Program Overview

Master of Science in Enterprise Risk Management

The Master of Science in Enterprise Risk Management (ERM) at Columbia University prepares graduates to inform better risk-reward decisions by providing a complete, robust, and integrated picture of both upside and downside volatility across an entire enterprise.

Program Overview

The program is available in-person on Columbia’s campus or online via Columbia’s interactive social learning platform. The full-time program takes three terms to complete, and fall or spring entry is possible.

Program Features

• A faculty of globally recognized ERM leaders who mentor students and provide academic, professional, and career guidance.
• A focus on all aspects of ERM, including frameworks, governance, identification, quantification, risk-reward decision-making, and messaging.
• Practical ERM tools and techniques that have been implemented and proven in industry settings.
• Flexible course options that allow students to explore topics that matter most to them.
• Comprehensive understanding of key risk sources, including strategic (e.g., competitor risk), operational (e.g., HR), financial (e.g., market risk), and insurance (e.g., pricing risk).
• Access to Columbia’s Ivy League resources, career guidance, global alumni network, and location in New York City.

Learning Outcomes

In this Master’s program, students will learn to:

• Apply a value-based ERM approach to help organizations make better risk-reward decisions at the highest levels.
• Quantify all types of risk, including strategic, operational, financial, and insurance.
• Develop a clear definition of risk appetite (the aggregate enterprise-level risk limit).
• Design and implement customized ERM frameworks and risk governance structures for any type of organization.
• Enhance the strategic planning process, increasing the likelihood of an organization achieving its goals.
• Understand and satisfy ERM requirements from rating agencies, regulators, and shareholders.
• Balance technical ERM skills with effective communication skills to gain buy-in from key internal and external stakeholders.

Alumni Employers

ERM graduates work in key positions for a wide range of organizations, including:

• AIG
• American Express
• Barclays Investment Bank
• China International Capital Corporation
• CLSA Hong Kong
• Deloitte
• Deposit Trust Clearing Corporation
• Ernst & Young
• Fosun Group
• Ingenus Pharmaceutical
• JP Morgan Chase
• KPMG
• Morgan Stanley
• Penn Mutual Life Insurance
• Pingan Securities
• PwC
• Schroders Investment Management
• Societe Generale
• United Nations

Study Options

The program is available in-person on Columbia’s campus or online via Columbia’s interactive social learning platform. Both options feature rigorous coursework, world-class instruction by Columbia faculty, career and professional development resources, and personalized feedback on assignments.

Who Should Apply

• Individuals who plan to pursue or advance a career in enterprise risk management.
• Individuals who want to expand their abilities in specialized risk management areas such as auditing, information technology, compliance, and management of insurable risks.

Related Programs

• Master's Degrees in Applied Analytics
  • Program Options: Online, On Campus; Full-time, Part-time

Certification of Professional Achievement in ERM

Ideal for individuals who plan to pursue a career in enterprise risk management or who want to expand their expertise in specialized risk management areas.

Individual Courses

Ideal for those who want to become more effective in targeted aspects of a current ERM role, specialize in risk management fields, or pursue an actuarial role with focused ERM knowledge.