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Master's Degrees in Risk Management: Program Overviews

Risk management involves the identification, assessment, and management of financial, legal, and other types of risks within organizations. Students interested in this field can pursue a Master of Business Administration (MBA) or a Master of Science (M.S.) in Management with a specialization in risk management.

Essential Information

Students in risk management master's programs complete general business subjects like macroeconomics, accounting, and organizational behavior as well as specialized coursework, such in risk evaluation and risk modeling techniques. This program typically takes 1-2 years to complete and may be offered on-campus, online, or through a combination of both. Applicants for a MBA or M.S. in Management with specialization in risk management are often required to have acceptable GMAT scores and a bachelor's degree with undergraduate coursework in economics, finance, business, and mathematics. Some programs require a minimum GPA of 2.5 as well as a professional resume, letter of recommendation, and business management or leadership experience.

  • Program Levels in Risk Management: Master's degrees, Graduate certificates
  • Prerequisites: Bachelor's degree with related coursework in business
  • Online Availability: Widely available
  • Program Length: 1-2 years

Master of Business Administration with a Concentration in Risk Management

Master of Business Administration (MBA) programs that offer a concentration in risk management are primarily designed for students who already have professional experience in the field. MBA students are trained for management positions in areas, such as human resources, statistics, technology, forensic accounting, and insurance. MBA students develop analytical and assessment skills used in risk management through courses such as the following:

  • Financial issues in risk management
  • Property and product risks
  • Cultural aspects of international business management
  • Business ethics
  • Research methods for measuring risks

Master of Science in Management with a Specialization in Risk Management

Master of Science (M.S.) in Management programs provide a customized, research-based education in risk management. These programs typically focus on theories and applications used in insurance and risk management, while helping students develop their quantitative and qualitative thinking and research skills. Subtopics in risk management, including insurance regulation, public policy, and employee benefits are also discussed in this program. Students develop critical-thinking skills used in risk management through courses such as:

  • Risk fundamentals
  • Risk management modeling
  • Computing methods in risk
  • Company operations

Popular Career Options

Graduates of risk management master's programs may be eligible for high-level risk management careers, such as the following:

  • Senior risk analyst
  • Senior underwriter
  • Financial planner
  • Corporate risk officer
  • Chief compliance officer
  • Risk management counselor
  • Human resources specialist
  • Portfolio risk management specialist

Continuing Education

Graduate certificate programs can enhance a master's degree in risk management. These programs provide specialized training in a variety of risk management topics, such as systems analysis, information systems management, and health care risk management.

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