What is a Risk Management Degree?

Becoming a risk manager means protecting people against loss and saving the day by saving people from financial disaster. Risk managers work for insurance companies as underwriters or at financial institutions assessing and watching the current value of money, stocks, and other investments a company may hold, as well as advising on potential financial decisions.

Risk managers are trained to gather critical financial information to assist in decision making and advising. This training includes at least a bachelor’s degree, and often a master’s degree to solidify and practice the concepts of risk management, like research, analyzing data, and market trends.

While a risk management degree is, at its core, a business degree, a risk management degrees also teaches students skills specifically involved business management, risk assessment, and finance including:

  • Finance
  • Economics
  • Business Development
  • Strategy
  • Supply Chains

These courses help to build a solid foundation in risk management and help students understand the basic principles of business, management, assets, and finances. Students who successfully work their way through this degree program are able to go to work as risk managers for any number of companies during their careers. Sometimes, after a degree is earned, students will go on to further their education through additional certifications.

What Does a Risk Manager Do?

Risk managers will often work at several jobs to gain financial experience before they settle into a truly risk related career. Those jobs might be working as a loan officer, financial advisor or analyst, or as an insurance agent. These jobs help people gain experience in finance, analysis, reporting, and customer relations, which are all essential in going on to work as a risk manager; these are also the skills that are taught in a risk management degree track, and these jobs help people build on those in a real life setting. During these years, they can also focus on developing a crucial instinct necessary in understanding and evaluating financial risks.

Though salaries vary with experience and corporation, those working as risk managers can make up to $100,000, depending on what business they work for. It is a challenging, stimulating environment, but also one that is satisfying mentally and financially for just the right kind of person.

Online Risk Management Programs

Kaplan University BSBA - Risk Mgmt and Insurance BSBA - Risk Mgmt MS - Financial Analysis BSBA - Financial Analysis Kaplan University – Kaplan University offers a BSBA in Risk Management with a specialization in Insurance. Kaplan also provides a graduate program for Financial Analysis for students interested in furthering their careers. Kaplan is accredited by the Higher Learning Commission and is a member of the North Central Association of Colleges and Schools.
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University of the Rockies MA - Org Dev and Leadership: Risk Mgmt PhD - Org Dev and Leadership: Risk Mgmt University of the Rockies – For students wanting to pursue graduate degrees, the University of the Rockies can provide distance learning options for working professionals and continuing scholars. UOR offers two programs with a Risk Management specialization: an MA in Organizational Development and PhD in Organizational Development. UOR is accredited by the Higher Learning Commission.
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