What Is Risk Management Degree And What Can You Do With It?
According to The US Bureau of Labor Statistics, the business and financial sectors create more than 700,000 new jobs for the economy from the year 2016 to 2026. As for those who want to work in the business & finance industry, a degree in risk management is strongly recommended.
What is a Risk Management?
As a finance-related business like insurance is forced to transform due to the factors like the global COVID-19 crisis, companies need well-trained professionals to help them and their customers.
Risk management professionals work at each stage of the risk assessment process to identify the problem and where the risks lie to devise appropriate response strategies. In simpler words, we can view buying insurance as a risk management strategy since it is one of the ways we can best reduce the risk of health, safety, etc., of any citizen in any country.
Therefore, it can be said that a risk management-related degree is proof that you can showcase to future employers that you have the expertise and ability to maintain the financial health of their business while providing customers with the security and protection they need.
Should I study Risk Management?
Risk management students are someone who embraces the following qualities: a problem-solver, dedicated, possess good analytical and mathematics skills.
Currently, many universities and education institutes offer program courses specifically for this field, both available offline and online. Upon completion, students will have a set of skills that will allow them to identify the core problem of any industry, identify threats, and make recommendations to minimize the risk or solve them.
Suppose you majored in a business-related field such as Business Administration, Hospitality Management, Finance, and Accounting, etc., and want to be a manager or any key decision-maker in the future. In that case, we strongly recommend you enroll in a risk management course to have a broader perspective and develop better problem-solving tactics and strategies.
After graduating with a Bachelor / Master of Risk Management degree, students will possess extensive knowledge about the economy and the factors influenced. As a result, students can work in areas related to financial management, property, insurance, data analysis, or management roles in businesses.
Three typical professions that readers can refer to include:
- Insurance agents sell many different types of insurance, including auto insurance, health insurance, and life insurance. They chat with clients to learn about their financial situation and offer financial planning recommendations or changes to their current plan.
- Financial consultants: they are experts in financial advising and making sure that organizations have enough money to make loans and deal with financial losses.
- Actuaries: they are experts who use statistics to estimate risks such as natural disasters. In fact, employment of actuaries is projected to grow 18 percent from 2019 to 2029, much faster than the average for all occupations.
Where should I study Risk Management?
In such a volatile economy, ensuring that risks are minimized and mitigated so that if issues occur, it is minimized is one of the most critical jobs. Risk management is not only the responsibility of experts in financial management and risk reduction, but it is also a concern of managers in all organizations and in the industry of all fields.
The Master of Sciences in Risk Management program with a Dual Degree provides learners with the knowledge, skills to identify risks, perform activities to minimize risk impact, decision-making, and department management skills as a senior manager.
The Master of Sciences in Risk Management program with Dual Degree is a risk management specialist training at Master level combining the UK’s Level Qualifications system and Switzerland’s famous higher education training system in risk management.
After graduating with a Master of Sciences in Risk Management, learners will receive:
- RQF Level 7 (Master level – United Kingdom): OTHM Level 7 Diploma in Risk Management
- Master’s Degree from SIMI Swiss: Master of Sciences in Risk Management
Source: The Swiss Institute of Management and Innovation