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Accounting & Finance Investment Management

Certificate for Module (Examinations Preparatory Programme for Financial Risk Manager (FRM) Part II)
證書(單元 : 金融風險管理師(卷二)考試備試課程)

CEF Reimbursable Course

CEF Reimbursable Course

Course Code
FN054A
Application Code
2285-FN054A

Credit
12
Study mode
Part-time
Start Date
To be advised
Next intake(s)
May 2025
Duration
4 months
Language
English
Course Fee
HK$7,800
Deadline on 19 Apr 2024 (Fri)
Enquiries
2975 5767
2861-0278
How to Apply

Highlights

The programme aims to prepare students for taking the Financial Risk Manager Part II examination and provide them with a broad range of risk management concepts and techniques. The programme covers the management and techniques of various financial risks to enhance their financial decision making. It stimulates students to apply valuation techniques to perform financial risk management. 

Programme Details

 Course Content:

1. Market Risk Measurement and Management

  • Value at Risk (VaR) and other risk measures
  • Parametric and non-parametric methods of estimation
  • VaR mapping
  • Backtesting VaR
  • Expected shortfall (ES) and other coherent risk measures
  • Extreme Value Theory (EVT)
  • Modeling dependence: correlations and copulas
  • Term structure models of interest rates
  • Volatility: smiles and term structures
  • Fundamental Review of the Trading Book

 

2. Credit Risk Measurement and Management

  • Credit analysis
  • Default risk: quantitative methodologies
  • Expected and unexpected loss
  • Credit VaR
  • Counterparty risk
  • Credit derivatives
  • Structured finance and securitisation

 

3. Operational Risk and Resilience

  • Governance of operational risk management Frameworks
  • Identification, classification, and reporting of operational risks
  • Measurement and assessment of operational risks
  • Mitigation of operational risks
  • Model risk and model validation
  • Risk-adjusted return on capital (RAROC)
  • Economic capital frameworks and capital planning
  • Stress testing banks
  • Third-party outsourcing risk
  • Risks related to money laundering, financing of terrorism, financial crime, and fraud
  • Regulation and the Basel Accords
  • Cyber-resilience
  • Operational resilience

 

4. Liquidity and Treasury Risk Measurement and Management

  • Liquidity risk principles and metrics
  • Liquidity portfolio management
  • Cash-flow modeling, liquidity stress testing and reporting
  • Contingency funding plan
  • Funding models
  • Funds transfer pricing
  • Cross-currency funding
  • Balance sheet management
  • Asset liquidity

 

5. Risk Management and Investment Management

  • Factor theory
  • Portfolio construction
  • Portfolio risk measures
  • Risk budgeting
  • Risk monitoring and performance measurement
  • Portfolio-based performance analysis
  • Hedge funds

 

6. Current Issues in Financial Markets

  • Blockchain, cryptocurrency, and decentralised finance
  • 2023 Bank Failures
  • Artificial intelligence (AI)
  • Climate risk
  • Digital Resilience

Assessment method:  An individual assignment with 80 MC-type ​Questions

 

Upon successful completion of the programme, students who have passed the two individual written assignments with attendance no less than 70% will be awarded within the HKU system through HKU SPACE a Certificate for Module (Examinations Preparatory Programme for Financial Risk Manager (FRM) Part II).

 

On completion of the programme, students should be able to: 

  1. identify and analyse the management of market risks, credit risks, operational risks, liquidity and treasury risk;
  2. outline suitable tools to manage and measure the various types financial risks;
  3. apply valuation techniques to measure portfolio performance and perform quantitative asset allocation; and
  4. analyse the current issues in financial markets. 

Lecturer

Mr. Christopher Mak , ACCA, CAIA, CESGA, CFA, CFP, CPA (Aust.), FLMI, FRM, MRICS

 

Mr. Mak has an extensive wealth of experience in the financial industry, with a focus on investment analysis and financial risk management. He earned a Bachelor of Science degree from the Hong Kong University of Science and Technology, majoring in Physics with minors in Mathematics and Social Science. In addition to his academic achievements, Mr. Mak holds multiple professional qualifications in accounting, insurance, and investment-related fields. His credentials include the Chartered Alternative Investment Analyst (CAIA), Chartered Financial Analyst (CFA), Certified Financial Planner (CFP), Chartered Certified Accountant (ACCA), Certified Practising Accountant Australia (CPAA), Certified ESG Analyst (CESGA), RICS Chartered Surveyors (MRICS), Fellow of Life Management Institute (FLMI), as well as certifications as a Financial Risk Manager (FRM) and Professional Risk Manager (PRM).

 

Application Code 2285-FN054A -

Duration
  • 13 lecture(s)
Venue

Class Details

Schedule (TBC)

 

Fee

Application Fee

HK$150

Course Fee
  • Course Fee : HK$7,800

Entry Requirements

Applicants shall hold a bachelor’s degree awarded by a recognised institution.

 

If the degree or equivalent qualification is from an institution where the language of teaching and assessment is not English, applicants shall provide evidence of English proficiency, such as:

 

i.          an overall band of 6.0 or above with no subtests lower than 5.5 in the IELTS; or

ii.         a score of 550 or above in the paper-based TOEFL, or a score of 213 or above in the computer-based TOEFL, or a score of 80 or above in the internet-based TOEFL; or

iii.        HKALE Use of English at Grade E or above; or

iv.         HKDSE Examination English Language at Level 3 or above; or

v.          equivalent qualifications.

 

Applicants with other qualifications will be considered on individual merit.

 

Students are highly encouraged to check with the Global Association of Risk Professionals (GARP) for their eligibility of taking the FRM Part II Examination.

CEF

  • The CEF Institution Code of HKU SPACE is 100
CEF Courses
Certificate for Module (Examinations Preparatory Programme for Financial Risk Manager (FRM) Part II)
證書(單元 : 金融風險管理師(卷二)考試備試課程)
COURSE CODE 33C131579 FEES $7,800 ENQUIRY 2867-8322
Continuing Education Fund Continuing Education Fund
This course has been included in the list of reimbursable courses under the Continuing Education Fund.

Certificate for Module (Examinations Preparatory Programme for Financial Risk Manager (FRM) Part II)

  • This course is recognised under the Qualifications Framework (QF Level [6])

Apply

Enrolment Method
Payment Method
1. Cash, EPS, WeChat Pay Or Alipay

Course fees can be paid by cash, EPS, WeChat Pay or Alipay at any HKU SPACE Enrolment Centres.

2. Cheque Or Bank draft

Course fees can also be paid by crossed cheque or bank draft made payable to “HKU SPACE”. Please specify the programme title(s) for application and applicant’s name. You may either:

  • bring the completed form(s), together with the appropriate course or application fees in the form of a cheque, and any required supporting documents to any of the HKU SPACE enrolment centres;
  • or mail the above documents to any of the HKU SPACE Enrolment Centres, specifying “Course Application” on the envelope. HKU SPACE will not be responsible for any loss of personal information and payment sent by mail.
3. VISA/Mastercard

Applicants may also pay the course fee by VISA or Mastercard, including the “HKU SPACE Mastercard”, at any HKU SPACE enrolment centres. Holders of the HKU SPACE Mastercard can enjoy a 10-month interest-free instalment period for courses with a tuition fee worth a minimum of HK$2,000; however, the course applicant must also be the cardholder himself/herself. For enquiries, please contact our staff at any enrolment centres.

4. Online Payment

Online application / enrolment is offered for most open admission courses (enrolled on first come, first served basis) and selected award-bearing programmes. Application fees and course fees of these programmes/courses can be settled by using "PPS by Internet" (not available via mobile phones), VISA or Mastercard. In addition to the aforesaid online payment channels, new and continuing students of award-bearing programmes with available online service, they may also pay their course fees by Online WeChat Pay, Online Alipay or Faster Payment System (FPS). Please refer to Enrolment Methods - Online Enrolment  for details.

Notes

  • If the programme/course is starting within five working days, application by post is not recommended to avoid any delays. Applicants are advised to enrol in person at HKU SPACE Enrolment Centres and avoid making cheque payment under this circumstance.

  • Fees paid are not refundable except under very exceptional circumstances (e.g. course cancellation due to insufficient enrolment), subject to the School’s discretion. In exceptional cases where a refund is approved, fees paid by cash, EPS, WeChat Pay, Alipay, cheque, FPS or PPS by Internet will be reimbursed by a cheque, and fees paid by credit card will be reimbursed to the credit card account used for payment. 

  • In addition to the published fees, there may be additional costs associated with individual programmes. Please refer to the relevant course brochures or direct any enquiries to the relevant programme team for details.
  • Fees and places on courses cannot be transferrable from one applicant to another. Once accepted onto a course, the student may not change to another course without approval from HKU SPACE. A processing fee of HK$120 will be levied on each approved transfer.
  • HKU SPACE will not be responsible for any loss of payment, receipt, or personal information sent by mail.
  • For payment certification, please submit a completed form, a sufficiently stamped and self-addressed envelope, and a crossed cheque for HK$30 per copy made payable to “HKU SPACE” to any of our enrolment centres.
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