You will study seven core taught online/distance learning modules in Semester One and Semester Two with 60 (ECTS) credits leading to a Postgraduate Certificate. The module “Introduction to Finance and Insurance” includes a non-compulsory induction week in the German Black Forest.
Students who successfully complete the 12 months Postgraduate Certificate (equivalent to a UK Postgraduate Diploma) can convert this to an MBA in Finance, Risk and Insurance by completing the Master’s Top-Up. This will take additional 6 months to complete in Semester Three where students will gain 30 ECTS and attend block seminars at Offenburg University‘s Campus Gengenbach choosing one elective (modules offered may vary). In addition, research skills will be developed in order to prepare participants for their Master Thesis.
Introduction to Finance and Insurance
• Management and Leadership in Finance
• International Financial Markets
Strategic Management in Finance
• Strategic Management
• Innovation and Design Thinking
Global Business and the Digital Agenda
• Global Economics
Insurance and Regulations
• Insurance Markets and Regulations
• ECA Foundations and Principles
• Corporate Finance
• Financial Accounting and Reporting
• Islamic Finance and Insurance
Risk Management in Foreign Trade
• Risk Management and Compliance
• Macroeconomic Risk Analysis
Global Business and the Digital Agenda
• Digitalisation: Fintech and Insuretech
Underwriting and Claims
• Underwriting and Portfolio Management
• Claims and Recovery
• Structuring Transactions
Elective 1: Global Strategy
• Corporate Diplomacy
• International Negotiation Skills
• International Trade Law
Elective 2: Business Analytics and Decision Making
• Analytical Business Understanding for Risk Management
• Financial Analytics
• Innovative Decision Making
Elective 3: Business Consulting Project
• Innovative Consulting
• Business Project
Research Methodologies and Methods and Master Thesis
Module 1: Introduction to Finance and Insurance
Course: Management and Leadership in Finance
This course provides participants with an in-depth knowledge about the global business environment and context in which finance and insurance organisations operate, as well as the formulation and implementation of management strategies. The course addresses key debates and issues in management and leadership enabling students to gain an understanding of theories and models within the fields of organisational behaviour and human resource management. Participants will also be engaged in a conceptual exploration of classical and contemporary theories of leadership focusing on commercial banks and private credit insurers, as well as export credit agencies and development finance institutions. Through online lectures and reading, students will explore the relationship between leadership and followership in order to become a leader in the global finance and insurance community.
Course: International Financial Markets
This course will provide students with a broad knowledge of international financial markets and financial institutions. It focuses on issues related to the role of a financial system and the functions of different types of financial institutions, such as banks, insurance companies and export credit agencies as well as multilateral organisations. Students will critically evaluate the role and context of financial organisations in their markets from a global perspective. Case studies and examples from practice will be used to appraise the framework and roles of financial markets and institutions.
Module 2: Strategic Management in Finance
Course: Strategic Management
In this course, students will gain a fundamental understanding of the theory and practice of strategic management in commercial banks, development finance institutions, export credit agencies and private insurance companies. The course will start with a review of the key analytical tools before moving on to study a range of strategic issues. This includes organisational growth and development, the creation of a sustainable competitive advantage, innovation management, decision making and implementing change. Case studies will be used to apply strategic theory to organisations. Through online lectures and directed reading, students will enhance their understanding of key concepts, meet the module learning outcomes, and prepare themselves for a strategic role in their organisation.
Course: Innovation and Design Thinking
In this course, students will study the theoretical basis of innovation cycles, the diffusion of new ideas, the management of organisational innovation, innovation networks, creative thinking and the development of a value proposition. Students will apply problem solving and ideation tools to markets, segment customers on the basis of behavioural traits, enhance differentiation in products and services, and strive to develop uncontested spaces and realign existing business models to the new realities. During the course, students will use ethnographic study and ideation techniques to reconsider business models from a ‘human-centered’ design perspective. Using online lectures, case studies and directed reading, participants in particular from development finance institutions and commercial banks as well as private credit insurers and government ECAs will enhance their understanding of key concepts to meet the module learning outcomes.
Module 3: Global Business and the Digital Agenda
Course: Global Economics
In this course, students will learn fundamentals regarding the dynamics of the global economy and a basic understanding of the new growth theory. Different political instruments are discussed against the background of the costs of protection and the benefit of free trade. Participants will also explore characteristics of capitalist economies and examine economic causes of population change. The subjects to be discussed will include comparative and absolute advantage principles, exchange rates, quotas and other forms of trade restrictions focusing especially on relevant aspects for MDBs, DFIs, ECAs and PRIs.
Course: Digitalisation - Fintech and Insuretech
This course provides students with a deeper understanding of the transformational role that Fintech and Insuretech are playing in the financial services and insurance sectors. The course will look at where this transformation is disruptive and how it is disruptive, but also look at how the relationship between the current incumbents in banking and insurance and the newly emerging collaborative relationships that are now developing. Participants will use the theory of innovation and entrepreneurship to examine specific cases of disruption and collaboration and explore the system's is evolution over time.
Module 4: International Finance
Course: Corporate Finance
The course presents the basic structures of corporate finance at a conceptual level sufficiently refined to understand and interpret the business model and risk profiles of firms with significant exposure to international trade financing relations. This also includes the case of development banks under current market conditions and the benchmark case where forward (FX and fixed income) contracts can be reliably priced. Online lectures and reading materials will be complemented by comprehensive homework assignments covering the situation under no-arbitrage constraints. The techniques include sensitivity analysis and spreadsheet-based simulation. Case studies will then delve deeper into environments that can arise for incomplete markets as well as more recent phenomena of violations of law-of-one-price relations.
Course: Financial Accounting and Reporting
Financial Accounting and Report will further develop students’ ability to record transactions and prepare company financial statements including income statement, balance sheets and cash flow statements using the principles of double entry bookkeeping. It will also enhance students’ ability to understand and interpret published accounts. The course concentrates on examining the structure and significance of financial statements, and provides an insight into the main creative accounting and window dressing techniques. By the end of the course, students will also have an awareness of the literature relating to financial reporting theory as well as the implications of market efficiency for financial reporting.
Course: Islamic Finance and Insurance
In this course, students will be provided with an understanding of the principles and implications of Islamic law for financial systems. This includes the history, current status, and prospects of Islamic banking and insurance models in theory and practice. Participants will also critically examine the systems of governance and regulation applied to Islamic banking and financial intermediation. Through online lectures and reading materials as well as case studies, controversies and challenges facing of Islamic banking and insurance will also be evaluated.
Module 5: Risk Management in Foreign Trade
Course: Risk Management and Compliance
The fast-changing corporate world not only requires new business models to cope with the rising complexity and to keep up with the fast pace, but also an adequate corporate governance framework. Risk management and compliance are two important topics students will explore based on a top-down approach. This course develops an understanding of the business itself and its environment, enhance knowledge about risks, risk management systems (RMS) and compliance management systems (CMS), using qualitative and quantitative analytical techniques. The course will be held online with mandatory reading material for preparation before and usage during the lecture.
Course: Macroeconomic Risk Analysis
In this course, students will gain a thorough understanding of macroeconomic risks with a strong focus on country risk analyses. Learning will start from a macroeconomic perspective examining concepts and theories being relevant, in particular, for development banks, credit insurers and commercial banks. Case studies will be used to show the workings of macroeconomics in the real world. To apply knowledge in this module, students will be asked to interpret macroeconomic data and conduct their own country analyses. Online lectures and reading material will support students in understanding and applying key concepts to meet the module learning outcomes.
Module 6: Insurance and Regulations
Course: Insurance Markets and Regulations
This course will provide students with an understanding of the fundamentals and key concepts of insurance markets and regulation from an international perspective. It will introduce the underlying principles of insurance such as the concept of risk and uncertainty as well as risk aversion, utility theory and the optimal demand of insurance. Furthermore, participants will analyse the structure and characteristics of insurance markets and discuss key principles of (commercial) P&C insurance. Case studies and examples from practice will be used to evaluate the role of insurance in organizational/enterprise risk management and to transfer theoretical concepts into the student’s business context and decision making.
Course: ECA Foundations and Principles
The purpose of this course is to cover the theories and operations of government export credit agencies in the context the global economy, international trade and corporate risk management. Relevant topics include the critical evaluation of advanced theories in export finance and trade credit insurance, the mandates and foundations of export credit agencies, as well rules and regulations including WTO law and the OECD Arrangement. The course will also assess ECA products and procedures, and focus on ‘hot topics’ including ECA benchmarking, the combination of trade and innovation instruments, as well as a changing global trade environment. Through online lectures and directed reading, students will enhance their understanding of ECA concepts, and prepare themselves for leadership roles in their organisation.
Module 7: Underwriting and Claims
Module 7: Underwriting and Claims
Course: Underwriting and Portfolio Management
The course covers the role of credit insurance underwriting including identification, assessment and acceptance of political and commercial risk, rating, and other relevant financial factors. Students will enhance their knowledge in answering credit decisions relating to portfolios of corporate credits. They will be able to follow appropriate underwriting strategies to assume risk, control loss ratios, and support exporters’ business objectives. Furthermore, the course includes approaches how to effectively communicate underwriting strategies and limit decisions both with internal and external factors. Online lectures and reading material, also on specific topics such as project and structured finance, environmental assessments and the OECD Arrangement, will support students in understanding and applying key concepts to meet the module learning outcomes.
Course: Claims and Recoveries
Claims and Recoveries will focus on practical aspects of managing and collecting overdue receivables. It will equip participants with valuable skills on different procedures and approaches corporations and export credit agencies use to protect their claims against overseas buyers. Practical cases will be discussed to show differences in contract enforcement mechanisms as well as the efficiency of legal proceeding versus amicable settlements.
Course: Structuring Transactions
This course provides participants with a deeper understanding of how to structure trade and export finance transactions in a global business environment. This includes basic requirements for the involvement of international commercial banks, export credit agencies, private credit insurers, as well as multilateral development banks and bilateral development finance institutions. The course also focuses on approaches with regard to challenges faced when working in the local marketplace, as well as latest regulatory developments taking place looking at their impact on trade and export finance deals.