MBA in Financial Services Curriculum 1 Year, 45 Credits
The MBA in Financial Services is a comprehensive program that focuses on strategic planning and business administrations for managing financial services. The semesters combine academic study with real management initiatives, where students research, plan, and implement business initiatives. The program prepares students –with or without prior business study – to develop a career path in the financial services industry.
Dimensions | Purpose 1
Industry & Venture Assessment |
Purpose 2
Business Planning, Development & Marketing |
Purpose 3
Implementation, Actualization & Evaluation |
---|---|---|---|
Constructive Action | CA1: Strategic Industry Analysis | CA2: Strategic Planning | CA3: Strategic Management & Evaluation |
Values & Ethics | Financial Regulations | Fraud Analysis and Ethics | Behavioral Finance and International Practicum |
Self & Others | Financial Big Data Management | Financial Services Marketing | FinTech Project Management |
Systems | Business Financial Planning | Taxation and Compliance | Wealth Management |
Skills | Managerial Accounting | Managerial Economics | Managerial Finance |
Credits | 15 | 15 | 15 |
Foundation courses
Managerial Statistics | Principles of Management & Marketing | Principles of Financial Accounting | Principles of Economics & Finance |
Strategic Industry Analysis (MBA 615 PCA) (3 credits)
Students conduct a comprehensive strategic analysis of the industry of their proposed venture and the specific segments of that industry for their Constructive Action in financial services. They will acquire basic research techniques and methodologies necessary to explore and analyze business trends and needs; relate those needs to their respective proposed professional situations and then apply that knowledge to identify and decide upon a venture, which will satisfy an industry need, realize an opportunity, or solve an industry problem. It is expected that through this Constructive Action students will apply the resulting statistical data to decide upon the direction or the extent of their respective entrepreneurial and/or intrapreneurial ventures.
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Managerial Accounting (MBA 615 SKI) (3 credits)
Students create balance sheets and income statements and use relevant cost data for managerial decision-making. Topics include: accounting practices relating to asset valuation, profit determination, cost allocation and internal control procedures. Students learn to analyze cost data related to specific projects and to classify costs/expenditures as either product or period costs as well as techniques associated with cost/analysis reporting, decision-making, planning and budgeting. Students also have the option of learning the use of accounting software and tools such as QuickBooks and PeachTree.
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Financial Big Data Management (FIN 616 SEL) (3 credits)
The course covers the business process, methods, and tools for Big Data Analytics, harnessing the power of data for new insights, analyzing, visualizing, and presenting financial Data. The course focuses on concepts, principles, and practical applications that apply to financial services technology environment. This course enables students to deploy a structured lifecycle approach to data analytics problems; use appropriate analytic techniques and tools for analyzing big data, and develop proposals with data to drive business action. The course also prepares students for EMC Proven Professional Data Science certification.
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Financial Regulations (FIN 616 VAL) (3 credits)
The course introduces financial services regulation, its purpose, how it is created (especially in the EU and in the US), and it develops a framework for including regulations into the strategic planning of financial services. It also gives a rundown of the current financial services space–players and products–and its key regulations, and the features of regulatory systems.
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Business Financial Planning (FIN 616 SYS) (3 credits)
This course focuses on financial management practices, and students learn how and where to obtain the financial capital necessary to run and grow a venture. This course explores the most critical financial issues that entrepreneurs face, particularly the stages of financing, business cash flow models, and strategic positioning of the early-stage company. Students gain the knowledge to interact successfully with financial institutions and the regulatory agencies that are central to financing ventures as they grow and, ultimately, look for liquidity for their investors. This course is the first of three courses towards developing competencies for the CFP Certification.
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Strategic Planning (MBA 725 PCA) (3 credits)
Students apply knowledge obtained and the strategic industry assessment conducted for their Constructive Action (with a focus in financial services) in the prior semester to develop a comprehensive strategic business and marketing plan for their chosen venture. They will also learn that a well-written and exhaustive business plan is essential in determining the allocation of resources, obtaining them and successfully managing the resulting venture. Students will also plan and build a website that can be used in marketing or implementing elements of their venture.
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Managerial Economics (MBA 725 SKI) (3 credits)
Basic principles and techniques of micro and macroeconomic analysis applicable to business decisions. Topics include fundamental legal and practical considerations of financing packages; market structure; pricing and resource allocations; applications of managerial strategy and public policy with an emphasis on competition; market power and a business firm’s optimal response to government regulation.
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Financial Services Marketing (FIN 726 SEL) (3 credits)
The course offers both conceptual and practical guideline to marketing financial services. The course provides numerous international references, examples and case studies featuring companies such as American Express, Direct Line, Barclays, NatWest RBS, Aviva and HSBC. There is a focus on regulation which has international reach and addresses the post-Brexit world, with coverage of digital marketing at both the strategic and tactical levels. The course elaborates on how to improve a company’s trustworthiness and develop a customer-focused culture, with best practice from around the world in B2B and B2C marketing. The events associated with the financial crisis have highlighted that there is a need for banks and other financial institutions to understand how to rebuild trust and confidence, improve relationships, and derive value from the marketing process. This course will provide the latest thinking on how to manage such challenges.
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Fraud Analysis and Ethics (FIN 726 VAL) (3 credits)
This course explains fraud schemes used by employees, owners, managers, and executives to defraud their customers and illustrates each scheme with real-life case studies submitted to the ACFE (Association of Certified Fraud Examiners) by actual fraud examiners who aided in the case resolutions. Students focus on how to spot the “red flags” of fraud, how to comply with regulations including Sarbanes-Oxley, and how to develop and implement adequate preventative measures.
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Taxation and Compliance (FIN 726 SYS) (3 credits)
The course focuses on the role taxes play in business and investment decision and its implications. Students learn the fundamental principles for taxation rules, the framework of the tax system, the maximization of long-term wealth through cash flow enhancement, and how to manage taxes decisions. This course is the second of three courses towards developing competencies for the CFP Certification.
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Strategic Management and Evaluation (MBA 735 PCA) (3 credits)
In this course, students will begin implementing their planned entrepreneurial and/or intrapreneurial venture and set into motion their respective business plans, identifying sources of financing and evaluating their successes and failures. For this Constructive Action (with a focus in financial services), students will identify sources of financing and actualize business objectives by developing policies and allocating resources to implement their plans. They then will design key project metrics and indicators, monitor and evaluate the outcomes of implementation, further applying knowledge gained through practice by revising, adding, deleting or adjusting strategies as needed. By the end of the semester, students will also assess the extent to which they were successful with their respective venture goals, and draft recommendations for further action.
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Managerial Finance (MBA 735 SKI) (3 credits)
Overview of the effective management of financial resources. Topics include: analyzing fiscal data; budgeting; the construction of cash flow projections; financial statement analysis; taxation issues; internal and external reporting requirements; internal controls; the hiring and supervising of accounting staff and personnel; borrowing; basic risk and return concepts; security pricing and analysis; capital budgeting; the cost of capital; strategic planning and investment decisions.
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FinTech Project Management (FIN 736 SEL) (3 credits)
The course prepares students for the project management skills for handling technology innovation in the investment management sector. The evolving digital technology is enabling the creation of sophisticated software solutions that make money management more accessible and affordable. Full automation is attractive to investors at an early stage of wealth accumulation, but hybrid models are of interest to investors who control significant amounts of wealth, particularly those who have sufficient wealth for diversifying their holdings efficiently. Investors can now outperform their benchmarks easily using the latest tech tools. The course also prepares students for the PMP certification.
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Behavioral Finance (FIN 735 VAL) (3 credits)
Behavioral Finance is the study of how human behavior and social forces influence the decisions of individual investors and professional finance practitioners, managers, and markets. Topics include: psychological influences on financial regulation and policy; psychological concepts and biases; investors behavior; social influences. This course works in tandem with the International Practicum.
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International Practicum (FIN 735 INT) (course runs in tandem with 735 VAL courses)
The purpose of this course is to familiarize and understand the theories and practices of international business, along with the geographic, demographic, technological, political, economic and socio-cultural forces that impact cross-cultural business, and understand the influence of national/international media related to business management. Students will study the principles and problems that individuals, companies and institutions encounter in their business practices in a global environment. The course will illustrate the changing nature of alliances, industries and government intervention. We will introduce some of the business principles and concepts in the U.S., along with the different management styles of other countries, with particular emphasis on Germany, the United Kingdom, China and India.
In addition, to allow for development of global business vision, the School for Business arranges “International Colloquium” where senior businessperson, corporate executives from different parts of the world joins. Additionally, School for business also arranges visits to famous iconic organizations such as New York Stock Exchange, New York Federal Reserve, NASDAQ (National Association of Securities Dealers Automated Quotations), corporate houses, media offices, hospitals, IT organization. These real-life exposure components for international and national experience are built into the programmatic curriculum and included in the tuition that runs in tandem with this class. The final selection of the participants, venues for this real-life experience exposure is selected annually, and may change from year to year. Participation in these “International Colloquium” and study visits is mandatory, except for very limited exceptions that may be granted by the dean. Tuition rates are the published MCNY tuition rates regardless of whether students participate in the “International Colloquium” and study visits.
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Wealth Management (FIN 736 SYS) (3 credits)
The course teaches financial planning and how to develop an optimal asset allocation policy. In this course, students learn how to achieve financial security and stability by planning, preserving, and enhancing wealth. It enables students to define life goals and financial personality to build an effective wealth plan; navigate the investment options; clarify the need for and role of insurance, tax structures, pensions, and trusts; develop a wealth succession plan which matches client’s values and preferences. This course is the third of the three courses towards developing competencies for the CFP Certification.
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Managerial Statistics (MBA 501 FDN) (1.5 credits)
This foundation course introduces students to statistics useful for their MBA studies and for solving managerial problems. Students will learn a variety of techniques and tools to solicit, evaluate and communicate information for problem solving purposes. The course teaches the concepts and applications of business statistics, as well as providing the students the opportunity to observe and actually carry out computer-generated solutions using SPSS and Microsoft Excel.
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Principles of Management & Marketing (MBA 502 FDN) (1.5 credits)
This foundation course teaches management principles by weaving three threads: strategy, entrepreneurship and active leadership. Students will also be exposed to key concepts of marketing in today’s business environment such as service, sustainability, ethics and social responsibility, global coverage and metrics.
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Principles of Financial Accounting (MBA 503 FDN) (1.5 credits)
This foundation course teaches fundamental accounting procedures and the uses of accounting information. Topics include: recording transactions; controlling, costing and analyzing inventories; reporting and controlling liquid assets; measuring and reporting long-operating assets; current and contingent liabilities; the time value of money; analyzing and reporting owners’ equity; balance sheets and statements of cash flow; and managing and accounting for corporate income tax.
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Principles of Economics & Finance (MBA 504 FDN) (1.5 credits)
This foundation course helps students to understand the practicality and relevance of economics and finance with a variety of illustrations and insights. Economics topics include: classical vs. modern economic thought; supply and demand; elasticity; competition and monopoly; inflation and unemployment. Finance topics include: the Federal Reserve System; FOMC and the money market; interest rates; financial Structure; investment decisions.
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