Bank examiners ensure their organizations follow appropriate protocols and ethical guidelines. These professionals require a strong understanding of regulations surrounding financial issues. They audit banking records, ensure company employees understand government and company regulations, and monitor financial transactions. Important skills include financial compliance, risk management, and banking. According to PayScale, bank examiners earn an average annual salary of $82,000.
Top Online MBA Programs in Risk Management
Students who graduate from a top online MBA program in risk management prepare to enter an exciting and potentially lucrative career field. Risk management can lead to a variety of paths, with opportunities across many industries. According to PayScale, risk management managers earn an average salary of about $94,000.
This page anchors students’ search with a ranking of the top Master of Business Administration degrees in risk management. It contains information on what to expect from an MBA in risk management, including possible curricula, benefits, career paths, scholarship opportunities, and useful professional organizations.
Online MBA Programs for You
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Top 5 Online MBA Programs in Risk Management
What Is an MBA in Risk Management?
The top online MBA programs in risk management prepare students for careers as bank examiners, credit analysts, forensic audit experts, and financial managers. The Bureau of Labor Statistics (BLS) projects a 16% growth in demand for financial managers between 2018 and 2028, far surpassing the national average.
Top online MBA programs in risk management build crucial skills in fraud prevention and detection. Students also develop strong critical thinking, decision-making, and leadership skills.
Why Should You Get an Online MBA in Risk Management?
MBA in risk management programs prepare students to handle organizational risk due to unstable markets, fraud, and liability issues. Online MBAs provide a flexible learning format that can strongly benefit students. Working professionals can fund their degree by earning a salary, while other students may choose programs that offer an accelerated path.
Organizations need risk management professionals to help them make important business decisions. By obtaining a top online MBA in risk management, students gain strong foundations in areas such as financial planning, strategic analysis, and IT management.
PayScale reports an average salary of $84,000 for graduates with an MBA in risk management. Entry-level risk management managers earn an average salary of $65,000. Those with five or more years of experience earn an average of $87,000.
What Can You Do With an MBA in Risk Management?
Senior Credit Analyst
Senior credit analysts assess client financial data, making recommendations on providing lines of credit to individuals and businesses. Crucial skills for senior credit analysts include commercial loan knowledge, financial analysis, and risk management. According to PayScale, senior credit analysts earn an average annual salary of $67,000.
Risk managers assess financial risks, safety risks, and other material concerns. Working with a single company or in a consultant role with many organizations, they perform financial audits and inspect working conditions to ensure regulatory compliance. They oversee risk management, seek solutions to ongoing issues, and ensure their company is up to date on current laws and policies. Required skills include data analysis, financial analysis, and project management. PayScale reports that risk managers earn an average salary of $86,641.
Financial managers assess their company’s financial data, monitor investments, and strategize ways to bolster their organization’s financial health. They deal with financial reports, prepare statements, oversee budget-related departments, and direct strategy. Titles may include controller, treasurer, and risk manager. According to BLS, financial managers earned a median salary of $127,990 in 2018.
Risk Management Director
Risk management directors oversee risk-related activities for their organization, including finances and liability. They collaborate with executives to mitigate risk by developing strong risk management programs. They supervise staff, analyze data, and track problems that arise. Crucial skills for risk management directors include leadership, internal auditing, and security risk management. PayScale reports that risk management directors earn an average annual salary of $115,000.
Online MBA in Risk Management Curriculum
Students enrolled in a top online MBA in risk management can benefit from a solid foundation in business administration and risk management skills. Curricula vary by program, and students should carefully research the school of their choice to ensure it offers the courses they need.
Ethics and Organizational Leadership
This course gives an overview of organizational leadership theory, emphasizing ethical challenges. Students learn policy-building skills, ethical issue analysis, and leadership.
In this class, students learn how money flows through an organization. Learners build skills in financial analysis, strategic planning, capital acquisition, and decision-making.
Fraud Prevention and Ethics
This course emphasizes strong ethical foundations in business as a means to prevent fraud. Topics include fraudulent behavior, fraud prevention programs, and fraud prevention theory.
Ritchie-Jennings Memorial Scholarship Program
Who Can Apply: Administered by the Association of Certified Fraud Examiners, this award is available to full-time students studying business administration, finance, accounting, or criminal justice in an accredited program.
Who Can Apply: Sponsored by the Federal Alliance for Safe Homes, the FLASH scholarships assist students studying various areas of risk management as it applies to natural disasters. One scholarship focuses on financial analysis.
Mary Elizabeth Lockwood Beneventi MBA Scholarship
Who Can Apply: Full-time business students in an accredited MBA program who hold a minimum 3.25 GPA qualify to apply for this award. The scholarship committee may consider renewing the reward with a reapplication.
Accounting and Financial Women's Alliance Scholarships
Who Can Apply: This scholarship benefits outstanding scholars in finance and accounting. Candidates do not need AFWA membership to apply for this award, though chapter sponsorship may impact application performance.
AfterCollege Business Student Scholarship
Who Can Apply: AfterCollege awards this scholarship to members who hold a minimum 3.0 GPA in a business-related program. Applicants submit a short essay detailing education, work experience, honors, and skills.
Professional Organizations for Risk Management
MBA students and graduates can take advantage of a wealth of benefits offered by professional organizations. By joining, risk management professionals can engage in active networking and continuing education opportunities. Professional organizations also distribute information such as industry news and resources. The list below offers a few examples of professional organizations for risk managers.
Dedicated to advancing the field of risk management through technology and education, RIMS serves its members through up-to-date information and best practices, a robust online community, free webinars, and mentorship opportunities.
Through research and education, GARP promotes advancements in the field of risk management. Members can access events and local chapters, online and in-person networking opportunities, industry news webcasts, and courses.
Serving financial professionals in the area of risk management, RMA deals with issues of market, credit, operations, and securities risk. Members can access local chapters, an online community, web seminars, workbooks, and career development resources.
Dedicated to advancing risk management practices through sharing information, PRMIA serves individual and corporate members through an online community, career center, worldwide events, and interest-based chapters.
Supporting finance directors, internal auditors, and insurance managers, Airmic offers regular training opportunities, a technical library, legislative advocacy, special interest groups, news, and an annual conference.
How We Rank Online MBA Programs
Want to know how we create our rankings? We assess schools based on academic quality, affordability, online flexibility, and student success.
Top Online MBA Programs in Risk Management for 2020
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