Risk Management

Investors in financial markets and regulators expect corporations to establish an adequate and up-to-date risk management function. A proper understanding of risk management techniques is essential in today’s markets since the decisions of risk management professionals such as treasurers, risk analysts, risk controllers and portfolio managers may determine the fate of a whole institution.

This course is structured around case studies that allow students study the fundamentals of corporate financial risk management in diverse situations. It covers techniques to identify, measure and manage corporate financial risk for both financial and non financial institutions. Specifically, topics will include approaches to manage foreign exchange rate risk, interest rate risk and credit risk, static and dynamic hedging strategies and portfolio insurance techniques. Students will learn to apply different risk measures such as Value-at-Risk, Expected Shortfall, and also to analyze the impact of risk incidents on corporate (accounting) earnings and Cash Flows and corporate liquidity risk. The course will also address advantages and disadvantages of using hedging instruments such as futures, options, and credit default swaps (CDS) in order to limit a corporations exposure to risks. The course is both quantitative and application driven.

Learning objectives

Upon completion of this course, you will:

  • Gain an introduction and overview over modern risk modeling techniques for analyzing optimizing the risk position of a corporation;
  • Understand how to apply hedging strategies using derivative instruments such as futures and options;
  • Work with real world data and case studies.

Key concepts

  • Market risk
  • Credit risk
  • Interest rate risk
  • Exchange rate risk
  • Hedging with Futures & Options
  • Financial Engineering
  • Structured Finance

Ludmila Ketterer

Senior Manager -
Master in Finance & Corporate Programs
+49 69 798 33512

Key Facts

Course materials
Course materials except books will be provided in electronic form.


Course fee*
€ 1.900 (fee is exempt from VAT). Goethe Business School students and alumni receive a 20% discount off the regular fee.

Certificate of participation
A GBS certificate of participation is awarded upon completion of the course.

House of Finance, Goethe University, Theodor-W.-Adorno-Platz 3, 60323 Frankfurt

*Withdrawal and fee refund

In case the course withdrawal request is received two weeks prior to the start of classes, we will retain a withdrawal fee of EUR 50. In case the course withdrawal request is received less than two weeks prior to the start of classes, we will retain 50% of the payment made.

Course format

This course is offered in the part-time Master in Finance program and may be attended on a “no credit” basis by individuals not enrolled in the program. Course participants are visitors who are not responsible for assignments and do not take an exam or earn academic credits. As the number of seats in the course is limited, we recommend to register online early.

Mark Wahrenburg is the founding Dean of Goethe Business School and Chaired Professor of Banking and Finance of Frankfurt University. He received a Master degree in Business Administration and a PhD from the University of Cologne. Prof. Wahrenburg has been visiting professor at the Wharton School and full professor of finance at the University of Witten/Herdecke. For several years, he worked as a consultant with McKinsey and American Management Systems. Professor Wahrenburg also spent one year in Vietnam in order to support the establishment for the German-Vietnamese-University in Ho-Chi-Minh-City.

Course schedule - 2019

Fri., March 29, 2019
13:00-15:00, 15:30-17:30
Sat., March 30, 2019
Fri., April 12, 2019
Sat., April 13, 2019
09:00-11:00, 11:30-13:30
Fri., April 26, 2019
15:30-17:30, 18:00-20:00
Sat., April 27, 2019
Fri., May 10, 2019
Sat., May 11, 2019
09:00-11:00, 11:30-13:30
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