Postgraduate Diploma in Financial Risk Management
金融風險管理深造文憑
FN 08-113-00 (31) ｜Start Date: 25-07-2013 Next intakes: 07-2013
Course Description
Why did financial risk management fail to prevent the 2008 financial tsunami?
Why did it fail to rescue Long Term Capital Management, a star-studded hedge fund with two Nobel Laureates on its Board, from its spectacular fall in 1998?
Postgraduate Diploma in Financial Risk Management trains you in the art and the science of financial risk management and increases your chances of acquiring the coveted Financial Risk Manager®accreditation.
- Curriculum covers body of knowledge of FRM Level 1 and Level 2 exams
- Practical, analytical and highly relevant to Financial Risk Management
- Increase your career potential to achieve positions in financial risk, credit risk, compliance and risk analysis sectors
- Contents: Financial Risk Management, Market Risk Management, Financial Models, Valuation and Risk Models, Credit Risk Management, Operational and Integrated Risk Management, Current issues in financial market such as the euro debt crisis
- Focus on analytical framework and practical appliaction of financial risk management
The program seeks to distinguish itself from a wide array of financial risk management courses in two important ways. First, it covers the full curriculum prescribed by the Global Association of Risk Professionals (GARP) for its Financial Risk Manager®(FRM) accreditation. However, unlike other preparatory courses which aim at providing a set of knowledge necessary to pass the FRM exam in the shortest possible span of time, the current program investigates each topic in great depth, so that the students may actually learn the concepts and applications properly and in the process hopefully enhance the chance of passing the FRM exams.
Second, unlike other training courses that basically embrace the methodology underlying the FRM curriculum, this program gives equal spotlight to the inherent limitations of the quantitative framework and its applications, and the corporate-governance reality that often curtails the proper application of the framework.
Indeed, the Financial Tsunami of 2008, which saw the collapse or bailout of many previously illustrious financial institutions, happened despite the professed adoption and deployment of this risk management mechanism. And the spectacular demise in 1998 of Long Term Capital Management – a hedge fund which boasted the best and the brightest that Wall Street had to offer, plus two Nobel Laureates who provided the theoretical and mathematical foundation for the framework, had already been an egregious precursory object lesson.
The program thus intends to train the students in both the art and the science of financial risk management by taking on the predominant methodology in its full mathematical rigor, and the “real-world” pitfalls and solutions that may lie beyond its pure quantitative reach, while mindful of what the coveted FRM certification may mean for the students.
The aim of the program is to provide students with analytical framework and practical tools necessary to manage financial risk in global financial markets. The program covers a number of units that are similar to the Financial Risk Manager levels 1 & 2 exams and offers in-depth coverage of financial risk management, valuation of relevant derivative instruments, hedging strategies and the usefulness of the financial instruments in managing financial risk. The program is both analytical and practical and students will acquire skills and knowledge that are highly relevant for their professional career development. Cases will be used to provide many real-life examples.
Previous Financial Risk Management (FRM) seminars:
Duration
- 9 modules
27 lecture hours per module
Medium of Instruction
- Classes will be conducted in English, supplemented by Cantonese if necessary.
Program Structure
There are 9 modules in the programme and it involves the delivery of 3 modules per semester. All modules are compulsory. There is no exemption policy for this programme.
|
Module Code |
Module Title |
|---|---|
|
FN 08-113-01 |
Foundations of Risk Management |
|
FN 08-113-02 |
Quantitative Analysis |
|
FN 08-113-03 |
Financial Markets and Products |
|
FN 08-113-04 |
Valuation and Risk Models |
|
FN 08-113-05 |
Market Risk Measurement and Management |
|
FN 08-113-06 |
Credit Risk Measurement and Management* |
|
FN 08-113-07 |
Operational and Integrated Risk Management * |
|
FN 08-113-08 |
Risk Management and Investment Management * |
|
FN 08-113-09 |
Current Issues in Financial Markets |
- * Module 4- Valuation and Risks Models is a pre-requisite for these modules.
- 3 intakes a year in March, July and November.
***Applications are accepted on a first-come-first-served basis.
Class Schedule
Tentative Schedule:
-
Foundations of Risk Management - Saturday's afternoon
-
Quantitative Analysis - Thursday
-
Financial Markets and Products - Saturday's evening
-
Valuation and Risk Models - Saturday's afternoon
-
Market Risk Measurement and Management - Saturday's evening
-
Credit Risk Measurement and Management - Wednesday
-
Operational and Integrated Risk Management - Monday
-
Risk Management and Investment Management - Saturday's afternoon
-
Current Issues in Financial Markets - Saturday's evening
Weekday evenings 7:00 - 10:00pm or weekend afternoons or evenings.
Articulation to the Curtin University of Technology, Australia's Master of Finance (MFin)
Graduates ofthe Postgraduate Diploma in Financial Risk Management (PgD FRM) will be given a 6-unit exemption into the Curtin University’s Master of Finance programme. The students will finish the programme by studying 6 Units offered by Curtin University and HKU SPACE (Finance Analysis, Financial Statement Analysis, International Finance, Mergers and Acquisitions, Corporate Finance, and Finance Trading Strategies).
Unit Exemptions on completion of
- Introductory Econometrics
- Financial Accounting
- Finance Principles
- Economics Principles
- Portfolio Management
- Financial Derivative Securities
Upon completing an additional 6 modules, students will be awarded the Master of Finance Degree from the Curtin University of Technology, Australia. The remaining 6 modules that students must complete to fulfill the Master of Finance degree requirements are:
- Corporate Finance
- Finance Analysis
- Mergers and Acquisitions
- Financial Statement Analysis
- International Finance
- Finance Trading Strategies
Remarks: Applying Exemption from other programme(s) with Master of Finance is subject to the Exemption Policy of the relevant programme from its respective Institution.
Entry Requirements
Applicants should
a) hold a bachelor’s degree awarded by a recognized institution;
AND
b) provide evidence of English proficiency (if the degree or equivalent qualification is from an institution where the language of teaching and assessment is not English) such as one of the following:
i)an overall band of 6.0 with no subtests lower than 5.5 in the IELTS;
ii)a score of 550 in the paper-based TOEFL or a score of 213 in the computer-based TOEFL, or a score of 80 in the internet-based TOEFL;
iii)HKALE Use of English at Grade E.
AND
c) have passed Calculus or Statistics at university first-year level.
Applicants with other qualifications will be considered on individual merit.
Application Deadline
Application Fee
Course Fee
- HK$35,100 per year ($11,700 per intake)
Enrolment Method
Payment Method
Application Form
The CEF Institution Code of HKU SPACE is 100
| CEF Sector: Financial Services | |||
|---|---|---|---|
| CEF Course Code | CEF Course Title | Fees | Enquiry No. |
| 23G08417-4 |
Postgraduate Diploma in FInancial Risk Management 金融風險管理深造文憑 |
$35,100 | 2520-4610 |
Continuing Education Fund
As of 26th September 2011, students have to satisfactory complete the entire programme with 70% class attendance and obtain a pass mark of 50% in each module for CEF reimbursement.
|
Continuing Education Fund
This programme has been included in the list of CEF reimbursable programmes. Application for CEF has to be made before commencement of the programme.
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