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If you are interested in a career in financial services, you may be required to take risk management courses and complete a risk management certification program. Risk management training programs prepare students for careers in the financial sector, and include subject matter in the fields of asset liability, financial institution analysis, and informational technology. In addition to completing a basic risk management training program, individuals can pursue a risk management master's degree program or other degree program at an accredited college or university.
Types of Risk Management Courses
Most risk management certification and training programs require students to take the following types of risk management courses:
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Introduction to Risk and Insurance
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Life Insurance
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Health Insurance
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Commercial Property Risk Management and Insurance
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Commercial Liability Risk Management and Insurance
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Risk Management and Insurance
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Planning for Business Owners and Professionals
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Financial Planning
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Business Report Writing
Some risk management course programs require students to complete an insurance internship as part of their degree program, and most require the student to take several general business courses as part of the core curriculum.
Some schools and training centers also allow students to complete a portion or their entire risk management course training online. An online risk management course may be a good match for students who do not live near a college campus or training facility, and for those who need some flexibility in their schedules.
Risk Management Certification Programs
Risk management certification is available through the International Association of Risk and Compliance Professionals (IARCP), a professional organization that allows individuals in the field of risk management to distinguish themselves above their peers.
Some of the key reasons to obtain risk management certification include:
Many organizations prefer to hire those who hold risk management certification because certification serves as evidence that the individual has the skills and advanced knowledge needed to handle various types of compliance projects. Those who pass the risk management certification exam can use one, two or all of the following designations:
Those who hold risk management certification are also active members of the International Association of Risk and Compliance Professionals.
Risk Management Masters Degree Programs
Individuals interested in a career in security management theory, labor laws, risk prevention, public emergency services and compliance legislation will need to complete a risk management master's degree program. A risk management master's degree covers several advanced topics including profit prevention and loss, casualty and property insurance, general liability and risk theory. Students with a risk management masters degree often pursue careers as insurance underwriters, claims investigators or financial investors.
Risk management masters degree programs typically include the following types of risk management classes and subject matter:
Risk management masters degree programs train students how to analyze and avoid risks in the legal and corporate field, assess environmental hazards, plan for challenges and make good decisions for the companies or individuals they work for.
Where to Study Risk Management
Risk management training and risk management certification programs are available in both online and offline programs, and through both private and public educational institutions. Those who study risk management are trained to control financial risk by using different types of techniques and calculating and limiting risks in the field of business operations.
The Institute of Risk Management is a leading international professional education body that offers risk management courses, risk management certification programs and advanced risk management training programs for individuals interested in a career in financial services. Many state universities and colleges also offer bachelor's degree programs in insurance and risk management.
Those who study risk management and complete a risk management certification program or risk management training online can pursue a career in the following fields:
The majority of risk management professionals work for insurance companies. According to the U.S. Bureau of Labor Statistics, employment growth for financial managers is expected to be as fast as the average for all occupations through 2018. Median annual wages of wage and salary financial managers were $99,300 in May 2008.
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