A 4-month fast-track for your career in Financial Regulation and Risk Management, our graduate diploma is unique in Canada. Top up your Masters in Financial Economics (MA or MFE) with seminars from leading industry experts who will help you take the theories in macroeconomics, policy and systemic risk to real world strategies for the banking, financial or public sectors.
"This new graduate diploma will create prospective candidates with specialized skill sets organizations such as the Canada Deposit Insurance Corporation (CDIC) seek – and I cannot stress enough the importance of the skills this program would offer. In fields of specific expertise, as those in which CDIC operates, human resources departments are regularly faced with the challenge of finding qualified individuals for these hard-to-fill positions. Further, certain CDIC employees that have the relevant academic background would benefit from such a graduate program
s targeted to their field of work.” – Michèle Bourque, President and CEO of CDIC.
Given the failures in risk management and regulation that emerged in many countries during the global financial crisis of 2008, this program seeks to provide risk managers and financial regulators with the capacity to identify and manage risks to deliver the best possible outcomes for their organizations.
Risk management is a growing area for financial institutions, governments and regulators. All of these employers are looking to add to the strength and depth of their talent pool in risk management, and this program offers a great mix of the practical and theoretical to give you a boost.
RPRD 801 Risk Management Theory and Applications
This course provides a critical review of standard risk management models and procedures in private banks and other financial institutions. It will explore current research that aims to improve risk management techniques and operations.
RPRD 802 Financial Institutions Theory and Practice
This course explores theories and practices explaining the role and operation of financial institutions and markets. It will explore current problems and puzzles that are specific to financial institutions.
RPRD 803 Financial Regulation
This course discusses current theory, practice and unresolved problems in financial regulation, especially in relation to controlling risks in financial institutions and the financial system.
RPRD 804 Advanced Topics in Risk Management and Regulation
This course will cover important current topics in financial risk management and regulation. The topics will require detailed analysis of topics suggested by academics and practitioners from the public and private sectors.
Presenters in the Advanced Seminar include:
Philippe Grégoire holds a Master's degree in Economics from Queen's University and a Bachelor in Commerce from HEC Montréal. He enrolled in the RPRD because he is convinced that the uniqueness, the completeness and the scope of the RPRD will give him the skills to become an effective and successful risk manager, a career which he believes holds great challenges and keeps evolving.
“In my interviews with a major financial institution, the RPRD definitely helped me in answering all the technical questions, as we had covered most of it in class. During the interviews, I described the four courses of the diploma and tried to emphasize how important they are to becoming a good risk manager. I received a job offer from this institution a few hours after my interviews were done.
I decided to accept the offer for various reasons. I feel that the institution understood the value of the RPRD from the beginning. One of the HR persons actually told me that when they ask for the various programs at Queen's and saw the RPRD, it really increased their interest in Queen's and is one of the reasons why they did a presentation there. During a networking event that took place, I had the opportunity to talk with people who are working in risk management in the financial institution. Most of them were aware of the RPRD but they didn't know the specific details. They mentioned that, for their program, they wanted someone who understands the risk manager's tools but that also has good business acumen. In other words, they weren't looking for a quant. I felt that this was a great fit with what the RPRD is aiming for.”
The program draws on core faculty expertise in the Department of Economics, notably Frank Milne (BMO Professor of Economics and Finance) who teaches an existing graduate risk management course, supervises graduate students in the area and will serve as the first Director. David Longworth who is an adjunct professor in the Department and previously served as Deputy Governor (Financial System) at the Bank of Canada will also teach one of the courses.
Frank Milne is currently BMO Professor of Economics and Finance in the Economics Department, Queen’s University, Canada. Milne’s research interests and contributions have included theoretical analysis of Financial Security Pricing; analysis of Financial Stability in Banking Systems; Financial Risk Management Systems; and the analysis of Corporate and Non-Profit governance structures.
He has consulted widely in the private and public sectors in Australia, Canada and the U.K. He has been a consultant at the Bank of England; and in 2008-9 was a Special Advisor to the Bank of Canada.
David Longworth was a Deputy Governor of the Bank of Canada from April 2003 until his retirement from the Bank in March 2010 after 36 years of service. As a member of the Bank’s Governing Council, he shared responsibility for decisions with respect to monetary policy and financial system stability. From 2005-2010 he served as a Bank representative on the Committee of the Global Financial System and the BIS Markets Committee.
At Queen’s since 2011, he has been a frequent John Weatherall Distinguished Fellow and term adjunct professor, teaching a seminar on comparative financial crises. His major research interest is macroprudential policy.
Additional faculty who may contribute include Thor Koeppl (monetary and financial economics), Morten Nielsen (time-series and financial econometrics), Huw Lloyd-Ellis (macroeconomics and housing), Allen Head (macroeconomics and monetary economics) James Bergin (real and financial networks) and Jan Zabojnik (managerial economics).
The courses offered as part of the graduate RPRD will normally assume knowledge from MA/MFE coursework. The minimum standard of admission will be a B+ (77%-79% or 3.3 GPA) in a MA in Economics, MFE or equivalent qualification. Students are expected to have completed graduate level courses in microeconomics, macroeconomics, econometrics and basic finance, as well as to have basic knowledge of derivatives pricing through course work or an appropriate reading program. Relevant work experience will be taken into consideration, but is not a substitute for these qualifications.
Along with your application, you will be required to submit two official transcripts from each of the post-secondary institutions you have attended. All transcripts must be sent directly from the issuing university to the School of Graduate Studies at the address above. If your transcript is written in a language besides English or French, it must be accompanied by a translation completed by the issuing university. Unofficial transcripts will not be accepted. Photocopies of transcripts will not be accepted unless they are properly notarized. If your transcript does not indicate the degree you were granted and the date you received it, you will need to submit an official letter from the issuing university providing this information.
Please note: If you are a current or former student of Queen’s University, you will not be required to submit your Queen’s transcript.
Fall term marks:
If you have not already completed your degree, we will require fall term marks before evaluating your application. Fall term marks may be submitted after the April 30th application deadline, however, it is best to send them as soon as possible so that your application may be adjudicated in a timely fashion.
Reference letters are submitted through the online application portal. Once an application is submitted, referees are notified via email and are provided with a specific link to complete the necessary form. If your referee did not receive this email, please have him/her check their “junk mail” as often this is where they end up. If this is not the case, please email us and we will arrange to have the email re-sent.
The RPRD program requires two academic reference letters in order to consider an application complete. Incomplete applications will not be adjudicated. If you are currently employed, please use your current employer as one of your two referees. Please note your employer reference can be mailed in however it must be received directly from the source and it must be in a sealed and signed envelope. Reference letters sent through any other means will not be accepted.
ENGLISH AS A SECOND LANGUAGE:
At Queen’s, the official language of instruction is English. As such, non-native English speakers will be required to submit an English Language Proficiency test. Canadian citizens and permanent residents are not required to submit proof of English language proficiency. If English is your first language or you have recently attended an academic institution for at least one complete year where English is the official language of instruction, you may be eligible for an exemption. To request an exemption, please submit your request in writing along with your application and address it to the Director, Admissions and Student Services at the School of Graduate Studies. English Proficiency scores must also be sent directly from the issuing agency.
The tuition fees for the RPRD program are $9,600.00 for domestic students, and $19,200.00 for international students.
Details about fees and fee payment can be found on the website of the Office of the University Registrar.
Fees for the upcoming academic session are normally published to that website in May each year.
Successful applicants, those who are granted admission to the RPRD program, will be considered for a GRI Tuition Award of $4,500. There is no formal application for this award, and it will be awarded based on merit by our program directors after they have reviewed applications.
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