Finance and Insurance
We would like to inform students that on May 16, 2022 at 6 p.m. Dr. Gaetano Nappi and Dr. Angelo Peirano (MSCI) will give a seminar titled "L’analisi di portafoglio tramite il modello fattoriale Barra per stimare le più opportune metriche di rischio (tra cui VaR e volatilità ex ante) e identificare e quantificare i loro maggiori contributori essenziali per la gestione di un portafoglio finanziario in linea con le aspettative" Zoom link: Aula di Matematica (here)
Students are informed that the lecture scheduled for 31 March on Finanza Quantitativa - Prof.ssa Oliva will not be held. Lessons will resume regularly on 4 April.
Students are informed that the lessons scheduled for 30 and 31 March on Risk management and capital requirements - Prof. Marino will not be held. The lessons will resume regularly on 5 April.
We inform that lessons of Analysis of historical series - Prof. Petrella on the Tuesday at 14.00-16.00 will be held in the Fanfani classroom.
We inform that lessons of Insurance Technique and Finance - Prof. De Angelis on Wednesday 11.00-13.00 will be held in the Di Fresco classroom.
We inform that lessons of Tecnica e finanza delle assicurazioni and Teoria e tecnica attuariale della previdenza (Prof. De Angelis) will begin on March 1, 2022. Further details are available on Prof. De Angelis webpage.
We inform that the Secon Edition of Employability Lab has been started. For further details, visit the Placement page.
We inform that the call for Erasmus+ Extra-UE a.y. 2022/2023 has been published. Deadline: February 18, 2022.
For further details click here
Students are strongly invited to attend lessons in person and to compulsorily reserve their seat in the classroom by using the Prodigit platform, with their student ID number and Infostud password.
To help undergraduate students and recent graduates in their career path, Sapienza offers some online appointments. For more information, please refer to the Employability Lab
- Master's Degree in Finance and Insurance
Programme code: 30414
Department: Metodi e modelli per l’economia, il territorio, la finanza
Duration: 2 years
Classe di Laurea: LM-16
Admission procedure: Requirements and personal knowledge assessment
The training contents of the Master’s degree in Finance and Insurance concern: the study, application and interpretation of mathematical and statistical models for the analysis and forecasting of financial markets and for the analysis of insurance and pension markets; the design and evaluation of innovative financial, insurance and pension products; knowledge of quantitative methods for measuring and controlling financial, insurance and social security risk; knowledge of the main regulatory and economic aspects of the financial and insurance markets; the use of high-level computational tools.
The Master’s degree program in Finance and Insurance provides graduates with quantitative methods and the main regulatory and economic aspects of the financial markets to carry out positions of responsibility in the financial and actuarial fields.
The course provides the required professional skills also with seminars and interviews held by academics and practitioners, as well as through suitable training internships at financial and insurance institutions, professional services, and consulting firms, both in Italy and abroad.
The Master’s degree in Finance and Insurance is divided into three curricula:
● Curriculum Finance (taught in Italian)
● Curriculum Insurance (taught in Italian)
● Curriculum Financial Risk and Data Analysis (taught in English)
- Finance Curriculum
The Finance Curriculum is a specialized program in quantitative finance. The training offer is geared towards the acquisition of specific quantitative, economic, and legal skills, which are essential for carrying out leading positions in finance.
The FINASS graduate - Finance Curriculum will have acquired knowledge of advanced mathematics, probability and statistics, mathematical finance and corporate finance, financial optimization, and econometrics, and will be able to put this knowledge into practice for the solution of concrete problems, managing to identify modeling most suitable theory and to apply the most suitable financial instruments for the type of problem that will be faced.
By means of high-level computational tools, he will also develop the ability to apply quantitative methods for the evaluation and management of complex financial products and financial risk, in accordance with the most recent national and international regulations.
The main professional figures formed by the Finance curriculum are:
• quantitative analyst;
• consultant and financial intermediary;
• financial portfolio manager;
• financial risk manager;
• support and integration to financial engineering activities;
• supervisory activities at financial institutions to monitor the credit system (Bank of Italy, BCE).
- Insurance Curriculum
The Insurance Curriculum is a specializing course in the insurance and actuarial framework. The training offer is geared towards the acquisition of specific quantitative, economic, and legal skills, which are essential for carrying out leading positions in insurance.
The FINASS graduate – Insurance Curriculum will have acquired knowledge of advanced mathematics and actuarial mathematics, probability and statistics, business and insurance finance, and risk theory and will be able to put this knowledge into practice for the solution of concrete problems, managing to identify the most suitable theoretical modeling for the study and analysis of the insurance and pension markets.
The graduate will also develop the ability to apply quantitative methods for the assessment and management of risk in the insurance framework, in accordance with the most recent national and international regulations.
The main professional figures formed by the Insurance curriculum are:
• actuary (access requirement for the State exam);
• insurance fund manager;
• actuarial risk manager;
• consulente assicurativo;
• supervisory activities at institutions that monitor the insurance system (IVASS).
- Financial Risk and Data Analysis Curriculum
The Curriculum in Financial Risk and Data Analysis, taught in English, is a specialized course for financial data analysis. The training offer is geared towards the acquisition of specific quantitative, economic, and legal skills that students will achieve at the end of their studies. These skills are essential to create highly specialized professionals in data analysis.
The FINASS graduate - Financial Risk and Data Analysis Curriculum will have acquired knowledge of mathematics, probability and statistics, financial time series analysis, financial optimization, and econometrics, and will be able to put this knowledge into practice for the solution of concrete problems, in collecting, organizing, and structuring data, to identify and verify the best solutions to make decisions.
Also using appropriate computational tools, the graduate will develop the ability to operate with data prediction methodologies, even in the multivariate framework to study and analyze dependencies. Finally, the graduate will be able to use the most appropriate quantitative methods and the most suitable econometric techniques for assessing and managing risk.
The main professional figures formed by the Financial Risk and Data Analysis curriculum are:
• data Analyst in private and public financial and insurance institutions, as well as in the industrial sector;
• business Analyst in private and public financial and insurance institutions, as well as in the industrial sector;
• risk manager in private and public financial and insurance institutions, as well as in the industrial sector.
- Further activities
The Master's Degree in Finance and Insurance provides for the provision of seminars and colloquia to complete students’ training. Seminars are held by highly qualified academics and practitioners, providing students with further knowledge that can be spent upon entering the job market.
- Enrollment and Scholarships
Admission requirements - Finance and insurance curricula
The Master's Degree in Finance and Insurance provides for an admission procedure with assessment of requisited and personal skills.
Graduates in one of the following degree classes are considered to already possess the curricular requirements:
• L-18 (according to Ministerial Decree 270/04) - Economics and business management sciences
• L-33 (ex D.M. 270/04) - Economics
For graduates from other classes, it is required to have at least 72 ECTS acquired in appropriate disciplinary sectors specified on this webpage.
Personal skills include at least B-2 level English, and a degree grade greater or equal than 90/110. The Degree Course Council will verify personal preparation. In the event of a negative outcome of the verification, registration is still allowed.
Students from Sapienza University of Rome or other Italian universities who have not yet obtained their degree may request the requirements’ verification. The deadline for obtaining the degree and for paying the bulletin are indicated in the Announcement for enrollment.
Single exams to achieve the requirements
Graduated and undergraduate students from Sapienza and other Italian universities who intend to enroll in a master's degree course under the D.M. 270/04 at Sapienza University of rome and who do not meet all the required curricular requirements, can enroll in single courses before enrolling in the master's degree, benefiting from a 75% reduction on the cost of each single course.
Admission requirements - Financial Risk and Data Analysis curriculum
Bachelor in Economics, Business Administration or other first cycle Degree with adequate academic background (overall 72 ECTS) in:
● Business, Economics, Mathematics and Statistics (minimum 54 ECTS or equivalent credit hours)
● Quantitative Analysis (e.g., Computer science, Programming, Econometrics, etc.)
Minumum GPA: 75/100
Minimum English Language Requirements:
The following test scores are accepted:
● IELTS Academic 6.5 or higher
● TOEFL IbT 80 or higher
● Cambridge B2 First or higher
● TOEIC Listening & Reading 730 or higher The above requirements may be waived for students holding a degree from an accredited institution where English is the main language of instruction.
Vademecum for enrolling students (I year, only Italian citizens)
- Part-time regime
The part-time regime allows students to agree on the duration of their studies with the University, according to students’ needs and effort.
The application for part-time regime is irrevocable, in that once the part-time regime has been chosen students cannot go back to full-time regime. The part-time and the full-time regimes provide for the same number of required exams, but a part-time student might obtain the credits within a different time.
The part-time regime cannot be guaranteed to students enrolled in:
● old-system courses;
● incomplete courses in accordance with Ministerial Decree 270/04 or the Ministerial Decree 509/09;
● distance learning courses in agreement with Consorzio Nettuno or Unitelma Sapienza.
- Chairperson Prof. Barbara Vantaggi
- Tutors Prof. Fabio Tardella, Prof. Maria Giuseppina Bruno
- Faculty teaching manager Setti Hermes
- Department (MEMOTEF) teaching manager Jori Gabriele
- FINASS Master's Degree Student Representatives: Valeria Avigliano, Paolo Razzi, Stefano Zingaretti
- FINASS students representing students in the MEMOTEF Department Council: Flavia Chiumento, Riccardo Fazi