SHFM is an innovative school with a clear strategy focused on providing world-class and high quality educational services.

  • International accreditation of training programs EPAS/EFMD)
  • Participation in governmental, industry-specific and fundamental research projects
  • A wide range of tertiary and supplementary education programs
  • State-recognized diplomas plus vocational certification in international associations and institutions
  • Association of Alumni “National Institute of Financial Executives”
  • Internships and training abroad (Belgium, Great Britain, Germany, Spain, China, Latvia, Lithuania)
SHFM foundation year
Programs with International Professional Certification (EPAS/EFMD)
Students and attendees studying every year
  • Undergraduate Programs

    38.03.02 Management. Financial Management

    • Sound vocational guidance: bachelors — financial managers
    • Employment guarantees and career monitoring
    • Opportunities to continue training under the SHFM Master’s Degree Programs on financial management, corporate finance or risk management
    • Participation in the dual diploma program together with the University of Portsmouth (Great Britain)
    • Proficiency in the English language (BEC, ICFE, IELTS, TOEFL)

    Mode of study: full-time, part-time.
    Cost: full-time - RUR 350 000 per year, part-time - RUR 190 000 per year

    Undergraduate Programs
    Undergraduate Programs
  • Graduate Programs

    38.04.02 Management.
    Corporate Financial Management

    One of the oldest Master’s Degree Programs in Russia. In 2014, the Program was the first in Russia to get the international professional certification EPAS/EFMD. The Program is noted for the outstanding research focus: based on the results of study, the graduates defend Master’s thesis in the form of a theoretical research or applied project.

    Modes of study: full-time, part-time, intra-extramural
    Duration: full-time – 2 years, part-time and extramural – 2 years and 5 months
    Cost: full-time – RUR 312 000 per year, part-time – RUR 242 000 per year, extramural – RUR 185 000 per year

    Graduate Programs
    Graduate Programs
  • Graduate Programs

    38.04.08 Finance and Credit
    Applied Corporate Finance

    The Program contains courses on management but is extremely strong in economics and finance. The second year of study is substantially identical to the training program for international investment analysts, and structured to meet the requirements of the Association of Certified International Investment Analysts (ACIIA). The students must pass the basic international exam and (optionally) the final exam to gain qualification of a Certified International Investment Analyst (CIIA).
    Modes of study: full-time, intra-extramural, extramural.

    Duration: full-time – 2 years, part-time and extramural – 2 years and 5 months.
    Cost: full-time and intra-extramural – RUR 310 000 per year, part-time – RUR 210 000 per year, extramural – RUR 185 000 per year.

    Graduate Programs
    Graduate Programs
  • Continuing Education Programs

    Executive MBA (ЕМВА)
    Two specializations: Strategic Finance and Capital Management

    The European level program offering exclusive options and foreign training modules in a “blinking” format convenient for top managers

    • Financially sound strategic decisions
    • Value growth algorithms
    • Mechanisms of sustainable development management
    • Efficient investment technologies
    • Evaluation of development prospects and growth potential
    Continuing Education Programs
    Continuing Education Programs
  • Continuing Education Programs

    МВА Finance

    Comprehensive training of world-class managers with in-depth study of corporate finance theory and practice.
    The only MBA Program in Russia that was twice awarded the international professional certification EPAS/EFMD

    • Professional competences meet the European standards
    • State-of-the-art knowledge help develop the skills of efficient management of large, medium and small businesses
    • Strategic and investment decisions are oriented towards the company’s value growth
    Continuing Education Programs
    Continuing Education Programs
  • Continuing Education Programs

    School of Financial Director

    Professional training and retraining of chief accountants, treasurers and CFOs of Russian companies

    • Mastering modern skills of financial management
    • Active training methods (trainings, business games, computer modeling, case studies)
    • Graduation paper: a real project for own company: financial diagnostics, transformation to the IFRS, appraisal and explanation of investment
    • Coaching and individual consulting
    Continuing Education Programs
    Continuing Education Programs
  • Continuing Education Programs

    Investment and Financial Analyst (CIIA/CFA)

    Training of world-class financial and investment analysts, including the preparation to international qualification exams

    International professional certification of the CIIA

    Based on training materials of the Institute of Certified Financial Analysts (CFA) and Association of Certified International Investment Analysts (ACIIA)

    Targeted preparation to and passing of the basic and final international qualification exams (centrally) in Russian

    Continuing Education Programs
    Continuing Education Programs
  • Continuing Education Programs

    International Financial Reporting Standards (IFRS)
    Development and presentation of financial reports. In-depth and comprehensive studying of the concept and technologies of preparation and presentation of financial reports in accordance with the International Financial Reporting Standards (IFRS)
    The program is targeted to financial managers capable of designing an IFRS-based financial management system in a company.

    • The longest and fullest author’s course in IFRS in Russia
    • International Certification in the British Institute of Certified Financial managers (ICFM)
    • International Financial Reporting Standards (IFRS)
    • The program is targeted to financial managers capable of designing an IFRS-based financial management system in a company
    Continuing Education Programs
    Continuing Education Programs
  • Continuing Education Programs

    Applied Corporate Finance

    Studying the theory and practice of corporate finance will assist the CEOs and managers in applying modern algorithms of financial and investment decisions, develop optimal interaction of companies with financial markets, and strengthen competitive positions.

    • Applied nature of the program — addressing specific challenges of real companies using the theory of corporate finance
    • Major training methods — case studies, workshops and trainings on corporate finance
    • “Blinking” mode of study is adapted to intensive work
    Continuing Education Programs
    Continuing Education Programs
  • Continuing Education Programs

    Preparation to and passing of the basic exam for the Bank of Russia qualification certificate of a financial market specialist

    Excellent theoretical training and generation of practical skills required for professional work on financial markets

    • Opportunities for professional and career advancement in a financial infrastructure company
    • Improving competitiveness on the labor market
    • It is possible to be a financial market specialist without a university diploma
    • The FMS certificate is issued for an indefinite term
    Continuing Education Programs
    Continuing Education Programs
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Dear Colleagues and Friends,

Dear intended bachelors and masters, potential attendees — CEOs and managers of companies, prospective postgraduate and doctoral students of RANEPA Higher School of Finance and Management! Whatever your interests – be it education, management, finance, etc., – we are united by the aspiration to consistently foster leaders of the future who possess, above all, a high sense of social responsibility.
SHFM is a part of RANEPA with its history, traditions, corporate culture and leadership in education, science and training of managerial human resources for Russia. This status enables us to implement various training programs: from the Bachelor’s and Master’s Degree programs to МВА, ЕМВА, DBA and Ph.D.
I am convinced that the moment you take a decision to study, you will daringly join our broad and diversified community named the SHFM. Moreover, I hope that you will make a major innovative and positive contribution to the further development of the SHFM. Actually, both I, and the faculty and administration of the department are greatly pleased to see the evolution of a new cohort of talented people who are to build the society of tomorrow.

Lobanova2 eng

HSFM benefits

Dynamism and innovative approach. The SHFM consistently improves the training process adapting to the needs of modern economy and applying innovative training methodologies.
Compliance with international standards of education quality. Diplomas and professional certificates issued by the SHFM guarantee the graduate’s quality of knowledge and competencies meeting the international standards.
МInternational cooperation. The SHFM has been engaged in long and successful collaboration with the leading universities in different countries. This allows implementation of dual diploma programs, sharing of advanced knowledge and unique experience with foreign colleagues, and cross-cultural exchange of students and attendees.
Promotion of science. The SHFM is widely known in the academic community by its world class theoretical and applied research in neoclassical finance and strategic financial management, which are viewed as fundamental factors of the training program quality.
Continuous education. The SHFM encourages the students and attendees to persistently upgrade professional knowledge and skills, consistently updating and improving the range of educational services and training programs.
Individual coaching. Studying the theoretical and practical material, as well as the preparation of graduation papers are based on the diagnostics and addressing of pressing challenges faced by Russian companies, which transforms the training process into individual coaching.
Elena Lobanova
Doctor of Economics, Professor

Phone number:+7 495 434-90-27
offices 301, 302, 303, building 5, 82-84, Vernadsky prospect, Moscow, 119571

Phone number:+7 495 434-90-27