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RMI 8050 Risk Management Modeling
Credit Hours 3.0
Prerequisites None
Description

This spreadsheet-based course surveys the principles of probability theory and mathematical finance for solving a diverse set of risk management problems related to the valu- ation and measurement of operational and financial risk exposures of the firm. The course is designed for all stu- dents interested in risk management and its application in finance, accounting, strategic management and economics.

RMI 8120 Property and Liability Insurance
Credit Hours 3.0
Prerequisites None
Description

This course introduces the fundamental principles of proper- ty and liability insurance and a framework for designing and analyzing insurance contracts. The course examines property and liability loss exposures and their management, with primary emphasis on insurance.

RMI 8150 Corporate Risk Management
Credit Hours 3.0
Prerequisites MBA 8135
Description

Business organizations are exposed to loss-causing events that may have significant impact on their financial position. This course explores the analysis, control and financing of property, liability and human resource loss exposures. Risk analysis includes loss-forecasting studies using microcomputer spreadsheets. Risk control focuses on principles of loss causation and mitigation and techniques for implementing risk control strategies. Risk financing alternatives include both funded and unfunded approaches. Traditional insurance, loss-sensitive insurance, cash-flow plans, self-insurance, captives, pooling, and financial risk management arrangements are examined. Case studies synthesize the risk management concepts covered in the course.

RMI 8300 Predictive Risk Modeling
Credit Hours 3.0
Prerequisites MSA 8190
Description

This course is an applied modeling course which introduces students to statistical learning and predictive analytics. It covers following topics; General Strategies (data pre-processing, over fitting-model tuning), Regression Models (linear regression, partial least squares, penalized models, non-linear models, neural networks, multivariate adaptive regression splines, support vector machines, k-nearest neighbor), Regression Trees (random forest, boosting), Re-sampling Method, Principal Component Analysis and generalized Additive Models. Students will use R and/or SAS for class projects.

RMI 8370 Financial Risk Management
Credit Hours 3.0
Prerequisites MBA 8135
Description

The course presents the fundamentals of corporate financial risk management. The objective is a realistic and conceptually motivated overview of risk management for major global companies. The strategic approach to risk management requires an understanding of insurance and alternative risk financing, as well as financial, insurance and commodity derivatives.

RMI 8389 Directed Readings in Risk Management and Insurance
Credit Hours 1.0 - 3.0
Prerequisites Consent of a graduate adviser in Department of Risk Management and Insurance, good academic standing
Description
RMI 8400 InsurTech: New Technologies in Insurance Markets
Credit Hours 3.0
Prerequisites None
Description

This course exposes students to the role of new technology in changing the pricing, process, and products in insurance markets, sometimes referred to as InsurTech. More specifically, it will cover topics such as the use in insurance markets of blockchain technology, telematics, big data, virtual claims, visual analytics, digital underwriting, drone inspections, geospatial analytics, workplace wearables/trackers, and robotic process automation.

RMI 8450 Machine Learning in Actuarial Science and Risk Management
Credit Hours 3.0
Prerequisites MSA 8150 or ECON 8740 or permission of instructor
Description

This course explores how machine learning changes the practice of actuarial science and risk management. The course presents the modeling, measuring and managing of different risks faced by financial institutions such as banks and insurance firms, using statistical and stochastic methods. Advanced machine learning techniques will be used to integrate different risk disciplines: market risk, credit risk, operational risk, asset and liability
management and performance measurement. Students also study the specific risk management and regulatory challenges faced by InsurTech and FinTech firms.

RMI 9080 Actuarial Analytics
Credit Hours 3.0
Prerequisites None
Description

The course presents advanced computational and statistical techniques in analyzing actuarial and financial data and
uses the statistical R software to demonstrate how to apply these techniques to solve practical problems in risk management such as risk estimation, backtest, capital allocation, fund management, etc. Statistical methodologies include linear predictive model with AR-GARCH errors and persistent predicting variables, generalized linear model, copula model, extreme value theory, quantile regression, bootstrap method, and statistical learning.

RMI 9100 Theory of Risk and Insurance
Credit Hours 3.0
Prerequisites Consent of a graduate adviser in the Department of Risk Management and Insurance
Description

This course is a study of the generalized concept of risk and the alternative methods of risk accommodation from the viewpoint of the individual and businessperson. Special consideration is given to the theory of insurance and its proper utilization relative to risk.

RMI 9250 Reading Seminar in Risk and Insurance
Credit Hours 3.0
Prerequisites Consent of a graduate adviser in the Department of Risk Management and Insurance
Description