Risk Management - Courses, Colleges and Careers

Types of Risk Management 

Risk has become an integral part of lives and businesses. However, life has eased out with technological advancement and now managing risks with the help of technology is now simpler than before.

Risk management means avoiding shocks on one hand and on the other implementing change to control the outcome. Risk management becomes a good management area for organizations which mange risks effectively in achieving their goals.

Risk Management is a new area of study in India. It is an extremely specialized area focusing on managing risks arising out of fire, flood and earthquake. As a Risk Management student, you are trained to handle industrial gas leakages, building collapse, and epidemics. Students are also taught to manage risk arising out of natural calamities like flood, drought and earthquake. Risks could also be of non-materialistic nature like share market crash, project failures, or financial failure, share market operations, investments and insurance risks and wealth management. Risks are also classified as risks of low value but high chances of occurrence and risks of higher value with low chances of occurrence. As a Risk Management professional you are expected to design and implement an overall risk management process for the organization, plan risk control actions, monitor and suggest changes into the organization in managing risks. He or She should be able to write appropriate reports and supervise implementation strategies.


Career Scope and Job Prospects in Risk Management

Risk Management professionals are usually offered jobs in the financial sector and insurance companies. You can be appointed as,
  • Performance and Risk Manager

  • Risk Surveyor

  • Risk Manager

  • Risk Management Adviser

  • Risk Analyst

A graduate in any discipline can become a Risk Management professional. If you have qualification in the following disciplines you can broaden your horizon on risk management. The disciplines include:
  • Auditors, accountants and advisors of governance

  • Insurance underwriters, claims handlers, brokers and client managers

  • Banking and financial services professionals

  • Project, programme and change managers

  • Safety, health and environment professionals

  • Lawyers and legal consultants

  • Engineers and surveyors

Top Colleges for Risk Management

  • Institute of Insurance and Risk Management - Hyderabad

  • Indian Institute of Banking and Finance

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