Curriculum Overview
Risk Analytics Stream
Course List of RMSC
Tips on Course Selection
Our curriculum places special emphasis on the analytical and critical aspects of risk management. The core courses in the curriculum cover fundamental theories and pragmatic knowledge from a wide range of subjects in mathematics, statistics, finance, accounting, decision science and managerial economics. Our elective courses enable students to explore the advanced aspects of risk management, including stochastic calculus, statistical modelling and simulation methods for financial applications.
With the rise of big data, practices in the risk management industry have been revolutionised by instantaneous access to voluminous information. Advanced knowledge of data science and data analytics subjects such as statistical learning and data mining is increasingly important. In response to demand for talents in both risk management and data analytics, the Risk Analytics Stream is offered to elite students in the programme.

The stream places special emphasis on statistical science and computer science, including but not limited to subjects such as statistical inference, actuarial science and financial mathematics. Learning is augmented by various enrichment activities, such as mentorship, practicum in banks and start-up companies, and summer research. Upon graduation, students are well-equipped to become professional risk managers with a strong background in data science and data analytics. Job referral services on internships and graduate jobs and opportunities for further studies will be provided to students of the stream.

Students who have obtained a total score of 30 or above in their best five DSE subjects or a cumulative GPA of 3.7 or above in their first or second year of attendance may apply for specialisation in the Risk Analytics Stream.
Elementary Concepts in Risk Management
This is an elementary course that introduces current issues and special topics in risk management. Students are required to present and discuss books and current articles in the related topics assigned by the instructor. Advisory: For majors only.
Simulation & Programming
Introduction to Risk Management
This course aims at providing a focused introduction to various concepts of risk and risk measures from a scientific perspective. The course will discuss the various roles that risk plays in insurance and financial applications. Current risk measures such as value at risk and shortfall risk will be introduced. These measures will be calculated for recent financial losses to illustrate their usefulness in risk management.
Risk Measures
Derivative Pricing
Introductory Topics in Risk Management
This is an intermediate course aiming at introducing current issues and special topics in risk management. Students are required to read books and articles in the related topics assigned by the instructor. Advisory: For majors only.
Career Planning
Principles of Credit Risk Management
This course introduces the general methodology for credit risk management – how should we handle the possibility our counterparty may not pay us what they owe? Answering this question depends on who the counterparty is and the nature of our contract with them. As such, in this course we explore credit risk models for retail customers, credit risk measures for portfolios, credit mitigation techniques for markets, credit derivatives used by traders and much else besides, all in the context of the latest Basel regulations and the lessons learned from Credit Crisis of 2007-8.
Derivative Pricing
Statistical Learning
Credit Risk
Load More
Some useful CSCI courses
  • CSCI2520 Data Structures and Applications
  • CSCI3170 Introduction to Database Systems (SQL)


Some useful MATH courses
  • MATH2020 Advanced Calculus II
  • MATH2040 Linear Algebra II
  • MATH2050 Mathematical Analysis I


Courses that are helpful for/equivalent to public exams
  • RMSC4004 Theory of Risk and Insurance (Actuarial/Insurance)
  • STAT4003 Statistical Inference (SOA)
  • STAT4004 Actuarial Science (Actuarial/Insurance)
  • FINA4110 Options and Futures (FRM)
  • RMSC4002 Financial Data Analytics with Machine Learning (FRM)
  • RMSC4006 Operational Risk Management (FRM)
  • STAT4002 Multivariate Techniques with Business Applications (FRM)

(Note: VEE Mathematical Statistics of SOA can be exempted by taking STAT 4003.)


Courses that are related to more advanced RMSC topics
  • RMSC4005 Stochastic Calculus for Finance and Risk
  • RMSC4006 Operational Risk Management
  • RMSC4007 Risk Management with Derivatives Concepts

*RMSC4005 and RMSC4006 will be offered in alternate years.