Financial Risk Management

Monday 5 August - Friday 16 August , 2019

2 weeks = 5 ECTS

Course Description

This course focuses on enterprise risk management (ERM) in turbulent economics. It includes most of recent changes in compliance, risk management and corporate governance. A set of lectures and practical cases on how the system of ERM and intra-corporate corporate governance is structured; how to design and evaluate its efficacy; how to identify, analyze, and evaluate different types of corporate risks, how to prepare and and interpret financial reports. Theoretical background of this course improves with game theory approach, some topics are studied using STATA software.

The course covers the following topics:

Patterns of risk management
Standartization vs framework
What do stakeholders expect from risk management?
How to build a corporate risk-oriented culture
Transparency and clearness of management results
Benchmarking of corporate risk-management
Compliance
Models of internal audit/control/risk-management effectiveness evaluation
Maturity of internal audit/control/risk-management
How does risk-management reduce the consequences of short-termism
Preparing and interpreting corporate financial information

Teaching methods

The course lasts two weeks (30 hours per week), and includes lecturers, workshops, case studies. Final assessment will be done upon the results of individual project work.

Prerequisites

The course is provided for postgraduates with basic knowledge of financial and risk management, time value, probability models; knowledge of financial math.

Applicants are selected on the basis of a motivation letter. You are welcome to submit a research project too (optional). Research proposals might be presented during the "open day". The best one will be published.

Learning outcome

Students will acquire knowledge and skills of what can internal audit/control/risk management departments do to improve corporate sustainability within the framework of corporate governance.