Risk Management And Insurance

Level of programme: 
Bachelor’s degree programme
Qualification awarded: 
Financial analyst
Level of qualification:
On successful graduation of the programme, the graduates obtain Professional Bachelor’s Diploma and the qualification: “Finance Analyst” which corresponds to the 5th professional qualification level and it corresponds to the level 6 of the Latvian Qualification Framework (LGF) and European Qualification Framework level 6.
Specific admission requirements:
Immatriculation, that is the enrolment in the study programme is organized according to the Enrollment Regulations of the School, which are being endorsed by the Senate for each coming academic year.
Specific arrangements for recognition of prior learning:
For recognition of non- formal and informal learning there is a legal framework to promote and implement lifelong learning. On January 10, 2012, the Cabinet of Ministers issued “Rules of Procedure for Recognition of Learning outcomes in Prior Learning or professional experience”, Number 36. The procedural documents have been developed by the School and endorsed by the Senate. Lifelong learning activities have been designed to facilitate LLL. Programmes are designed with Learning outcomes which ensures transparency and comparability. ECTS is applied to lifelong learning. General arrangement for the recognition of non- formal and informal learning are explained in the Rules of Procedure for the Recognition of Prior Learning which were endorsed by the Senate in 2012. The document explains the process, the criteria and the recognition.
Qualification requirements and regulations:
In order to obtain the professional Bachelor’s degree and qualification, the student has to fulfil the following programme requirements:
  • To acquire general and course specific course learning outcomes
  • To acquire optional course learning outcomes
  • Has to do a company placement
  • Has to prepare and defend the Bachelor’s paper
Profile of the programme:
Goal of the programme is to ensure acquisition of both: theoretical knowledge and practical training, corresponding to the demands for the qualification of finance analyst and provide training of specialists with profound knowledge in risk management and insurance, competitive in local and international labour markets. The students study under the guidance of experienced and professional academic staff and acquire 240 ECTS (160 Latvian credits). The students have international study environment. The students are eligible to study under Erasmus exchange programme. They have also the opportunity to study with international academic staff from partner universities.
Key learning outcomes:
The graduates of the study programme Risk Management and Insurance:
  1. have the ability to understand the tendencies and regularities in the field of economy, finances and insurance, to be competent in the processes of the national economy and finances, and be able to explain them, to argue, and adopt decisions according the changes in the situation;
  2. understand and be able to analyse interconnections featured in the financial accounting and management accounting reports, can evaluate the efficiency of use of financial resources and the financial state of a company in general, can manage financial risks and elaborate proposals for their diversification, minimising, or prevention;
  3. can estimate the profits and risks of financial investments, can prepare investment projects, can make the company’s financial plans and budget, can forecast the financial result of the economic activities of the company;
Occupational profiles of graduates with examples:
Graduates are competent to work in banks and insurance companies, public and local government institutions, as well as in private companies as finance analysts, assistants in actuary field and financiers.
Access to further studies:
The graduates of professional Bacelor’s degree are eligible for further studies at Master’s degree programmes.
Course structure diagram with credits: 
No. Course CP Type of examination Planning
1st year 2nd year 3rd year 4th year
1st semester 2nd semester 3rd semester 4th semester 5th semester

 

6th semester

 

 7th semester 8th semester
General study courses
1 Business English 4 Examination 2 2
2 Mathematics 6 Examination 4 2
3 Applied Communication 2 Examination 2
4 Law 4 Examination 2 2
5 Environmental, Civil Defence and Work Safety Organizations 2 Examination 2
6

Research Work Methodology

 

 

 

 2 Examination 2
Specialized study courses and courses in information technology
7 Economics 6 Examination 2 4
8 Introduction into Finance 2 Examination 2
9

Financial Mathematics

Statistics

 4 Examination 4
10 4 Examination 4
11 Demography 2 Examination 2
12 Organization of Business 6 Examination, Defence of Business Plan 6
13 Probability Theory 2 Examination 2
14 Management Basics 2 Examination 2
15 Strategic Management 2 Examination 2
16

English for Specific Purposes

 

 

 

 6 Examination 2 2 2
FIELD RELATED PROFESSIONAL SPECIALISATION STUDY COURSES
17 Fundamentals of Risk Management 2 Examination 2
18 International Finance 2 Examination 2
19 Informatics and data analysis 4 Examination 4
20 Accounting Basics 2 Examination 2
21 Introduction to Financial Accounting 2 Examination 2
22 Regulation of the Insurance Industry 2 Examination 2
23 Tax Policy 4 Examination 4
24 Insurance 4 Examination 2 2
25 Marketing and Sales of Insurance Services 2 Examination 2
26 Course Paper 2 Defence 2
27 Audit 2 Examination 2
28 Financial Analysis and Forecasting 4 Examination 2 2
29 Banking Financial Services 2 Examination 2
30 Project Management and Finances 2 Examination 2
31 Reinsurance 2 Examination 2
32 Applied Research 2 Defence 2
33 Types of Insurance 2 Examination 2
34 Financial Management 6 Examination 6
35 Actuarial Mathematics 4 Examination 4
36 Risks of Banking 2 Examination 2
37 Securities and Investment funds 4 Examination 4
38 Mathematical Risk Analysis 2 Examination 2
Elective courses
39 Elective courses * 6 Examination 2 2 2
Work placement and state examination
40 Work placement 26 Defence 8 8 2 8
41 Bachelor’s thesis 12 Defence 12
Examination regulations, assessment and grading:
The assessment of students is in accordance with the requirements of “Study Ordinance”.
Graduation requirements:
Defence of Bachelor’s paper and acquired 240 ECTS.
Mode of study: 
Full time studies take place every day for Day department. Two working days in the evenings and every Saturday for Evening Department. For extra mural students the lectures are held every Saturday.
Programme director or equivalent: 
Māris Krastiņš, E-mail: maris.krastins@ba.lv