Risk Management Insurance and Finance involves understanding the field of risk financing including capital market techniques to address financial and operational risk management challenges. Over the course of your studies you’ll develop an understanding of the risk management process, insurance products for business, and the operational aspects of insurance companies as financial institutions. You’ll complete formal presentations, group projects and various case studies during the course of your degree. As a graduate of the Risk Management Insurance and Finance program, you’ll be prepared for global career opportunities in the areas of banking, finance, insurance, and more. A degree in commerce can also be used as a stepping-stone to graduate studies or another professional degree such as law, medicine, veterinary medicine, or education.
This qualification provides basic, technical and advanced skills in risk management and insurance. It covers areas such as economics, information technology, accounting, research, risk management, insurance and management which are vital for success by risk professionals. It develops the knowledge, skills and competencies of risk practitioners who would be employed anywhere in the world. It’s targeted at those wishing to enter the financial sector, commercial banking sector, investment sector, corporate finance, insurance sector, investment banking, multinational companies, public sector companies and accounting firms as financial analysts, financial planners, financial consultants, venture capital professionals, etc.
What is a risk management and insurance degree?
A risk management and insurance degree is a college program that helps students develop financial protection skills to prevent losses in business. This qualification emphasizes topics like risk management problem-solving, insurance practices and security programs through a socioeconomic lens. Students with this major can expect to receive the latest business knowledge, along with their core curriculum.This type of degree prepares students by providing a comprehensive background in risk management, financial planning, property operations, life and health insurer operations and employee benefits. Students learn how to analyze and identify sources of loss for businesses and nonprofits and how to prevent those losses from happening. While the specific courses that a student can take may vary from school to school, some common classes and subjects include:
- Risk and insurance management
- Employee benefits
- Corporate risk management
- Liability insurance
- Finance and accounting
- Supply chain management
- Management and engineering management
- Marketing
- Business analytics
- Information technology
- Cybersecurity
What are the reasons for getting a risk management and insurance degree?
There are several reasons you might get a risk management and insurance degree, such as:
- Offers higher pay: When you obtain a college degree, you may be able to use your new qualification to negotiate for a higher salary with your employer. Having this degree might also help you qualify for higher-paying positions because some employers favor candidates who possess one or more degrees.
- Provides more job opportunities: Getting a risk management and insurance degree might help you access a more diverse range of job opportunities. If an employer sees you possess this qualification, they may hire you because it indicates a fundamental knowledge of the field.
- Helps you differentiate yourself: Earning this degree can help you differentiate yourself from other job candidates who don’t possess the same qualifications. This may give you a competitive advantage during a job search, helping you to secure more interviews and job offers than other prospects in your field.
- Helps you learn new skills: Completing a degree program not only helps you elevate your credibility within the industry, but it’s also an opportunity to learn a diverse range of new skills. You can use the competencies you build to show your value to potential employers.
- Provides formal qualification: After finishing the risk management and insurance degree program, you receive formal documentation to verify your academic accomplishment. This formal qualification can show your credentials, provide you with confidence and motivate you to continue striving for excellence in the industry.
- Increases chance of a promotion: If you want to earn a promotion with your employer, then getting this degree may help you accomplish that goal. Some senior-level positions require candidates to possess at least a college degree, so getting this one might help you qualify for management roles.
- Assists with changing careers: Some individuals may decide that they’re ready to make a career change and pursue a different occupation. A person may earn this degree so they can have a greater chance of obtaining a new job within this specialized industry.
- Provides networking opportunities: Whether someone has experience in the field or is a novice, completing the risk management and insurance degree program is an opportunity for them to build a strong professional network with their classmates, mentors and professors. These connections may help them find new jobs and access lucrative opportunities after graduation.
- Helps you become an expert in your field: A person already working in the field may decide to pursue this degree if they want to increase their expertise. This knowledge can make them a more reliable colleague and allows them to perform more technical and challenging tasks.
- Allows you to pursue higher education: If someone wants to pursue their master’s or doctorate in the field, earning a bachelor’s degree is an essential step to help them accomplish their academic goals.
Bachelor Of Commerce [B.COM] (Risk Management And Insurance
4 YEARS FULL TIM E ENGLISH CO-OP & ON-CAMPUS
Field of Study
$16,642
1ST YEAR
FEES
INTERNATIONAL STUDENT TUTIONCHECK DETAILED FEES
Eligibility & Entry Requirement
Academic Eligibility:
- Candidate must present a minimum 65 percent in English or equivalent.
- Candidate must present a minimum 2.00 GPA in a transferrable post-secondary English course.
- Students should achieve a minimum of 2.00 cumulative GPA on the most recent 12 units from another post-secondary institution.
- Students must be qualified in IELTS or TOEFL to get admission in this program.
Indian Student Eligibility:
- The student has graduated from senior secondary school or equivalent.
- Minimum 4 major subjects in 12th Grade, including English, with an average of 70% and no course less than 65%.
Program Description
- University of Calgary offers a BCom in Risk Management with a duration of 4 years.
- This program is offered on a full-time basis.
- This is a course-based program and is delivered on-campus.
- The program provides co-operative work placement.
- Students will have study abroad opportunities.
- Risk Management involves formally identifying and evaluating risk, and choosing the most efficient way to pay for and recover from potential loss.
- Over the course of the studies, students will develop an understanding of the risk management process, insurance products for business, and insurance company operations.
- Students will complete formal presentations, group projects, and various case studies during the course of their degree.
- Some of the courses in this program are:
- Introduction to Business Analytics
- Introduction to Business Skills
- Introduction to Risk Management and Insurance
- Principles of Macroeconomics
- Principles of Microeconomics
- The University of Calgary ranked in 6th place in Canada by Research Infosource in 2018.
- The University offers small class sizes that provide close research interaction with their supervision.
- The Faculty of the department have received global recognition by winning awards like federal awards, Provincial awards, Indigenous awards, etc.
- The average salary goes up to 78,000USD.
Program Highlights
| Degree Type Offered | Bachelor |
| Duration | 4 years |
| Fees | 72544 for 4 years |
| Delivery Type | Full Time |
| Admission Intake | Fall (Deadline – Mar 1) |
| Language Proficiency | IELTS,TOEFL,PTE |
| Program URL | https://live-ucalgary.ucalgary.ca/future-students/undergraduate/explore-programs/risk-management-insur… |
Required Document List
Following are the required Documents:
- CV/Resume: Outline of academic achievements and/or awards, publications, relevant work and/or volunteer experience.
- Transcript: A PDF copy of all post-secondary transcripts within the application or in Carleton Central.
- Two Letter of Reference: Referees (Teachers, guidance counselors, or Professors) should comment on academics and that references should submit along with the application system.
- Statement of Intent: Explain the reasons or intentions for pursuing studies in this program, including a description of prior experience.
- Writing Sample: Students applying for a job, internship, may be asked to provide a writing sample that allows an employer or graduate program to judge student ability to convey a written message.
- Study proposal: Document proposing a research project, generally in the sciences or academia, and generally constitutes a request for sponsorship of that research.
- Statement of Purpose: An essay stating the purpose of applying to a particular course at a particular university.
- Statement of research interests: Student has to fill their interesting research work area in the application form.
Application Deadline
CHECK ELIGIBILITY
| Event | End Date |
| Fall | Mar 1, 2021 |
Scores Required
6.5 / 9
Avg. Score in
86 / 120
Avg. Score in
60 / 90
Avg. Score in
Fees & Funding
Tution & Application Fees
| Year | Year 1 | Year 2 | Year 3 | Year 4 |
| Tuition Fee | $16642 | $16642 | $16642 | $16642 |
| Books And Supplies | $1417 | $1417 | $1417 | $1417 |
| Health Insurance | $77 | $77 | $77 | $77 |
| Total Fees | $18136 | $18136 | $18136 | $18136 |
Living Costs
| Head | Avg Cost Per Year |
| Housing | $16480 |
Scholarship Grants & Financial Aids
| Name | Amount | International Students Eligible | Application Deadline |
| UCalgary International Entrance Scholarship | $10769 | Yes | Dec 1, 2020 |
| Calgary President’s Admission Scholarship | $3452 | Yes | N/A |
| Haskayne Founders’ Circle Scholarship in Business | $1730 | Yes | Aug 1, 2020 |
| Alberta Geomatics Group Scholarship | $378 | Yes | Aug 1, 2020 |
Show more
Options Available
| Program | Delivery Type | Duration | Program Type | Tution Fees |
| B.Com Risk Management and Insurance | full time | 5 years | co-op, on-campus | $13753 |
| B.Com Risk Management and Insurance and Finance | full time | 4 years | co-op, on-campus | $13753 |
| B.Com Risk Management and Insurance and Finance | full time | 4 years | on-campus | $13753 |
VISA & Work Study
VISA
- The students need a study visa to study at designated learning institutions (DLI) in Canada.
- A Study Visa is issued to students by Immigration, Refugee and Citizenship Canada (IRCC) and authorizes an individual to study at a designated learning institution in Canada for the duration of the program of study.
- The Visa is usually valid for the length of the study program, plus an extra 90 days.
- Students may also need a visitor visa or an electronic travel authorization (eTA).
- At the time of VISA application, students need to provide various documents:
- Letter of Acceptance from the University of Calgary
- Proof of Financial Support
- Passport
- Photograph
Work Study
Students with a valid Study Visa, enrolled full time are eligible to work on-campus and off-campus.
On-Campus: Students registered as full-time and have a valid Study Visa, may work on-campus
- There is no legal restriction on the number of hours to work on-campus, so long as the student remains a full-time student can work on-campus.
- Students may also work more than one job.
Off-Campus: Students are enrolled full-time, have a valid study permit, and are in a program that leads to a UCalgary degree that takes longer than 6 months to complete, they may be eligible to work off-campus.
- The graduate students can work 20 hours per week off-campus during regular academic sessions of Fall and Winter terms.
- The undergraduate students can work 20 hours per week off-campus full-time during scheduled breaks.
Work Permit: A work permit that allows international students to work full-time while still being enrolled full-time. Students may only use this work permit to work full-time during their co-op/practicum terms in a work.
Career and Placement after Course
As a graduate of the Risk Management and Insurance program, students will be prepared for global career opportunities in the areas of
- Banking
- Underwriting
- Insurance
What can you do with a risk management and insurance degree?
Graduates with a risk management and insurance degree can apply for a diverse range of jobs, including:For the most up-to-date salary information from Indeed, visit indeed.com/salaries.
1. Insurance sales agent
National average salary: $54,291 per year
Primary duties: An insurance sales agent identifies opportunities to sell insurance plans to clients. They help customers understand their current financial risks and then offer them insurance packages to help alleviate those concerns. Insurance agents are also responsible for handling policy renewals, tracking customer insurance claims and determining useful risk management strategies.
Related: Learn About Being an Insurance Agent
2. Compliance officer
National average salary: $64,514 per year
Primary duties: A compliance officer monitors a company’s processes to ensure it’s accomplishing its business goals ethically and legally. They may develop and implement mandatory compliance programs to make certain that everyone formally understands acceptable and unacceptable business practices. These individuals also review their employer’s policies and consult with management about potential risks.
Related: Learn About Being a Compliance Manager
3. Underwriter
National average salary: $80,553 per year
Primary duties: Underwriters are financial experts who work in a variety of industries, like the stock market, banking and insurance. They use complex mathematical and statistical computations to assess a client’s risk and then determine how much risk they’re willing to undertake. This information helps them determine what premiums, interest and protections to offer their clients.
Related: Learn About Being an Underwriter
4. Risk manager
National average salary: $92,911 per year
Primary duties: A risk manager oversees a company’s risk management operations, performing extensive research to help their employer identify and reduce their liabilities. Once they evaluate their company’s current risk level, they develop a plan of contingency to address any issue before it escalates. They may also act as a consultant, providing expert advice on how to fix risk management problems within the company.
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