RMI 500: Risk Basics.Students develop a
working knowledge of the language of quantitative analysis, of
free-market economics and of corporate finance as it relates to the
management of risk. At the end of the course students are able to
integrate and apply fundamental concepts from statistics, economics
and finance to answer basic business-related questions on managing
and financing risk. Offered only in the summer before entry to the
SRM MS programs.
RMI 600: Risk Management Economics. The course
applies the analytical framework of risk and insurance economics
and financial economics to the risk-capital value decisions facing
the corporate risk manger. The focus is on understanding the
concepts and their application rather than on derivation. The
course is aimed at students with little or no exposure to corporate
risk management and does not qualify as an elective courses in the
risk management program.
RMI 601: Management of Risk.Financial
objectives of corporate risk management process, empirical evidence
of how and why firms manage risk, institutional environment and
regulations of risk management. Results in students able to jointly
manage pure and financial risk. RMI601 is a co-requisite for all
fall RMI courses and a prerequisite for all spring semester
courses.
RMI 602: Risk Research Methods.This course
provides understanding and experience with research tools and data
sources for risk evaluation. Emphasis on computer-aided
application. Results in students able to produce credible analysis
reports on risk and its consequences. The course is intended for
students in the MS program in Risk and is approved for actuarial
society Validation by Education Experience (VEE) credit.
RMI 604: Risk Modeling Methods.Consider the
modeling of contingent claims and future uncertain cash flows.
Impact of pure and financial risk on cash flow and the cost of
equity capital. Emphasis on computer-aided application.
Results in students able to model the impact of risk across the
enterprise. Co- or Prerequisite: RMI 602.
RMI 605: Strategic Policy for
Insurers.Investigates how insurance firms can create
economic value for their shareholders and the efficacy of
shareholder value creation subject to the demands of other
stakeholders. Results in students able to articulate the nuances of
a 'good' company given the demands of shareholders.
RMI 607: Operational Finance for
Insurers.Ratemaking, reserving, investing, allocating
capital and asset-liability management. Results in students able to
arrange the finances of (re)insurers to meet policyholder
obligations and create economic value for owners.
RMI 609: Property-Liability
(Re)Insurance.Underwriting, claims administration,
financial reporting and ratemaking for insurable property and
liability risks. Results in students able to structure
(re)insurance programs to finance risk.
RMI 610: Life-Health Insurance and Employee
Benefits.This course reviews basic theory related to life
and health insurance, introduces instruments to prepare for and
deal with financial consequences of various risks related to human
life. Employee benefits and a brief overview of social insurance
system are also included.
RMI 611: Cases in Risk, Insurance and
Banking.Students prepare a series of papers designed to
give experience in writing a thesis or research project proposal.
In the process, students obtain familiarity with a set of current
financial service sector issues and hone their ability to think
creatively about risk issues. Prerequisite: RMI 601, RMI 602 and at
least 2 other RMI 600-level courses.
RMI 612: Applied Risk Research &
Writing.Students, monitored by the instructor, apply the
analysis tools they have already acquired to complete a series of
large sample empirical research projects of applied interest to the
risk, insurance or banking industry. Students are responsible for
all aspects of the research project including data collection, data
analysis and the presentation of their results. At the end of the
course students have a first-hand experience in resolving the
practical issues involved in conducting large sample empirical
research. Prerequisite: RMI 601, RMI 602, RMI 611, and at least 2
other RMI 600-level courses.
RMI 613: Risk Seminar.Students collaborate to
examine in detail and depth topical issues in risk and
insurance. Results in students able to articulate the nuanced
impact of the topics examined for the practice of risk management
or the formulation of social policy. Prerequisite: Approval of
instructor in addition to RMI 601, RMI 602 and at least 2 other RMI
600-level courses.
RMI 614: Risk Funding Tools.Derivatives, swaps,
hybrid securities, indexed debt, contingent financing and
insurance. Results in students able to hedge pure and financial
risk singularly or jointly. (Calendar coordinated with
RMI604.)
RMI 621: Risk Project.Students apply their
knowledge and skills to compete a project of practical use to the
banking, risk or insurance industry. Prerequisite: RMI 611 and
approval of the course instructor (see MS “project”
requirements).
RMI 705: ERM Case Studies.Students apply their
risk, finance, accounting and management knowledge to the study of
a set of cases and may present their recommendations to an audience
of senior management in an appropriate and credible manner. This is
the required final course in the MS ERM program, all other courses
in the program are prerequisites.