Financial uncertainties. Legal liabilities. Technology issues. Management errors. Accidents. Natural disasters. These are some outcomes that result from unforeseen risks.
Every decision made in business carries a form of risk that can be big, small or everything in between. The question is: how does one minimise as much risk as possible?
Enter, risk management. Risk management is about identifying, controlling, and assessing risks to a company’s capital and earnings. It’s having the company’s best interest as the prime objective. In essence, analysing low-risk ways companies can grow their profiles, helping industries effectively increase workflow, and predicting future outcomes proactively.
Risk management is a broad field, and therefore, comprises many different types of careers. Popular ones include risk analysts, loss control consultants, internal auditors, and compliance consultants, among others.
In a career that involves risk management, you’ll likely become a decision maker for customers, businesses, and even countries. If your interest is piqued, here are five business schools that offer postgraduate business programmes that cover this dynamic subject:
MIB Trieste School of Management
Those who live in Trieste, Italy’s “City of Knowledge,” know they are lucky. It’s an affordable, small but cosmopolitan city that has everything you need, from restaurants and cafes to film festivals and theatres. These features place the city 1st in the “Il Sole 24 Ore” 2021 ranking.
In the city lies the MIB Trieste School of Management, a small business school where perks run big. The university’s leading specialised programme, the Master in Insurance and Risk Management (MIRM), is ranked fourth worldwide in the Eduniversal World Ranking and accredited by EFMD Global and ASFOR.
Top-quality faculty and manager trainers lead this programme’s industry-aligned curriculum. With their guidance, students develop world-class managerial approaches and leadership strategies that impress recruiters, local and international. The MIRM is flexible too, available in person or online, full-time or part-time. Students can customise their curriculum line-up and choose to complete it in one or two years.
More than 91% of students find jobs within six months of graduation. Simply put, the MIRM is your ticket to the dynamic and influential world of insurance, risk management, consulting, and financial services.
Students’ financial wellbeing is of utmost importance to the university. This is why the school takes pride in their affordable postgraduate programme. Plus, merit-based scholarships are available too. This is thanks to the institution’s sponsors and partner companies, which rely on the business school to train their future hires. Click here to discover more reasons why you should consider MIB Trieste School of Management’s MIRM.
Blekinge Institute of Technology Industrial Economics
Abundant forests and lakes. An awesome coffee culture. Skiing. Northern lights. If all these things in Sweden pique your interest, then you should consider studying at Blekinge Institute of Technology.
BTH has two campuses, both located by the sea, offering close proximity to nature. On campus, there are lecture halls and libraries, restaurants and cafes, student housing, a students’ union, and the unique opportunity to swim in the sea. It’s a place that provides both peace and quiet for study as well as opportunities for activities — an inspiring environment for students indeed.
More importantly, its Master’s Programme in Industrial Economics and Management (MIEM) is what you’ll need to be fully-ready decision makers who can tackle real-world challenges. Designed for professionally active engineers with working experience or those with a background in technical science education, the MIEM programme builds upon students’ previous technical education, teaching them skills to solve complex problems in any business. It runs for two years at half pace, where students study for four semesters across two years.
During the third semester, students can choose one of two specialised tracks: “Competition, production, and financial analysis” (Track 1) or “Marketing analysis, entrepreneurship, and strategy” (Track 2). Track 1 is suitable for students who want to develop skills in quantitative analysis and business optimisation. One of the courses included is the “Investments, Risk, and Uncertainty” course. On the other hand, students who wish to develop their knowledge and skills in strategy and business development should opt for Track 2.
As each course has different requirements and outcomes, there is no single format. The institution’s dedicated teaching team designs each course with diverse learning activities. Simply put, BTH strives to provide a high-quality education in all of its courses throughout the programme. Find out more on how you can boost your career with a BTH degree here.
SKEMA Business School
If you’re looking for a global business school that will challenge and develop your professional expertise to become decision makers, SKEMA Business School will prove to be a frontrunner. SKEMA is accredited by professional organisations, including EQUIS, AACSB and EFMD Accredited EMBA. Its programmes are recognised in France, as well as in the US, Brazil, and China.
Here, learning is driven by expert research. SKEMA’s programmes aim to develop students’ business knowledge and equip them with skills to help them thrive in the globalised economy. Its postgraduate programme, the Master of Science Corporate Financial Management is a programme taught across all campuses, giving students from all backgrounds the option to choose their preferred study destination.
The best part? Each campus has its own specialisation tracks: Fund Raising and Innovative Investments (Paris), Financial Advisory (Paris), Private Equity and Alternative Investment (Sophia Antipolis), Financial Risk Management — FRM certificate preparation (Belo Horizonte), and Digital Finance and Fintech (Suzhou).
No matter which campus students choose, the Master of Science Corporate Financial Management uses blended learning methods, which means class time is optimised for individualised guidance and discussion of the practical application of theories.
Many SKEMA graduates will go on to become financial managers, financial analysts, treasury managers, credit analysts, business development managers, internal auditors, to name a few. It prepares students to become decision makers of tomorrow who will excel anywhere around the world.
NHH Norwegian School of Economics
Zoom in on northern Europe and you’ll find Norway, the happiest country in the world and ranked repeatedly by the United Nations as one of the best countries to live in.
Its education system knows no bounds too. In 2018, the Norwegian government spent more than 6.6% of its GDP on education, compared to an average of 4.3% across other countries. These coupled with the low dropout rate in schools, low crime statistics, and high standard of living are few reasons why the country is so well-loved by students.
If you wish to pursue a world-class risk management education, look no further than NHH Norwegian School of Economics (NHH). Its MSc in Economics and Business Administration is ranked first in Norway for the best master’s degree programme.
The programme has various majors for students to choose from, including the Economic Analysis major for those who want to obtain a solid background to work as a specialist, advisor or manager within various lines of business and organisations. Students will transform into budding industry leaders with the ability to formulate precise questions about real world problems.
That’s not all. Students can choose to pair their MSc in Economics and Business Administration with NHH’s CEMS Master’s in International Management (CEMS MIM) programme too. They will become part of a global alliance, and obtain a powerful combination of theoretical knowledge and experiential learning that will launch their global careers.
Durham University’s Business School
Durham University’s Business School (DUBS) — one of the UK’s best institutions — is well-known for its impressive repertoire of academic excellence, outstanding research resources and successful graduates.
Because of its small city location, students are just a mere walk away from everywhere they need to be. There are many breathtaking ancient buildings around campus worth pausing for, including an 11th-century castle that was once a movie set for the Harry Potter series and is currently being used as student accommodation.
DUBS’s one year, full-time MSc in Finance (Finance and Investment) programme is designed to provide you with the tools, techniques, and knowledge at the frontier of financial research.
Taught by a world-class faculty and supported by international-quality research, this intensive programme will help students develop the analytical and practical skills required. Throughout the year, students have the opportunity to participate in extracurricular activities too, such as the Durham Speaker Series which provides students with the opportunity to network with senior business leaders, staff and alumni.
What sets DUBS apart is its partnership status with the Chartered Financial Analyst Institute (CFA). As the CFA is the world’s premier association for investment professionals and the accepted benchmark for technical excellence in financial markets, students are highly sought-after by many employers globally. They are guaranteed an education of the highest standards and are able to participate in the CFA Global Investment Research Challenge and CFA employer network events and scholarships.
*Some of the institutions featured in this article are commercial partners of Study International