An Upper Level Master of the ESOMAS Department at the University of Torino

About the master

The Master in Finance, Insurance, and Risk Management (MaFIRM) prepares for a career in highly-skilled jobs in the financial industry. Graduates use their advanced quantitative finance and econometrics skills in asset management, banks, insurers, hedge funds, consulting firms and major corporations. Such skills also open up opportunities in institutions like central banks, regulators, sovereign wealth funds and sovereign organizations. The outstanding academic background provided by the program also allows graduate students fast-track access to PhD programs in finance.



Next deadline: March 10, 2024


  • A selected Faculty from leading universities, alongside the experience of finance and banking professionals.
  • Everyday contact with the scholars and researchers of Collegio Carlo Alberto and access to the scientific activities and events hosted at the Collegio.
  • Merit-based tuition waivers offered by our sponsors.
  • Career days and an outstanding network of our Alumni.
  • A New FinTech Sequence, alongside the traditional Quantitative Finance backbone.
  • The award of a second level Master in Finance, Insurance, and Risk Management degree from the University of Torino.
  • A fast track access to the PhD Programme in Finance.


DAVIDE ALFONSI Head of Risk Management, Intesa Sanpaolo
FABIO BAGLIANO Collegio Carlo Alberto, University of Torino and CeRP
BERNARDO BORTOLOTTI University of Torino and Director, Sovereign Investment Lab
PAOLO BRANDIMARTE Polytechnic University of Torino
MATTHIJS BREUGEM Collegio Carlo Alberto
MICHEL DACOROGNA Scientific Advisor at SCOR
ELSA FORNERO University of Torino and Director, CeRP
SILVERIO FORESI Goldman Sachs New York
PIETRO GARIBALDI Collegio Carlo Alberto, University of Torino
ELISA LUCIANO Collegio Carlo Alberto, University of Torino and LTI
ROBERTO MARFE' Collegio Carlo Alberto, University of Torino
PAOLO MONTIFERRARI Head of Risk Managment, Banca Patrimoni Sella & C
TOTI MUSUMECI  University of Torino
GIOVANNA NICODANO Collegio Carlo Alberto, University of Torino, CeRP, EGCI and Netspar
LUCA REGIS University of Torino and LTI
MARIA CRISTINA ROSSI (on leave) Collegio Carlo Alberto, University of Torino, CeRP and Netspar
GUIDO ANTONIO ROSSI University of Torino
GIORGIO SPRIANO Chief Risk Officer, Intesa Sanpaolo



Collegio Carlo Alberto was included by Inomics in the Top 20 Places to Do a Master

Listed in the worldwide ranking 2023 of the guide to World’s Leading Quantitative Finance Master Programmes

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2022 in the field of Financial Markets


With the support of

Educational Partners

Academic agreements


Turin is one of the main university towns in Italy, hosting both the Università degli Studi and the Politecnico and you will easily access everything that is normally needed for student life. 

You can easily move around using public transport or various bike, motorbike and car sharing services.

Turin is less chaotic than other Italian towns and it is considered a “green” city, thanks to its many parks. It is culturally attractive and vibrant thanks to its modern and interactive museums and other cultural institutions.

After considering the cost of your particular Master program and evaluating the possibility of receiving a scholarship or a loan, it is necessary to understand the economic commitment that living in Torino will bring.

An indication of costs.

  • Single room in shared apartment from € 250, all costs included
  • Studio from € 450, all costs included
  • Food € 250
  • Transport € 38 (monthly bus fare)
  • TOTAL monthly expenditure: starting from approx. € 600

Compared to other Italian cities

  • Milan    € 1.200,00
  • Rome   € 1.100,00
  • Bologna  € 900,00

After the enrollment the secretariat will provide you with some useful contacts to start house hunting in Torino.



Classes September 4 - November 3
Exam session November 6 - November 17

Common Track

Classes November 20 - January 19
Exam session January 22 - February 9
classes suspended
November 1, December 8
December 22 - January 5

Finance Track

Classes February 12 - April 12
Exam session April 15 - May 3
classes suspended
March 29-April 2, April 25, May 1

Insurance Track

Classes February 12 - April 12
Exam session April 15 - May 3
classes suspended
March 29 - April 2, April 25, May 1

Professional Courses

Classes May 6 - June 28
No exams  

Please note
: The calendar is subject to change