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At a glance: Risk Management and Insurance (RMI)
Did you know? ONU is the ONLY AACSB-accredited private institution to offer this degree option in the region.
Ohio Northern University is offering an exciting new major in risk management and insurance. Enter a dynamic field, work for yourself, earn a competitive salary and find direct pathways to an extensive career. No matter the industry, business involves some amount of risk. The role of the risk management professional is to help organizations understand, evaluate, prioritize and take action on all of their risks with a view toward increasing the probability of success and reducing the likelihood of failure.
Risks can involve uncertainty in financial markets, threats from project failures (at any phase in design, development, production or sustainment life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters, specific and deliberate attacks from an adversary, or uncertain events.
Risk management is key to ensuring key stakeholders (customers, shareholders, employees, investors, suppliers, etc.) that a business is being managed effectively and helps the organization confirm its compliance with corporate governance requirements.
Distinctive features and objectives:
- Prepares the next generation of business leaders to help organizations mitigate risk and maximize profits.
- Provides students with a solid foundation in understanding the concept of risk, the process of risk management and the field of insurance, including fundamental doctrines, historical background, social value, economic influence, loss exposures and protection, insurance regulation, insurance carriers, reinsurance, marketing, underwriting, and claims adjusting.
Bloomberg Businessweek has ranked the Dicke College of Business Administration first in Ohio and 74 in the nation for academic quality. Ohio Northern also earned high marks in the nine categories used for the rankings, including an “A” in the “Teaching Quality” category.
Nationally, there will be an estimated 5 million risk management/insurance jobs available between 2008-18. Ohio Northern University’s risk management and insurance major will help you get in on this emerging need and provide the path to a long, successful career. The starting salary for graduates is $40,000 and up. Current job titles include:
- Actuarial risk manager
- Credit risk manager
- Enterprise risk manager
- Health care risk manager
- Loss control manager