FINANCIAL ACCOUNTING
Students will examine the generally accepted account principles (GAAP) underlying financial statements and their implementation in practice. The perspective and main focus of the course is from the users of the information contained in the statements, including investors, financial analysts, creditors and, management. By the end of this class students will be able to construct a cash flow statement, balance sheet and decipher a 10K report.
- T 8:10 p.m.-10 p.m.
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Instructor:
Melissa Hall
Info - 3 points
VALUE-BASED ENTERPRISE RISK MANAGEMENT
VALUE-BASED ERM
Foundational ERM course. Addresses all major ERM activities: risk framework; risk governance; risk identification; risk quantification; risk decision making; and risk messaging. Introduces an advanced yet practical ERM approach based on the integration of ERM and value-based management that supports integration of ERM into decision making. Provides a context to understand the differences between (a) value-based ERM; (b) traditional ERM; and (c) traditional "silo" risk management.
EXTERNAL STAKEHOLDER REQUIREMENTS
Provides a global review of ERM requirements of regulators, rating agencies, and shareholders. Addresses three industry sectors: (1) insurance; (2) banking; and (3) corporate.
- T 6:10 p.m.-8 p.m.
- R 6:10 p.m.-8 p.m.
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Instructor:
Rich Lauria
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Instructor:
R S Forston
Info - 3 points
STRATEGIC RISK MANAGEMENT
Review of the types of strategic risks, such as a flawed strategy, inability to execute the strategy, competitor risk, supply chain risk, governance risk, regulatory risk, M&A risk, international risk, etc. Includes case studies, research, and common mitigation techniques, such as strategic planning practices, management techniques, governance practices, supply-chain management, etc.
- M 6:10 p.m.-8 p.m.
- R 6:10 p.m.-8 p.m.
- T 8:10 p.m.-10 p.m.
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Instructor:
Violet Diamant
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Instructor:
Yvonne Pytlik
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Instructor:
Celia Kapsomera
Info - 3 points
OPERATIONAL RISK MANAGEMENT
Review of the types of operational risks, such as technology risk (e.g., cyber-security), human resources risk, disasters, etc. Includes case studies, risk analysis frameworks and metrics, and common mitigation techniques, such as insurance, IT mitigation, business continuing planning, etc.
- W 6:10 p.m.-8 p.m.
- M 6:10 p.m.-8 p.m.
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Instructor:
Penny Cagan
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Instructor:
Rossano Rossi
Info - 3 points
INTRO TO QUANTITATIVE RISK MANAGEMENT
INTRO TO QUANT RISK MGMT
Students without a strong math background and experience with Excel will require significant additional time and effort to achieve the learning objectives and work through the course assignments.
This course builds a foundation in the mathematics and statistics of risk management. Students are empowered to understand the output of quantitative analysts and to do their own analytics. Concepts are presented in Excel and students will have the opportunity to practice those concepts in Excel, R or Python.
This course is a required prerequisite for registering for the following courses: Coding for Risk Management, Financial Risk Management, Quantitative Risk Management, Credit Risk Management, Market Risk Management, Credit Risk Analytics, Applied Coding for Risk Management, Derivatives Risk Management, Model Risk Management, ERM Modeling, and Machine Learning for Risk Management.
- W 8:10 p.m.-10 p.m.
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Instructor:
David J Romoff
Info - 3 points
CODING FOR RISK MANAGEMENT
Equips students with the ability to adopt the programming culture typically present in the ERM/risk areas of most financial organizations. By studying Python, SQL, R, git, and AWS, students gain exposure to different syntaxes. Students apply these skills by coding up market risk and credit risk models. Students also gain familiarity with working in the cloud.
- M 8:10 p.m.-10 p.m.
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Instructor:
David J Romoff
Info - 3 points
FINANCIAL RISK MANAGEMENT
A survey of market, credit, liquidity, and systemic risk. Includes case studies, risk quantification methods, and common mitigation techniques using portfolio management, hedging, and derivatives. Also addresses traditional risk management practices at banking institutions.
- T 6:10 p.m.-8 p.m.
- M 6:10 p.m.-8 p.m.
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Instructor:
Marcus Eich
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Instructor:
Justin Hon
Info - 3 points
CREDIT RISK MANAGEMENT
Credit Risk Management requires business acumen, the monitoring of internal and external data, disciplined execution, and organizational intelligence. A solid understanding of this enables a credit risk manager to help organizations achieve their objectives. Through readings, case studies, and modeling projects, students learn how risk managers decide on credit risk management strategy applied throughout the client lifecycle.
- R 8:10 p.m.-10 p.m.
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Instructor:
Rahmi E Aktug
Info - 3 points
MARKET RISK MANAGEMENT
This course provides the tools to measure and manage market risk in the context of large financial institutions. The volume and complexity of the data itself, at large institutions, makes it a challenge to generate actionable information. We will take on this challenge to master the path from data to decisions.
We cover the essential inputs to the engines of financial risk management: VaR, Expected Exposure, Potential Exposure, Expected Shortfall, backtesting, and stress testing as they apply to asset management and trading. We explore the strengths and weaknesses of these different metrics and the tradeoffs between them. We also cover how regulatory frameworks impact both the details and the strategy of building these engines. Lastly, we cover counterparty-credit methodologies, mainly as they apply to Trading Book risk.
- M 6:10 p.m.-8 p.m.
- T 8:10 p.m.-10 p.m.
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Instructor:
Jeffrey Nisen
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Instructor:
Peter L Russo
Info - 3 points
BLOCKCHAIN AND ERM
Using Blockchain, decisions can be made without relying on a single centralized authority, allowing for greater transparency and trust between participants. By using smart contracts and distributed ledgers, users can easily create, modify, and manage agreements between stakeholders, ensuring that all parties have access to the same information and can make informed decisions. As a result, Blockchain technology reduces the risks associated with decision-making, and improves efficiency and accuracy. This course first examines the risks and rewards of implementing Blockchain at large organizations engaging in decentralized decision-making processes. The course then explores the Blockchain as a tool for risk management.
- W 8:10 p.m.-10 p.m.
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Instructor:
Ivan Bakrac
Info - 3 points
COMPANY FAILURES
Examination of areas critical to an organization’s success from strategic, operational, financial, and insurance perspectives, and examines why many companies fail in spite of the vast knowledge of factors driving success. Several case studies examined in depth.
- T 8:10 p.m.-10 p.m.
- W 8:10 p.m.-10 p.m.
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Instructor:
Rajat Baijal
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Instructor:
Steve Lindo
Info - 3 points
RISK REGULATIONS IN FINANCE
This course examines post-financial crisis regulations including Basel III, Fundamental Review of the Trading Book (FRTB), Dodd-Frank Act, Supervision and Regulation Letter 11-7 (SR 11-7), and others. Case studies will explore the technical details of these new rules; and guest lectures from industry experts will bring the material to life. Areas of focus include: model risk management, stress testing, derivatives, and insurance. By the end of this course students will be able to:
Evaluate the purpose and limitations of risk regulations in finance.
Identify and communicate weaknesses in a financial firm.
Communicate with regulators.
Understand Recovery and Resolution Plans or “Living Wills” for a financial firm.
- T 8:10 p.m.-10 p.m.
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Instructor:
Lisa Broomer
Info - 3 points
ESG AND ERM
ESG will be a driving force in risk management in upcoming years. ERM / Risk professionals need a solid understanding of emerging ESG trends and regulations and how they apply to day-to-day job responsibilities. The ESG and ERM course begins with an overview of the ESG landscape and framework. After a foundational understanding is established, the course focuses on incorporating ESG into enterprise risk management, including identification, quantification, decision making, and reporting of ESG-related risks.
- R 8:10 p.m.-10 p.m.
- R 6:10 p.m.-8 p.m.
- M 8:10 p.m.-10 p.m.
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Instructor:
Harish Dakshina
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Instructor:
Tahmina Day
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Instructor:
Helda Rock
Info - 3 points
MANAGING STAKEHOLDER RISK IN THE ORGANIZ
In this course, students study major concepts of management and organization theory to understand human behavior in an organizational context, and then learn how to apply this to better manage interactions with key ERM stakeholders. Students will learn how to accomplish key ERM activities effectively while preserving and enhancing key internal relationships.
The course provides a deep dive into how enterprise risk functions operate within organizations, blending theoretical frameworks with practical, real-world applications. Topics include individual and organizational psychology, risk culture, organizational structure and governance, and the dynamics of managing risk in complex institutions. Through case studies and class discussions, students explore the behavioral and structural dimensions that shape ERM practices.
This elective is open only to students within the ERM program. This course (MSRO) is analogous to Managing Human Behavior in the Organization (MHBO), but customized for an ERM role. As a result, ERM students may not register for MHBO and those that have already taken MHBO may not register for MSRO.
- M 6:10 p.m.-8 p.m.
- W 8:10 p.m.-10 p.m.
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Instructor:
Kristen Walters
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Instructor:
Ann Breslawski
Info - 3 points
Internship in ERM
Internship with Industry (1.5 credits, asynchronous online, elective) supports graduate students as they complete a supervised internship aligned with their academic program and career goals. Through targeted readings, short video lectures, structured reflection, and peer interaction, students connect internship experiences to career frameworks and workplace competencies. Course modules emphasize goal setting (SMART goals), self-awareness and communication (DiSC), career design and prototyping (Designing Your Life; Life Grid and Energy Mapping), persistence and performance (GRIT), and navigating change (VUCA, including reflection on emerging technologies such as AI). Students produce artifacts that document progress, analyze workplace context, and translate learning into career direction through a final synthesis reflection.
The course requires a minimum of 105 internship hours and completion of a supervisor evaluation through the Experiential Learning Module.
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Instructor:
Mariela Torres
Info - 1.5 points
INFORMATION TECHNOLOGY RISK MANAGEMENT
IT RISK MANAGEMENT
Students will learn how to better identify and manage a wide range of IT risks as well as better inform IT investment decisions that support the business strategy. Students will develop an instinct for where to look for technological risks, and how IT risks may be contributing factors toward key business risks. This course includes a review of IT risks, including those related to governance, general controls, compliance, cybersecurity, data privacy, and project management. Students will learn how to use a risk-based approach to identify and mitigate cybersecurity and privacy related risks and vulnerabilities. No prior experience or technical skills required to successfully complete this course.
- W 6:10 p.m.-8 p.m.
- R 8:10 p.m.-10 p.m.
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Instructor:
Shahryar Shaghaghi
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Instructor:
Adam Ely
Info - 3 points
THIRD-PARTY RISK MANAGEMENT
As organizations increasingly rely on external vendors and service providers, managing third-party risks becomes paramount to ensure operational resilience, regulatory compliance, and strategic success. Challenges include:
The evolving nature of technology risks.
The impact of geopolitical tensions.
The lessons learned from disruptive events like pandemics.
By offering a comprehensive curriculum covering everything from the basics of vendor management to advanced predictive TPRM models and emphasizing regulatory requirements specific to the financial services sector, the course equips professionals with the knowledge and tools needed to navigate the intricate web of third-party relationships.
Students taking this course are prohibited from taking Supply Chain Risk Management for Non-Financials (ERMC PS5585) at any time. Contact your advisor for more information.
SUPPLY CHAIN RISK MANAGEMENT FOR NON-FIN
SUPPLY CHAIN RM FOR NON-F
The Pandemic made us all aware of the fragility of supply chains and how significant the consequences of failure of our supply chains can be. It is paramount to note that global and local economies can break down, and scarcity of essential resources can foment wars. Risk professionals must know what best practices bring security to supply chains and related companies, governments, and other institutions.
Students taking this course are prohibited from taking Third-Party Risk Management (ERMC PS5575) at any time. Contact your advisor for more information.
- R 8:10 p.m.-10 p.m.
- M 8:10 p.m.-10 p.m.
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Instructor:
Sunil Tandon
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Instructor:
Bryce Wolf
Info - 3 points
COGNITIVE BIAS & ERM
Explores key concepts of behavioral economics and cognitive psychology, how to identify key cognitive biases in ERM activities, and how to apply techniques to address these, enhancing the quality and integrity of an ERM program. The course also includes best practices in leveraging analytic models to improve decision making.
- W 8:10 p.m.-10 p.m.
- W 6:10 p.m.-8 p.m.
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Instructor:
Narae Lee
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Instructor:
Rich Lauria
Info - 3 points
CAREER ACCELERATION
This highly experiential course helps students design, launch, and sustain a successful career. Blending scholarly foundations with practical tools and hands-on coaching, this course guides students through identifying their personal strengths and professional identity, developing a compelling personal pitch, and building the skills needed to navigate interviewing, networking, teamwork, organizational culture and change. Each session integrates theory, applied practice, and structured role-play with peer feedback, enabling students to move beyond a job search mentality toward a proactive, values-aligned approach to career development and long-term professional success.
- T 6:10 p.m.-8 p.m.
- 1.5 points
GLOBAL FINANCIAL SERVICES IN THE 21ST CE
GLOBAL FIN SERV IN THE 21
This course offers students a strategic and applied framework for understanding the global financial services industry, spanning commercial and investment banking, asset and wealth management, central banking, and financial regulation.
Students will examine the sector’s evolution, current challenges, and future direction. Topics include risk management, regulatory change, global competitive positioning, and the strategic dilemmas facing today's financial CEOs.
The course emphasizes leadership and critical thinking over technical specialization, and culminates in a team-based final project. The course is intended for students preparing for leadership roles in global finance..
Delivered in person during Summer Session A, this 1.5-credit elective course is open to graduate students across the School of Professional Studies and other Columbia University programs. There are no specific competencies, prerequisite knowledge, or prior coursework in the discipline required to enroll.
- M 2:10 p.m.-4 p.m.
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Instructor:
Richard Goldberg
Info - 1.5 points
BANKING AND TECHNOLOGY: FINANCIAL SERVIC
BANK & TECH: FIN SERV DIG
This course offers students a strategic and applied framework for understanding the transformative impact of financial technology (FinTech) on the global banking and financial services industry. Through case studies, industry analysis, and collaborative projects, students will explore how traditional banks, fintech unicorns, and big tech firms are reshaping the competitive landscape.
The course traces the evolution of fintech across the payment network, while examining the rise of disruptive technologies such as artificial intelligence, open banking, and digital currencies, including CBDCs, and cryptocurrencies. Students will also analyze the regulatory and governance challenges emerging from rapid innovation in financial services.
Emphasizing strategic thinking, leadership, and applied analysis over technical specialization, the course culminates in a team-based final project. It is designed for students aspiring to leadership roles in the evolving global digital financial ecosystem.
Delivered on-line during Summer Session B, this 1.5-credit elective course is open to graduate students across the School of Professional Studies and other Columbia University programs. There are no specific competencies, prerequisite knowledge, or prior coursework in the discipline required to enroll.
- T 2:10 p.m.-4 p.m.
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Instructor:
Richard Goldberg
Info - 1.5 points
ERM CAPSTONE
Teams will work through a case assignment, demonstrating mastery of key learnings gained throughout the program on an integrated basis. A simulated case study is used: this is a combination of publicly-available information of an actual company and simulated ERM program details, based on a blend of current ERM programs and practices in the marketplace. Each team will assess the case study and recommend enhancements.
- M 6:10 p.m.-8 p.m.
- T 8:10 p.m.-10 p.m.
- W 6:10 p.m.-8 p.m.
- R 8:10 p.m.-10 p.m.
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Instructor:
Richard R. Ranade
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Instructor:
Yi Zuo
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Instructor:
Xue Bai
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Instructor:
Jiajing Wang
Info - 3 points
Internship In ERM
This course requires you to experience firsthand a program-related job in a real working environment. You will engage in personal, environmental and organizational reflection. The ideal Internship will provide you an opportunity to gain tangible and practical knowledge in your chosen field by taking on a position that is closely aligned with your coursework and professional interests. Before registering for this course, you must have completed the Internship Application Form in which you will describe your internship sponsor and provide details about the work that you will be doing. This form must be signed by your internship supervisor and approved by your program director BEFORE you register for this course.
To receive instructor approval, the internship:
● Must provide an opportunity for the student to apply course concepts, either at the organizational or team level
● Must fit into the planned future program-related career path of the student
You must identify your own internship opportunities. The internship must involve a commitment to completing a minimum of 210 hours over the semester.
At the end of your course, you will submit an evaluation form to your internship supervisor. The evaluation form should be returned directly to the instructor
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Instructor:
Hannah Salto
Info - 3 points