RMA/Wharton Advanced Risk Management Program

Program Overview

As the volatility and interdependencies of markets increase, senior executives must make organizational risk management a high priority. The RMA/Wharton Advanced Risk Management Program gives banking executives analytical frameworks, strategies, and resources to better measure, manage, and monitor risk at their organizations.

You also will use tools for modeling risk analysis, critical thinking, and risk scenario planning, while applying your knowledge to current issues facing your organization through risk evaluations to give you an enterprise view of risk. In between the two program weeks, you will examine a new area of risk in your organization, reporting findings to the class.

Academic Director Richard Herring describes the curriculum of the RMA/Wharton Risk Management Program.

Program Experience

Program Highlights & Benefits

In the RMA/Wharton Advanced Risk Management Program, you will:

  • Network and interact with banking industry peers and renowned Wharton faculty
  • Use tools for modeling risk analysis, critical thinking, and risk scenario planning
  • Apply your knowledge to current issues facing your bank or financial institution through risk evaluations

Experience & Impact

Banker Maria Teresa Tejada on the program.

In today’s global economy, the environment for risk has become much more complex. The RMA/Wharton Advanced Risk Management Program introduces the latest thinking around risk, including macroeconomic drivers, and equips you with the tools to evaluate your exposure.

Wharton faculty — led by Richard Herring, PhD, the author of more than 150 articles, monographs, and books on various topics in financial regulation, international banking, and international finance — apply their field-based research and the latest strategic insights to help you broaden your view the major drivers of risk, with a framework for measuring and monitoring it. Unique to the RMA/Wharton program is the integration of academic analytics, which provide the professional bankers who participate in the program with a theoretical foundation, along with the insights of star practitioners, who show how these ideas can be implemented.

Session topics include:

Risk management as a strategic competitive strength:

  • Macroeconomic drivers of risk
  • Distinctive features of regulated financial intermediaries and how the regulatory environment has evolved since the 2007–09 crisis
  • The connection between corporate finance and managerial decision making and risk management
  • The study of systemic risk and the unique challenges of being a financial intermediary in today’s interconnected world

The analytical framework for measuring, managing, and monitoring risk:

  • Methods and issues in measuring risk exposure
  • Modeling challenges and practices
  • Scenario-based strategic planning
  • Unique risk characteristics presented by derivatives and real estate assets
  • Economic capital

The enterprise perspective, including culture, governance, and relationships with stakeholders:

  • Peripheral vision and critical decision making
  • Defining risk appetites
  • Communicating risk profiles to both internal and external stakeholders
  • Tension between economic capital and regulatory capital
  • Enterprise risk management

Through highly interactive lectures, exercises, and case studies, both in the classroom and in smaller work groups, this deep dive into risk will help you be a more capable enterprise risk management leader within your financial institution.

Who Should Attend

Participants are executives in banking and banking-related industries with several years of risk management experience, including:

  • Chief Risk Officers
  • Business-line Risk Managers
  • Enterprise-wide and Operational Risk Managers

Fluency in English, written and spoken, is required for participation in Wharton executive education programs unless otherwise indicated.


Richard Herring, PhDSee Faculty Bio

Academic Director

Jacob Safra Professor of International Banking; Professor of Finance, The Wharton School

Research Interests: International banking, international finance, money and banking


The participants were a good mix of people from different types of institutions — I also liked that the program was held over two separate weeks so you have an opportunity to get to know people and reflect on course content at home before coming back to the classroom. There were two types of lectures that were really outstanding — one was star academic lectures on topics such as global risk the first week and ethics and strategic thinking the second week. The Wharton faculty really knew their subject matter and had applicable experience as well as being really engaging lecturers who connected with the audience. The other standout lectures were by colleagues from different financial institutions. Two that stick in my mind were the CRO from one of the major Canadian banks, covering risk appetite, and a board director of a major international bank who shared insight on the expectations and perspectives from the board and board risk committee.

Since the financial crisis of 2007 and more recently Brexit in the UK, there is heightened uncertainty in how the economy might turn. Wharton’s program was very helpful in providing me with specific insights and an appreciation for common topics and current challenges in the industry, including how regulation works in different jurisdictions. Having that perspective means when I am talking to the chief executive or other directors in my organization, I’ve got a greater understanding of how a risk issue fits not only within our organization but also in a wider context.

This is a premium program that I would recommend to the right person at the right stage in their career. It’s not often you get that time to really engage with the wide range of risk management issues this program addresses. I would absolutely recommend it to senior colleagues who are thinking about how to lift their career up a step and contribute more strategic insights to their organization.”

James TebbothChief Credit Officer, Nationwide, UK

Dennis WinkelVice President, Scotiabank

I found the programme very challenging of accepted thinking and a good opportunity to learn about a broad range of risk disciplines as well as developing a network of fellow risk professionals from across the world.”

Group Compliance and Regulatory Risk Director, Lloyds TSB

The program developed by Wharton and RMA offers its participants the best and most advanced thinking about risk management in today's volatile and fast-paced financial environment. The program provides both quantitative and non-quantitative risk managers with a foundational refresher in risk management fundamentals that they then put to use in highly interactive sessions with Wharton faculty and outside Risk Management professionals who bring a wealth of knowledge to the seminars. The learnings from this program were immediately applicable back at the office. I highly recommend this program to any risk manager who is looking to take their skill and knowledge up to state of the art thinking on this topic.”

Head of Portfolio Reporting and Analytics, Morgan Stanley

With the cost of executive search fees reaching upwards of $300,000, effective retention tools represent a solid investment strategy. One of the most powerful tools for retaining top performers is to send them to the RMA/Wharton Advanced Risk Management Program. In fact, I’ve already sent 13 executives to the program."

This program gives me a tremendous development and retention tool. By sending our executives through the program, we’re making a commitment to our employees about their personal and professional development. It also delivers impressive ROI in terms of building depth and experience on our team. We have realized significant savings by staffing senior positions from within the company. It is a world-class program that balances the quantitative with the qualitative, the theoretical with the practical.”

Tom WhitfordExecutive vice president, PNC Financial Services

Dates, Cost, & Location

May 5 - 11, 2019Philadelphia, PA$28,000

June 23 - 29, 2019Philadelphia, PA

Download the program schedule, including session details.

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Logistics Information

This program consists of two non-consecutive sessions. Both sessions are required for completion.

Tuition for Philadelphia programs includes lodging and meals.

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Contact Us

For more information on The Risk Management Association, please contact Mark Zmiewski, Director, Strategic Learning and Research: +1.215.446.4085

Schedule a personalized consultation to discuss your professional goals.



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