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Master of Financial Risk Management Curriculum


Master of Financial Risk Management (MFRM) students take 10 courses over two terms and also complete the Rotman Risk Management Project between terms.

Note: This is a tentative schedule for the Master of Financial Risk Management program and is subject to change. Courses in this program are not open to other University of Toronto students or the general public.

MFRM Course Calendar 2022–23

Fall and Spring Terms

  • RSM6311 – Rotman Risk Management Project
Fall TermSpring Term
RSM6303 – Regulation of Financial InstitutionsRSM6301 – Topics in Financial Risk Management
RSM6304 – Operational RiskRSM6302 – Financial Markets, Risk and Institutions
RSM6308 – Advanced InvestmentsRSM6305 – Credit Risk
RSM6310 – Derivative Models for Risk ManagementRSM6306 – Probabilistic Modelling for Risk-Informed Decisions
RSM6313 – Innovations in Financial TechnologyRSM6307 – Macroeconomics for Finance Professionals

Term Dates and Academic Schedule

Academic Schedule

MFRM courses are scheduled Monday through Friday. Classes are generally two hours in length (any exceptions will be communicated to the class).

Each student’s course schedule is available on the Rotman Hub. There are also links to view the schedule in several formats, including a downloadable format that is compatible for importing into most PDAs and MS Outlook. Please note that from time to time, it may be necessary to cancel or re-schedule classes and consequently, students are well-advised to view their personal schedules on a regular basis.

Class Meetings Schedule

The schedule of class meetings is published at the beginning of the academic year. On occasion, there are changes to the meeting schedule that may impact the time or location of the class. The Program Services Team will make every effort to notify students of any such changes well in advance.

Course Changes

For each program of study offered by the University through the Rotman School of Management, the courses necessary to complete the minimum requirements of the program will be made available annually. The Rotman School, however, reserves the right to change the content of courses, instructors and instructional assignments, enrolment limitations, pre-requisites, co-requisites, grading policies, and timetables without prior notice.

Course Selection

Students are automatically enrolled in courses upon payment of tuition fees. Due to the integrated nature of the MFRM curriculum, courses must be taken in the sequence outlined in the program curriculum. All MFRM courses are mandatory. Students who experience difficulty with the course load or a particular subject should consult the Associate Director for advice.

Adding or Dropping Courses

Once a student has enrolled in a core course, they remain enrolled unless they officially request to drop the course. There are official dates by which a student must withdraw without academic penalty, otherwise, a failing mark will appear on their record. In order to drop a core course—without academic penalty—no more than 50% of the course contact hours have been completed. Should you need to drop a course, a formal request must be made in writing by emailing the Associate Director.

If unusual circumstances beyond the student’s control mean that the student will not be able to complete the coursework given reasonable extensions, graduate units may consider—with appropriate documentation—requesting late withdrawal (“WDR”). A WDR (Withdrawal Without Academic Penalty) notation will be entered on a student’s official transcript, however, it carries no credit for the course and is not considered for averaging purposes. While the Graduate Unit may support/recommend the late withdrawal request, final decision rests solely with the School of Graduate Studies.

Course Materials and Course Work

Course Packages and Textbooks

The cost of course packages and textbooks for all Master of Financial Risk Management courses is covered in the compulsory Rotman ancillary fee assessed to students (on the tuition fee invoice).

Copyright in Course Lectures

If a student wishes to record, photograph, video-record, or otherwise reproduce lecture presentations, course notes ,or similar material provided by instructors, they must obtain the instructor’s written consent beforehand. Otherwise, all such reproduction is an infringement of copyright and is absolutely prohibited. In the case of private use by students with special needs, the instructor’s consent will not be unreasonably withheld.

Submission of Assignments and Examinations

All assignments in Master of Financial Risk Management courses must be submitted by the specified deadline as indicated by the course instructor on the course syllabus, unless otherwise noted by the instructor. Any assignment received after this time will be noted by the Registrar’s Office staff. The introduction of late penalties (or special consideration) is at the instructor’s discretion.

Students must use the Individual or Group Assignment Cover Page when submitting any materials unless otherwise noted by the instructor. The Assignment Cover Page templates are available on the Rotman Hub.

Leave Policy

Students registered in the Master of Financial Risk Management program may apply to the Director, Academic Services for a one-term to three-term (one academic year) leave during their program of study for:

  • Serious health or personal problems which temporarily make it impossible to continue in the program
  • Parental leave by either parent at the time of pregnancy, birth or adoption, and/or to provide full-time care during the child’s first year. Parental leave must be completed within twelve months of the date of birth or custody. Where both parents are graduate students taking leave, the combined total number of sessions may not exceed four.

Students may make an application for a leave by completing the School of Graduate Studies Leave Request form and submitting it to the Director, Academic Services for approval. Note that the lock-step nature of the MFRM program makes one or two term leaves difficult. Three term leaves (one academic year) are possible.

The termination date of the degree program (i.e. expected graduation date) will be extended by the duration of the leave taken (i.e. one, two, or three sessions as appropriate). Except for parental leave or in exceptional circumstances, it is not expected that a student will be granted more than one leave under the terms of this policy. Normally the start and finish of the leave would coincide with the start and end of a term.

School of Graduate Studies policies dictate that students on leave do not have access to University resources. As such, MFRM students who are on leave will not be able to attend or audit courses; will not have card access to the Rotman building(s); and will not have access to Career Services. However, students will continue to have access to their Rotman email accounts to enable communication with the School for the duration of the leave.

Students on a leave are responsible for the monthly interest payments on their Professional Student Loan Plan for the duration of their leave. Students are advised to contact the Registrar’s Office to discuss eligibility for Rotman or University of Toronto scholarships or award reinstatement upon return. In the case of external awards, the regulations of the particular granting agency apply and students are advised to contact the granting agency directly.

Graduation Requirements

Students must satisfactorily complete all 11 required courses in order to meet the graduation requirements of the Master of Financial Risk Management Program.

Last Updated: 2022-05-06 @ 3:42 pm