Predictive Analytics and Risk Management: Enterprise Risk Management, MS

for the Master of Science in Predictive Analytics and Risk Management, Enterprise Risk Management concentration

department chair: Vera Hur

director of graduate studies: Yuliy Baryshnikov

overview of admissions & requirements:

overview of grad college admissions & requirements:

department website:

program website:

department faculty:

college website:

department office: 273 Altgeld Hall, 1409 West Green Street, Urbana, IL 61801

phone: (217) 333-5749


Prepares students for the nascent profession of predictive analytics; it provides background and skill sets for data analytics with focus on financial and insurance industries. A student successfully finishing the program will typically have acquired a broad foundation of machine learning and predictive modeling techniques to forecast outcomes and glean valuable insights that can lead to better-informed business and investment decisions.

The assessment of the above-stated learning objectives will include:

  • the job placement/graduate school acceptance rates
  • feedback from employers
  • graduate satisfaction surveys

These assessments will be conducted on an annual basis. We conduct exit surveys on all students each year, which should provide data on graduate students’ job placement and graduate school acceptance rates. On the survey we will design questions to assess student’s overall evaluation of these learning objectives. The curriculum was developed in close collaboration with industry partners. We expect to maintain close relationship with them and seek their feedback on the quality of our graduates on a regular basis.

Graduate Degree Programs in Mathematics

Actuarial Science, MS

Applied Mathematics, MS

Mathematics, MS

Predictive Analytics and Risk Management, MS

Enterprise Risk Management | Financial and Insurance Analytics

Mathematics, PhD

optional concentrations:

Actuarial Science & Risk Analytics

Computational Science and Engineering

Teaching of Mathematics, MS

for the Master of Science in Predictive Analytics and Risk Management, Enterprise Risk Management concentration

Core Requirements (12 hours):
FIN 530Foundations in Risk Management2
ASRM 410Investments and Financial Markets4
ASRM 539Risk Analytics and Decision Making2
ASRM 555Advanced Predictive Analytics4
Concentration Required Courses (see below)12
Electives (see below)8
Total Hours32

Other Requirements 

Other requirements may overlap
A concentration is required.
Minimum 500-level Hours Required Overall:12
Minimum GPA:2.75

Enterprise Risk Management Concentration 

Required Courses:12
Investment Banking
Financial Risk Management
Risk Management Practices and Regulation
Choose two of the following:
Stochastic Processes for Finance and Insurance
Topics in Actuarial Science
Financial Mathematics
Risk Analytics and Decision Making (if not taken as a core requirement)
Loss Data Analytics & Credibility
Extreme Value Theory and Catastrophe Modeling
Life Insurance and Pension Mathematics
Advanced Topics in Actuarial Science and Risk Analytics
Property-Liability Insurance
Financial Derivatives
Applications of Financial Engineering
Valuation of Complex Derivative Securities
Fixed Income Portfolios
Behavioral Finance
International Finance
Special Topics in Finance (Big Data Analytics)
Individual Study and Research
Risk Modeling and Analysis
Statistical Learning
Individual Study and Research