Quantitative Asset and Risk Management

Quantitative Asset and Risk Management is a career parallel, English-language degree programme. It qualifies students for a successful career in banking and finance for both the domestic and international labour market.

The main fields of study are asset management, risk management and asset liability management for banks, insurance companies, other financial service providers and regulatory institutions.

The programme is aimed at students with high affinity to (financial) mathematics and statistics. It offers extensive know-how in the area of asset and risk management and is very convincing with its practical applications.

Students have multiple opportunities to gain international experience at one of our partner universities and also gain a double degree. Depending on personal preferences and compatibility with career and private life.

Online info sessions

Would you like to learn more about the Quantitative Asset and Risk Management degree programme and have your individual questions answered? Then register now for our online info sessions! The degree programme team will inform you about application and admission, study contents and career opportunities.

Dates:

Currently, there are no online info sessions scheduled.

International student virtual Q&A sessions

Your opportunity to ask questions around visa, housing, and living in Vienna.
No registration necessary - just click on the links below and join directly. We look forward to seeing you!

Currently, there are no online info sessions scheduled.

Qualifications

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

Career opportunities

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 2.495 MB)
Curriculum MA ARIMA Quantitative Asset and Risk Management Download icon
(pdf 45.853 KB)
Guide Master Application and Admission Download icon
(pdf 1.814 MB)
Preparation material MA Quantitative Asset and Risk Management Download icon
(pdf 1.442 MB)
Education Contract Master Download icon
(pdf 141.746 KB)
General terms and conditions security deposit Download icon
(pdf 110.69 KB)

Get to know our degree programme

Programme details

International aspects

Career opportunities

ECTS and course information

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Type of study course

Degree programme

Curriculum

Semester

ECTS Credits

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Course

ECTS Credits

Language

Curriculum

Semester

Incoming

Course Asset Class Equity

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 characterise the asset class equity and lay out the risks associated with this asset class. They can distinguish between growth and value stocks, structure the entire stock market along different risk profiles and relate them to different investment objectives. They are capable of analysing equities based on financial or economical models to validate their current price level. Additionally, they are able to implement forecasting models equities. Based on the results of these forecasting models and incorporate the results in portfolio selection. Finally, they have the ability to conduct performance and attribution analyses for equities.

More Info
Course Asset Class Foreign Exchange

ECTS Credits 1.00 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 elaborate on the characteristics of the asset class foreign exchange. They can analyse foreign exchange-rate based products with special focus on the risks of these products. Furthermore, they can construct simple forecasting models for this asset class and utilize the results of these forecasting models in a portfolio allocation and selection process. Furthermore, they have the ability to conduct performance and attribution analyses for this asset class.

More Info
Course Asset Class Interest Rate 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 will be able to quote and use stochastic calculus; they can approach and solve simple stochastic integrals and stochastic differential equations and implement Monte Carlo simulations. Students will be able to use techniques of stochastic calculus and simulations in order to a) assess the market risk attached to interest rate based assets, b) calibrate interest rate models to market data, and c) correctly price interest rate based assets.

More Info
Course Introduction to Asset Management

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 the most important tasks in asset management and identify the risks associated with them. Furthermore, they can elaborate on different asset classes and identify characteristic risks of each of these. They can differentiate between strategic and tactical asset allocation and evaluate the risk profile of a chosen strategic asset allocation. They can outline financial models supporting the tasks in asset management and are able to calculate and critically analyse key figures used for these models. Furthermore, they are able to identify problems in the course of a portfolio management process and state possibilities to overcome these.

More Info
Course Measurement of Credit Risk

ECTS Credits 4.00 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 master the various different computational approaches to estimate risk determinants for credit risk (probabilities of default, losses given default and exposures at default). They can estimate the loss distribution of credit portfolios which allows them to estimate risk measures such as the Value at Risk or the Unexpected Loss. They are also able to test the quality of already implemented risk measurement models (back-testing) and they can conduct stress tests that analyse the impact of scarce extreme events.

More Info
Course Measurement of Life Risk

ECTS Credits 3.00 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 calculate appropriate premiums and technical provisions for life-insurance products. They are able to assess how unexpected changes in future mortality rates, future investment returns and future expenses affect the premiums and provisions. Understanding mortality rates allows them to derive the distribution of the future life time of (insured) persons. They are able to develop stochastic models to estimate the loss distribution for a portfolio of insurance contracts. This understanding allows them to estimate risk measures such as the Value at Risk.

More Info
Course Measurement of Market Risk

ECTS Credits 4.00 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 master the various different computational approaches to estimate market risk measures (historical simulation, variance-covariance approach, advanced alternative simulation approaches). They are also able to test the quality of already implemented risk measurement models (back-testing) and they can conduct stress tests that analyse the impact of scarce extreme events.

More Info
Course Measurement of Non-Life Risk

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 master the various different computational approaches to estimate risk determinants for non-life risk (damage probabilities and amount of damage). They can estimate the loss distribution for non-life risks which allows them to estimate risk measures such as the Value at Risk. They are also able to test the quality of already implemented risk measurement models (back-testing) and they can conduct stress tests that analyse the impact of scarce extreme events.

More Info
Course Research Methods

ECTS Credits 1.00 ECTS Credits

Language English Language

Curriculum PT Curriculum

Semester 2 SS Semester

icoming yes

Incoming

The alumni are familiar with general approaches how to write an academic article and as a consequence can use this knowledge for the research seminar and for their master thesis. They are familiar with the rules of the UAS BFI Vienna in regards of style and content, formal aspects, quotation of references. They are able to develop awareness for the problem of plagiarism. They are able to differentiate between scientif and non-scientific references and are able to do an online literature research independently. Additionally alumni are capable to use the software "R" to analyze financial data

More Info
Course Research Seminar

ECTS Credits 3.00 ECTS Credits

Language English Language

Curriculum PT Curriculum

Semester 2 SS Semester

icoming yes

Incoming

The alumni are able to apply the theory learned in the exercise course "Research Methods" for carrying out of independent academic. They are able to define research question(s) and select the most suitable qualitative and/or quantitative research methods and justify selection accordingly to their research question. The alumni are further able to present the results in an appropriate manner and to legitimate their findings. This provides the basis and an opportunity for developing an interest in current issues, often within a research context.

More Info

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

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We thank our sponsor

We thank our partners

PRMIA accreditation for Quantitative Asset and Risk Management / PRM industry certificate

Alumni of Quantitative Asset and Risk Management will be eligible for exemption from PRM exam I and II (out of four exams): https://www.prmia.org/

Exemption PRMIA exams prerequisites and procedure (PDF, 368.98 KB)

CFA Society Austria

The master programme Quantitative Asset and Risk Management has strong ties to the CFA Society Austria and is submitting every year the best master theses to the CFA Austria Prize.

www.cfasociety.org/austria

SAS Joint Certificate

Graduates of the master’s programme in Quantitative Asset and Risk Management (ARIMA) are now awarded the SAS Joint Certificate. ARIMA is the only programme in Austria, and one of only two universities in Germany, Switzerland and Austria (German-speaking countries), offering this qualification. The condition for this was the use of SAS software in the classrooms.

SAS® Joint Certificate Program

FENION

We have a new research partner: FENION.

Fenion specializes in the delivery of high-quality fund data in all common formats. Our long-standing customers include banks, insurance companies, asset managers, as well as trusts and companies in the public sector. In the context of an Innovationsscheck, sponsored by the FFG (Forschungsförderungsgesellschaft), the study program will conduct joint research with Fenion in the field of regulatory reporting for pension funds.

https://fenion.at/

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 (+ € 22.70 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 materials please see the download section. No external courses are required.

Application period for EU/EEA-citizens

1 October until 31 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 degree in Austria or equivalent 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).

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

"ARIMA (Quantitative Risk and Asset Management) is a very intensive master`s programme, which is just the thing for number-crunchers interested in finance, mathematics and statistics. The degree programme offers comprehensive quantitative know-how in asset and risk management, winning you over with practice-oriented applications. Since the studies are quite internationally-oriented, there are numerous possibilities for a successful career in finance and insurance."
Raphael Siegert, MA, graduate