Rotman School of Management, University of Toronto

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Program overview

Eight months that will focus your potential

The Master of Financial Risk Management is a full-time program that runs from September to April.

The program, in brief

MFRM Program Schedule: Fall Academic Session (August to mid-November) | Risk Management Project (Mid-November to January) | Spring Academic Session (Febraury to April)

September to November, five courses

  • Market Risk
  • Financial Markets, Risk and Institutions
  • Regulation of Financial Institutions
  • Operational Risk
  • Probabilistic Modeling for Risk-Informed Decisions

December to January: Risk Management Project

The integrated Risk Management Project is a major research project involving a risk management issue that is relevant and of interest to financial institutions. Students will work closely with practicing risk management professionals, while receiving oversight from faculty mentors. They will present their findings to practitioners, fellow students and faculty in early February.

Samples of project topics for the 2016-2017 year include:

  • Present the pros and cons of hedging FX exposure for a pension plan
  • Estimate trading book loss due to global market shocks for CCAR
  • Compare the reliability and relevance of different liquidity metrics
  • Propose a technology solution for non-cleared OTC derivatives
  • Assess the impact of IRRBB regulation on Canadian banks 

February to April, five courses:

  • Credit Risk
  • Macroeconomics for Financial Risk Management Professionals
  • Derivative Models for Risk Management
  • Advanced Investments
  • Risk Management for Pension Funds and Insurance Companies

Detailed course descriptions give you a sense of what you will learn. 

Throughout the program there will be presentations (both as part of scheduled classes and outside scheduled classes) with practitioners working in different areas of risk management. Curriculum is subject to change.

Experiential elements

The program includes a wide variety of experiential and online learning opportunities for you to participate in continuous learning, communication and collaboration.

The experiential coursework provides you with learning experiences that are:

  • Relevant: Involving business data and simulations that mimic real-life risk experiences
  • Engaging: Enjoy rich, interactive online content
  • Hands-on: Allowing you to put theory into practice in a learning environment

Communications and networking opportunities

Feedback from industry senior executives across the financial sector puts communication ‘soft skills’ excellence as essential for success. Throughout the program, students will have opportunities to:

  1. Enhance presentation skills through co-curricular professional development workshops and by presenting throughout the program 
  2. Develop professional presence, communication and networking skills through extracurricular workshops 

Self-Development Lab (SDL)

Sessions in small groups help to develop your communication, professional and interpersonal skills. The feedback-based learning style allows you to improve your skills immediately and serves to complement your theoretical learning in the classroom.

You can find out more about the way MFRM students interact with the Self-Development Lab by visiting the SDL webpages.

Rotman's Master of Financial Risk Management

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Applications are closed for 2019 entry.

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Key Facts


  • 8 months, full-time


  • September, one intake per year

Tuition fee (2019 entry):

  • Domestic = $39,850 CAD
  • International = $63,430 CAD

Fees are pending formal approval of the University of Toronto's Governing Council.

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