Specialization in Risk and Insurance (RMI):

The mission of the Specialization in Risk and Insurance is to educate students in the theory and practice of risk management and insurance at an advanced level through a customized program of study. Further concentration within this specialization is possible - although not required - through selection of one of four tracks: risk management, insurance, employee benefits, or insurance regulation and public policy. The program is designed to prepare students for analytical and technical staff, consulting, and applied research positions in risk management, employee benefits, and insurance. The program is suited especially to the needs of students who have undergraduate business degrees or MBA degrees and who desire further coursework in risk and insurance to enhance their professional careers.

Faculty Advisor: Dr. Martin F. Grace

Mathematical Risk Management (MRM):

The mission of the Specialization in Mathematical Risk Management is to provide students with a solid understanding of the application of mathematics in economics and finance to address contemporary risk management issues. Emphasis is placed on the diagnosis, analysis, pricing, and customization of solutions to risk management problems, broadly defined to include both financial and operational risk exposures. The program is designed to prepare students for analytical and technical positions within financial institutions, risk management advisory organizations, and the treasury departments of non-financial corporations. Quantitative in focus, the program is well suited for students with undergraduate and graduate degrees in mathematics, statistics, or similar technical disciplines. Students with an MBA or undergraduate degree in economics, finance, or actuarial science, who can demonstrate the necessary skills in mathematics, also make excellent candidates.

A dual-degree option is available in which students will earn both the Master of Actuarial Science degree and the Master of Science in Risk Management and Insurance degree specializing in Mathematical Risk Management. The program provides students with increased career opportunities in the financial services industries specializing in the application of quantitative methods to solve complex business problems in an era of financial services and capital markets convergence.

Faculty Adviser: Dr. Richard D. Phillips