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What will I learn?

Columbia University’s Master of Science in Enterprise Risk Management prepares risk professionals to design and implement ERM programs that enhance all decision-making processes, ranging from strategic decisions to traditional mitigation decisions. It also provides a robust toolkit of advanced risk management capabilities and competencies that can be applied to enhance value at both the enterprise level and at the traditional silo risk management level. Multiple courses on business communication and interaction provide the skills required to gain the stakeholder buy-in critical for successful adoption of ERM techniques. The core coursework provides insights on how to utilize these ERM and risk management tools and techniques across a variety of formalized risk management frameworks commonly in use.

Study consists of nine required courses (27 points) and three elective courses (9 points). For the Capstone course, you will assess a case study of an organization’s ERM program and recommend/implement enhancements, demonstrating the application of all the major skills and techniques learned; the case study will be based on actual ERM programs in the marketplace. Based on your professional interests and goals, and in consultation with the program director, you will customize your study through selection of Risk Category Courses and electives.


All courses are three points.

Core ERM Courses

All seven courses are required.

  • Value-Based Enterprise Risk Management
  • Traditional Risk and ERM Practices
  • External Stakeholder Requirements
  • Introduction to Finance
  • Managing Human Behavior in the Organization
  • Strategic Communications for Risk Professionals
  • Capstone

Non-native English speakers may be required to complete a one-credit oral communication course during their first semester, raising the point total for degree completion to 37 points.

Risk Category Courses

Choose two.

  • Strategic Risk Management
  • Operational Risk Management
  • Financial Risk Management
  • Insurance Risk Management


Choose three. Risk Category Courses (beyond the two required courses) may also serve as electives. You may choose a maximum of two Business Electives.

ERM Electives

  • Intro to Quantitative Risk Management
  • Company Failures
  • Systemic Risk
  • ERM Modeling
  • Information Technology Risk Management
  • Enterprise Information Security: Threats & Defense
  • Bayesian Data Analysis
  • ERM Internship

Business Electives

  • Financial Accounting
  • Organizational Strategy and Learning
  • Data Visualization & Design

Which department am I in?

Columbia University School of Professional Studies

Study options

Full Time (36 credit hours)

Tuition fees
USD $2,182 per point
Start date

Expected September 2022


Columbia University

116th Street, 2960 Broadway,

New York,

10027, United States

Online/Distance (36 credit hours)

Tuition fees
USD $2,182 per point
Start date

Expected September 2022

Entry requirements

For students from United States

Other English Language Requirements:  The minimum TOEFL score expected is 600 (written) or 250 (computer version).

For international students

Applicants must have Bachelor’s degree or its equivalent.

English Language Requirement

Applicant must have minimum score of 600 (paper-based test) or 100 (Internet-based test) and minimum IELTS score of 7.0

*There may be different IELTS requirements depending on your chosen course.


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