Online MBA: Focus in Risk Management
A risk manager is a financial manager that oversees programs to minimize risks and losses to companies, businesses, and other organizations. These professionals develop financial and accounting systems, control financial risk by using special techniques such as hedging, and decide which insurance products should be utilized in order to protect a company’s assets.
The following industries employ the largest numbers of risk managers:
- Securities and Commodity Contracts
- Intermediation and Brokerage Management of Companies and Enterprises
- Insurance Carriers
- Local Government
- Depository Credit Intermediation
While the risk management industry is expected to experience an 8% increase in job growth for the 2008-2018 decade, aspiring risk management professionals will face intense competition for positions. Fortunately, the industry is expected to grow from 539,300 professionals to 580,500 by 2018. To get your foot in the door, you should consider an MBA with a focus in risk management. The risk management MBA is available in both online and traditional formats, so if convenience is a concern, start searching for a suitable online program.
Top online MBA programs offer the traditional core curriculum for the MBA along with a coherent set of courses in the risk management focus area. They also carry nationally recognized accreditation. It is important to note that the on-campus MBA curriculum is still the standard in both the academic and business worlds.
Core Curriculum for MBA Degrees
The following core curriculum is the standard for accredited online and on-campus MBA degree programs. Core curriculums typically account for 40% of the degree requirement.
- Accounting
- Business
- Strategy Economics
- Finance
- Human Resources
- Marketing
- Management
- Manufacturing and Production
- Operations Management
- Statistics
- Technology and Information Systems
Specific course titles include but are not limited to financial accounting, marketing strategy, managerial economics, leadership development, managerial statistics, operations strategy, financial planning and analysis, strategy structure and incentives, global economic environment, and social networks and social capital.
Online MBA: Focus in Risk Management Degree Curriculum
In addition to the core curriculum for the MBA, the focus in Operations Management will include many of the following advanced courses:
- Actuarial Statistics
- Business Insurance and Estate Planning
- Employee Benefit Plan and Design and Financing
- Financial Derivatives
- Financial Strategies and Analysis: Insurance
- Fundamentals of Actuarial Science I
- International Markets
- Investment Management
- Markets for Pure Risk
- Risk & Crisis Management
- Risk Analysis and Environmental Management
- Risk Management
- Risk Management and Treatment
After examining the core curriculum and focus area requirements, check the online school’s accreditation status. The following agencies are recognized by the U.S. Department of Education:
- The Association to Advance Collegiate Schools of Business (AACSB)
- The Association of Collegiate Business Schools and Programs (ACBSP)
- The Council for Higher Education Accreditation (CHEA)
- The Distance Education and Training Council (DETC)
The following recognized accrediting agencies offer regional accreditation:
- Middle States Association of Colleges and Schools
- New England Association of Schools and Colleges
- North Central Association of Colleges and Schools
- Northwest Commission on Colleges and Universities
- Southern Association of Colleges and Schools
- Western Association of Schools and Colleges
Finding Online MBA: Focus in Risk Management Degree Programs
To locate top accredited online MBA: Focus in Risk Management degree programs, students may explore the offerings at on-campus universities, search through comprehensive online directories such as Top Online Colleges, or use well-known search engines such as Bing, Ask or Google. Each online degree program will offer information on accreditation. The accrediting agency must be recognized by the U.S. Department of Education. The accrediting agencies mentioned above do not represent the full list of nationally recognized accrediting agencies, so please visit the U.S. Department of Education website for details.
Tip: Other positions in the risk management industry include pension fund management, insurance company investment, pension fund management, and social insurance program design and oversight. Management consulting firms also hire risk management professionals.
