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How do I Become a Risk Management Manager?

Article Details
  • Written By: Jessica F. Black
  • Edited By: Allegra J. Lingo
  • Last Modified Date: 29 July 2019
  • Copyright Protected:
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The essential quality needed to become a risk management manager is an enhanced knowledge of finances and mathematics. Students can begin preparing early for this career by paying close attention to financial current events and succeeding in mathematics. Negotiation, marketing, and problem solving skills are usually required to become a risk management manager, which students should begin working on in high school with advanced math and economic courses. This position generally requires a degree and extensive experience in the field. Most positions in financial fields are achieved by first excelling in entry level jobs.

Students should research four year universities to find business programs that are based on risk management. Some colleges do not specifically cover risk management, and the alternative could be a degree in finance. Schools that do offer the program usually include courses such as principles of risk management, risk financing technique, property and liability risk management, and practical leadership. A bachelor's of science (B.S.) degree in risk management will increase the student's chance to become a risk management manager.

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Entry level job training is often acquired during internships with risk management firms. Students should seek internships or volunteer work in the field shortly after beginning college. Field experience will help students learn the particular skills needed to become a risk management manager. Universities usually sponsor job fairs on campus, which is a good place to seek advice and find a firm that is appropriate for training purposes. Students may also seek part-time employment in risk management firms during the school year and summer.

In addition to internships, most countries have organizations that offer certification courses after graduation. These courses and exams are often required to become a risk management manager and are usually taken throughout the career. This process is used to renew certification and educate professionals on various changes and advancements in the field. It can be an extremely lucrative field, and starting salaries are usually high. Salary increases are usually available because there are many career advancement opportunities in risk management.

Risk management managers generally work for large corporations and are in charge of assessing the company's financial status and reducing financial risk. He or she generally oversees all expenditures as well as risks associated with business operations. The job can often be strenuous, and employees must be able to work in a stressful environment. Communication and interpersonal skills are also required in order to relate information to clients, employees, investors, and other professionals.

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