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Master of Science in Risk Management

The Master of Science in Risk Management at SUMMA University is designed to prepare professionals to understand, analyze, and explain the identification, evaluation, and management of risks within organizations. It equips students with the skills to detect, classify, and assess risks, as well as to define and implement effective risk management policies aligned with today’s technology-driven business environment.

Program Credit Hours

36 Credit hours

Estimated Completion Time

12 months
Master: Online



The Master of Science in Risk Management at SUMMA University is a 100% online program designed for leaders who must anticipate, evaluate, and manage uncertainty in complex and regulated organizational environments. The program equips students with advanced risk management frameworks and analytical tools to identify, assess, and mitigate risks in dynamic contexts. It emphasizes legal, regulatory, and compliance considerations, ensuring graduates can operate within global standards and governance expectations. Students also develop competencies in risk control and reduction strategies, innovative risk transfer and financing mechanisms, and contingency and emergency planning to respond effectively to crises and operational disruptions.

The Master of Science in Risk Management prepares professionals to integrate risk management into strategic decision-making and long-term sustainability. Graduates learn to design actionable risk strategies that protect assets and operations, evaluate traditional and alternative risk financing solutions to strengthen resilience, and lead crisis management efforts. These program learning outcomes are achieved throughout the curriculum, including a final (capstone) project in which students propose a solution to a “simulated” organizational risk scenario. Upon completion of the degree, students will have the advanced knowledge and practical skills to manage risk and support organizational performance in a rapidly changing global business environment.

  • Apply advanced risk management frameworks and analytical tools to identify, evaluate, and mitigate risks in dynamic organizational environments.
  • Assess the legal, regulatory, and compliance aspects of risk management to ensure organizational sustainability and compliance with global standards.
  • Design comprehensive risk control and reduction strategies to minimize potential impacts on organizational assets and operations.
  • Evaluate innovative risk transfer and financing solutions, including traditional and alternative mechanisms, to optimize organizational resilience.
  • Develop and implement emergency and contingency plans, emphasizing safety, security audits, and crisis response for effective risk mitigation.
  • Integrate strategic decision-making and risk management principles to enhance organizational growth in a complex and evolving global context.

The learning methodology is based on the "case method", a virtual course with interactive screens, virtual lectures, videos of the teacher, virtual review sessions and interactive exercises.

You will have weekly work planning and the personalized monitoring of an academic mentor. The teaching staff is made up of PhDs from the world of business and academia.

Risk management has become a critical function across industries due to increasing regulatory requirements, operational complexity, financial volatility, cyber threats, and the growing need for organizational resilience. The Master of Science in Risk Management prepares graduates to lead risk-informed decision-making, strengthen governance and compliance, and design strategies that protect assets and support long-term sustainability in both public and private organizations.

Some professional opportunities include:

  • Chief Risk Officer (CRO) / Corporate Risk Director
  • Enterprise Risk Manager (ERM) / Integrated Risk Management Manager
  • Compliance and Regulatory Risk Manager/Director
  • Business Continuity and Crisis Management Leader
  • Risk Transfer and Risk Financing Specialist (Insurance, Reinsurance, Alternative Instruments)
  • Strategic Corporate Risk Management Consultant
  • Senior Strategic, Financial, and Operational Risk Analyst
  • Internal Control and Risk Mitigation Manager
  • Organizational Resilience and Asset Protection Manager

  • You will master advanced risk management frameworks and analytical tools to identify, evaluate, and mitigate risks in complex and changing organizational environments.
  • You will strengthen your ability to assess legal, regulatory, and compliance requirements and apply global standards that support organizational sustainability.
  • You will learn to design comprehensive risk control and risk reduction strategies that protect assets, operations, and organizational performance.
  • You will evaluate risk transfer and risk financing solutions—including traditional and alternative mechanisms—to improve resilience and decision-making at the executive level.
  • You will develop crisis management capabilities by creating contingency and emergency plans and understanding how to respond effectively in high-pressure scenarios.
  • You will build strategic decision-making skills by integrating risk management principles into governance, planning, and long-term organizational goals.
  • You will study in a fully online format with continuous academic support, including guidance from faculty and an academic mentor.

The objective of this course is to provide a practical guide that can be applied in the formulation of a strategy in a business or company.

Contents:

  • What is strategy? – Strategic analysis
  • Strategy Formulation
  • Strategy Implementation - Balanced Scorecard

This course aims to provide knowledge focused on identifying the risks and impact they have on organizations. For effective management of these, it is necessary for the Risk Department to audit and identify the specific hazards of each area of the company, so that the risk management strategy must be intricately linked to the company's strategy and its risk culture.

Contents:

  • SWOT Analysis and BCG Matrix – Concept and types of risk. Levels of uncertainty
  • Risk management systems and standards – Basel Accords
  • Business continuity plans and their objectives

Assess the impact of legal, regulatory, and compliance requirements on risk management processes.

Contents:

  • Corporate obligations and liability
  • Regulatory framework for Risk Management
  • Compliance and Risk Management

The objective of this course is to broaden the student's vision of the different types of risks that organizations face, and to provide them with a number of tools to manage and mitigate them. In turn, it is proposed to familiarize students with the tools provided, so that they can adapt and use them according to their criteria, in the different situations that may arise.

Contents:

  • General Classification and risk identification; development of questionnaires
  • Risk identification and checklists
  • Risk inspection, risk inventories and groups of subjects.

This subject offers a detailed study of the concept of risk, its modelling and quantification. We focus on financial risk and the most commonly used measure to quantify risk, Value at Risk. It is a subject that has gained great importance in the financial industry following the crisis born in 2008 and subsequent regulatory change. In addition, we offer an insight into the organization of risk management within an organization.

Contents:

  • Risk management methodology
  • Risk management process
  • Risks and control - Risk map and risk matrix

This course provides an introduction to the ALM (Asset Liability Management) analysis and a detailed study of all the type of risks that may affect the company. In many cases, when talking about risk, agents adhere to the financial analysis and risk of it, but it is necessary to have an overview of the risks to be managed and the existing instruments for their treatment and coverage.

Contents:

  • Asset Valuation
  • Liability Valuation
  • Risk assessment methods

The objective of this course is to study the mechanisms to reduce the different types of risks and develop processes to control them in a safe environment, to minimize risk.

Contents:

  • Comprehensive safety/security and its implications.
  • Risk Reduction Methods
  • Risk Control Methods

The objective of this course is to acquire a deep understanding in the mechanisms used to retain totally or partially the risks, as well as their pros and cons in a financial environment.

Contents:

  • Fundamentals of risk retention and financing
  • Mechanisms and techniques for financial risk retention
  • Specialized risk retention structures (captive companies).

This course examines contracts, insurance policies, and traditional mechanisms for risk transfer.

Contents:

  • Fundamentals of risk transfer through insurance
  • The insurance contract: elements, policy and roles of participants
  • Traditional risk transfer products via insurance and reinsurance

This course examines alternative instruments such as derivatives, securitization, and other innovative methods of risk transfer.

Contents:

  • Fundamentals of Alternative Risk Transfer (ART) Products
  • Catastrophe bonds and catastrophe swaps; integrated risk management solutions
  • Advanced alternative transfer instruments: Sidecars, Industry Loss Warranties, contingent capital and survival covers

The objective of this subject is to know the principles of emergency plans and contingency, as well as the means to reduce the impact of the risks to which the company is exposed.

Contents:

  • Organization and management of emergencies in the company
  • Emergency plans and contingency plans for risk reduction
  • Security audits and risk inspections

The course provides students with the opportunity to apply the knowledge acquired from their professional programs of study in a comprehensive manner. Students will also assess the impact of their educational experiences on their ethical perspectives and critical thinking skills.

Contents:

  • Integrative research project in risk management and business
  • Practical application of knowledge and organizational decision-making
  • Structuring, development and formal evaluation of the end-of-program project.

Price per Credit: US $168.06
Total Price: US $6.050 / 36 credits
Registration Fee: US $100.00 (non-refundable, one-time charge)
Graduation Fee: US $110.00
Return Check Fee: US $40.00
Official Transcript: US $10.00 (each copy)
Withdrawal Processing: US $25.00
Books & Materials: US $0.00
Other costs: US $0.00

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