Financial risk managers are concerned with maximizing the value of financial instruments such as stocks and bonds by minimizing risk. To obtain a master’s degree in financial risk management, you must first obtain a bachelor’s degree in a field such as finance or economics. In most cases, passing proficiency exams and obtaining letters of recommendation from either business or finance instructors or professional contacts are also required. A statement of purpose may be required to obtain a master’s degree in financial risk management.
A master’s degree in financial risk management typically leads to work in the financial industry for a financial services firm or an advisory firm. This type of professional may also work for a non-financial company, where he or she can provide investment advice to financial management. A master’s degree in financial risk management is also commonly used to pursue a doctorate in a related field and to teach financial risk management courses at the undergraduate or graduate level. Academic financial risk management experts may also conduct research, write papers, and present them.
A person who wants to get a master’s in financial risk management should have an undergraduate degree in economics or finance, though it may be possible to get into a graduate program with a background in mathematics, statistics, or engineering in some cases. Regardless, anyone interested in enrolling in a financial risk management program should be able to perform complex mathematical calculations and use financial software. It’s also crucial to have a solid grasp of various financial instruments, as well as a basic understanding of market and credit risk. If you already have an undergraduate degree, you should research the requirements of various programs before enrolling in classes to make up for any credits you may have missed.
A person pursuing a master’s degree in financial risk management almost always requires several reference letters. In most cases, having at least three different references is a good idea. Academic references, such as those from finance or mathematics professors, are usually accepted by most schools. However, if you have been out of school for a while and are concerned that your academic references are no longer relevant to your skills, you should be able to select professional references. Regardless, it’s critical that your references can attest to your commitment to this field, professionalism, and potential to contribute significantly to the field of financial risk management.