The Second-cycle degree course in Finance and Risk Management aims to train experts in the management of financial products and portfolios, in the analysis and management of banking and financial risks and, more generally, of economic business risks, in the management of financial institutions, and in the analysis and management of insurance risks. Particular attention will also be paid to the management roles required in private pension provision, a sector whose importance is set to grow as a result of reduced public intervention in pension matters. At the end of the course of study, the Second-cycle graduate will be able to master the main topics in the area of finance, which relate in particular to financial markets and the pricing of elementary financial instruments and derivatives, financial investment management and the measurement and management of financial risks, the management and regulation of financial intermediaries, the management of the capital value of financial intermediaries, and the management of insurance risks. Graduates should be able to apply this knowledge and these tools to the operational reality of financial markets and institutions. The professionalism acquired will be characterised by a strong integration of the main disciplinary areas (business, mathematical-statistical, economic and legal), also in an international dimension.
The training pathway is organised in such a way as to take into account that for some roles in finance and risk management, strong managerial knowledge is required, while for others, the ability to use quantitative analysis tools, in particular those of mathematical finance, is required.
With reference to the business area, the training course develops the following topics: financial analysis, corporate financial risk management, risk and insurance management, marketing and business strategies for financial services, applied finance, risk management and value creation in banks as well as investment banking and real estate finance.
In the quantitative area, the following basic topics are covered: risk management tools, insurance and pension technology, quantitative finance, computational and statistical methods for finance, asset-liability management (the latter studied, from an integrated perspective, with mathematical and business methodologies). The study of topics typical of the mathematical-statistical area is approached from an integrated perspective, so that the Second-cycle degree student is equipped with the most relevant languages related to finance and risk management.
With regard to the economic area, the course of study entails the study of macro-financial analysis and forecasting methodologies and, as an indispensable complement to deal with globalisation also from a historical perspective, the history of finance and geopolitics.
Finally, knowledge of financial market law is provided.
The appropriateness of the course content is constantly checked in relation to scientific progress in the fields of finance and risk management (and this is ensured by the fact that the teaching staff involved in the training develop their own research activities in these fields), as well as by comparison with market participants. The latter will be invited to actively participate in the training activities through seminars, testimonies and proposals of case studies.
Moreover, since December 2014, the FRIM also provides that the ECTS credits reserved for student-choice activities may be acquired in whole or in part through training placements in companies, organisations or professionals in accordance with the University Regulations for curricular internships. If these internships last at least 200 hours, 8 ECTS credits will be recognised.
As of A.Y. 2017/2018, classes in the first semester of the second year are delivered in English. In particular, there are three compulsory characterising courses that are of considerable interest to students. The introduction of an English-language semester also came about in response to specific requests from students, who, in the self-designed open-ended questionnaires provided twice a year by the degree course, indicated that it would be stimulating, as well as useful for enriching their English language skills, to try their hand at teaching in a foreign language.
At the same time, the English language course was raised to 6 ECTS credits (from 3) and 48h of teaching (used to be 24h).