Risk Management Certificate Course Descriptions

RM 501: Introduction to Risk Management
This online course offers an overview of risk management, including the concepts of risk, creating a risk management program, risk management history, current issues, trends, and career options. A holistic approach to managing risk, including developing vertical risk strategies and horizontal risk portfolios, is presented. The role and function of risk managers is addressed. The impact of the modern risk management to an organization is critically analyzed. Careers and professional designations are discussed.
RM 502: Creating a Risk Management Program
This course prepares the student to create an efficient and effective risk management program within an organization. Key concepts include the psychology of risk, risk planning and creating risk management goals, organizing a risk management department, working with brokers and other outside service vendors, and writing key risk management documents, including the organization’s risk philosophy, risk management strategies, and the risk management standard operating procedures manual.
RM 503: Risk Analysis
This course explores the myriad of risks faced by organizations, their likelihood and impact, and using data for forecasting future risks. Topics include an examination of risk classifications, risk identification methods, quantitative and qualitative analysis, and risk mapping. Case studies are used to enable students to develop practical risk analysis skills.
RM 504: Risk Control
This course investigates the many loss prevention and reduction techniques available for property, liability, human resource, and net income risks. Topics include an examination of risk control history, current practices to control risk, and creating a safety culture in an organization.
RM 505: Business Insurance
This course examines the principles of insurance, the components of an insurance contract, and the insurance market and reviews the typical commercial lines insurance policies. Topics include the principles of indemnity, utmost good faith, insurable interest, stock and mutual insurers, insurance intermediaries, and property, liability, and human resource lines.
RM 506: Alternative Risk Financing
This course explores the growing field of alternative methods of financing losses. Topics include retention methods of current expensing, reserving, and borrowing, plus an introduction to captives, reinsurance, securitization, and hedging.
RM 507: Risk Administration
This course completes the review of the risk management process. First, it examines the multiple techniques used in risk management to make decisions under uncertainty. Next, it reviews practical techniques for implementing a chosen portfolio of risk management techniques. Then, it reviews the risk management information systems (RMISs) currently available for risk managers. Finally, the course presents a format for preparing the annual risk management report. Topics include traditional risk management decision heuristics, net present value analysis, ethical decisions in risk, benchmarking, and multiple-attribute decision modeling.
RM 508: Enterprise Risk Management
This course examines the cutting edge of risk management enterprise risk management (ERM). This new concept is rapidly becoming the standard as the importance of risk management increases. Fueled by Sarbanes-Oxley and the requirement for risk transparency, boards of directors are focusing on understanding all of an organization’s risks and how they interact in a portfolio effect. Topics include strategic (vertical) risk management, holistic (horizontal) risk management, portfolio theory, and international risk management.