What is a Master in Risk Management?

part of Business & Management

Risk management is the business discipline that deals with anticipating, evaluating and addressing possible consequences of strategic actions within an organisation. Risk managers are financial experts that have the necessary knowledge, skills and experience to identify and evaluate risk factors, and to implement strategy plans to prevent or minimise losses. They are required to protect an organisation's assets and incomes, employees, reputation and shareholders.

Some business schools and colleges offer degrees, diplomas and certificates specifically in risk management. Others offer students the possibility to specialise in areas that suit their preferred career path by combining risk management with related disciplines including administrative studies, business continuity, security and risk management, risk management and organisational continuity, investment and financial risk, risk management for banking, and many more. Students acquire fundamental knowledge of predictive models and risk management systems, learn how the decision making process works, and train their quantitative skills and critical thinking, among others.

Typically, graduates in risk management are already young professionals working in small or large national companies, corporations, banks, audit firms, insurance companies, financial consultancy agencies or governmental agencies. Career prospects include titles such as financial business risk analyst, risk manager, director of corporate risk management, market risk quantitative analyst, etc.

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Check out our list of Master's degrees in Risk Management. Keep in mind you can also study an online Masters in Risk Management.

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