Risk management training gives graduates the tools needed to manage and define risks to companies, employees and the public that will cause a company to be deterred from financial goals and targets. The risk can be financial or physical. Either way, reducing the level of risk is a money saving prospect for businesses. It also protects employees and the general public from accidents due to risk issues that could be prevented. The level of risk is distinguished by classifying the severity and frequency of such potential risks. The stated risks can then be quantified by the possibility of financial burden, since the nature of risks is that they carry financial impact. The aspects of risk might be managed by setting aside funds to protect against financial risk through purchase of insurance policies to cover those risks that have been quantified. In addition to the acquisition of insurance, a risk manager will recommend implementation of risk control measures and loss prevention procedures.
Risk Management Education and Training
Risk management specialists usually begin the path to a career with an associate’s degree, a bachelor’s degree or a graduate certificate in risk control. Classes that would enhance your progress toward a degree include personal risk management, money and banking and business risk identification.
Actuarial science is a related field that requires analysis of financial risks. Reducing the impact of risks and insurance protection is important for the financial security of the business. A background in statistics, business and mathematics is helpful in finding employment as a risk manager.
Other risk management class work could include finance, economics or math. Actuaries must have certification and must have completed applied statistics and corporate finance. In addition, one might take courses in:
- Risk Assessment and Management
- Capital Market Theory
- Liability Assessment
Staying current with economic and social trends is a key part of the background. The risk manager should be competent with spreadsheets and keyboarding. Interpersonal and communication skills are a help to those in management positions.
Risk Management Careers
A graduate of training in risk procedures might be able to work in insurance, consulting firms, corporations, universities and for investment and banking firms. Duties of the job require operation of computers, a strong ability to stay organized and to meet work deadlines. A thorough understanding of how businesses operate is an important characteristic.
Work experience in related fields is important when looking for a career in risk management and actuarial science. Working for a commercial insurance company, bank or risk management firm is considered applicable experience. Positions may include:
- Insurance investigator
- Market research analyst
- Management analyst
- Insurance broker
- Actuarial Scientist
- Corporate risk assessment specialist
A candidate that has a master’s degree such as a Master of Business Administration with an emphasis in risk management. Certain certifications such as Certified Risk Manager or Chartered Property Casualty Underwriter may give prospective employees an edge over other candidates.
Estimated Income and Projected Career Outlook
Employment projections are expected to remain at about the average level for all careers through the next decade. There is expected to be significant competition for open positions that occur. The competition is keen because of the growing numbers of managers with MBAs. A master’s degree and further certification is likely to help with job placement.
Risk management training prepares graduates to take part in the management level of corporations, government agencies and other organizations. As of 2008, the median annual salary for risk managers was listed at $99,330. Most managers are part of policy decisions within a business or organization.
The Bureau of Labor Statistics (BLS) reports that the median annual wage of insurance underwriters was $59,290 in 2010. The lowest 10%percent earned less than $36,700 while the top 10% earned more than $102,540. The employment of underwriters is expected to increase 6% from 2010 to 2020.
For 2010, according to Bureau of Labor Statistics data, the median annual wage of actuaries was $87,650. The lowest 10% earned below $53,100 while the top 10% earned over $160,000 a year. The employment of actuaries is expected to increase by 27% from 2010 to 2020.
Business Managment Programs
- Degrees offered include Bachelor of Science in Accounting, Bachelor of Science in Business Administration, and Master of Business Administration.
- Students are instructed in relevant business skills like communication, mathematics, and management.
- Coursework emphasizes the development of project management, communication, decision-making, and problem-solving skills.
- Flexible, 100% online and campus based programs available.
- BS in Business Administration - Risk Management and Insurance
- Earn your online degree from SNHU. Study Anytime, Anywhere. Flexible on your schedule
- Over 200 career-focused online programs, one of the lowest tuition rates in the nation and a network of support.
- Southern New Hampshire University. Private. Nonprofit. Accredited.
- MS Organizational Leadership
- Full Sail’s curriculum combines elements of creativity, art, business and life skills, technical prowess, and academic achievement.
- Full Sail offers accelerated programs, so a degree that would normally take four years takes 24 months on average.
- Students work with industry-standard tools and technologies, allowing them to gain practical knowledge and real-world experience.
- Join us on Facebook, Twitter, YouTube and Instagram to interact with our community, read about grad success, and see campus images.
- Music Business, Bachelor of Science (Online)
- Entertainment Business, Master of Science (Online)
- Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
- Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
- Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
- Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
- Master of Arts in Organizational Leadership - Not-for-Profit Management
- Ph.D. in Organizational Leadership - Ecclesial Leadership
- Master of Arts in Organizational Leadership - HR Management
- And more...
- Online MBA program ranked 6th in the USA by CEO magazine.
- In a university-sponsored survey, 4 out of 5 alumni reported being satisfied with their experience.
- #1 Online School for military veterans according to Military Times.
- 75,000+ graduates across all industries offer extensive networking opportunities.
- My Unique Student Experience (M.U.S.E.) lets students watch, view, read, or hear content.
- Smartphone app available for on-the-go learning.
- Doctor of Management - Project Management (Executive Format)
- Master of Science in Management - Project Management
- Recognized in the first Best for Vets: Business Schools list in Military Times Edge magazine’s 2013 “Best for Vets” edition.
- Offers MUSE (My Unique Student Experience), a content delivery system that gives students the option to watch, view, read or listen to required course materials.
- Allows students to complete courses at whatever pace they want.
- A DANTES-affiliated university and member of the Service Members Opportunity Colleges.
- Offers IntelliPath, a proprietary learning technology that lets students learn at their own pace.
- Master's (MIT) - IT Project Management
- Apply knowledge of project leadership theories/practical application in organizations.
- Apply effective written communication and research skills.
- Examine management control, monitoring, and value methods.
- Demonstrate critical-thinking skills for effective analysis in decision making.
- Assess costs, risks, and benefits of total quality management.
- Analyze the implications of diversity/culture and managing projects in an international setting.
- BS - Project Management
- Master - Project Management
- Undergraduate Certificate - Project Management
- Program areas include Culinary Arts, Culinary Management, and more
- Students are taught cooking styles from around the globe, including Classical European, Asian, and Latin cuisine
- Curriculum designed to prepare students for a career as a chef, with course topics that include Culinary Techniques, Management by Menu, and Nutrition
- Alumni have appeared in reality competition shows such as Top Chef
- Culinary Management (BS)
- Does psychology interest you? See if Grand Canyon University could be a good fit for your journey in discovering the human mind!
- GCU offers a Bachelor of Science in Psychology and a Master of Science in Psychology with an emphasis in either General Psychology or Industrial & Organizational Psychology.
- The College of Humanities and Social Sciences at GCU provides a job focused education, blending the study of traditional humanities in a modern context.
- GCU offers a variety of learning options, including: traditional degree programs offered at our main campus, online degrees, or evening classes meeting once a week at various locations.
- Founded in 1949, GCU is a regionally accredited, private Christian university and is recognized as offering some of the best online education programs in the nation.
- Request information and learn more about our program offerings, start dates, financial aid and more!
- M.S. in Psychology: Industrial & Organizational Psychology
- Gives students the opportunity to earn their associate’s degree in the culinary arts field in less than 15 months
- Located in Norfolk and Newport News, Virginia.
- Offers externship experiences to students for experience in the field.
- Hosts regular career fairs for employer recruitment.
- Has student housing available.
- Food Service Management