M. Sc. FACT - specialization in Risk & Finance

The financial and quantitative management and planning of companies are fields of activity in which complexity continues to increase. Quantitative, mathematical-statistical methods and procedures are becoming increasingly important. The world is in a dynamic environment of external influences such as political decisions, pandemics and Business Studies crises, so there is a demand for highly qualified graduates who have a clearly quantitative qualification profile and are able to deal with current challenges in a structured manner. The Risk & Finance stream of the Master's degree program in Finance, Accounting, Controlling, Taxation offers a targeted education that is geared towards the current requirements of the industry. The analysis of data, the creation of meaningful key figures and the ability to evaluate timeseries are important quantitative characteristics in this field of work on which the focus is placed in this stream. In addition, qualitative aspects for assessing companies and their risks also play a major role, which round off the training profile with basic knowledge of the legal conditions of the financial market.

Graduates of the Risk & Finance stream have a well-rounded portfolio of knowledge with which they can meet the requirements of the industry. They are able to develop economic solutions for companies, associations and authorities. They know which quantitative methods are used by financial service providers and in risk management. You will be able to identify successful management tools and implement them in the company.

In addition to possible employment with financial service providers such as banks and insurance companies, you will be able to work in large and internationally operating companies as well as in auditing and consulting firms. If you would like to work as a risk analyst, investment advisor, fund manager, treasury specialist, etc. later on, this stream is ideal for you.

• The general approach to risk management with subsequent in-depth study of quantitative risk models, risk management instruments and risk financing, reinsurance and risk transfer as well as risk capital models
• Sound knowledge of financial management with a focus on the basic principles of corporate finance, the relationship between risk and return, determining the cost of capital, company valuation and debt as well as project valuation.
• Methods for multivariate analysis, econometrics, data science also in the context of case studies for data processing on the PC, for example with Excel, SPSS, R and Python.
• The structure of European regulation of the financial market with application examples, implementation of the IDD and MiFID directives in German law, economic consequences of financial market regulation, outlook for further regulatory steps and international comparison of the implementation of financial market regulation.
• Definition of risk and its determinants and forms, instruments for quantifying risks, risk transfer through insurance, valuation and pricing of insurance risks, economic capital and risk capital.
• Complex capital value calculation and bond valuation using Excel, interest rate structure models, portfolio theory and its application, data analysis and basics of VBA (Visual Basic for Applications) programming.

• ...the quantitatively oriented stream teaches application-oriented and practice-relevant tools that allow the models to be adapted even in a dynamic environment, thus offering a qualified education that meets today's labor market requirements.
• ...the addition of qualitative content results in a well-rounded profile that includes comprehensive knowledge of financial management and risk management.
• ...current topics and project-oriented case studies are anchored modularly in the course of study, thus ensuring the continuous integration of new trends into the program.
• ...in addition to the "Risk&Finace" specialization, which qualifies students for a position in treasury, the course also imparts a broad range of knowledge from all areas of finance, which can lay the foundation for a possible career in financial management as a Chief Financial Officer (CFO).

The following compulsory modules must be taken in the Risk & Finance stream in the three-semester study variant:

In the four-semester study option, the first and second semesters are identical to the three-semester study option. The third semester includes a practical semester or a semester abroad. The thesis and colloquium follow in the fourth semester.

The compulsory elective modules/electives can be chosen from the following range:

In the first semester, one "Elective A" and one "Elective B" must be chosen. In the second semester, two electives must be chosen from the range listed.

Anyone wishing to study this stream must have:

A Bachelor's degree in finance, business administration, economics, business studies, economics or similar, with at least 75% of the Bachelor's degree being in economics.

• is in good hands in investment management, capital management, risk management and auditing.
• works for internationally active financial/industrial or service groups, in medium-sized companies, in auditing, management consultancy or regulatory authorities.
• is aiming for a career in senior financial management with the ultimate goal of becoming a CFO.
• is doing a doctorate, for example in cooperation with Fachhochschule Dortmund.