Obtain decision-making skills and apply risk-management techniques to navigate the risks facing your organization in today’s high-stakes business environment.
The University of Chicago’s eight-week, online Decision-Making and Risk Management course prepares you to create risk management strategies and how to implement them. This course gives you the keys to securing and driving business outcomes and to understanding the role of risk management in decision-making.
Designed for risk analysts, compliance analysts, financial analysts, regulatory examiners, and managers who wish to learn the importance of making strategic decisions in a risk environment.
This course focuses on the fundamental concepts, definitions, principles, and practices in risk management from the perspectives of the corporation, the market, and the regulator. It is taught based on Harvard Business Review (HBR) cases and articles on financial risk management.
After completing the Decision-Making and Risk Management course, you will be able to:
- Analyze problems using decision-making criteria and theories
- Model different types of risk and decisions to forecast potential outcomes
- Understand the principles of risk management and apply risk-management techniques and technologies
- Utilize the characteristics of uncertainty to make educated decisions
Decision-Making and Risk Management Curriculum
Students will have the opportunity to examine concepts like corporate risk governance and enterprise risk management, assessment of risk at the corporate and capital allocation level, risk management products and structures, tools for decision-making in risk management, and regulatory risk monitoring and compliance.
You will learn to:
- Design strategies involving portfolio management, budgeting, and structure
- Explore regulatory requirements, processes, and compliance
- Introduce risk governance and management into organizational culture
- Learn about concepts and identify tools for decision-making within risk management, including derivative structures and risk analysis models
- Understand different types of risks and use financial and statistical tools for risk analysis
- Eight weeks in length
- Weekly, self-paced interactive learning modules and assignments are time-sensitive and should be completed by the set deadlines
- Synchronous sessions and live question and answer sessions
- Mentors will provide continuous support and encourage a dynamic and positive learning environment
Weekly course schedule
Review sources of risk, types of risk, and decision-making in risk management. Examine qualitative and quantitative aspects of risk management. On the qualitative side, focus on risk governance, analysis and communications, and on the quantitative side, on risk identification, measurement, and management.
Examine the principles of risk governance: the board of directors, management, policies and processes, and enterprise risk management. Focus on top-down analysis of risk decision making, the rights and responsibilities of each organizational layer of risk management, and the direction and control of the risk decision-making process.
Introduce idiosyncratic risk management, define core and noncore risk, and review the concepts of risk capital and risk interaction. Review high-level strategic and financial decision-making tools and concepts that are used in the identification of risks for a company.
Review statistical concepts relevant to risk management, such as mean, variance, and standard deviation. Introduce data analysis for risk management and discuss the concept of random variables aand probability. Get familiar with the measures of market, credit, liquidity, and operational risks.
Discover the infrastructure of risk management: tracking and monitoring risk exposures, financial and statistical tools for risk analysis, economic tools, and model risk.
Learn the concepts of risk premia and pricing; risk management strategies and structures; risk management decisions in portfolio management, capital budgeting, and capital structure; and risk assessment scorecards.
Examine the concepts related to risk monitoring, including risk exposure alignment, policies and processes, and regulatory requirements and compliance.
Complete the course by reviewing strategic risk integration as a comprehensive concept and understand how it can be used proactively.
Meet Your Instructor
Every organization strives to practice innovative risk management strategies to maximize their return on investment and minimize losses. As data security breaches surge and government regulations grow more stringent, risk management becomes even more necessary. The global risk management market was valued at USD 7.39 billion in 2019 and is projected to reach 28.87 billion by 2027, growing at a rate of 18.7% between 2020 and 2027.
Potential Risk Management job titles
- Chief Risk Officer
- Compliance Consultant
- Compliance Officer
- Environmental Compliance Specialist
- Loss Control Consultant
- Model Risk Specialist
- Regulatory Affairs Manager
- Risk Analyst
- Risk Compliance Investigator
- Risk Manager