2020

1 ROTMAN MFRM
 Turn risk
into reward

"Risk management expertise is a

critical skill required by all financial
institutions. This specialization has
never been in greater demand."
Sonia Baxendale, President and CEO, Global Risk Institute in Financial Services

1
Over the past decade, changes across the global financial system
have created a growing demand for professionals who can
define, assess and manage risk. The Rotman Master of Financial
# Risk Management (MFRM) is a focused degree designed for
quantitatively-strong students eager to hone their skills for the
technology-driven, innovation-focused economy.
University
in Canada The Rotman School is the place to accelerate your career in
— Times Higher Education financial services and risk management. The School is located on
World University Rankings, 2019
the downtown campus of the University of Toronto, just blocks
from Canada’s financial and commercial centre.

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Our faculty includes both prominent academics and industry
executives who are advancing the frontiers of management
thinking. The MFRM benefits from the guidance of a high-powered
advisory board consisting of top professionals in the field. For our
Top students, this translates into cutting-edge knowledge combined
with extraordinary networking opportunities and access to top
Universities global recruiters.
in the World
A bridge between your academic and professional life, the MFRM
— Times Higher Education
World University Rankings, 2019 program teaches you how to apply theoretical knowledge to
different financial situations in a range of business settings. This
is combined with an industry placement that allows you to work
on a business problem in real time, as well as speaker series,
career workshops and company information sessions. This highly
experiential program will give you the theoretical and practical
skills you need in just 10 months.

At the intersection of risk management and finance, the Rotman

MFRM provides an ideal balance of technical expertise and
communication skills that will help launch your career.

Turn risk into reward, and accelerate your career with the MFRM.

Tiff Macklem
Dean, Rotman School of Management

2 ROTMAN MFRM 1
Why choose the BMO Financial Group
Finance Research and Trading Lab

Master of Financial Research in real time. This state-of-the-art facility

allows you to hone your skills as an analyst by

Risk Management giving you live access to information on the

global markets. Equipped with 71 dual flat panel
stations, the Lab offers a growing stack of custom
designed applications for simulation-based
research and learning.
Located in the heart of the country’s
financial centre, Rotman offers you wide- Risk Management Project
ranging opportunities to hone your This project allows you to tackle real risk issues
that are relevant and of interest to financial
expertise in finance and risk management. institutions. Over a nine-week period, your
learning will shift from the classroom to industry
as you work with practicing risk management
professionals. At the end of the project you will
present your findings to your fellow students,
faculty and industry sponsors.

Rotman International Trading Competition

Gain a competitive edge. Held each year at the
BMO Financial Group Finance Research and
Trading Lab, this three-day tournament is the
largest of its kind, bringing together more than
50 teams from universities around the world.

Case Competitions
Showcase your talent to top industry experts and
impress potential employers. Each year, many
Rotman students travel to case competitions
around the world, applying their skills and
knowledge to real-world situations.

Events and Industry Guest Speakers

Meet the top experts in the field. Hosted in
Toronto: Centre of the Action partnership with the Global Risk Institute (GRI),
The Rotman School is located in downtown senior professionals from banks, regulatory
Toronto, just blocks from the second largest bodies, pension funds and other financial
financial centre in North America. The School organizations join MFRM students for speaker
takes full advantage of its strategic location by events throughout the program.
drawing on a rich pool of business and industry
leaders as teachers, mentors and speakers.
Rotman FinHub
Explore the latest in financial innovation. FinHub
University of Toronto
provides an environment where students,
Enjoy a full-campus experience at the historic
the financial industry, start-up entrepreneurs
St. George campus of the University of Toronto.
and faculty meet to share their knowledge of
Established in 1827, U of T is a global centre
technological and financial advances in the
of research and academic excellence, and is
industry.
recognized widely as Canada’s top university —
a reputation that adds tremendous value to your
Rotman MFRM degree.
TD Management Data and
Analytics Lab
The lab promotes cutting-edge analytic tools in
business through teaching and research, and
is a central source of knowledge and expertise
“The opportunities to engage with the
in data science, AI, and machine learning
Rotman alumni network, the information
applications.
sessions and networking events perfectly
position you to succeed in the industry.”
Anna Dai, mfrm '19

2 ROTMAN MFRM 3
Fast track into
risk management
Develop the strengths that a rapidly-
changing economy demands in this
intensive, 10-month full-time program.
The MFRM attracts students with strong
communication skills and the ability to
translate theory into business practice.
“The industry project goes
beyond any internship experience
by allowing you to tackle a project
from the ground up.”
Anna Dai, mfrm ‘19
Senior Consultant, EY
Previous education:
Bachelor of Mathematics, University of Waterloo
4 ROTMAN MFRM
“Your classmates are the future
leaders of the financial services
industry.”
Djordje Calic, mfrm ‘19
Analyst, Financial Trading,
TransCanada
Previous education:
Bachelor of Business Administration (Honours),
Financial Analysis, Mount Royal University
"MFRM means really hard
work and great quality
teaching, providing you
with the necessary skills,
both social and intellectual,
to succeed in the financial
world.“
Carmen Quiroz, mfrm ‘17
Senior Manager, Credit Risk Modelling -
IFRS9, Scotiabank
Previous education:
Bachelor in Actuarial Sciences,
Universidad de las Américas Puebla
"The highlight of my experience was the “It is only as a graduate that you truly
opportunity to learn from some of the appreciate how broad the Rotman
industry’s most distinguished professionals. network is and how incredibly
This greatly helped me to think critically useful it is when networking.”
about the problems in industry and apply
the tools to solve them."
Joanna Leung, mfrm ‘18
Business Analyst,
Ontario Securities Commission
Bryan Djerroud, mfrm ‘19
Previous education:
Analyst, Group Risk Management Rotational Program,
BSc in Financial Economics, University of Toronto
RBC Capital Markets (New York)
Previous education:
HBSc, Mathematics and Statistics, University of Toronto
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Learn from
the best
Rotman faculty are renowned for their
thought leadership. Their groundbreaking
insights travel from our classrooms and
research centres to the boardrooms of
organizations that are shaping the future.
Heather-Anne Irwin
Academic Director,
Master of Financial Risk
Management
Adjunct Professor of Finance
Capital markets veteran
with expertise in investment
banking, new issue equity and
fixed income.
Founding President of
Women in Capital Markets.
MBA, York University
BASc Engineering,
Queens University
"The Rotman School is deeply
engaged with the local business
community. Located just blocks
from Bay Street, Rotman is a
major source of talent to the
finance industry. The strength of
the Rotman brand and the
School’s close ties to the industry
position our graduates for
lifelong career success.”
John Hull
Co-Director, Master of Financial
Risk Management
Maple Financial Group Chair in
Derivatives and Risk Management
Professor of Finance
Research has an applied focus and is
concerned with risk management, bank
regulation and valuation of derivatives.
PhD, Cranfield University

Susan Christoffersen
Vice-Dean, Undergraduate
and Specialized Programs
Professor of Finance
Research focuses on mutual
funds and the role of financial
institutions in capital markets.
PhD, Wharton, University
of Pennsylvania
Peter Dungan
Adjunct Associate Professor
of Economic Analysis and
Policy
Research focuses on
computer simulation
models of the Canadian and
Ontario economies, and
the use of these models for
economic policy analysis and
forecasting.
PhD, Princeton
Redouane Elkamhi
Associate Professor of Finance
Research focuses on
theoretical and empirical
asset pricing with special
interests in credit and option
markets.
PhD, McGill University
Bing Han
Professor of Finance
Research focuses on
behavioural finance,
investments and asset
pricing.
PhD, University of Chicago
and UCLA
Raymond Kan
Professor of Finance
National Bank Financial
Professor in Capital Markets
Research interests include
empirical asset pricing,
portfolio management, and
computational statistics.
PhD, University of Chicago
Tom McCurdy
Professor of Finance
Bonham Chair in International
Finance
Co-developer of the RIT
market simulator
Research focuses on risk
management, quantitative
and computational finance.
PhD, University of London
(LSE)
Tony Peccia
Executive in Residence
Managing Director and Chief
Risk Officer for Citibank
Canada
Responsible for managing
credit, market liquidity,
operational and pension
fund risk, and implementing
all related regulatory
requirements.
MBA and Master of Science,
McGill University
Kevin Q. Wang
Associate Professor of Finance
Research interests include
asset pricing, stock market
anomalies, evaluation of
portfolio performance,
and empirical methods in
investments.
PhD, University of Chicago

6 ROTMAN MFRM 7
Real-world Industry Student profile
results connections Class of 2019

Our program is designed to prepare The MFRM is an intensive full-time program

ambitious young professionals for careers that prepares you for in-demand careers in risk

94%
in risk management and finance. All courses management and trading. The strength of the
MFRM Advisory Board
are developed in consultation with industry The advisory board seeks to raise the profile of the
MFRM students Rotman brand and the School’s close ties to
(Classes of 2017 and 2018)
practitioners. program and facilitate networking and employment secured employment industry position you for lifelong success.
opportunities for students. The board consists of within 6 months of
professionals from the finance industry, many holding graduation.
senior roles in the field of risk. The board also ensures
that the program meets the needs of the sector so our
The MFRM is a 10-month, full-time comprehensive program in which each course students are suitably skilled upon graduation.
has been carefully selected and designed to make the most of your growth as
a risk management professional (with no optional or elective courses). Students
develop a strong community with their classmates as they progress through the
program together.

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In addition to the courses below, students take additional workshops and
sessions led by experts from the TD Management Data and Analytics Lab and
FinHub on new and technical areas. Previous sessions have included Python and
Average Age 3%
R programming languages.
range 20 - 28 Engineering

18%

58%
Economics

Female

Academic
Background

42%
Fall Risk Management Spring
Academic Session Project Academic Session
September to December January to mid-March Mid-March to end-June
Male
Career Services
In a competitive job market, it takes focus, drive and
Courses include: The applied Risk Management Project Courses include: leadership to take your career to the next level. We’ll equip
24%
Math, Statistics
kkFinancial Markets, Risk and Institutions brings students out of the classroom kkTopics in Financial Risk you with the skills and strategies you need to succeed and Computer

37
kkRegulation of Financial Institutions and allows them to put their knowledge kkCredit Risk through a suite of services designed for professionals in the Science
kkOperational Risk into practice. Over nine weeks, you kkProbabilistic Modelling for Risk- field of risk and the broader finance industry.
kkAdvanced Investments will work with risk management Informed Decisions Average 55%
NEW: Innovations in professionals on a real-world issue Macroeconomics for Financial Risk Our dedicated career services team will help you build a
kk kk
Undergrad GPA Business, Commerce
Financial Technology
Covering topics such as machine
provided by industry sponsors and
members of the MFRM Advisory Board. kk
Management Professionals
Derivative Models for Risk
career management plan to achieve your professional goals
through:
. range 3.0 - 4.0
learning and blockchain. At the end of the project, you will Management
complete a formal presentation to a Exclusive MFRM networking events throughout the year
kk
panel of faculty and sponsors. Convocation (November) Industry-specific speaker events
kk

714 47%
“Try to expand your network as One-on-one coaching
kk
Please note: Course order and timing for each academic session subject to change. 24/7 online resources
kk
much as possible during the industry of the class is working
Professional skills workshops designed to set you up for
kk
project. It is the chance for you to get success
Average GMAT* towards a professional
Self-Development Lab
exposure to the real workplace and Technical interview and case interview preparation
kk designation such as
Sessions in small groups will help to develop your communication, interactive and CFA or FRM
interpersonal skills. The feedback-based learning style will help you express yourself
interact with industry professionals” Mock interviews with industry professionals
kk
Anna Dai, mfrm ‘19
effectively, understand your own motivations and those of others, and achieve your
goals in complex, high-stakes environments.

*GMAT not required for entry to program.

8 ROTMAN MFRM 9 10
Admission
and next steps

Application Deadlines
What we look for
First round application
deadline:
November 20, 2019

Second round application

Academic Strong People Interest deadline:
Achievement Quantitative Skills in Risk February 5, 2020
Skills Management
Tip: The earlier you apply, the
greater your chance for an
entrance award.
Admission criteria

R
RUndergraduate degree: R
RPrerequisite courses*: Next steps
Minimum B average across courses Foundations of Finance, Financial
in the final year. Most students Accounting, Investments, Financial Even if you aren’t yet ready to
admitted will have a higher GPA. Derivatives apply, create an online profile
with us so you can stay informed
R
RQuantitative proficiency: R
RTwo academic references and easily register for our
Evidence of a high level of upcoming admissions events.
R
ROnline application
proficiency in quantitative subjects
such as calculus, linear algebra, R
RInterviews by invitation only Create your profile at:
statistics and econometrics. getstarted.rotman.utoronto.ca

*If you have not completed courses in these areas as part of your undergraduate degree,
you can obtain conditional acceptance to the program by completing our pre-qualifying Meet our team
exams. Visit our website for further details.
To meet one-on-one with
our admissions team or if you
have questions, we invite you to
Tuition fees
contact us:
Fees applicable to students entering the program in 2019:
Email:
MFRM@rotman.utoronto.ca
Domestic International
students students Web:
www.rotman.utoronto.ca/MFRM
$39,850 $63,430

Please note that all fees are set annually and are subject to change.
Costs do not include university incidental fees or compulsory ancillary fees.

Financing
Students may apply to participating banks for an interest-subsidized
professional student loan. Rotman also provides interest subsidies on
other eligible student loans. Visit our website for details. Applicants are
automatically considered for competitive entrance awards, given to
candidates who meet specific criteria outlined online. These awards are:

GRI Entrance Awards Scotiabank Latin American

Merit awards between $2,500 to Scholarship Rotman School of Management
$15,000, with one $10,000 GRI Up to three awards of $25,000. University of Toronto
Women in Risk Management 105 St. George Street
Entrance Award. Toronto, ON, Canada M5S 3E6

Peter Christoffersen Scholarship

One merit award of $4,000.
www.rotman.utoronto.ca

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