What is Risk Management and Why Should I Study It?

EKU Online > What is Risk Management and Why Should I Study It?

Risk management is the process of identifying, assessing and controlling threats to an organization’s capital and earnings. Although it may sound hazardous, risk is necessary for any business to grow and develop. Effectively managed, risk can help companies thrive, while poorly managed risks can cause serious problems. Which is why risk management careers are growing.

Anytime a business or organization makes an investment or other business decision, it exposes itself to a variety of risks. These risks could stem from a wide assortment of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents and natural disasters. 

The ability to identify, evaluate and implement management strategies to alleviate these risks has become a top priority for modern companies. As a result, a risk management plan and — more importantly — qualified professionals to design and implement it are increasingly valuable assets in the workforce.

Risk management careers are extremely diverse and opportunities exist across the industry spectrum. Risk management roles range from banking and insurance to logistics and infrastructure, aviation, business, construction, public health, and international development just to name a few.

According to Burning Glass Labor Insight, regional demand for bachelor’s-level risk management and insurance professionals increased 50 percent between 2013 and 2016.  Nationally, employer demand for bachelor’s-level risk management and insurance professionals grew 48 percent in the same time period.

As a risk management and insurance major you will receive academic and professional preparation through courses such as risk management, operations management, accounting, claims handling, and life insurance and estate planning. As a graduate you’ll be positioned to take on entry level positions and pursue an MBA or other advanced business degree if desired.

Recent graduates of EKU’s risk management and insurance program are employed by:

  • Liberty Mutual
  • Family Financial Partners
  • Cincinnati Insurance
  • North Western Mutual
  • Met Life
  • New York Life

Interested in a Risk Management career?
Earn your online bachelor’s degree from a regionally and AACSB accredited university that has been an online education leader for more than 15 years.

Complete the learn more form for more information about earning your bachelor’s in Risk Management and Insurance to give yourself a competitive edge in the job market.

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