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Master of Financial Risk Management

General Information

For additional information about important dates and times, please consult the Rotman HUB.

The Master of Financial Risk Management (MFRM) degree is a full-time program spanning ten months.

Rules and regulations for the Master of Financial Risk Management program are governed by the School of Graduate Studies (SGS) at the University of Toronto. The regulations of SGS are applicable, but not limited to, all matters relating to academic standards, examinations, course enrollment, and academic integrity. The SGS Calendar is available online.

The Managing Director, Specialized Programs is responsible for all aspects of the MFRM program and works closely with the Academic Director; the Vice-Dean, Specialized Programs; and the Dean of the Rotman School of Management to ensure a high quality student experience for all.


Curriculum information is available at Master of Financial Risk Management Curriculum.

Fees and Registration

The information provided on this page is specific to the Master of Financial Risk Management program. For general information on fees, including invoices; legal status; health insurance; making payments; tax forms; the Professional Student Loan Program; government assistance; sponsorship of tuition by a third party; additional and service charges; and restrictions and penalties on past due accounts, please see the Finances section.

The tuition fees charged for each session of registration have four components:

  1. Program Fees
  2. Rotman Ancillary Fees
  3. University Compulsory Incidental Fees
  4. University Non-Compulsory Incidental Fees

The following tables are estimates. Please refer to the University of Toronto’s Planning & Budget website for the most accurate and up-to-date fees schedules.

Annual Program Fees for the Master of Financial Risk Management

Class OfCanadian Citizens and Permanent ResidentsInternational Students on Student Authorization

In addition to the annual program fees noted above, students are required to submit payment for University mandatory incidental fees and Rotman ancillary fees. The University incidental fees amount to approximately $1,700 annually, which covers the terms from September–end-of-April and include campus fees and student society fees. Hart House privileges extend to end-of-August. The Rotman ancillary fees amount to approximately $1,500 annually, which covers the terms from September–end-of-August. Additional details, information, and finalized amounts will be updated as available and found on your fees invoice.

Rotman ancillary fees are charged by the School for services specific to the program. University incidental fees are charged by the University for services that are universal to all students: student unions; campus services, such as Hart House and the Athletic Centre; and electronic access fees for the cost of internet-based information access. This fee also includes health coverage and dental plan. Students with equivalent insurance elsewhere may opt out of these plans. Please visit the Graduate Students’ Union website for details.

The University Health Insurance Plan (UHIP) fee will automatically be added to fees invoices for International students only.

Note: The annual program fee, University incidental fees, and Rotman ancillary fees are set by the University and are subject to change. The University incidental fees amount noted above for future academic years are subject to approval by the Governing Council’s annual meeting each May.

Questions regarding how to Register Without Payment may be directed to the Registrar’s Office.


Team work is a substantial part of the Rotman MFRM program and plays a significant role in both the academic setting for course grades as well as training for professional life. The content and the workload within the MFRM Program are structured around the requirement for students to work successfully in project teams.

Team Support

Project teams or their individual members who, at any time, encounter difficulties or are unable to resolve team issues are recommended to contact the Associate Director and/or the course instructor to help resolve project team concerns.

Team Work and Academic Integrity

When working as a team, each team member is responsible for the work submitted collectively by the team. This includes work that may be considered academically dishonest, or in which an academic offence has been committed (as defined by the University’s Code of Behaviour on Academic Matters).

In other words, if one of your team members takes a shortcut and copies material from the internet or a past assignment, or simply isn’t aware of the rules regarding appropriate citation for sources consulted, the whole team faces consequences that may arise from an allegation of academic misconduct. It is up to each team member to be sufficiently familiar with the work being submitted; to check each other’s work for proper citations and originality; and to be aware of the relevant policies. As a general guideline, students should approach group assignments—and the checking of citations and originality—in the same manner that they normally would for an individual assignment; ultimately, ensuring the quality of the final product being submitted meets the standard of integrity.

Team Behaviours and Protocols

All students are expected to treat team work as they would in a business setting, ensuring professional behaviour at all times.

Professional behaviour in team settings includes (but is not limited to) the following:

  • Respecting and treating all others in a manner consistent with the Rotman Code of Conduct
  • Ensuring all team members voice their opinions, thoughts, and concerns
  • Taking personal responsibility to voice thoughts to benefit the team’s learning
  • Contributing equal time and effort to the project as others in the group
  • Committing to a standard of work agreed upon by the group
  • Participating in team projects at a level agreed upon by the entire team

The overall objective is to maintain a positive and productive team dynamic that will enhance the student’s learning experience. It is an ongoing policy of The Rotman School of Management to provide a supportive environment to maintain this objective.


Career Services

Rotman Career Services is committed to working closely with you to refine your career goals, market yourself efficiently, and network with people in a position to help you reach your targets. Career Services provides students with career support through a range of services, including:

1:1 Career Coaching Appointments and Workshops

  • Self-assessment
  • Job search strategies
  • Career advancement strategies
  • Networking techniques
  • Resume and cover letter review
  • Behavioural and technical interview preparation
  • Job offer and negotiation advice
  • Personal branding

Industry-Specific Speaker Events

  • Attend free industry-specific speaking events throughout the year
  • Participate in industry-specific student club events with alumni

For more information, visit the Career Centre Resources Website via the Rotman Hub.

Student Engagement

We encourage all students to get involved in Rotman student life. Not only does extra-curricular involvement provide students with opportunities for personal and professional growth, it also expands their network of faculty, industry professionals, and fellow students.

The MFRM program features student and alumni events, industry conferences, a speaker series, and other opportunities for engagement and leadership.

Class Representatives

MFRM class representatives are elected by students from each cohort. They act as a liaison between the students and the program administration. They also communicate important information about industry, professional, and social events. 

Specialized Graduate Programs Committee and Rotman Council

A Master of Financial Risk Management student representative is asked to sit on the Specialized Graduate Programs Committee and Rotman Council, acting as a representative of the program who is able to speak on behalf of MFRM students in governance discussions.

Graduate Business Council

The Graduate Business Council (GBC) is the student-elected representative organization at Rotman. The GBC acts as an umbrella for all clubs, sporting, and social activities, as well as a liaison with the faculty and school administration.


In addition to program feedback and evaluation across all Rotman programs, MFRM students are asked to complete a pulse-check survey at the end of each term and a program survey at the end of their final term. This is an opportunity for students to provide feedback on the program structure and services, and to make suggestions for improvement on the MFRM student experience.

Dean’s List

The Rotman School recognizes the top 20 per cent of the MFRM class with a Dean’s List based on cumulative GPA. To be eligible for consideration, students must be graduating, have obtained passing grades in all courses and be registered in good standing.

Note that Rotman does not publicly rank students or release information on student rankings; however, the lists themselves are formally published annually for convocation and internal School recognition.

Courses graded as CR/NCR, Pass/Fail, or Honours/Pass/Fail, do not count towards the GPA, nor do courses taken as EXTra. Late withdrawals (WDR) do not affect the GPA. Dean’s List notations are not included on the University of Toronto transcript.

In addition to the Dean’s List, the top 10 per cent of students earn the title Dean’s List, First Class, and the top student earns the title Dean’s List, with Distinction.

Master of Financial Risk Management Director’s Award

The Master of Financial Risk Management Director’s Award is given to an outstanding graduating MFRM student based on academic achievement and contributions to the program.

Program Directory

The faculty and administrative staff at Rotman are dedicated to supporting the efforts of each individual student to realize his or her fullest potential. The staff in the Master of Financial Risk Management Recruitment & Admissions OfficeOffice of Student EngagementRegistrar’s Office, and the Career Centre are available for consultation on all matters relating to the Master of Financial Risk Management program, including admissions; enrollment; registration; grade or course issues; financial assistance; international programs; career development opportunities; or special advising.

Academic Director: Ing-Haw Cheng
Managing Director, Specialized Programs: Mohammad Salhia
Director, Student Life Programs and Services: Dana Andrews
Associate Director, Program Services: Katarina Vitek
Program Manager, Specialized Programs: Tanya Saini and Priya Sivathason
Director, Recruiting and Admissions: Fiona Duley
Assistant Director, Recruiting and Admissions: Elaine O’Neal
Recruiting and Admissions Officer: Faiza Ishaq
Director, Career Services: Lyla Korhani
MFRM Career Consultant, Career Services: Mahsa Mashayekhi

General Questions/Assistance/Advice:

Last Updated: 2022-11-29 @ 5:33 pm