The Master's program in Money, Banking, Finance, and Insurance (MBFA) aims to provide students in their first year (M1) with a thorough understanding of the fundamentals of insurance, banking, and finance. To this end, they are offered a diverse range of courses, organized around complementary knowledge in the disciplines that define the specific nature of this program. Emphasis is placed on acquiring methodologies and developing a financial literacy that enables students to apply analytical tools to the realities of banking and financial practice.

From the start of the first year of the MBFA Master's program, two typical pathways are offered to students:

• the course Expert Client Advisor (apprenticeships and continuing education)
• and the route Generalist jobs in banking, finance, and insurance (initial training).

Furthermore, the curriculum is structured to guarantee students a minimum foundation of transferable knowledge and skills: IT, languages, knowledge of the economic and financial world, and the development for each student of a portfolio of knowledge, skills, and interpersonal abilities to leverage for optimal professional integration upon completion of the Master's program. Courses are largely shared between the two tracks of the first year of the Master's program. To allow students enrolled in the initial training program to benefit from a substantial period of practical training in a company (most of whom have never completed an internship before entering the first year of the Master's program), their courses are concentrated between August of year N and February of year N+1, and the mandatory internship takes place from March to August of year N+1.

The second year of the Master's program (M2) emphasizes the combined acquisition of solid commercial and technical skills. The aim is to provide financial institutions with recent graduates (five years of higher education) who possess a strong financial background and are capable of quickly assuming commercial or managerial responsibilities. Job-readiness is ensured through the curriculum and teaching methods, which are designed to train highly skilled generalists who can adapt to changes in the sector while also providing them with strong specialization in specific areas based on the needs of the profession.

The MBFA Master's program thus offers two possible tracks in the second year of the Master's program:

• the course Professional and Very Small Business (CCPRO & TPE) Customer Advisor (apprenticeships and continuing education)
• and the route Wealth Management Client Advisor (CCPAT) (apprenticeships and continuing education)

Both programs offer students a common foundation of general skills in client portfolio management and development, financial expertise, portfolio development, and financial advisory services. Each program then provides its own specific set of specialized skills, designed to make students immediately operational and employable in their chosen fields upon graduation. Both tracks accept all students who have successfully completed the first year of the Master's program (M1) offered as a work-study program. Students graduating from the initial M1 program can, if they negotiate a professional training contract between the M1 and M2 years, enroll in either of the two M2 programs as work-study students. In the M2 program, courses are largely shared between the two tracks.

Educational goals :

The MBFA Master's program is professionally oriented and aims for direct and rapid entry into the workforce upon completion of the program. Students enrolled in MBFA are trained for skilled careers in banking, finance, and insurance. The program's objective is to enable students to develop expertise in the fields of money, banking, finance, and insurance by offering them both theoretical and applied perspectives across a wide range of subjects within the curriculum.

On the one hand, the MBFA curriculum consists of both theoretical courses covering the latest research in the field and practical training in the technical, commercial, and interpersonal skills required for retail banking. Students thus benefit from academic contributions from research professors, supplemented by input from professionals who are expert practitioners in the relevant field.

Furthermore, the substantial number of apprenticeship and professional training contracts offered by the island's financial institutions to students in the MBFA Master's program demonstrates the local need for recruitment at the Master's level (Bac+5). This need is met through actual recruitment upon graduation. Indeed, with a near 100% graduation rate, graduates enjoy excellent job placement upon completion of the program.

Training opportunities:

The MBFA Master's program has been defined and implemented since 2005 through a close partnership between the Faculty of Law and Economics (UFR DE) at the University of Reunion Island and the management of financial companies (banks, specialized credit institutions, and insurance companies) located in Reunion Island. This partnership aims to achieve a 100% job placement rate for graduates. The MBFA Master's program is designed to meet the needs of institutions seeking graduates with a Master's degree (Bac+5) capable of performing typical banking and insurance-related tasks, as well as providing support functions in retail banking; to enable both junior and experienced professionals to understand and master these activities; and to offer future graduates training that meets the needs of the region and facilitates rapid professional integration into the financial and insurance sectors.

For the 2026-2029 training program, the new presidential team of the University of Reunion has chosen to develop its institutional strategy by focusing in particular on developing a training program that promotes the success of all students and is adapted to its territory, and on strengthening the strategic positioning of the institution in its regional, national and international environment.

In direct collaboration with financial institutions on Réunion Island, the MBFA Master's program is a training program tailored to the needs of its region and actively contributes to the success and professional integration of its graduates. Both the creation of the MBFA Master's program in 2005 and the enrichment of its curriculum over the years respond to a demand explicitly expressed by the region (from individuals seeking training as well as from institutions looking to recruit graduates with a Master's degree (Bac+5) in the banking, finance, and insurance sector). Specifically, it was at the request of the financial institutions that partnered with the MBFA Master's program, which was offered as initial training until 2009, that the second year of the MBFA Master's program was developed. Professional and Very Small Business (CCPRO & TPE) Customer Advisor A program training business managers specializing in serving tradespeople, retailers, professionals, and very small businesses was created and launched in the fall of 2010, offering both work-study and continuing education options. Also launched in September 2017 was the M1 MBFA program, designed to meet the needs of local businesses for a two-year work-study program. Offered through both work-study and continuing education, the program... Wealth Management Client Advisor (CCPAT) Created in 2020, this program also arose from the need expressed by institutions to recruit private bankers working in branches for high-net-worth individuals. Furthermore, the annual advisory boards, which include teaching staff, student representatives, and representatives from banking, financial, and insurance companies, ensure that the MBFA Master's program remains aligned with the sector's needs (training program, duration and timing of internships for initial training, work-study schedules for continuing education, etc.).

The main advantages:

• A work-study program at the university: taught by academics and top-level professionals in the banking, finance, and insurance sector. The MBFA Master's program relies on a strong teaching team comprised of academics and professionals who work in retail banking and actively contribute to the professionalization of the Master's program. These professionals are key figures within their respective institutions: Regional Directors, Sales Directors, Marketing and Multichannel Directors, Sector Directors, Online Branch Managers, Branch Managers, etc. When a course with a directly professional focus becomes available within the program, the offer is communicated to all financial institutions in the market, which then pass it on internally to their top performers, the guarantors of the brand image they project externally for their respective institutions.
• Company-based training (supervised by university and professional tutors): in both M1 and M2; – Professional development modules included in the curriculum: seminars on "development for professional integration", digital culture, English, writing and defense of professional reports…;
• Several certifications are possible at the end of the training: the national Master's degree, but also the certification from the Financial Markets Authority (AMF), the certification relating to digital skills (PIX), a certification in English and a certification in spelling;
• Continuous improvement of training programs: In addition to the annual survey conducted by the institution's Directorate of Guidance, Training for Professional Integration and Entrepreneurship (DOFIPE), the MBFA Master's program regularly conducts a supplementary study, also via survey (online questionnaire), to monitor graduates and their professional integration. This study focuses on the time taken to obtain their first job, the nature of that job, and their current situation. This investigative work also leads us to collect graduates' feedback ("after the fact") on the resources that were made available for the training (room adaptation, adaptation of teaching materials), the pedagogy (course content, trainers' performances), the stakeholders (trainers, training managers, the class group), the organization (course duration, break length, phasing between university classes and time spent in the workplace, support mechanisms, time for personal reflection, etc.), the time spent in the workplace (duration, assigned tasks, material conditions, teaching quality of the professional tutor, their suggestions for improving the training program). Graduates are thus invited to check the box that best corresponds to their opinion, from 1 (least favorable: non-existent, not at all suitable) to 4 (most favorable: very good, perfectly suited, etc.). This feedback, also expected within the framework of the QUALIOPI label we hold, is used and allows for the continuous improvement of the training;
• Very good graduation rates and job placement rates.

Total hours worked: 854 hours

• M1: 434 hours
• M2: 420 hours

The course lasts two years (one year of M1 and one year of M2).

The MBFA Master's program structure includes all the skills blocks referenced in the national RNCP (National Directory of Professional Certifications) document. In 2024, the titles of some blocks were revised by France Compétences (changes in form, not substance). The MBFA Master's program structure will incorporate all of these modifications within the framework of the 2026-2029 NOF (National Training Organization).

During the seminars for setting up the training program, for each of the tracks offered within the MBFA Master's program, and taking into account the national RNCP (National Directory of Professional Certifications) profile, the expected skills upon completion of the program were defined and broken down in terms of knowledge, know-how (technical skills), and interpersonal skills. This collaborative process strengthened both the coherence and the personalization of each track offered within the MBFA Master's program. In both the first and second years (M1 and M2), skills and abilities form the common core of the training, encompassing knowledge, interpersonal skills, and operational skills. This list is supplemented, for each track, with additional skills and abilities specific to that track. In addition to the national RNCP profile, the MBFA Master's program therefore has a specific, complementary skills framework to account for the unique nature of the training tracks and the diversity of the professions targeted by the program. This program therefore includes a comprehensive and detailed diploma supplement. The training program and the Assessment Methods for Knowledge and Skills (MCCC), as defined, are communicated at the start of each academic year to students, teaching staff, and, for students enrolled in work-study programs, to their host companies. During the annual program development meetings, the coherence between learning objectives, teaching activities, and assessment methods is systematically discussed, and measures are immediately taken if pedagogical alignment needs strengthening. Understanding the program's objectives allows each instructor to refine and specialize their teaching. Each instructor thus contributes, within their assigned courses, to the success of the entire project, within an organizational structure that fosters the continuous improvement of the program offered to students. The evaluations of teaching and training, conducted annually anonymously among students enrolled in the MBFA Master program, make it possible to verify the adaptation of the pedagogy to the objectives of the training, but also to identify and therefore correct any unproductive gaps or redundancies in the teaching and activities offered to students.

The skills acquired during this training are in line with those of the RNCP record

In accordance with the RNCP (National Directory of Professional Certifications) published for the MBFA Master's program at the national level, the MBFA Master's program structure offered by the University of Reunion Island is organized into competency blocks. These blocks are strictly those listed in the RNCP. Each block consists of several Teaching Units (UEs) designed to enable learners to acquire the targeted competencies. Within this framework, the program structures are also designed to guarantee students a minimum foundation of knowledge and transferable skills: IT, language, knowledge of the economic and financial world, and the development for each student of a portfolio of knowledge, skills, and interpersonal abilities to best leverage for successful professional integration upon completion of the Master's program.

Example of skills targeted upon completion of the Master 2 MBFA program, specializing in Professional and Very Small Business Account Managers (CCPRO & TPE):

• Practices of banking activities with in-depth knowledge of the banking firm, its changing environment, its businesses, its clients and its products.
• The foundations, regulations, business lines, clients, products and accounting results of insurance companies, specialized credit institutions and financing companies.
• Compliance with regulations, risk management, operational security and conformity.
• Discover the professional environment from an economic, administrative and social point of view.
• Identify the components of the Professional market.
• Identify the players in the Pro market and their roles.
• Identify the different segments of the Professional customer base (business-based approach).
• To discern the needs of these different segments.
• A holistic approach to the "Professional".
• The Professional's Commercial Approach.
• Practice business discovery with the professional client.
• Identify the role and missions of the CCPRO.
• To discern the rules to be respected in the exercise of the profession.
• Locate and utilize information sources in this market.
• Identify and master the main tools of the GRC.
• Distinguish between business assets and personal assets.
• Acquiring commercial and/or personal real estate.
• Identify the characteristics of real estate financing.
• State the characteristics of insurance products intended for individuals.
• To offer professional clients products and services tailored to their needs.

In addition to modules preparing students for professional integration, the MBFA Master's program includes several periods of operational training within companies. This training takes place within the company with which the student has signed their professional training contract. Each trainee is placed under the supervision of a professional tutor appointed by the company's Human Resources Department.

The purpose of the in-company training period is to provide trainees with instruction in the tools and processes implemented by the company, work with defined missions, appropriate equipment and responsibilities, opportunities for synthesis and technology transfer, integration into a project team, and the development of confidence. During their in-company training, students must learn the necessary skills and adopt the appropriate professional conduct related to the technical, commercial, and/or management roles within the banking, insurance, and finance sector, depending on the missions assigned to them. The in-company training is monitored by the training managers, who ensure both the consistency of the missions and tasks assigned to the student with the diploma objectives as defined in the ministerial accreditation file and the quality of the trainee's professional integration within the company. The on-the-job training is assessed by the jury during the defense of the Professional Analysis and Observation Report (NAOP) or the professional dissertation, based on an "assessment and monitoring sheet of the on-the-job training" completed by the professional tutor. This assessment is then included in the NAOP or professional dissertation grade.

In total, there are 33 weeks of operational training in a company in M1 and 44 weeks in M2.

Registration fees are set annually by the Ministry of Higher Education, Research and Space and are available on our institution's website: Register at the University of Reunion

For continuing education trainees, in addition to national rights:

• Individual fee:
• Employer agreement:

• The candidate's previous background and in particular their previous enrollment in courses positioned in the field of law, economics and management as well as their professional experiences carried out in particular in the field of banking, finance and insurance and/or in the commercial field.
• The candidate's ability to pursue the requested training (taking into account the grades obtained in subjects relating to money, banking, finance and insurance, the quality of the application file – content and form…).
• The candidate's motivation in relation to their personal and professional project.

• Transcripts, attestations or certificates.
• Curriculum Vitae (CV) and supporting documents.
• Cover letter.

A degree distinction obtained in the field of Law – Economics – Management

Depending on the student's situation, applications for admission to the first year of the Master's program (M1) follow three specific procedures (the national platform MonMaster, Études en France, Validation of Acquired Experience). For more information, please consult the university's student services page. Enroll in the first year of a Master's program

Baccalaureate + 3 or equivalent

The Master's program in Money, Banking, Finance, and Insurance is open to candidates:

• holders of a diploma certifying undergraduate studies. The M1 MBFA is primarily intended for students holding a bachelor's degree in the field of "Law - Economics - Management", in particular the Bachelor of Economics and Management and the Bachelor of Economic and Social Administration (AES).
• who can benefit from the validation of studies, professional experience or personal achievements for access to different levels of higher education. In the latter case, the application file serves as a request for validation of prior learning.

 The profiles sought are as follows:

• Excellent adaptability to different types of interlocutors,
• Listening quality,
• Quality of advice and negotiation,
• Commercial acumen and a sense of teamwork.

40 seats.

September 1.

In M1: The success rate has improved, going from:

• 79% in 2020/2021
• at 86% for 2022/2023

In M2: The success rate remains above 90%:

• 100% in CCPAT and 96% in CCPRO & TPE for 2021/2022
• 93% in CCPAT and 95% in CCPRO & TPE for 2022/2023

The MBFA Master's program is professionally oriented and aims for direct entry into the workforce upon completion of the program. The significant number of internships, apprenticeships, and professional training contracts offered by the island's financial institutions to MBFA Master's students demonstrates the local need for recruitment at the Master's level (Bac+5). This need is met through recruitment at the end of the program.

Few students pursue further studies after the Master's degree (since the creation of the degree in 2005, only one graduate of the MBFA Master's program has decided to pursue, alongside his professional activity, a doctorate in Economics. With his doctoral degree validated, he benefited from professional mobility, recruited as a Director of Service in a local authority).

The sectors of activity and types of employment targeted by this training correspond to those listed in the RNCP record

The professions directly targeted by the MBFA Master's program are those of:

For the CCPRO & TPE program:

• Business Account Manager
• SME/SMI Client Advisor
• Corporate Account Manager.

For the CCPAT program:

• Portfolio manager for high-net-worth households,
• Expert client advisor,
• Wealth management advisor,
• Private client advisor / private banker,
• Wealth manager.