Risk Management

Second-cycle studies
1.5 years, 3 semesters

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Build your international future with the Faculty of Management, University of Warsaw!

Thinking about studying in English? Choose a programme that opens global doors! At the Faculty of Management, University of Warsaw, you’ll gain practical knowledge, develop key business skills, and become part of an international community in the heart of Europe.

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What you will learn?

Master’s studies in Risk Management is a program for those who want to gain specialist knowledge and learn advanced tools necessary for work in modern financial and risk management departments in financial and non-financial institutions.

During the studies:

you will deepen your knowledge in finance, economics, accounting, and investments as sources for defining risk and financial management,
you will learn to analyze complex situations in organizations and develop solutions for effective risk management,
you will become familiar with advanced models and theories needed for effective definition and management of credit, operational, ESG, fraud, market, financial, and investment risks,
you will learn how to identify, analyze, and manage various types of risks in financial management practice,
you will understand the role of risk management in a financial institution and corporation as a key element of overseeing its operations.

Your skills

This program prepares you for work where the identification, analysis, and management of risk in the area of financial management is important. During the studies:

you will learn practical methods of risk assessment,
you will develop the ability to formulate hypotheses, conduct analyses, and draw conclusions useful in project, research, and advisory work,
you will master modern digital and communication tools that support data analysis, collaboration, and process management in risk and financial management,
you will learn to synthesize complex information and translate it into clear, professional reports and presentations tailored to the needs of various audiences – from teams to management,
you will develop competencies to work in expert teams – in departments of financial management, risk, credit analysis, capital adequacy, investments, treasury, internal audit,
you will gain leadership skills and the ability to manage project teams.

This program is for ambitious individuals who want to deepen their knowledge of integrated risk management in financial and non-financial institutions.

Strong points of the program

The program addresses current labor market needs.
You learn from lecturers who are practitioners professionally working in financial institutions and corporations.
You benefit from the latest knowledge – the program is based on international research results, trend analyses, and cooperation with business partners.
You work practically – on real case studies, using IT tools.
You co-create an environment that is constantly developing, open to innovation and business collaboration.
You acquire skills that prepare you for work in risk management, auditing, and consulting.
You prepare to obtain valued professional certificates, such as investment advisor, PRM, ORM, or CRMA.

Who should study Risk Management

For those who want to deepen their expert knowledge of risk and financial management in financial institutions, corporations, or consulting firms.
For individuals aiming to specialize in selected areas of financial and risk management.
For candidates aspiring to grow as professionals in both the financial and non-financial sectors.
For those planning to obtain recognized professional certifications such as Investment Advisor, PRM, ORM, or CRMA.
For people thinking about the future – looking for practical preparation for careers in finance departments, consulting, risk assessment, credit risk, capital adequacy, treasury, investment, and internal audit.
For candidates open to development and technology – ready to shape future practices in financial and risk management.
For graduates of various fields – who want to acquire knowledge within a clearly defined industry of financial and risk management.
For those seeking practical, specific, and career-oriented knowledge.

Career paths and opportunities after graduation

Master’s studies in Risk Management at the University of Warsaw’s Faculty of Management are the next step for those who want to grow in a key area of financial and risk management within financial institutions, corporations, and consulting firms.

Broad employment prospects in the continuously evolving financial sector, consulting firms, and corporations.
Risk management across various areas: market, financial, operational, credit, ESG, fraud, capital adequacy, treasury, investments, internal audit – graduates work in numerous institutions in Poland and abroad.
Expert and managerial positions – manager, team leader, credit analyst, expert, advisor.
Preparation for obtaining prestigious professional qualifications and certifications – such as PRM, ORM, or CRMA.
Opportunities for further development – postgraduate studies, MBA, or PhD, both in Poland and internationally.

Admission Rules

Qualification threshold: 25 points.

Applicants for the first year of second-cycle studies may apply if they hold a bachelor’s, master’s, engineer’s degree, or an equivalent qualification.

Candidates will take a written exam in the form of a single-choice test covering topics in economics, accounting, and finance.

The maximum number of points achievable on the exam is 50.

Exam literature:

Górski M., 2018, Rynkowy system finansowy, Warszawa: PWE

Iwanicz-Drozdowska, M., Jaworski W.L., Szelągowska A., Zawadzka Z., 2022, Bankowość – instytucje, operacje, zarządzanie. Poltex Warszawa

Jajuga K., Jajuga T., 2015, Inwestycje, Warszawa: PWN

Czekaj J., Rynki, instrumenty i instytucje finansowe, Wydawnictwo Naukowe PWN, 2017

Sopoćko A., 2020, Rynkowe instrumenty finansowe, Warszawa: PWN

Rutkowska J., 2022, Rachunek kosztów i rachunkowość zarządcza, Wydawnictwo Uniwersytetu Warszawskiego, Sekcja Wydawnicza Wydziału Zarządzania UW

Lew G., Maruszewska E., Szczypa P., 2023, Rachunkowość zarządcza od teorii do praktyki, CeDeWu, Warszawa

Rachunkowość finansowa z uwzględnieniem MSSF, red. J. Pfaff, Wydawnictwo Naukowe PWN, Warszawa 2023

Podstawy rachunkowości. Aspekty teoretyczne i praktyczne, red. B. Micherda, Wydawnictwo Naukowe PWN, Warszawa 2020

Ustawa z dnia 29 sierpnia 1997 r. Prawo bankowe, Dz. U. 1997 Nr 140 poz. 939

Ustawa z dnia 29 lipca 2005 r. O obrocie instrumentami finansowymi, Dz.U. 2005 nr 183 poz. 1538

Admission Rules for Candidates with a Foreign Diploma

The same rules apply as for candidates with a diploma obtained in Poland.

Assessment of the candidate’s competence to study in Polish

Language competence of candidates with foreign diplomas who do not have a document recognized by the University of Warsaw confirming proficiency in Polish (in accordance with the general requirements specified in the recruitment resolution) is verified during the exam referred to in point 1 letter a.

These competences are subject to a separate evaluation.

The maximum number of points possible to obtain in the language competence assessment: 5.

The number of points required to recognize language competence as sufficient to undertake studies in Polish: 3.

The score for the language competence assessment is not included in the final score.

Contact with the Recruitment Office

Office hours: Monday – Friday, 9:00 AM – 2:00 PM, room C206 (2nd floor), ul. Szturmowa 1/3, Warsaw; (during June–September: Monday – Friday, 8:00 AM – 3:00 PM);

Phone numbers:

22 55 34 100

22 55 34 190

Email: rekrutacja@wz.uw.edu.pl – for candidates from Poland
admissions@wz.uw.edu.pl – for international candidates

Recruitment Schedule for Studies in the 2025/2026 Academic Year

Registration in the IRK system: June 5, 2025 – July 22, 2025.
Payment of the recruitment fee: June 5, 2025 – July 23, 2025.
Announcement of results: August 1, 2025.
Submission of documents by qualified candidates: August 2, 5–6, 2025.
If there are any changes due to waiting list movements, additional two-day deadlines will be posted on the candidate’s individual account in the IRK system.

If the quota of places is not filled in the first recruitment round, a second round will be launched. Registration for the second round will begin on August 19, 2025.