master programme quantitative asset and risk management

Quantitative Asset and Risk Management (English)

Practice-oriented education for the financial experts of tomorrow

In the Quantitative Asset and Risk Management (ARIMA) master’s programme you will gain knowledge and practical skills through intensive, practice-based training in the fields of financial risk management and asset management. Comprehensive insights of industry experts focussing on banking and insurance will further enhance your learning. This unique combination opens up exciting prospects for a highly successful career in the finance sector.

International experience and a professional network

Benefit from our diverse international offerings:

Graduate with a double degree.
Study at a partner university, either for a whole semester or by participating in an intensive programme for two weeks.
Exchange ideas, in Vienna and abroad, with students from all over the world.
Engage with lecturers boasting a range of professional experience in Europe and abroad.

The global network and the international skills you gain in this programme pave the way to a dynamic and mobile international career.

In recognition of our programme’s focus on internationalisation, we were awarded the Certificate for Quality in Internationalisation (CeQuInt) in 2023.

Data management and analysis skills for the future

Learn to use the most widely used programming languages and tools in the finance world, such as Python, R, SAS, SQL and Bloomberg. Mastering these technical skills is essential for modern asset and risk management, and acquiring them prepares you for the demands of the job market.

During the course of this programme, you have the opportunity of earning certificates and qualifications, such as the SAS Joint Certificate or PRMIA Exams. Such qualifications demonstrate your skills and enhance your career opportunities.

An efficient start to your studies

While our programme appeals to candidates with an affinity for mathematics and statistics, we recognise that not all students start with the same level of theoretical knowledge. Our onboarding programme supports you in preparing for the complex topics of the programme. Targeted warm-up courses and support from academic staff lay the foundations for achieving success in your studies.

As a graduate you will be able to:

Graduates are able to

describe and analyse the connections between asset and risk management in finance
quantify and assess risk types in risk management, and infer measures for integrated steering of banks and insurance companies
analyse various asset classes and their products
carry out portfolio selections, and calculate key performance and risk measures
apply financial mathematics and statistics to developing financial models
solve problems together with experts from other disciplines by applying risk management and asset management strategies and methods under consideration of ethical and social responsibilities
cooperate, as competent experts, in a globalised work environment or in international teams

Typical career fields open to you after graduation:

Asset management
Risk management
Liability management
Private banking and family office
Compliance and regulatory reporting
Consulting

You can find more information in the current brochure of the degree programme

Have a closer look:

Brochure Quantitative Asset and Risk Management

Downloads

Brochure Quantitative Asset and Risk Management Download icon
(pdf 2.504 MB)
Curriculum MA ARIMA Quantitative Asset and Risk Management Download icon
(pdf 285.632 KB)
Guide Master Application and Admission Download icon
(pdf 470.976 KB)
Education Contract Master Download icon
(pdf 142.456 KB)
General terms and conditions security deposit Download icon
(pdf 110.69 KB)

Get to know our degree programme

We thank our partners

The programme at a glance

Degree

Master of Arts in Business, MA

Length of programme

4 semesters

Mode of study

Career parallel programme: three times a week in the evening and Saturdays during the day

Place of Study

Campus Wohlmutstrasse
Wohlmutstrasse 22
1020 Vienna

Language of instruction

English

Credits

120 ECTS

Tuition fee

€ 363.36 / semester (+ student union fee)

Semester Abroad

Obligatory in the second academic year, in blocked form (e.g. two weeks) at one of our partner universities. The degree programme recommends completing a semester abroad in the 3rd semester or 4th semester.

Admission procedure

Written application
Online MC test
Structured interview

Preparation for admission procedure

For preparation, we recommend our preparatory script. You can also find more information in our "Master Application and Admission Guide" under the info materials. No external courses are required.

Application period for EU/EEA-citizens

1 October until 15 May

Application period for non-EU/EEA-citizens

1 October until 30 April

Admission requirements

Secondary school leaving-certificate (High school Diploma) and
Completion of a social studies/business/natural science/ law/ technical bachelor degree in Austria or equivalent bachelor degree abroad (The legalization list can be found here.)

with documented qualifications in

Economic sciences (at least 9 ECTS) and
Mathematics or statistics (at least 6 ECTS).

For this degree programmes you require English CEFR-competence level C1. German language competence is not necessary for this programme.

Bridging courses

Take advantage of the free bridging courses offered by the UAS BFI Vienna (May to July) to acquire missing ECTS and qualify for admission to a master programme.

Level of qualification according to the National Qualification Framework and the European Qualifications Framework

NQR 7

Field(s) of study (e.g. ISCED-F)

0412 finance, banking and insurance

Access to further studies

Graduates of UAS master programmes are entitled to enroll in relevant doctoral programmes (pursuant to § 6 para. 4 FHG, as amended) or university courses.

Veronika Hallwirth

Coordination of the study programme

+43 1 720 12 86-931

veronika.hallwirth@fh-vie.ac.at

ECTS and course information

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Type of study course

Degree programme

Curriculum

Semester

ECTS Credits

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ECTS Credits

Language

Curriculum

Semester

Incoming

Course Equity and Foreign Exchange Derivatives

ECTS Credits 2.00 ECTS Credits

Language English Language

Curriculum PT Curriculum

Semester 1 WS Semester

icoming yes

Incoming

After accomplishment of the course students are able to categorize and describe different types of derivatives (forwards, futures and options) and apply different mathematical models to calculate prices for them. They can explain the binomial model and its extension in continuous time to the Black-Sholes model. Furthermore, they are able to demonstrate critical thinking and analytical problem-solving skills to reflect on the viability of the models in real world markets and to integrate derivatives into an investment approach, e.g. for hedging purposes.

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Course Fixed Income and Credit Derivatives

ECTS Credits 4.00 ECTS Credits

Language English Language

Curriculum PT Curriculum

Semester 1 WS Semester

icoming yes

Incoming

Successful students are able to define various fixed income and credit derivatives, comment on their possible usage in asset and risk management and determine prices for them by applying different pricing models. They can paraphrase the no-arbitrage principle and relate it to pricing derivatives. Additionally, they are able to debate the validity of pricing models in real world markets and use simulations and stress testing to critically analyse possible shortcomings of the models.

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Course Fundamentals of Economics

ECTS Credits 3.00 ECTS Credits

Language English Language

Curriculum PT Curriculum

Semester 1 WS Semester

icoming yes

Incoming

After the successful completion of the course student are able to list the most important financial institutions and illustrate their tasks. They can examine market phenomena and categorize and interpret them in the short and in the long-term perspective. Additionally, students can outline different economic models and articulate mayor implications.

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Course Fundamentals of Finance

ECTS Credits 5.00 ECTS Credits

Language English Language

Curriculum PT Curriculum

Semester 1 WS Semester

icoming yes

Incoming

After the successful completion of the course students are able to categorize the most important financial products, outline mayor characteristics and list important financial markets. They can apply the models of basic portfolio theory for determining optimal portfolios and comment on advantages and disadvantages of these models. Furthermore, the students can calculate various key figures for stocks, bonds and derivatives and interpret them and assess risk and return characteristics of various financial products.

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Course Fundamentals of Mathematics and Statistics

ECTS Credits 4.00 ECTS Credits

Language English Language

Curriculum PT Curriculum

Semester 1 WS Semester

icoming yes

Incoming

After the successful completion of the course students are able to understand and apply basic models and concepts in asset management and risk management and have a wide range of skills including, for example: the computation and modelling of asset returns and other relevant variables in asset and risk management as well as the computation and interpretation of their important statistical measures. Further, they are prepared to understand more advanced mathematical concepts employed in financial models that are taught at a later stage of the curriculum (courses "Multivariate Methods" and "Time Series Analysis").

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Course Multivariate Methods

ECTS Credits 5.00 ECTS Credits

Language English Language

Curriculum PT Curriculum

Semester 1 WS Semester

icoming yes

Incoming

After the successful completion of the course, students are able to decide on appropriate statistical techniques (e.g. regression and classification models) and they can apply and interpret them: they can calibrate, interpret and analyse models’ parameter estimates and goodness-of-fit measures in detail and they can hence judge the accuracy of these models. They can apply the calibrated models to estimate the value of dependent variables (regressand) on the basis of the values of explanatory variables (regressors). As the statistical concepts are always taught on the basis of practical examples, the students know in which areas of asset and risk management these advanced multivariate models are used: return distributions and risks of portfolios of assets, models to estimate the default probability of obligors etc.

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Course Programming and Databases

ECTS Credits 4.00 ECTS Credits

Language English Language

Curriculum PT Curriculum

Semester 1 WS Semester

icoming yes

Incoming

After the successful completion of the course students are able to apply advanced features of Microsoft-Excel to analyse data efficiently. In addition, they demonstrate basic programming knowledge (definition of variables, assignment of values to variables, if-statements, for- and while-loops, logical operators, functions, variable scope, arrays, objects, collections, error handling and documentation techniques) in Visual Basic for Applications (VBA) which enables them to develop their own computer functions and programs. Furthermore, they are able to use Structure Query Language (SQL) elements for storing, manipulating and retrieving data in databases. Additionally, the students are able to operate statistical software other than MS-Excel (e.g. R, SPSS, SAS or Minitab) which is advantageous when dealing with large data-sets or complex algorithms.

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Course Time Series Analysis

ECTS Credits 3.00 ECTS Credits

Language English Language

Curriculum PT Curriculum

Semester 1 WS Semester

icoming yes

Incoming

After the successful completion of the course, students are familiar with basic time series models, i.e. they can list and recognise the models, can write down the models and describe their basic properties. In addition, they are able to analyse, model and simulate financial time series data (at a basic level) using computer programs such as EViews. Students can explain in which areas of asset and risk management time series models are used.

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Course Alternative Investments

ECTS Credits 2.00 ECTS Credits

Language English Language

Curriculum PT Curriculum

Semester 2 SS Semester

icoming yes

Incoming

After the successful completion of the course, students are able to systemize the wide range of products in the asset class alternative investments. They can elaborate on different products of the asset class such as real estate and hedge funds alongside their risk profile and discuss different investment approaches. Furthermore, they can describe the characteristics of real estate markets, distinguish between different investment approaches (style and vehicle), reflect on the risks of these investments and perform real estate valuation based on various models. Additionally, they have the ability to conduct performance and attribution analyses for this asset class and are able to use alternative investment products in a portfolio management process to optimize portfolio selection.

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Course Asset Class Credit Products

ECTS Credits 2.00 ECTS Credits

Language English Language

Curriculum PT Curriculum

Semester 2 SS Semester

icoming yes

Incoming

After the successful completion of the course, students are able to characterize products of the asset class credit. They are capable of differentiating between different financial products within the asset class and identify their associated risks. Additionally, they are able to construct forecasting models for this asset class and utilize the results for portfolio allocation and selection. Furthermore, they have the ability to conduct performance and attribution analyses for this asset class.

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Legend: FT = Full Time, PT = Part Time, SS = Summer Semester, WS = Winter Semester

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"As part of the programme, students are familiarised with the different types of risks to which financial familiarised with the different types of risks to which financial institutions are exposed and learn to identify, assess and manage them. This is of central importance, as the complexity of global financial markets is increasing due to new innovations such as AI or blockchain and continuously increasing regulation is constantly increasing. Overall, the degree programme offers a comprehensive education that covers both the quantitative and qualitative aspects of finance and optimally prepares students for a career. optimally prepares students for a career in the the capital markets."

Alexander Fischer, MA, MSc, graduate