Risk management professionals help people and organizations protect themselves from financial losses due to unexpected events. They can help identify risks and prevent them from happening or mitigate their impact. Risk management is what allows our lives and the economy to operate smoothly in spite of the risks and the reality that bad things occasionally happen.
This major is perfect for students who enjoy sophisticated analyses and solving problems using analytical skills. Other skills used in this profession include customer and relationship management, communication, critical thinking, and having an eye for accuracy and detail.
Roles exist in the risk management industry not only for financial risk managers but also for operations, cybersecurity, climate change, and a host of others. Additionally, the insurance field includes agents, underwriters, claims adjusters, product managers, IT professionals, and more.
Insurance is an in-demand career choice as an estimated 400,00 insurance employees are set to retire over the next 15 years, according to a U.S. Chamber of Commerce report.
However, the RMI major can be applicable for other career options as well.
Kenzie Skoglund, a junior who has a double major in Statistics and Actuarial Science and Math enrolled in the RMI major for this fall.
“I'm looking to become an actuary after I graduate,” she said. “When I heard about this new major, I thought it would be worth pursuing. I like that it brings in more of the business side of things that aren't in my other majors.”
For more information, visit the Risk Management and Insurance major page on the LSBE website.