Università degli Studi di Parma

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Second cycle degree

FINANCE AND RISK MANAGEMENT

COD. 5005
WEBSITE
A.Y. 2016/2017
CLASS:
LM-77 - Classe delle lauree magistrali in Scienze economico-aziendali
Years of study: 2
Credits (CFU): 120
Mode of study: full-time
FREE-ACCESS COURSE

6 places available for Non-EU citizens
including 2 places reserved to Chinese citizens

Enrolment: from July 20th 2016, 12.00 h, to October 21st 2016

COURSE STRUCTURE DIAGRAM WITH CREDITS

PERCORSO COMUNE (curriculum)

Year of study: 1

Year of study: 2

Profile of the programme

The Second Cycle Degree Course in Finance and Risk Management produces experts in:
- management of financial products and portfolio;
- analysis and management of bank and financial risk;
- economic risks of a company;
- management of financial institutions;
- analysis and management of insurance risks.

Graduates in Finance and Risk Management (FRIM):
- acquire in-depth and specialised knowledge on the mathematic tools applied to economics of financial markets and products, on finance and insurance and on business models for risk analysis of bank, financial and insurance operators; they also develop statistic competences for elaborating data and producing evaluation of economic relations;

- acquire knowledge and comprehension skills for the application of specific methodologies and tools as regards finance, analysis of International contexts, implementation of decisional models in financial markets and in business management, analysis and development of typical management procedures for different categories of financial intermediaries;
- develop an adequate autonomy of judgement as regards the financial management of companies, risk management and analysis of financial markets trends, through an effective interpretation and elaboration of the information and data retrieved;
- improve communication skills to convey, both to company workers and non-expert audience, information on financial market trends, on the use of alternative financial tools and on bank and insurance risk management;
- acquire the capacity to autonomously deal with the necessary life-long learning process required for professionals operating in the changed economic context; acquire in-depth knowledge on the use of specific financial instruments and on the functioning of particular kinds of markets; they are also entitled to pursue their economic or business-economic studies in PhD courses or Second Level Master programmes.

Graduates in Finance and Risk Management (FRIM) can find an occupation in the following sectors:
- savings management companies, vigilance committees/associations for financial rating evaluation of systems and companies;
- technical and planning offices inside companies and organisations operating in the financial system;
- financial and social insurance consulting activities, especially concerning business risk management and insurance processes;
- portfolio management and financial analysis services;
- financial management of industrial and commercial companies;
- chartered accountant (after obtaining the State qualification)
The structure of the course takes into account the needs of such sectors, in order to provide a coherent offer with the professional profiles required by the current market context.

Admission requirements

Admission to the Second Cycle Degree Course in Finance and Risk Management requires basic knowledge provided by the degree courses of classes L-18 (former 270/04), 17 (former 509/99), L-33 (former 270/04) and 28 (former 509/99). The course is openly accessible to any students meeting such requirements (no limited number of enrolments).

Graduates possessing a first cycle degree with a grade of 95/110 or higher in one of the following degree courses:
- L-18 (former 270/04) or 17 (former 509/99)
- L-33 (former 270/04) or 28 (former 509/99)
can directly access the degree course.
Graduates possessing a first cycle degree with a grade lower than 95/110 in one of the following degree courses:
- L-18 (former 270/04) or 17 (former 509/99)
- L-33 (former 270/04) or 28 (former 509/99)
and graduates possessing an equivalent foreign qualification corresponding to an Italian first cycle degree, regardless of the final grade, can access the course after preliminary assessment of their individual preparation (DM 270/04) – according to the laws in force regulating admission of foreign students.

Key learning outcomes

The Second Cycle Degree Course in Finance and Risk Management produces experts in:
- management of financial products and portfolio;
- analysis and management of bank and financial risk;
- economic risks of a company;
- management of financial institutions;
- analysis and management of insurance risks.
The attention is also focused on management roles in private welfare assistance, since such field is growing in importance due to reduced public interventions as regards individual retirement accounts. At the end of the course, graduates will be able to master the main issues concerning the financial world, especially as regards:
- financial markets and price regulation of primary and secondary financial tools;
- management and evaluation of financial investments and risks;
- management and regulation of financial intermediaries;
- management of the capital value of financial intermediaries;
- management of insurance risks.
Graduates will be able to apply the required competences and tools to the operative context of financial markets and institutions. The expertise acquired is the result of a strong integration among the main disciplinary areas (Business, Mathematics and Statistics, Economics, Law), also at an international level.
The course structure is designed to provide students with managerial competences, especially for future roles in Finance or Risk Management, and with the capacity of using specific tools for quantitative analysis, in particular financial mathematics tools.
The course programme also focuses on the following subject related to the business area: financial analysis, corporate financial risk management, insurance and risk management, marketing and commercial strategies for financial services, applied finance, risk management and bank value creation, investment banking and real estate finance.
The quantitative aspects and subjects of the course deal with: risk management tools, insurance and social assistance techniques, quantitative finance, computational and statistic methods for finance, asset-liability management (this last aspect involves/requires an integrated approach through business and mathematic methodologies).
The study of subject groups SECS-P/11 e SECS-S/06 is conducted through an integrated approach, in order for the future graduate to acquire the specific language and expertise concerning finance and risk management.
As regards the economic area, the course includes the study of the methodologies of macro-financial analysis and forecasts, as well as of financial market laws and history, so as to provide a richer cultural background.
The adequacy of the subjects offered by the course is constantly updated in line with the scientific progress in financial and risk management sectors, thanks to professors of the course who are also competent in such sectors. Students also have the opportunity to attend seminars, conferences, activities and example of case studies offered by the course in collaboration with market experts and operators.
For example, in January 2015 the course has held the 16th Workshop on Quantitative Finance, open to any students interested.
Since December 2014 the FRIM has established that credits for elective subjects might be totally or partially acquired through training internships in companies, institutions or professional offices according to the University Regulations. Internships of at least 200 hours will account for 8 credits.

Final examination, if any

The final examination consists in a written dissertation/thesis on a specific topic assigned to the student by a supervising professor, who also assists the student during his/her research. The thesis is the result of a theoretical and empirical investigation on the selected topic in coherence with the subject of competence of the supervisor.
The candidate can write his/her thesis in English, after approval by the supervisor; the candidate must prove a good command of the language through certificates or other suitable modalities. The course implemented an automatic procedure from 2014, in order to get along without requesting the approval by the Unified Course Council (CUCS) each time.
Once approved by the supervisor, the thesis is presented by the candidate in front of a preliminary commission evaluating: the level of knowledge and comprehension of the selected topic; the candidate’s ability to understand and deal with specific problems regarding the selected topic; written and oral communicative skills; the level of autonomous judgment concerning the selected topic.
The judgement of the preliminary commission is then handed on to the final commission which also takes into account the whole career of the candidate and his/her performance during the final examination, according to the following criteria:
- the final commission can add up to 7,5 points (of which up to 6 points are given to the thesis) to the score assigned by the preliminary commission
- the final commission, after examining the candidate’s career documents from the Student Registry Office, can assign the points left for the number of exams passed with full marks and merit: 0 points for 1 exam; 0.5 points for 2 exams; 1 point for 3 to 4 exams; 1.5 points for 5 or more exams.
Honours and merits can be assigned to distinguished students for excellent curricula and thesis, upon request of the supervisor and approval of both the preliminary and the final commission. The final commission, however, can decide autonomously to assign honours and merits if the final sum of the average mark, the score for the career, the thesis and the number of full marks with merit is more than 110 out of 110.