Insegnamenti

Educational objectives

The course aims to provide students with:
- basic knowledge to understand the evolution of the financial systems in different countries;
- tools to analyse the financial systems across countries and to compare the role played in the development of economic systems;
- knowledge of all the components that characterize the operation of financial intermediaries upon different financial systems, distinguishing between different countries’ systems of regulation and supervision.
At the end of the course student will be able to perform comparative analysis of different financial systems in terms of business models, types of institutions, organization of capital markets. In particular
- Knowledge and understanding: at the end of the course students will have the knowledge base of the fundamentals elements for the effectiveness of financial system and its functioning in an international perspective;
- Applying knowledge and understanding: students will have the knowledge of and some skill in the way in which truth-finding and the development of theories and models take place in the relevant fields of international financial systems;
- Making judgements: students will have the knowledge of and some skill in the way in which decision-making takes place in the relevant fields, to improve any enhancement on the functioning of international financial systems;
- Communication skills: the student will acquire the ability to communicate, through the presentations of the working groups and the elaboration of an original work, expressing with language properties in the context of the evaluation of financial systems;
- Learning skills: students will have the knowledge of and some skill in the way financial systems can satisfy the issues coming from the economic units.

Educational objectives

The course aims to provide the knowledge and skills on the complex functioning of insurance company. In particular, the course aims to analyze the different phases of the insurance business, paying attempion on the risks, the related risk management principles and techniques and, at last, the ground rules for good governance as a complete system composed of functions and rules used by regulators.

- Knowledge and understanding

At the end of the course each student will acquire knowledge of the organizational aspects and of the legal requirements insurance intermediaries must comply with when pursuing their activity.

- Applying knowledge and understanding

Students will be able to apply the knowledge acquired to the search for appropriate solutions to the most frequent problems facing insurance undertakings.

- Making judgements

Students will acquire tools for critical assessment and autonomous judgment of the insurance management problems examined.

- Communication skills

Students will be able to interact and communicate, using appropriate technical terms, with every counterpart having extensive knowledge of insurance issues.

- Learning skills

Students will be able to acquire the necessary skills and knowledge to further study insurance and, more in general, financial mediation.

Educational objectives

Specifically, the student will know:
Understand theories on technological change and socio-institutional transformations and the evolution of long-term industrial enterprise (all elements that have a strong impact on the strategies and structures of the actors involved;
Apply the knowledge acquired within the structure of the governing and control bodies with reference to the different national regulatory provisions (Common Law / Civil Law);
Communicate and implement the skills acquired in the concrete analysis of business cases with particular reference to multinational companies;
To pursue and valorize, in an autonomous manner, in the course of one's professional life, the tools of analysis and comparison in order to have a critical attitude towards the variety and dynamics of the various structures of ownership and governance of companies and at the same time having the ability to design property and management structures that can contribute to the development of the company and its value.

Ultimately, in order to develop critical and judgmental skills and consequently make students able to solve, independently, managerial business problems, the course will refer to techniques and tools able to promote students' learning and knowledge. ; in this direction during the course some activities will take place, such as:
Exercises of a theoretical and practical nature on the issues dealt with during the course;
Presentation of business cases and related written reports, also with the support of external testimonials;
Business testimonials;
Group work consisting of project work presentations and discussion of papers

At the end of the course the student will be able to know and interpret in a critical way the different business models and their evolution in different fields. Therefore, the student will be able to contribute to the development of the company and to its value creation in coherence with the relevant national and international regulations.

Educational objectives

General objectives
 The Business Restructuring course (6 credits) provides learners with the necessary knowledge to be able to analyze and subsequently manage the restructuring processes of a business complex that is in a state of leaning towards decline or worse still a crisis overt.
Through the study of corporate restructuring and restructuring paths, also through the basic notions of a legal nature of the tools, they will be able to acquire the necessary knowledge for the management of pathological moments of corporate life.

Specific goals
Knowledge and understanding:
 The Business Restructuring course (6 credits) - will allow students to acquire the necessary notions to understand the different states of the possible business crisis, to be able to discern the different alternatives to their solution and to be able to identify which regulatory instrument is more adequate and subsequently design the strategic recovery path also in light of the recent innovations introduced with the need to prevent the state of crisis and the consequent tools.
In particular, the course allows the student, also through empirical analysis, to have the necessary tools to intercept and compose where possible the pathological state.

Application capabilities:

 The Business Restructuring course (6 credits) - supports students in the practical application of the concepts on corporate restructuring and reorganization techniques.
At the end of the course, students will be able to intercept the pathological state of the business complex and to identify a more appropriate strategy.

Critical and judgmental skills:

 The contents and methods of carrying out the course (6 cfu) allow the student to learn the reasons for a possible modification or restructuring of the company structure in its pathological moment, and to be able to set the path that best suits the pursuit of the objective by evaluating the result. In particular, the course aims to develop the ability to analyze and evaluate a possible restructuring and reorganization operation.

Communication skills:

 The Business Restructuring course (6 credits) - aim to strengthen oral exposure skills, with particular reference to transferring the information necessary for a transformation operation of the company structure and to outline the path and evaluate the results.

Learning ability:
 The course guarantees the acquisition of a high level of autonomy in the management of the study and one's own learning. This is made possible through the provision of didactic material, slides and application cases of the topics covered.

Educational objectives

At the end of the course the student will have knowledge and understanding of:
a) The role of corporate governance
b) Bank corporate governance: insights from research
c) Bank corporate governance: suggestions from practice
d) Risk taking and internal control systems
e) Compensation mechanisms
f) Relationship with capital markets
- Applying knowledge and understanding: the student will be able to analyze bank corporate
governance and collect documentation from publicly available sources (bank websites,
supervisory authority website, stock market website, specialized companies’ sites etc.).
- Making judgements: the student will be able to apply the concepts learned to evaluate
corporate governance of banks, the possible growth path, the management strategies and
identify possible deviations from best practice and possible areas of risk.

Educational objectives

The course aims to provide students with the basic knowledge and skills on the functioning of the control system and compliance processes.
In particular, the course aims to analyze the essential elements of the previous topics, namely: the compliance function and the coordination with the other control functions, the organization and tasks of the compliance function, the controls of the compliance function on specific areas.

A) Knowledge and understanding: students will acquire the basic knowledge in terms of internal controls and compliance and they will be able to understand the fundamental characteristics. Specifically, students will develop knowledge and skills in relation to the current legislation and specific compliance processes.

B) Applying knowledge and understanding:
students will be able to know how to apply the concepts learned to specific contexts and specific cases, in particular through operative seminars and analysis of innovative and modern cases.

C) Making judgements: The teaching methodology is based on the discussion of institutional documents (Bank of Italy, EBA) and scientific articles, in order to guarantee to students the opportunity to take autonomous judgment on the role and importance of the compliance function in intermediaries financial.

D) Communication skills: At the end of the course, students will be able to express the main topics with specific technical terms

E) Learning skills: students will be able to analyze specific issues concerning the internal control system.

Educational objectives

Knowledge and ability to understand / ability to apply knowledge and understanding:
At the end of the course the student will be able to:
• understand the main types of derivatives (forward/future, options, swaps, credit derivatives), the functioning of the related markets, the main option strategies, the pricing and the risk measure of them;
• calculate the MTM of the main derivatives, the main risk profiles, the capital requirement of the the option; apply static and dynamic hedging schemes in the typical activities of the Risk Manager.
Autonomy of judgment and communication skills:
At the end of the course the student will be able to manage the technical and operational complexity of the derivatives world, to determine the different "values", to illustrate to the interlocutors specialists of the financial sector the main technical-legal characteristics of the derivatives.

Educational objectives

To deepen the knowledge of Corporate Finance principles in a different economic and financial context: from the firm to the group of firms; from a domestic to the international market; from one interest rate to multiple interest rates controlled by several monetary authorities; from one currency to multiple currencies; from national price dynamics and national inflation to international prices dynamic and international inflation.
It is expected to develop the financial management and the Value Creation Theory (fundamentals have been considered within the Corporate Finance unit of undergraduate program) in a growth management perspective (it is faster for start-up firm) considered the larger international scale in which bank, insurance companies and enterprices work.
Students who have passed the exam will be able to apply the principles and models that allow you to appreciate the growth and internationalization strategies of multinational companies in the context of the economic value

Educational objectives

Knowledge and ability to understand / ability to apply knowledge and understanding:
At the end of the course the student will be able to:
• understand the main risks of financial intermediaries (credit, concentration, market, operational, liquidity), the measurement of them (sensitivity coefficients, VaR metrics, liquidity ratio, maturity ladder, etc.), regulatory framework on risk and capital; management of the non performing loans, the main credit risk mitigation schemes used in practice (funded and unfunded credit protection, securitization).
• Knowing the qualitative and quantitative capital structure, ICAAP-ILAAP process, the new European supervisory and regulatory architecture, the regulatory framework on bank’s recovery and resolution (BRRD), the main contents of the Recovery Plan;
• determine the measures of quantifiable risks (expected and unexpected loss), the processes for managing un-quantifiable risks; apply the prudential supervision rules to First Pillar risks; structuring the ICAAP, ILAAP, RAF processes; measure the VaR of the individual positions and of the entire portfolio.

Autonomy of judgment and communication skills:
At the end of the course the student will be able to manage the technical and operational complexity of the bank risk management process; to measure and manage the main types of risks; to illustrate the conceptual and regulatory frameworks regarding risk, capital and management of the banks in crisis to financial specialists.

Educational objectives

The course aims to provide the knowledge and skills on the complex functioning of insurance company. In particular, the course aims to analyze the different phases of the insurance business, paying attempion on the risks, the related risk management principles and techniques and, at last, the ground rules for good governance as a complete system composed of functions and rules used by regulators.

- Knowledge and understanding

At the end of the course each student will acquire knowledge of the organizational aspects and of the legal requirements insurance intermediaries must comply with when pursuing their activity.

- Applying knowledge and understanding

Students will be able to apply the knowledge acquired to the search for appropriate solutions to the most frequent problems facing insurance undertakings.

- Making judgements

Students will acquire tools for critical assessment and autonomous judgment of the insurance management problems examined.

- Communication skills

Students will be able to interact and communicate, using appropriate technical terms, with every counterpart having extensive knowledge of insurance issues.

- Learning skills

Students will be able to acquire the necessary skills and knowledge to further study insurance and, more in general, financial mediation.