The Macquarie University Applied Finance Centre (MAFC) is the first University in the Asian region to have a Degree accredited by the Professional Risk Managers’ International Association (PRMIA) - a leader in risk management education. The MAFC curriculum complements the PRMIA curriculum by looking at issues in greater detail. The MAppFin provides excellent preparation for those intending to obtain Professional Risk Manager (PRM) Certification.

Students completing appropriate units in the MAppFin program will be eligible for exemption from PRM exams I and II. All students will still be required to pass exams III and IV in the PRM program. The PRM Certification is the global standard for the world’s top financial risk professionals. Endorsed by leading businesses and graduate programs, it counts candidates from more countries than any other program for risk managers. You can choose to take the complete PRM exam in one sitting or in four separate modules, which can be taken in any order over a period of up to two years.

  • Exam I: Finance Theory, Financial Instruments and Markets.
  • Exam II: Mathematical Foundations of Risk Measurement.
  • Exam III: Risk Management Practices (market, credit and operational risks).
  • Exam IV: Case Studies, PRMIA Standards of Best Practice, Conduct and Ethics, Bylaws.

Accreditation by PRMIA is recognition that the MAppFin Program covers at least 70% of the PRM syllabus and that our program prepares candidates for careers as professional risk managers.

For the PRM Certification and exemption from PRM exams, you will need to study five core units and the electives listed below.

Suggested program

5 core units: Elective units:

Other elective units that have a risk management component or overlap with the PRM syllabus include:

  • Applied Portfolio Management
  • Corporate Treasury Management
  • Equity Capital Markets
  • Credit and Lending Decisions
  • Ethical Risk in Finance
  • Hedge Funds
  • Risk and Portfolio Construction

Contact for information on how to apply for exemption.

"PRMIA and Macquarie Applied Finance Centre share a common commitment to provide first-class education in risk management – arguably the most crucial issue in finance today."

—  Associate Professor Elizabeth Sheedy
Co-editor of the Professional Risk Managers Handbook, and Faculty member with Macquarie University Applied Finance Centre

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