Predictive Analytics and Risk Management: Enterprise Risk Management, MS

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

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

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
FIN 526
Investment Banking
FIN 537
Financial Risk Management
ASRM 533
Risk Management Practices and Regulation
Electives:8
Choose two of the following:
ASRM 409
Stochastic Processes for Finance and Insurance
ASRM 499
Topics in Actuarial Science
ASRM 510
Financial Mathematics
ASRM 539
Risk Analytics and Decision Making (if not taken as a core requirement)
ASRM 561
Loss Data Analytics & Credibility
ASRM 569
Extreme Value Theory and Catastrophe Modeling
ASRM 575
Life Insurance and Pension Mathematics
ASRM 595
Advanced Topics in Actuarial Science and Risk Analytics
FIN 431
Property-Liability Insurance
FIN 511
Investments
FIN 512
Financial Derivatives
FIN 513
Advanced Financial Derivatives
FIN 514
Valuation of Complex Derivative Securities
FIN 515
Fixed Income Portfolios
FIN 519
Behavioral Finance
FIN 551
International Finance
FIN 580
Special Topics in Finance (Big Data Analytics)
FIN 590
Individual Study and Research
MATH 563
STAT 542
Statistical Learning
STAT 590
Individual Study and Research

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

Department Chair: Feng Liang
Unit website
Program website
Program Office: 264 Computing Application Bldg., MC-382, 605 E Springfield Ave, Champaign, IL 61820
Phone: (217) 300-5630
Email: PARM@illinois.edu

College of Liberal Arts & Sciences

College of Liberal Arts & Sciences website

Admissions

Graduate College Admissions & Requirements
Overview of Program Admissions & Requirements