Online Risk Management Degree Programs
Risk management degree online programs prepare you to work as a financial analyst or with insurance firms as an actuarial scientist.
Risk management involves assessing and quantifying business risks, then taking steps in order to try and control or reduce them as well as mitigate them. With risk management training you can also work as an insurance sales agent via direct sales, direct mail, telephone, or Internet.Risk management focuses on identifying and managing threats and risks to a company or organization. This requires reviewing operations, identifying potential threats, ranking the risk, and mitigating the risk. With an online certificate or degree you can work as a consultant or risk management analyst in loss prevention, operations, and accounting. Employment is available in corporate institutions, cash management, treasury, and finance officers. A risk management MBA degree or risk management masters degree prepares candidates to have skills in insurance and risk mitigation.
Risk Management Programs
Risk Management Education and Training
In online risk management degree programs, risk management courses include mathematics, statistics, microeconomics, corporate finance, and accounting. Risk management classes prepare you to understand the process of identifying, measuring, and managing risk, report writing, employee benefits, insurance, and procurement.
Some of the risk management courses you might take are:
The risk management courses would cover concepts in: Enterprise Risk Management, Financial Markets, Life Risk, Financial Reporting and Analysis, Commercial Liability Risk Management and Insurance, and Commercial Property Risk Management and Insurance to mention some core areas.
Risk Management Careers
There are various options for getting your training in risk management. You can chose to get a degree or certification in risk management. Thereafter, you can seek careers in risk management as a risk management analyst or as an independent consultant, going into companies, organizations, or corporations working in accounting, loss prevention, and operations.
Related to risk management is actuarial science, which is a field that applies mathematical and statistical methods to assess risk in the finance and insurance sectors. Actuarial science combines several areas of study including statistics, probability, accounting, finance, and economics.
Actuaries or actuarial scientists are trained professionals who are qualified through years of training, education, and experience. In Canada, United States, United Kingdom, etc, actuaries are required to take licensing or professional exams or certification in order to demonstrate their qualifications.
Estimated Income and Projected Career Growth
Bachelors in risk management degree and risk management MBA degree programs can lead to careers in the financial sector. This might include jobs in financial management, personal financial advising, and insurance claims and processing. The United States Bureau of Labor Statistics (BLS) reports that the median salary of financial analysts in risk management and insurance to be about $67,000.
A median salary for actuaries is around $83,000 while the average salary for insurance sales agents is around $44,000. As a financial manager you can earn about $82,000 a year, while a financial advisor can make about $63,000 a year.
The overall employment of financial managers of is expected to grow by 8% between 2008 and 2018. This figure include risk managers, who assess risks for insurance and investment purposes. The employment in the insurance industry is projected to grow about 3% during the same period. Many of the professionals in this field would hold a finance degree, a risk management degree, acturial science degree or similar qualifications.
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