Risk management is the identification, assessment and prioritization of risks that is followed by coordination and economic application of resources to minimize risk and monitor the probability and impact of unfortunate events or to maximize the realization of opportunity. The objective of risk management is to assure uncertainty does not deflect the endeavor from the business goals.
The certificate program helps students become well-rounded assessors of risk, ready to utilize their knowledge of mathematics, statistics, economics, marketing, business, finance and accounting in an insurance career.
The certificate requires 15 credit hours from the approved course list below, with the only required course being ACT 301. A grade of "C" (2.00 on a 4.00 scale) is required for all courses.
Required Course -- 3 credit hours
Electives (choose four) -- 12 credit hours
Prerequisite courses may be needed in order to complete the requirements of this certificate.
Students must hold a minimum GPA of 2.50 to pursue this certificate and have completed the following prerequisite courses at ASU or an equivalent institution with a grade of "C" or better (scale is 4.00 = "A"):
CIS 105 Computer Applications and Information Technology or equivalent
ECN 211 Macroeconomic Principles or ECN 212 Microeconomic Principles
MAT 210 Brief Calculus
STP 226 Elements of Statistics or ECN 221 Business Statistics
A student pursuing an undergraduate certificate must be enrolled as a degree-seeking student at ASU. Undergraduate certificates are not awarded prior to the award of an undergraduate degree. A student already holding an undergraduate degree may pursue an undergraduate certificate as a nondegree-seeking graduate student. Applicants should contact the unit for additional information.
Risk is a part of daily life and wherever there is risk, there are opportunities for actuarial intervention. Many actuaries work with insurance companies to calculate premiums, determine reserves needed to ensure an organization's financial health, and ensure organizations conform to stringent, complex legal mandates. Others help companies establish retirement plans or are employed as consultants.
Graduates with a certificate in analysis and management of insurance risk possess skills that are transferable to any industry and any organization that requires risk modeling and management, including:
- colleges and universities
- consulting firms
- energy, such as utilities, oil and gas
- environment (on issues such as the financial impact of climate change or risk of extreme events)
- financial services, such as banking and investment management
- government agencies such as Social Security, the Department of Labor and Medicare (to manage social programs and to develop regulations and legislation)
- insurance companies
- retirement and pensions
- transportation, such as shipping and air travel
They can also apply the advanced problem-solving skills learned in the analysis and management of insurance risk certificate program to a variety of other professional careers, including:
- business operations specialists
Students who complete this degree program may be prepared for the following careers. Advanced degrees or certifications may be required for academic or clinical positions.
Accountants and Auditors
- Growth: 4.4%
- Median Salary*: 78000
- Growth: 23.2%
- Median Salary*: 113990
- Growth: 3.3%
- Median Salary*: 128620
Claims Adjusters, Examiners and Investigators
- Growth: -3.1%
- Median Salary*: 72230
- Growth: -2.4%
- Median Salary*: 76230
- Growth: 18.3%
- Median Salary*: 77520
Financial Risk Specialists
- Growth: 8.2%
- Median Salary*: 102120
Security Management Specialists
- Growth: 4.1%
- Median Salary*: 75990
- Growth: 31.6%
- Median Salary*: 98920
* Data obtained from the Occupational Information Network (O*NET) under sponsorship of the U.S. Department of Labor/Employment and Training Administration (USDOL/ETA).
Program Contact Information
If you have questions related to admission, please click here to request information and an admission specialist will reach out to you directly.
For questions regarding faculty or courses, please use the contact information below.
Concurrent degree programs are specially designed academic programs which provide high-achieving undergraduate students the opportunity to complete two distinct but complementary bachelor degrees at the same time. Students must meet minimum admissions standards for both programs and be accepted individually by both colleges offering the concurrent program.
Accelerated bachelor's and master's degree programs are designed for high-achieving undergraduate students who want the opportunity to combine undergraduate coursework with graduate coursework to accelerate completion of their master's degree. These programs feature the same high-quality curriculum taught by ASU's world-renowned faculty.
ASU students may accelerate their studies by earning a bachelor’s and a master’s degree in as little as five years (for some programs) or by earning a bachelor’s degree in 2.5 or 3 years.
Accelerated bachelor's and master's degree programs are designed for high-achieving undergraduate students who want the opportunity to combine undergraduate coursework with graduate coursework to accelerate completion of their master’s degree. These programs, featuring the same high-quality curriculum taught by ASU's world-renowned faculty, allow students to obtain both a bachelor's and a master's degree in as little as five years.
Accelerated bachelor’s degree programs allow students to choose either a 2.5- or a 3-year path while participating in the same high-quality educational experience of a 4-year option. Students can opt to fast-track their studies after acceptance into a participating program by connecting with their academic advisor.
This is only the first required math course. This program may contain additional math courses; See Major Map for details.
The level of intensity represents a measure of the number and academic rigor of math courses required.
The level of intensity represents a measure of the number and academic rigor of math courses required. Courses included in the General level: MAT 142
The level of intensity represents a measure of the number and academic rigor of math courses required. Courses included in the Moderate level: MAT 117, MAT 119, MAT 170, MAT 210, SOS 101, CPI 200
The level of intensity represents a measure of the number and academic rigor of math courses required. Courses included in the Substantial level: MAT 251, MAT 265. MAT 266, MAT 267, MAT 270, MAT 271, MAT 272, MAT 274, MAT 275
To add a minor, please consult with the academic advisor for your major.
To add a certificate, please consult with the academic advisor for your major.
A rolling deadline means that applications will continue to be reviewed on a regular basis until the semester begins. International students should be mindful of visa deadlines to ensure there is time to produce necessary visa documents. Applicants are encouraged to complete and submit application materials as soon as possible for consideration.
A final deadline means that all applications and application materials must be received by Graduate Admissions by the deadline date. Applications that are incomplete may not be considered after the final deadline. Applications that are submitted past the final deadline may not be considered.
A priority deadline means that applications submitted and completed before the priority deadline will receive priority consideration. Applications submitted after the priority deadlines will be reviewed in the order in which they were completed and on a space available basis. An application is complete after all materials are received by Graduate Admissions.