemporary Issues
Market, credit, and operational risks are integrated together so that one risk management strategy is designed and executed. Topics include calculation and interpretation of incremental VAR, marginal VAR, Portfolio VAR and many other current issues in the information technology, security, and trading strategies and practices that make integrated risk management more challenging in nowadays financial markets.
Prerequisite: NONE
FIN 598
Research Project in Finance
Students aim to apply theoretical and practical concepts into a selected field of finance. The final work is a review of secondary literature or building a case study to reveal a trend or a specific behavior characteristic of the working environment. This research may reveal some originality.
Prerequisite: Consent of Advisor
FIN 599
Research Thesis in Finance
Students conduct a full-fledge research using a specific research methodology to investigate in depth an issue related to finance practices. Original research results should be obtained.
Prerequisite: Consent of Advisor

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