Master in Finance and Economics – Risk Management (2nd year)
University of Luxembourg
Information last verified July 2026
Program Overview
The Risk Management Track targets students who seek to gain expertise in the risk management divisions of financial and non-financial organizations, with a focus on banks, investment funds and insurances.
Key Program Features
- Requirements Specialized knowledge of quantitative risk management tools Balance between theory and practice Exposure to the risk management sector Possibility to write a master thesis under the joins supervision of top-notch research faculty and industry professionals Collaborations with esteemed professionals from the industry Opportunities for professional networking
Career Opportunities
Study and career opportunities The Risk Management Track targets students who seek to gain expertise in the risk management divisions of financial and non-financial organizations. Three modules dedicated to risk management in banks, investment funds and insurance companies bridge the gap between theory and practice and provides students with a modern set of skills that apply to different industries and regulatory environments. FDEF internships/scholarships Internships & student counseling Alumni Career centre Objectives Learning outcomes Provide a comprehensive view of the dynamics emerging in the risk management field for different types of organizations (banks, investment funds, insurances). Rigorously assess the types of risks organizations face in modern times. Be familiar with the statistical and quantitative tools of risk management in organizations. Have an in-depth knowledge of how to apply risk management tools for banks, investment fund, insurances. Ascertain, interpret and communicate information coming from data analysisAssess the impact of risks that organizations faces of their business, both in isolation and in terms of cumulative impactDevelop strategies that prepare organizations to respond to threats and seize opportunities deriving from external eventsAcquire communication and key soft skills, and be familiar with values such as ethics and social responsibility Career perspectives Luxembourg offers a dynamic and international job market. Graduates from the Master in Finance and Economics, based on their second-year specialisation, will be prepared for different career paths in Luxembourg or abroad, for example with:• Banks and other financial institutions• Asset management firms• Consultancy companies• Industrial companies• Insurance companies• European or national financial institutions• Financial administration• Academia The different tracks allow students to pursue their chosen field of specialisation while also offering a common foundation and
Program Curriculum
Programme The modules cover fundamental subjects of risk management and the application of quantitative risk management tools. Three modules dedicated to risk management in banks, investment funds and insurance companies bridge the gap between theory and practice and provides students with a modern set of skills that apply to different industries and regulatory environments.Attendance at second year courses is compulsory. Admissions Academic contents Semester 1 and 2 Semester 1 and 2 Semester 3 Semester 4 The courses of the first year are part of the main common programme and not track specific. Master in Finance and Economics Learn more Course offer for Risk Management, Semestre 3 (2026-2027 Winter) 3.RMT1.Analysis and Management of Risks ECTS credits: 10 Course code: MScFE_RM-1 Course title: 3.RMT1.Analysis and Management of Risks Number of ECTS: 10 Course code: MScFE_RM-1 Module(s): Module 3.RMT: Specialisation Risk Management Track Language: EN Mandatory: Yes Become familiar with the range of risks facing corporations and learn how to measure, manage and mitigate these risks. The discussion will focus on general risk management approaches and specifically market, credit, liquidity and operational risk. A discussion on Asset and Liability Management. Apply state-of-the-art risk measurement and risk management techniques, which are nevertheless tractable in realistic situations Use derivatives in market and credit risk management Understand the current academic and practitioner literature on market risk management techniques The four faculty will introduce basic concepts and a wide range of risk management aspects to students.Thomas Schröder (30 TU) will deliver a framing of the module, introduce into important risk measurement techniques (VaR, Expected Shortfall, etc.) and cover specifically credit, liquidity and some aspects of systemic risk and regulation of financial institutions. Concepts, measurement methodologies and mitigation strategies will be discussed.
Admission Requirements
Admissions To apply for a programme at the University of Luxembourg, candidates must comply with the general eligibility criteria for the chosen programme type and be selected by the study programme based on the quality of their application. The programme at a glance – 120 ECTS Duration: 2 years / 4 sem Teaching languages: EN Admissions: EU: 1 Feb 2026 – 24 May 2026 Non-EU: 1 Feb 2026 – 24 Mar 2026 Fees: 400€/ sem. (semester 3,4) Format: Full-time programme (Part-time student status allowed) Specific information for this programme Requirements a 4-year BA degree in the field of Economics and Finance with 240 ECTsa 3-year BA and 1-year Masters in the field achieving 240 ECTsa specific and strong motivation for the chosen track in addition, the applicants have to provide information how they achieved the learning outcomes at first year of Master level All applicants whose native language is not English need to be able to demonstrate proficiency of English at B2 level (compulsory), (according to the Common European Framework of Reference for Languages – CEFR) Proof of language skills – Motivation letter– CV– A description of relevant modules/courses explaining how the learning objectives at M1 level have been achieved in the previous course of studies including the prerequisites (2.E1.Financial Analysis and Valuation & 2.E3.Derivatives) . Selection procedure & criteria The application file is assessed by the Admissions Board. Applicants are evaluated and selected on the basis of the application criteria to the MSc in Finance and Economics in general. (adequacy of the applicant’s educational or professional profile with expectations, including the applicant’s academic background, academic level assessed on the basis of transcripts (average, student rank if applicable), a strong motivation as demonstrated in the applicant’s cover letter. For second year, if the number of eligible applicants exceeds 20 students (numerus clausus) per track, you will be placed on a waiting
Tuition & Financial Information
Tuition Fee
400€/semester
About University of Luxembourg
University of Luxembourg
Esch-sur-Alzette, Luxembourg
The University of Luxembourg is a public research university in Esch-sur-Alzette and Luxembourg City, Luxembourg. It was founded in 2003 and is the only public university in Luxembourg.
University Profile- Application Deadline EU: 1 Feb 2026 – 24 May 2026 Non-EU: 1 Feb 2026 – 24 Mar 2026 Fees: 400€/ sem. (semester 3,4) Format
- Start Date September
- Language English
- Duration 2 years
- Credits 120
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