PROGRAM OVERVIEW 

The Master of Financial Management (MFM) degree is a specialized program designed to prepare individuals to excel in the financial services industry. The curriculum is designed to be immediately relevant in the workplace and is offered in a dynamic learning environment in which students bring their professional experiences to the classroom enhancing the academic curriculum and furthering the learning experiences of all.
 
The program consists of 33 to 36 credit hours of graduate study. Students with an academic or professional background related to financial management may be exempted from taking three credit hours of foundation courses. The remaining 33 hours consist of 24 hours of required courses and 9 hours of electives. Required courses can be categorized into two broad classifications: general business core courses and financial management core courses. Students will also choose 9 credit hours from a wide selection of electives. Electives provide the students the opportunity to increase knowledge in a specialized area of emphasis or develop a broad knowledge base. Students entering the program with the knowledge in the foundation course areas will be able to complete the program in as little as two years of part-time study.
 

PROGRAM DEVELOPMENT and ATTRIBUTES

The Drake MFM program is unique. No other program in the state provides this combination of specialized financial knowledge making the program well suited to professionals in the financial markets, insurance, banking and investment areas as well as more general business applications where an emphasis in financial management is required. During the MFM development process, feedback was sought from senior professionals within the financial services industry. Their feedback confirms that the MFM is well designed providing both broad based business knowledge and depth of knowledge within the field of finance. In particular, the option to pursue coursework that parallels the CFA examination was seen as an added strength to the program. 


LEARNING OUTCOMES

The College of Business and Public (CBPA) has identified learning outcomes for each of its graduate programs. The eight learning outcomes for the Master of Financial Management program are:

1.   Each student can recognize ethical issues in organizations and apply a framework for addressing them.

2.   Each student can identify and analyze current domestic and global macroeconomic trends and their impact on firms operating in the financial services industry.

3.   Each student can demonstrate an understanding of different markets for financial assets and demonstrate how to utilize the markets in the management of financial institutions.

4.   Each student can apply quantitative techniques and appropriate information technology to perform financial analysis and make strategic financial decisions.

5.   Each student can demonstrate the ability to prepare and deliver professional oral presentations and to research and write concise and documented business memoranda and technical reports.

6.   Each student can demonstrate the ability to interpret and report financial statement information in a manner consistent with maintaining its integrity and meeting current reporting standards.

7.   Each student can demonstrate knowledge of how financial assets can be used to manage risks faced by firms in the financial services industry.

8.   Each student can identify and understand the characteristics, roles and implications of effective leadership and corporate  governance.


DRAKE MFM CONNECTION TO THE CHARTERED FINANCIAL ANALYST (CFA) DESIGNATION

The three part CFA exam, which when passed entitles a person to become a “CFA Charterholder”, typically requires three years to complete. Topics tested relate to investment, accounting, economics, corporate finance, ethics, portfolio management, statistics, asset valuation and derivative securities Approximately 40% of the candidates sitting for the first level are between the ages of 25 to 30 and typically one in three pass the level 1 exam. The Drake MFM can be pursued using a strategy to support a student seeking the CFA designation. Assuming the learner (in consultation with an advisor) selects the appropriate mix of electives, he/she will have studied nearly all of the materials tested in the level 1 and 2 exams. Level 3 concentrates on applications of the basic tools emphasized in the first two exams, so again, students of the Drake MFM will be exposed to CFA tested materials. While there is no guarantee that 100 percent of the CFA exam content will be covered, by selecting the proper mix of electives, a person can secure good command of a large body of knowledge included in the three CFA exams.


MORE INFORMATION?

For more information about the Drake MFM Program, please contact Drake at (515) 271-2188 (toll free 1-800-44-DRAKE, ext. 2188), or by e-mail: cbpa.gradprograms@drake.edu