Program Experience

Highlights and Key Outcomes

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

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.

Convince Your Supervisor

Here’s a justification letter you can edit and send to your supervisor to help you make the case for attending this Wharton program.

Due to our application review period, applications submitted after 12:00 p.m. ET on Friday for programs beginning the following Monday may not be processed in time to grant admission. Applicants will be contacted by a member of our Client Relations Team to discuss options for future programs and dates.

Who Should Attend

Participants are mid-level to senior executives in banking and banking-related industries with several years of experience, including:

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

Firms that have sent executives to this program in the past include:

  • BBVA Compass
  • Capital One
  • Chase
  • Discover Financial
  • First Republic
  • GE Capital
  • Morgan Stanley
  • TD Ameritrade
  • TD Bank
  • ScotiaBank
  • SunTrust

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

Plan your stay in Philadelphia

Plan Your Stay

This program is held at the Steinberg Conference Center located on the University of Pennsylvania campus in Philadelphia. Meals and accommodations are included in the program fees. Learn more about planning your stay at Wharton’s Philadelphia campus.

Group Enrollment

Banks sending four participants will receive a 10% discount on each enrollment. Please note that all four participants must register for the program at the same time. Please contact the Wharton Client Relations Team at +1.215.898.1776 or, for more details.



Richard Herring

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

Peter Conti-Brown

Peter Conti-Brown, PhDSee Faculty Bio

Class of 1965 Associate Professor of Financial Regulation, Associate Professor of Legal Studies & Business Ethics, The Wharton School

Research Interests: Central banking, financial history, financial regulation, fiscal crises, political history, public finance, the Federal Reserve

Mauro Guillen

Mauro Guillén, PhDSee Faculty Bio

William H. Wurster Professor of Multinational Management; Vice Dean, MBA Program for Executives, The Wharton School

Research Interests: Globalization, international political economy, multinational management

Ethan Mollick

Ethan Mollick, PhDSee Faculty Bio

Ralph J. Roberts Distinguished Faculty Scholar; Associate Professor of Management; Academic Director, Wharton Interactive, The Wharton School

Research Interests: Innovation, entrepreneurship, crowdfunding, games, AI

Todd Sinai

Todd Sinai, PhDSee Faculty Bio

David B. Ford Professor; Professor of Real Estate; Professor of Business Economics and Public Policy; Chairperson, Real Estate Department, The Wharton School

Research Interests: Commercial real estate and real estate investment trusts, real estate and public economics, risk and pricing in housing markets, taxation of real estate and capital gains

Robert Stine

Robert Stine, PhDSee Faculty Bio

Professor Emeritus of Statistics, The Wharton School

Research Interests: Credit scoring, model selection, pattern recognition and classification, forecasting


What initially attracted me to the program was the breadth of topics covered together with the opportunity to learn from the experiences of other banks, especially in North America.

Having completed the program, I could not recommend it more highly — it easily surpassed my expectations. The program content served not only as a timely reminder of core risk management fundamentals but was also rich with practical insights born out of the experiences of practitioners. The content was delivered by a superb mix of academic and C-suite executives which blended to create a wonderful learning experience in terms of how to apply what we were learning in practice.

Another impressive element of the program was the engagement within the class, which resulted in many insightful conversations which continued long after the allotted time of the session! The dialogue drew not only on the theory but also, and more importantly, on the hands-on, lived experience from participants. It was this “compare and contrast’ that really produced enormous value and insights.

If you are thinking about the Advanced Risk Management program, I would say you should have no hesitation. In my own case not only did I learn a lot but I have made very good friends and a network that I know will support me throughout my career. "

John Kelly Group Head of Risk Management, AIB (Ireland)

Antoine Avril Vice President and Chief Credit Officer, Desjardins Group

I was recommended to attend the RMA/Wharton Advanced Risk Management Program by Mr. Ed Schreiber. I met Ed when I was president and CEO of a small minority depository institution headquartered in Houston, Texas. My small community bank was undergoing an amazing transformation and he was assisting me in addressing my staffing and training challenges. At that time, he strongly suggested that I attend this RMA program because he believed it would round out my experience and provide me with the blueprint needed in leading a banking institution. And he was right!

This RMA program has provided me with all the tools and access to resources I need to be successful. The staff, academic directors, and the program team made me feel welcomed and valued. But more important, they facilitated a program that addressed risk in a very comprehensive and strategic way. And all the instructors were outstanding! I came into the program feeling a bit insecure and out of my league with my class of highly experienced and seasoned chief risk officers and managers from many of the top 10 banks from around the world — but ended with a new network of amazing colleagues that will be my lasting friends. The highlight of this program for me was preparing and delivering our Bridge Project. Our differences became our strengths. It was amazing!

As I embark on my new journey of creating a new de novo minority depository institution, I will use each risk model to guide how I manage my institution. This Advanced Risk Program is not limited to risk officers only. I highly recommend and strongly encourage bank executives leading small community and MDI banks attend this program. You will not be disappointed!"

Laurie Vignaud CEO, ViZ Bank

I head the team of credit adjudication and portfolio management at the National Bank of Canada. I took the RMA/Wharton Advanced Risk Management program to broaden my horizons. I had a strong credit background but not as much exposure to the entire suite of risks present in a large bank (operational, market, compliance, reputational, cyber, emerging risks, etc.)

The program was excellent. It was really about opening your eyes on different practices and angles, to give you a more holistic view of risks. The length of time and the intensity of the course were perfect for an executive. The assignments between the sessions, and the relationships you could create with people, were just stellar. The learnings were actionable and I had a ton of ideas about things that I could really apply or improve upon at my bank.

Another key takeaway was the quality of the faculty. I appreciated the mix of academia and real-life practitioners; it was the best of both worlds.

I particularly enjoyed Professor Dick Herring’s presentation about what happened in 2007-2008, which gave a general understanding of the mechanics of what can go wrong. That’s what we have applied in our team to think about detecting patterns in our own bank. There can be “unknown unknowns,” questions I did not even know to ask. The program made me better at asking the right questions.

The course gave me many industry contacts. It was a very diverse group geographically, in the types of risk in which people operate, and the types of financial institutions. This yielded really unique perspectives. The way you interact with the other participants, and the questions that they ask in class—especially deep domain experts in a certain risk that you’re not absolutely familiar with—to academia members who are also deep experts in that risk, brings you an exponential level of learning.

I would give the program a ten out of ten. It was above expectations.”

Jean-Sébastien Grisé Vice President, Credit Risk, Commercial, Retail and Wealth Management, National Bank of Canada, Montreal, Canada

I enrolled in the RMA/Wharton Advanced Risk Management Program hoping to broaden and deepen my perspectives on the practice of risk management. I’d developed my career in a singular risk discipline and wanted to have some insights on the other risk types. The program was a great overall experience. The quality of the instruction was first-class and the facilities are outstanding.

Some highlights for me were working with Professor Bob Stine, who simplified some pretty complex issues around model development, model risk, the statistics of risk management, and thinking about how we can employ those ideas in our businesses. Coming from my background that was still a new science for me, so it was great to get that perspective. I also enjoyed hearing from Professor Mauro Guillen on global macro trends. That was a great presentation with important insights about looking beyond today and thinking about emerging risks and evolving trends.

The program elevated the practice of risk management in a way that I think positions me to help my organization deal with new challenges in the financial services industry. I can better serve my company’s stakeholders as we deal with the pace of change.

I really appreciated the opportunity to engage with the other professionals. I’ve been to other seminars and discussions, but at Wharton we had a really candid and open group, all willing to share ideas and concerns. I think those relationships are of incalculable value over and above the education. For me it was one of the great takeaways from the experience.

I would recommend the program highly. I definitely see an opportunity to identify the right kind of talent within our risk management organization and sponsor them into the program for the lessons that they could learn, contacts they could make in the industry, and to help them understand the broader practice of risk management.”

Eric Ensmann Director of Enterprise Risk Management, BBVA Compass

As head of operational risk management for a U.S. bank, I’m responsible for making sure that our bank has implemented our operational risk management framework. We work with all of our respective business lines to make sure that they understand their key processes, risks, and controls, and that key controls are designed and operating effectively.

The RMA/Wharton Advanced Risk Management Program broadened my knowledge beyond just operational risk. The course includes all the different risk disciplines, from operational risk, retail and commercial credit risk to market and liquidity risks. It was a great curriculum, and the Wharton faculty and the presenters were exceptional. I particularly enjoyed the enterprise risk management section. Also, the fact that this program brings in industry leaders is a big benefit. It’s not a 100% academic; we’re actually getting real perspectives from different business leaders coming in.

The professors had great presentation styles. Even in an intensive program where it’s hard to sit still all day, I never found myself looking at my watch, because I was so engaged. The whole class was very engaged as well. The expertise of my classmates as well as the presenters made for an overall wonderful experience.

Another benefit is the contacts that you make in the program. These are people I can reach out to now because we’ve built that relationship. I can say, I’m dealing with this type of issue; how have you dealt with it at your institution?

What I really took away from the course is that operational risk is embedded in all the different disciplines that we talked about. So whether we’re talking about market risk, commercial credit, retail credit, third party, whatever it may be, it was all relevant to me. Having a better understanding of those areas allows me to be a better operational risk professional. I can now better interact with those areas at my own institution.

I also appreciated the facilities and the amenities of the program, and enjoyed the vibe of being on Wharton’s campus in May when school was still in session. I would recommend the program 100 percent. I thought it was fantastic!”

Christopher Nestore Head of Operational Risk Management, TD Bank

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 Tebboth Chief Credit Officer, Nationwide, UK

Dennis Winkel Chief Risk Officer, Exchange Bank of Canada

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 Whitford Executive vice president, PNC Financial Services

Date, Location, & Fees

If you are unable to access the application form, please email Client Relations at

May 5 – 10, 2024Philadelphia, PAandJune 9 – 14, 2024Philadelphia, PA$29,995

Download the program schedule, including session details and format.

Download Schedule

Hotel Information

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

Fees for the on-campus program include accommodations and meals. Prices are subject to change.

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