Cass Business School, City University Of London
University website: http://www.cass.city.ac.uk/
Country: United Kingdom
Management of risk is now the key issue for all major businesses. The risks that threaten business organisations take many forms. They include financial risks produced by fluctuations in currencies, interest rates and commodity prices, threats to physical assets from earthquake, windstorm and other natural perils, man-made threats of terrorism, fraud and criminality and a host of operational risks that surround the organisation and planning of business activity.
The course aims to provide a sound understanding of the science of risk management and the principles of insurance and of the interrelationship between the two. It is intended to assist competent graduates to establish themselves in professional and academic posts in the fields of insurance and risk management and to enable practitioners and academics who already work in these fields to deepen their knowledge and enhance their careers. The course itself has both a strong academic and vocational element. It aims to combine academic rigour with the acquisition of useful practical knowledge.
On completing the course students will:
• Have gained a thorough understanding of the principles of risk management and of the main areas of risk management decision-making within multinational corporations
• Have acquired a sound understanding of the basic principles of risk and insurance, the characteristics of the main types of insurance, both life and general, and the role of insurance in the process of risk management
• Understand and be able to apply the statistical methods that are used in finance, risk analysis and risk management and have acquired a comprehensive understanding of the tools and techniques used in risk modelling
• Be able to apply the fundamentals of finance and financial analysis, and have developed and enhanced their ability to analyse and value securities and corporations
• Have a thorough understanding of fundamental areas of financial risk management, along with the necessary theoretical knowledge and statistical tools to interpret financial information
• Have acquired the basic concepts and analytical tools of strategic management and appreciate how they are applied in firms generally and in insurance companies and other financial firms in particular
• Have gained knowledge of the principles of contract and business law and their application to insurance, together with an understanding of the special legal principles that apply in insurance
• Have an in-depth understanding of financial management approaches within multinational insurance and financial services firms
• Be equipped with the concepts and techniques of finance planning and control used in modern insurance and financial enterprises and have a good understanding of insurance accounting for life insurance and non-life insurance
• Have acquired in-depth understanding, knowledge and skills in several specialised areas of risk management, finance or insurance, depending on the electives chosen.
The long-established MSc degree is one of the mostly well-known academic insurance and risk management educational programmes in the world, and we have planned a challenging curriculum that promises to be both exciting and intellectually rewarding. The faculty team, through their long-standing experience in teaching, research and business practice, will help you to acquire valuable theoretical and practical knowledge which will help you to gain competitive advantages and advance your future career.
Each year we succeed in recruiting a strong and diverse domestic and international student group, which provides a rich cultural base for our programme.
We are proud of the career progression of our many past graduates, who now work in a wide range of organisations around the world, ranging from major international insurance and reinsurance companies, international insurance broking firms, Lloyd’s of London, investment and retail banks, leading accountancy firms and management consultants, risk management departments of major corporations, regulatory authorities and many other fields. Many of our ex-students now hold senior positions in their organisations.
Degrees offered: Bachelors, Master’s, and PhD
SMM353 Insurance Law and Regulation
SMM354 Principles of Finance and Financial Analysis
SMM356 Risk Management
SMM352 Theory of Risk and Insurance Markets
SMM357 Accounting and Financial Management in Insurance
SMM373 Business Organization and Corporate Strategy in Insurance and Financial Services
SMM372 General Insurance
SMM359 Risk Analysis and Modelling
SMM527* Research Project Management Skills Workshop
SMM527 Business Research Project
Three Specialist Electives
*SMM527 Research Project Management Skills Workshop: This module consists three sessions of the preparation courses for Business Research Project; it is not accredited toward programme degree.
Dr Cherie H Chen, CPCU, ARe, FLMI
Course Director for MSc Insurance and Risk Management
Faculty of Actuarial Science and Insurance
Cass Business School
City University London
phone: +44 (0)20 7040 5242