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Overview
The Certificate programs each consist of four undergraduate finance courses representing approximately 180 contact hours between instructors and participants. Upon successful completion of the four-course sequence, a certificate signed by the Dean of the College of Business Administration will be awarded.
These programs should be of interest to persons currently employed at the middle management level in banks who wish to sharpen their industry knowledge i.e., branch managers, auditors, data processing people, management track personnel, individuals who sell services, and individuals who sell services, and individuals who (although not currently employed in banks) desire a career in banking. The programs have been designed by the Florida international University finance faculty in cooperation with several Florida banks.
These programs qualify for tuition reimbursement at many of the participating institutions. See your personnel officer of training director for additional information.
Program Goals
- To acquaint the participant with the functioning of the US and foreign money and capital markets and the institutions which these service these markets.
- To survey the commercial bank management studies and methods of operation. Emphasis is placed on the goals of the commercial banks and the methods of reaching these goals.
- To develop within the participant the ability to systemize the loan evaluation process such that a sound, rational credit- loan decision can be made. The programs emphasize money markets and corporate finance on the domestic and international levels.
Admission to the Certificate Programs
For undergraduates, an Associate on Arts (AA) degree or the equivalent of the first two years of University (or University parallel) work is required for admission to the programs. A working knowledge of financial accounting and statement construction also is a prerequisite. It can be met through either appropriate work experience, successfully passing qualifying examinations, or successfully completing Accounting 2021 (Accounting for Decisions), Economics 2013 (Principles of Macroeconomics) and Finance 3403 (Financial Management). A minimum GPA of 2.5 is required.
We encourage all certificate program participants to continue their education and obtain college degrees.
Students wishing to participate in more that one certificate program MAY NOT use the same course(s) to satisfy the requirements. When necessary, appropriate substitute courses will be designated by the program's coordinator.
Certificate in Banking
This certificate program of the finance department is designed to provide practicing bank managers with advanced training in their fields. If you're an undergraduate or graduate degree-seeking student or a working professional who meets admission requirements but does not want to pursue a degree, this one could be right for you.
To apply for admission to this program, you should complete an application form and submit it to: College of Business Administration, Department of Finance, Attention: Lili Sasso, Coordinator, University Park-RB 208, Miami, Florida 33199. You may obtain the application form by mailing your request to that address or by downloading the form. You should use the code CT 8206 in the application form.
If you have specific questions about the program, contact Lili Sasso either by phone 305-348-2680, Fax 305-348-4245, or e-mail sassol@fiu.edu.
The core program consists of four undergraduate finance courses.
- Financial Risk Management-Financial Engineering FIN 4486: A survey of financial instruments used for financial risk management, including forwards, futures, options, and swaps. Emphasis is on identification of financial risks and designing optimal risk management program. Prerequisites: FIN 3424 and FIN 4502.
- Financial Markets and Institutions FIN 4303: Financial markets and the role of financial intermediaries in these markets. Emphasis will be upon the objectives and policies of financial intermediaries within the constraints of law and regulatory authorities. Prerequisite: FIN 3403 or equivalent.
- Commercial Bank Management FIN 4324: The management of bank assets and liabilities; specialized banking functions; and the role of the commercial bank in financing business. Prerequisite: FIN 3403 or equivalent.
- Credit Analysis and Loan Evaluation FIN 4345: Topics to include: introduction to commercial lending; secured lending; accounts receivable financing and factoring; inventory financing; introduction to lending vehicles; short term lending; domestic taxation; consolidations; forecasting and intermediate term cash flow lending; term loan agreements/covenants; subordinations and guarantees; foreign exchange; international transactions and leasing. Prerequisite: FIN 3403 or equivalent.
- Global Private Banking FIN 4663:
Provides the students with an understanding of the nature of the global private banking, its role in preserving, augmenting and protecting wealth and how it is shaped by a sometime-controversial need for confidentiality.
Certificate in International Bank Management
This certificate program of the finance department is designed to provide practicing bank managers with advanced training in their fields. If you're an undergraduate or graduate degree-seeking student or a working professional who meets admission requirements but does not want to pursue a degree, this one could be right for you.
To apply for admission to this program, you should complete an application form and submit it to: College of Business Administration, Department of Finance, Attention: Lili Sasso, Coordinator, University Park-RB 208, Miami, Florida 33199. You may obtain the application form by mailing your request to that address or by downloading the form. You should use the code CT 8206 in the application form.
If you have specific questions about the program, contact Lili Sasso either by phone 305-348-2680, Fax 305-348-4245, or email sassol@fiu.edu.
This program will give you an understanding of the interrelationships between domestic and international banking. It consists of four of these five courses:
- Financial Risk Management-Financial Engineering FIN 4486: A survey of financial instruments used for financial risk management, including forwards, futures, options, and swaps. Emphasis is on identification of financial risks and designing optimal risk management program. Prerequisites: FIN 3424 and FIN 4502.
- International Financial Management FIN 4604: Operational analysis and financial decisions in the multinational context. Working capital management and intrafirm fund transfers. Measurement and evaluation of the risk of internationally diversified assets. Prerequisite: FIN 3403 or equivalent.
- International Banking FIN 4615: Introductory survey of issues that deal with international aspects of banking. The course provides an overview of the structure and operation of the international banking function, the services offered, supporting documentation, and measures to improve the efficiency and effectiveness of the international banking organization. The purpose of the course is to acquaint the students with the daily activities in international banking. Prerequisite: FIN 3403 or equivalent.
- Commercial Bank Management FIN 4324: The management of bank assets and liabilities; specialized banking, functions; and the role of the commercial bank in financing business. Prerequisite: FIN 3403 or equivalent.
- Credit Analysis and Loan Evaluation FIN 4345: Topics to include: introduction to commercial lending; secured lending; accounts receivable financing and factoring; inventory financing; introduction to lending vehicles; short term lending; domestic taxation; consolidations; forecasting and intermediate term cash flow lending; term loan agreements/covenants; subordinations and guarantees; foreign exchange; international transactions and leasing. Prerequisite: FIN 3403 or equivalent.
- Global Private Banking FIN 4663:
Provides the students with an understanding of the nature of the global private banking, its role in preserving, augmenting and protecting wealth and how it is shaped by a sometime-controversial need for confidentiality.
Macy's Certificate in Retail Management
On the street or on the web, retailing today employs one in every five American workers and creates 13 percent of all new jobs in the US If you're interested in this exciting sector, this program may be a good choice for you. You'll get specialized course work, internship opportunities, individual advising and skills development, and personal placement assistance. It's especially for you if you are a:
- Marketing or Management Information Systems (MIS) major considering a career in e-commerce;
- Marketing or Finance major interested in retail planning or buying;
- Marketing or Management major considering a career in store management;
- Student in any major planning to own/operate your own retail business.
You pay no fees for this program beyond regular tuition fees for the required course work.
The Macy's Certificate in Retail Management is sponsored by a grant from Macy's.
To earn the Macy's Certificate in Retail Management, you must successfully complete both course and experiential learning requirements. You must average a grade of "B" or better in all of the four business core courses and two retailing courses.
Business core courses
- Marketing Management MAR 3023: This course emphasizes the functions and institutions common to marketing systems.
- Organization and Management MAN 3025: This course analyzes organizations and their management processes, including planning, organizing, directing and controlling in the context of socio-technical systems.
- Financial Management FIN 3403: This course studies financial decision-making in corporate enterprises. Prerequisites include ACG 2021 and STA 2023
- Introduction to Information Systems CGS 3300: This course surveys major information issues and systems used in business and a variety of computer concepts and processes. Prerequisite: CGS 2060.
Retailing Courses
- Retail Marketing MAR 4231: This course examines the role of retailing in the marketing and distribution systems. It covers the fundamentals for successful retail management, including merchandising, pricing, stock-turns, and sales and stock planning. Prerequisite MAR 3023.
- Current Issues in Retailing MAR 4232: An intensive look at topics of current importance in retailing, from planning, buying and store management perspectives. Course emphasizes interaction with business executives and a practical learning approach. Prerequisite: MAR 4231.
Besides course work, you must attend four Friday half-day skills workshops, two each semester, and complete a retailing internship. We will help you secure the internship; most are paid.
Participation in this program, which begins each fall semester, is limited to twenty students. Application deadline is June 30. You must be enrolled in an undergraduate degree program in the College of Business Administration.
To receive an application packet, please contact the Marketing department. You may stop by RB 307, call 305 348-2571, TDD via FRS 1-800-955-8771, fax 305 348-3792, or e-mail retail@fiu.edu. You also may apply by downloading the application form and returning it to the program office.
Certificate in Entrepreneurship
This certificate program offered by the Pino Global Entrepreneurship Center is designed to offer business students the opportunity to complement their major field of study with an additional concentration in entrepreneurship. Students will take a coordinated series of courses and receive a certificate that signifies their knowledge in this area.
Students completing the Entrepreneurship Certificate will have coursework in venture financing, business plan development, marketing, and a variety of topics relating to entrepreneurship. With this background in addition to a major field, students can gain the knowledge and skills needed to assess new enterprise opportunities, obtain financial resources, market and start new ventures, and manage entrepreneurial ventures for growth and profitability.
To apply for admission to this program, you should complete an application form and submit it to:
FIU Pino Global Entrepreneurship Center
Attention: Colleen Post, Associate Director
University Park – 11110 SW 11th Street - VH 130
Miami, Florida 33199.
You may obtain the application form by mailing your request to that address or by downloading the form. You should use the code ENTU10CRT in the application form.
If you have specific questions about the program, contact Colleen Post either by phone 305-348-7156, Fax 305-348-0011, or e-mail postc@fiu.edu.
To obtain a certificate in entrepreneurship, students must complete six of the following courses (18 credit-hours):
- Entrepreneurship (or cross-listed course) GEB 4113
- Business Plan Development (or cross-listed course) GEB 4110
Plus four of the following courses (12 credit-hours):
- Accounting for Managers and Investors ACG 3024
- Entrepreneurs in the US AMH 4373
- Technology and American Society AMH 4375
- Introduction to Business GEB 2011
- Product Development and Innovation (or cross-listed course) GEB 4117
- Intuition in Management MAN 4142
- Small Business Management MAN 4802
- Family-Owned Businesses MAN 4864
- Marketing of Small Business MAR 4025
Certificate in Insurance & Risk Management
Overview
The Certificate program in insurance and risk management at Florida International University will be established in the Fall, 2007. The program is designed to provide students with an overall background in risk management, life and health insurer operations and products; property and casualty operations and products; financial planning; and employee benefits.
Risk management involves the financial and statistical analysis of risk and insurance-related problems that confront businesses and public sector managers. The increasing importance of employee benefits in overall compensation management requires individuals with education in group insurance, pension plans, and deferred-compensation arrangements. The growth in the number of firms providing personal financial planning has increased the demand for persons with education in the use of life insurance and related mechanisms in capital accumulation and estate conservation.
The program is designed to provide advance training for practicing individuals in the insurance and risk management field. It is also meant to advance career opportunities for students in this exciting and rewarding industry. Career opportunities include sales, underwriting, loss control, claims, and risk management. The certificate allows students to “fast-track” many training programs and to maintain a competitive advantage over other new hires.
Program Goals
- The student will gain a thorough understanding of both risk management and insurance theory and practice.
- The student will be exposed to the legal, actuarial, financial, and economic principles underlying corporate and public sector risk management, with specific applications to individual, business, and social problems.
- The student will understand the theory, functions, and strategies given the current and rapidly changing legal, regulatory, and economic environment in risk management and insurance.
Admission to the Certificate Programs
For undergraduates, an Associate of Arts (AA degree or the equivalent first two years of University or University parallel work is required for admission to the program. A working knowledge of financial accounting and statement construction is also a prerequisite that can be met through either appropriate work experience, successfully passing qualifying examinations. A minimal GPA of 2.5 is required.
Pre-requisite or co-requisite for this program
FIN 3403 Financial Management
A study of Financial Decision Making in the Corporate Form of Enterprise. An Analysis of the Sources and Uses of Funds. Emphasis is placed on Working Capital Management; Capital Budgeting Techniques; Short and Long Term Financing; and Capital Structure and the Value Of the Firm.
Course Requirements for the Insurance Program
The program consists of five core courses. To receive a certificate, a minimum grade of a C is required in each of the five courses and the prerequisite. If necessary, the Director of the Certificate Program can substitute an appropriate course.
1 RMI 3011 Principles of Risk & Insurance
Survey course providing foundational knowledge on the identification and management of personal and business risks, characteristics of insurance contracts, what constitutes an insurable risk and the vehicles available to accomplish this, and the basics of homeowners’, auto, life, health, employee benefit and retirement plans.
2 RMI 4200 Property and Liability Insurer Products
Analysis of more common basic insurance contracts, their use and coverage afforded as a fundamental basis for understanding legal, underwriting, marketing, financial, and other insurance functions.
3 FIN 4303 Financial Markets and Institutions
Financial markets and the role of financial intermediaries in these markets. Emphasis will be upon the objectives and policies of financial intermediaries within the constraint of law and regulatory authorities.
4 RMI 4405 Legal Aspects of Insurance
Insurance contracts and marketing; judicial doctrines of contract constructions, claims, processes, insurance, institutions, governmental regulation and sponsorship of insurance.
5 RMI 4305 Risk Management Case Studies
Application of the risk management process, including risk control and risk financing, to business risk management problems.
Or
FIN 4486 Financial Risk Management-Financial Engineering
A survey of financial instruments used for financial risk management, including forwards, futures, options, and swaps. Emphasis is on identification of financial risks and designing optimal risk management programs.
Pedagogical Enhancements
Students in the program will discuss relevant theory in Health Care, Long Term Disability, and Property & Casualty Insurance using well-recognized textbooks, cases and experiential learning (individual or team projects, exercises, game playing, research papers etc.).
Ground breaking Research by Faculty members
The state of Florida has $1.9 trillion in residential properties exposed to hurricane risk. The recent groundbreaking research work of Dr. Shahid Hamid, Professor of Finance at the CBA at Florida International University in Miami, has focused on the insurance and economic consequences of hurricanes. Currently, he leads a multi-disciplinary team in a research grant project to develop computer models to estimate hurricane risk and property losses. Creation of this public model was authorized in 2001 by the Legislature to be used as a check and balance against models used by private insurance companies to estimate and set hurricane insurance rates. The model also has some limited capability to estimate the benefit from certain mitigation efforts.
Drs. Krishnan Dandapani & Deanne Butchey continue to contribute to research in insurance, with a focus on risk mitigation pertinent to mobile homes.
Talk of the Town
Dr. David L. Bickelhaupt, Professor Emeritus, Fisher College of Business, The Ohio State University
"I strongly advise FIU to adopt the Certificate in Insurance and Risk Management Program that you have proposed. I believe that insurance and risk management is the most needed and exciting area of study in college today. It is already a valuable part of the offerings of most Finance Departments and is essential to any complete analysis of business operations. This program as defined will offer many excellent new career opportunities for students, as well as enhancement for promotion of persons who are currently performing functions related to insurance and risk management in businesses and non-profit organizations. I am 100% in favor of this addition to the FIU curriculum!"
Bernard Daenzer, noted insurance pioneer and innovator.
“There is a pressing need for Southeast USA, the Caribbean and the other Americas to catch up with the Northeast and Middle East coast in professional Risk Management”.
Dr. Ken Dauscher, Senior Vice-President at the American Institute for Chartered Property Casualty Underwriter (CPCU) and the Insurance Institute of America (AICPCU/IIA).
“In both organizational and personal risk management, the objectives are to identify and analyze the loss exposures, select and implement the appropriate risk management techniques, and monitor results and adjust as necessary. Where this process was once applied primarily to risks of loss, in the framework of enterprise risk management today it is being applied to all risks, those having the potential for gain as well as loss. Students will encounter risk in a variety of ways throughout their lives. Those who acquire a working knowledge of risk management and insurance will have a competitive edge in both their professional and personal lives.”
Bradley Stark, Lawyer and Adjunct Faculty in the Department of Finance
“Legal rights under a contract are at the foundation of most business decisions. Business relies upon insurance to hedge the potential for loss. All professionals need health, auto, homeowners, disability, life and malpractice insurance.”
Please return the completed application to:
Undergraduate Certificate Programs
Department of Finance, RB 208B
College of Business Administration
Florida International University
Miami, FL 33199
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