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Risk Management, M.S.

Risk is pervasive across the 21st-century business environment. Business executives—in addition to evaluating revenue-generation and cost-efficiency—must prioritize organizational risk management as volatility and interdependencies of markets increase. This includes expanding corporate recognition of risk in terms of scope of importance, moving beyond previously established areas, such as cybersecurity and financial risk, to additional domains, such as health and safety.

There is an accelerated need to consider risk as a part of an organization’s digital transformation, which is fundamental to effectively resolve continuity and crisis management. The School of Management’s Master of Science in Risk Management program prepares students to become successful leaders in a dynamic, competitive global business environment, by providing quality, solutions-oriented learning experiences.

Moreover, our risk management master’s degree program aligns with established best-practice priorities, as established by the Institute for Risk Management including coverage of crisis management, communication, supply chain, the regulatory context, and cashflow/liquidity elements; the program’s recency also allows it to aggregate the emerging market trends in ways that provide a competitive advantage over other risk management programs, each of which addresses elements of the program’s competencies but none of which address them collectively.

Curriculum Overview

The program emphasizes enterprise risk management, and takes risk management beyond the traditional areas of cybersecurity, financial risk, and insurance by focusing on additional areas, such as business continuity management; risks associated with product and market development; human capital and risk management; and legal and regulatory risk management. The structure of the curriculum is focused to allow a student with prior undergraduate business education to complete the program with as few as 30 credits. The courses proposed in the curriculum have been informed by accreditation standards, market needs, and validity of content coverage per alignment with best practices for risk management programs. Technology integration and data analytics have been given higher importance, so as to address the future challenges of the risk management industry, stakeholder inputs and New York Institute of Technology’s mission statement.

Recent graduates of the School of Management speak highly of the real-world focus of its classes which prepare students to deal with workplace challenges that they will encounter on the job, success in developing professional competencies, challenging coursework, quality, and involvement of its faculty, and small class sizes.

Program Positioning Statement
The purpose of the Master of Science in Risk Management is to produce graduates who fulfill enterprise needs for risk management, by embracing preemptive knowledge management that mitigate dynamic downside risks and explore upside opportunities.

Our program is designed to meet the needs of not only current professionals, but those aspiring to these fields, as well as individuals who are engaged in risk assessment.

Program Features and the Learning Environment
The learning environment is designed for the practicing professional and promising career aspirant. Through coursework, students learn to apply principles, organization, and behavioral science theories to practical risk management problems. Case studies, simulations, research studies and field projects provide the opportunities to test and practice this new knowledge. Course materials reflect the most recent research findings, legal decisions, and current practices. Students often use their own organizations as field laboratories for applying, testing, modifying, and adapting new management practices and techniques.

We also facilitate student participation in educational seminars and conferences sponsored by the School of Management’s Centers for Excellence throughout the academic year. The centers provide opportunities for students to develop their leadership skills and helps launch their professional careers. Some graduate assistantships may also be available.

Programmatic Learning Goals

Upon graduation from the Master of Science program, students will be able to demonstrate attainment of general and program-specific learning goals. These goals are designed to reflect the competencies expected of risk management professionals in the workplace. Student success is a shared and collaborative responsibility that engages students, faculty, staff and other stakeholder groups, working together to maximize students’ opportunities to be successful.

Risk Management, M.S. Program General Learning Goals
Upon completion of the Risk Management, M.S. program, students will be able to:

  1. Utilize technology applications and research to make data-driven decisions.
  2. Recognize socio-economic issues and establish and defend a position supported by ethical reasoning.
  3. Design and implement organization and initiatives in collaboration with relevant stakeholders.

Risk Management, M.S. Program-Specific Learning Goals
Upon completion of the Risk Management, M.S. program, students will be able to:

  1. Successful students will be able to analyze an existing or emergent business risk-related issue and provide recommendations to inform management policy.
  2. Successful students will be able to evaluate risk-related alternatives and enhance/strengthen managerial decision-making.
  3. Successful students will be able to employ industry-standard software and models to affect sound managerial decision making.

The portfolio of courses taken in fulfillment of the degree requirements contains a significant scope of student learning outcomes that are scored, independent from grades, against these goals. In this way the student may address, in a formative manner, their progression through the degree program.

Academic Policies and Standards

The School of Management implements processes for the risk management program that are in addition to those of the university for the purpose of ensuring effective student selection and retention.

Academic Probation and Dismissal
Students must maintain a 3.0 GPA each semester. They may repeat a course in which they receive a grade of C or lower to raise their grade. A course in which the student receives a grade of F must be repeated, if required by the department academic review committee.

Academic probation is automatically imposed if the student’s GPA falls below 3.0 in any semester, or the cumulative GPA falls below 3.0. The student then has exactly one semester to bring the cumulative GPA to 3.0. If the student fails to do so, the student will be dismissed from the program. Students will also be dismissed if the semester GPA in any two successive semesters is below 3.0.

Grounds for departmental review and possible dismissal from the program also include:

The committee, at its discretion, may require the student to repeat one or more courses in which the student has a grade lower than B; reduce their credit load; take other remedial action; or recommend the student’s dismissal from the Risk Management, M.S. program.

Graduation
The criteria used to evaluate students for graduation are uniform at all campus locations and, pertaining to the Risk Management, M.S. academic program, the graduate cumulative GPA will be a minimum of 3.0. Additional criteria for graduation are located in the NYIT Graduate Catalog.

Time to Degree Completion
In the best interests of the student and the college, a maximum of five years is allowed for completion of degree requirements. Under exceptional conditions, an additional year may be permitted upon formal request and approval by the academic dean and the provost.

Repeat Policy
Students must repeat a course in which they receive a grade of F, if required by the department academic review committee.


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Admission Requirements

  • B.S. degree or its equivalent from an accredited college or university
    • If you already hold a graduate degree from a regionally accredited university, you may be admitted into the M.S. program upon receipt of the admissions documents.
  • Minimum undergraduate GPA of 3.0.
  • The GMAT is not a requirement for admission, but may be submitted toward fulfillment of the M.S. admissions criteria if a student’s undergraduate GPA is below the requirement listed above. Students will be considered for admission if they receive a satisfactory composite GMAT score, which will be determined by the graduate faculty and will consist of a numerical calculation of the undergraduate GPA and GMAT score.

Application Materials

  • Completed application
  • $50 nonrefundable application fee
  • Copies of undergraduate transcripts for all schools attended. All final, official transcripts must be received prior to the start of your first semester.
  • Copy of college diploma or proof of degree
  • Official GMAT scores, if required. New York Institute of Technology GMAT Codes:
    Full-time (nine or more credits): OQN-RL-35
    Part-time (less than nine credits): OQN-RL-74
  • International student requirements: English proficiency, I-20, and transcript evaluation
    • Applicants must meet English proficiency requirements by providing a minimum score of 6.0 (IELTS), 79 (TOEFL IBT), or 53 Pearson PTE). Successful completion of the ESL Pathway Program satisfies the English proficiency requirement to the M.S. program.

Important admission notes:

  • All application materials must be fully submitted prior to consideration for admission to the M.S. program.
  • All applicants will either be fully admitted or not admitted into the M.S. program.
  • Professional background may not be used as a proxy or substitute for the admissions criteria.
  • Students may neither be conditionally admitted into the M.S. program nor granted provisional status in the M.S. program.
  • There will be no categories for non-matriculated and non-degree status.
  • There will be no Early Admission students.
  • No student may register for a 600-level M.S. course until fully admitted into the M.S. program (Students transferring from another New York Institute of Technology graduate program into the M.S. program must satisfy the admissions criteria for the M.S. program).
  • All Bridge Program students must complete all bridge courses with a satisfactory GPA prior to registering for any 600-level M.S. course.
  • Students may only utilize a proxy examination score in place of the GMAT (e.g., GRE, LSAT) if explicitly approved by the School of Management Dean.
  • Students who already hold a graduate degree from a regionally accredited university will be admitted into the M.S. program upon receipt of the admissions documents.

Waivers and Transfers

These policies ensure program integrity and also that student ability to attain the learning goals of the program is not compromised.

The M.S. non-waivable program core credit hour requirement must be completed in the School of Management in its entirety.

Waivers

  • Undergraduate and graduate coursework completed elsewhere, but only from a regionally accredited institution, may be used to waive credit hour requirements in the M.S. waivable program core, if equivalencies are established. The School of Management will administer a qualifying examination for the purpose of waiving credit hour requirements in the waivable core in those circumstances where there is evidenced professional, academic, or other relevant experience.
  • A grade of C- or better is required for any course utilized to waive a course in the M.S. waivable program core.
  • Pass grades earned during the spring 2020 semester meet this GPA threshold and are transferable to New York Tech.

Transfers

  • A maximum of nine credit hours of graduate coursework completed elsewhere, but only from a regionally accredited institution, may be transferred into the M.S. program and only toward the elective credit hour requirements.
  • A maximum of three credit hours completed elsewhere, but only from an AACSB-accredited institution, may be transferred toward concentration requirements of the M.S. program. These credit hours are not in addition to the nine credit hours specified above.
  • Transfer of courses will only be considered for those with a grade of B or higher and must not have been applied toward another degree.
  • Pass grades earned during the spring 2020 semester meet this GPA threshold and are transferable to New York Tech.
  • Courses presented for transfer credit must be submitted for consideration with official transcripts from the other program, and must have been completed within five years of initial acceptance into the M.S. program.

International Student Admissions

There are three categories international students may fall into as an applicant:

  1. Students who have completed only a three-year (or more) degree-bearing postsecondary program, which is equivalent to a U.S. bachelor’s degree may apply directly for admission into the M.S. program.
  2. M.S. BRIDGE: Students who have completed only a three-year (or more) degree-bearing postsecondary program, which is not equivalent to a U.S. bachelor’s degree may be eligible for the M.S. Bridge Program. If students are admitted into the M.S. Bridge program, they are considered an M.S. student.
  3. Transfer BRIDGE to M.S.: Students who have earned undergraduate credits, which have not resulted in an equivalency to a U.S. bachelor’s degree may be eligible for the Transfer Bridge programs.

Eligibility for M.S. BRIDGE and M.S. TRANSFER BRIDGE to M.S. programs

  • The applicant may be required to take the English Proficiency Examination prior to enrollment.
  • The applicant must meet the admission policy for the M.S. program.
  • The applicant must complete additional undergraduate credit hours with a GPA of at least 3.0. A substantial number of these credits may be in English as a second language (ESL) courses depending upon the results of the aforementioned English Proficiency Examination. The number of credit hours varies based on the specific program (e.g., M.S. BRIDGE; TRANSFER BRIDGE to M.S.).
  • Upon satisfactory completion of these additional undergraduate credits (and attainment of an New York Institute of Technology Baccalaureate degree for TRANSFER BRIDGE to M.S. students) and attainment of the aforementioned satisfactory GPA, the applicant will be permitted to enroll into 600/700 level courses. If the student fails to meet the criteria listed above, the student must either retake courses so that this condition is met or be dismissed from the M.S. program. There are no conditional admittances to the M.S. program.

Action Plan for M.S. BRIDGE students (completed only a three-year, degree-bearing, post-secondary program, which is not equivalent to a U.S. bachelor’s degree):

  1. M.S. BRIDGE students will take credit hours of undergraduate coursework only (students may take 500-level classes toward fulfillment of this condition: these 1.5 credit hour courses, which are identical in course content (scale and scope) to their articulated three (3) credit undergraduate courses, but in accelerated format, will carry three credit hours equivalence toward the bridge requirements), with preference toward taking those courses that would satisfy M.S. prerequisite requirements and those ELI courses that are deemed necessary. Recommended courses include courses in the undergraduate B.S.B.A. business program core; English Business coursework; American History coursework; and additional business courses in the specified area of specialization.
  2. M.S. BRIDGE students will be advised by School of Management undergraduate advisors and the office of Admissions concerning course selection.
  3. M.S. BRIDGE students may take no graduate courses above the 500 level.
  4. M.S. BRIDGE students may only take coursework that is not equivalent to courses on submitted transcripts from other institutions.
  5. M.S. BRIDGE students must have successfully completed a total of 120 credit hours of coursework, including credit hours earned during their three-year, post-secondary program in addition to those credit hours successfully completed in the bridge program, prior to enrolling into 600/700-level courses in the M.S. program.

Action Plan for TRANSFER BRIDGE to M.S. Applicants (earned undergraduate credits, which have not resulted in an equivalency to a U.S. bachelor’s degree):

  1. M.S. TRANSFER BRIDGE students will take a minimum of 30 credit hours of undergraduate coursework only, with preference toward taking those courses that would satisfy M.S. prerequisite requirements (e.g., 595 courses) and those ELI courses that are deemed necessary.
  2. All applicants must complete an New York Institute of Technology Baccalaureate degree prior to admission into the M.S. program.
  3. Students will be advised by the transfer advisors in the Office of Admissions as to efficient pathways for degree completion, and appropriate coursework required toward completing a baccalaureate degree at the university.
  4. Follow steps 3–5 of the Action Plan for M.S. BRIDGE students, above.