Best Online Risk Management Programs

Bachelor’s in risk management programs can equip students with advanced strategic and insight-driven tools for mitigating the risks organizations face. They generally maintain a multidisciplinary focus with strong applications in the insurance, banking, financial services, and corporate finance industries.

Many institutions offer risk management degree programs in both campus-based and online learning formats. Often, schools include risk management in their lineup of business programs.

Graduates of these programs can pursue jobs as risk analysts and risk management consultants. Some also pair risk management with computer science or technology education to access career paths in data protection and cybersecurity.

The Bureau of Labor Statistics (BLS) groups some risk management positions within more general career profiles. For example, the BLS includes financial risk analysts within the broader category of financial analysts. These professionals earned a median salary of $99,890 per year in May 2023 with an 8% projected job growth between 2022 and 2032.

Risk management professionals working in cybersecurity and information security enjoy an even stronger near-term outlook. According to BLS data, information security analysts made a median wage of $120,360 per year in May 2023. The BLS also projects positions for these professionals will grow by 32% over the next decade.

Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.

Risk management professions generally attract people who excel at extracting insights from data. Analysis usually focuses on quantitative information, making strong numeracy skills vital to your professional success. Key soft skills include communication, problem-solving, and time management.

Some schools’ risk management programs are campus-based and others are offered online. Most bachelor’s degree programs require students to complete 120 credits or 40 courses. Full-time learners can normally earn their degree in four years.

Programs may allow students to choose a concentrated focus or offer more general training. Examples of specialized bachelor’s programs include:

A bachelor’s in risk management usually leads to one of two degree designations: a bachelor of science (BS) or a bachelor of business administration (BBA).

BS programs generally maintain a core focus on data analysis, research skills, and systematic methodologies. Meanwhile, BBA study paths ground similar topics in their direct applications to the world of enterprise management.

Some schools offer risk management students the option to pair their undergraduate degree with a master of business administration (MBA). In certain cases, learners can earn an MBA on an accelerated schedule, typically at the same school where they acquired their bachelor’s.

This required, introductory course develops students’ understanding of reporting cycles, financial statements, and generally accepted accounting principles. They then apply these concepts to specific accounting models, including financial and management accounting.

Concepts including managerial finance, capital costs, financial statement analysis, and asset valuation form the core of this required course. Students then consider these topics through the lens of risk analysis and mitigation.

This essential course introduces students to specific techniques for identifying and managing financial risks. Content may cover some or all of the major classes of risk facing businesses. These include market, credit, liquidity, and operational risks.

Schools make this course required or optional, depending on the program’s overall focus. It teaches methods for factoring risk into decision-making processes specific to the insurance industry.

This specialized course may be required or elective and usually falls in the upper semesters. It introduces learners to methods for analyzing investment portfolios for risk exposure and risk mitigation opportunities.

Many industries have a strong and ongoing need for professionals with advanced risk management skills. A bachelor’s in risk management can open doors to careers in insurance, finance, information and data security, and cybersecurity. Risk management professionals also work in energy and utilities, healthcare, government, and other areas.

Schools often configure their campus-based and online bachelor’s in risk management programs as business degrees. Business is the most popular college major. According to the BLS, professionals in business and financial occupations earned a median yearly salary of $79,050 in May 2023.

Some risk management occupations like information security analysts have very strong near-term growth projections. This reflects the ongoing emergence of a brand-new class of enterprise risks related to data and information protection.

See where a bachelor’s in risk management can take you. Learn more about data science and business and finance careers.

Insurance companies employ analysts specially focused on risk assessments. Often called underwriters, they typically use purpose-built software tools to evaluate the company’s policy portfolio. Analysts assess risks, make recommendations, and examine policy renewal, cancellation, change, and quote requests.

Median Annual Salary (May 2023):$77,860

This interdisciplinary profession merges aspects of risk management and business administration. A career as a management analyst is generally more open to students with a BBA in risk management and several years of related experience. The job involves assessing business operations to identify inefficiencies and risk levels, and to propose strategies to address them.

Median Annual Salary (May 2023):$99,410

Professionals with strong risk management backgrounds may choose to work as financial advisors. In this role, they offer investment advice to individual clients seeking to build their financial futures. These professionals should also possess a strong working knowledge of investment vehicles and financial markets.

Median Annual Salary (May 2023):$99,580

These specialists may work for consulting firms or build careers independently. They analyze business operations on behalf of their clients and note risks that could impede or endanger their financial progress. In some cases, risk management consultants also perform regulatory and compliance audits.

Average Annual Salary (April 2024):$84,320

Information security analysts specialize in protecting both digital data and analog information from breaches and theft. These professionals share many responsibilities with risk management consultants since many novel and emerging risks relate to databases and information repositories. Related experience and computer science and cybersecurity training, certification, or degrees may boost a candidate’s employability.

Median Annual Salary (May 2023):$120,360

Graduates of bachelor’s in risk management programs can pursue many continuing education opportunities. Students planning careers in business, finance, and management often go on to earn an MBA. This may open doors to career paths with greater advancement potential and higher pay.

Others opt to add recognized professional certifications to their degree-based education. Examples include the Certified Financial Risk Management Consultant credential offered by the Institute of Financial Consultants. Others include the Certified Risk Manager, Certified Risk Management Professional, and Certification in Risk and Information Systems Control programs.