5 Best Online Colleges with Online Degrees in Risk Management in 2023

No entity, business, or organization is exempted from risks. Eventually, they all must face situations or decisions involving various possibilities. The good news is risk management helps companies prepare for any unprecedented encounters.

Organizations use risk management to identify, assess, and control threats to their capital and profits. Assessment and management of risks are the best ways to prepare for potential obstacles to progress and growth for a business.

Online Degrees in Risk Management - fact

Featured Programs

There are many benefits of Risk Management. Most corporations and small or medium enterprises would invest in their risk management efforts. If you want to develop a skill set in demand in diverse industries, you might want to consider an online Bachelor’s in Risk Management degree.

Risk Management involves analyzing data and making recommendations to prevent company financial losses. Graduates of risk management programs can pursue careers in private conglomerates, banks, law firms, or consulting firms.

The Lowdown

Companies hire risk managers to evaluate and analyze their business or financial strategies. An online bachelor’s degree in risk management will help you develop the right Risk Management skillset that is in demand among various employers today. Managing risks is crucial to predicting profits and losses for any business. Finally, after fulfillment of an online degree in risk management, you can be hired in both private and public sectors dealing with risk management. 


Mitigating risks are made easier when you have the knowledge and skills in risk management. You can contribute more significantly to organizations and businesses by equipping yourself with an online Bachelor’s in Risk Management. Fortunately, many US colleges and universities are offering online counterparts for risk management degrees.

To make it easier for you, we have compiled a list of outstanding schools you can attend whenever convenient. These criteria were put into consideration in selecting each of our recommended online undergraduate programs in Risk Management:

  • Offered fully online or in combination with in-person classes for maximum convenience,
  • May offer students to pursue a particular Risk Management niche, featuring foundational to advanced coursework, 
  • Enhances students’ transferable skills for Risk Management careers, enabling them to succeed in real-world business settings, 
  • Live discussions, peer groups, and asynchronous lectures are facilitated through an innovative Learning Management System,
  • Taught by expert instructors with real-world insights and experiences in industries involving Risk Management as a core discipline,
  • Offers student services, including academic advising, internships, and other networking and career opportunities,
  • Helps online students reduce their tuition costs through financial aid options, scholarships, and transfer credits,
  • Regionally accredited.

Visit our Methodology page, which explains how our recommended online undergraduate schools and programs are selected.

5 Best Online Colleges with Online Degrees in Risk Management

Eastern Kentucky University

Eastern Kentucky University - Online

Online Bachelor of Science in Business Administration: Risk Management and Insurance

Eastern Kentucky University offers an Online Bachelor’s of Business Administration in Risk Management and Insurance. This online degree prepares students to become business leaders and gain a competitive edge in the job market.

With the versatile degree, you will have the opportunity to have a rewarding career and positively impact the lives of others. Graduates can take on important roles with rewarding salaries, open a business, or proceed to earn a master’s degree. 

This online accredited program combines theoretical and practical training. You can expect to take courses in risk management, principles of risk and insurance, and commercial property risk management.

What Makes this Program Unique:

You can pursue various challenging and financially rewarding careers with a Risk Management and Insurance degree. Students graduate with this degree with soft skills like problem-solving, decision-making, critical thinking, and communication skills.

Did You Know?

The number of credit hours students can transfer from accredited institutions is up to 90. Eastern Kentucky University requires 30 credits to complete this degree program.

Indiana State University

Indiana State University

Online Bachelor of Science in Insurance and Risk Management

The Online Bachelor of Science in Insurance and Risk Management degree is available at Indiana State University and has a 120-credit requirement. Students in this program take nine insurance and risk management courses, a core of business courses, and a foundation in liberal studies. You can earn a minor in insurance and risk management by completing 12-21 credits. 

Students should consult their advisors before planning a course program and ensuring prerequisites are met. There are minors and electives that you can choose freely in this online degree. Most of the online program’s faculty and professors are industry leaders collaborating on creating the Insurance and Risk Management Program.

What Makes this Program Unique:

In the past 25 years, the industry has invested almost $2M in the program for professional development and program development. Transfer students and first-year students are both welcome to participate in the program. It is possible to shorten the length of a program by transferring credits toward certain program requirements.

Did You Know?

The University’s Insurance And Risk Management majors have a strong placement record in the industry!

Grand Canyon University

Grand Canyon University

Online Bachelor of Science in Risk Management

Grand Canyon University’s Bachelor of Science in Risk Management program prepares graduates for work in Risk Management and Insurance industries after graduation. The Colangelo College of Business developed this program to prepare for careers in risk management, insurance, and corporate finance. Students who complete this program can identify, analyze, and manage risks within their organizations.

GCU’s Bachelor of Science in Risk Management program, students learn how to identify and analyze risks and how these may affect individuals and businesses. A huge part of the curriculum emphasizes mitigating them, including the insurance aspect for risk management.

As part of the course, online will also take financial and accounting courses, as well as study the forces of supply and demand under various market structures. 

What Makes this Program Unique:

All the coursework included in this online bachelor’s in risk management will prepare you to pave a career in different positions such as insurance agent, customer service specialist, loss prevention field representative, or sales agent.

Did You Know?

Grand Canyon University’s General Education curriculum focuses on developing graduates’ critical thinking skills. As for the liberal arts and sciences study, you can broaden your knowledge about human understanding and enhance your creativity. 

University of Houston—Downtown

University of Houston—Downtown

Online Bachelor of Business Administration Insurance and Risk Management

The Online Bachelor of Business Administration Insurance & Risk Management degree available at the University of Houston – Downtown will help you prepare to join an industry that offers numerous job opportunities. It is said that many domestic and international businesses are looking into mediating the risks associated with their operations and finances.

BBA students with a degree in Insurance and Risk Management have various opportunities to become industry leaders in this dynamic industry!

The school professors and staff can assist online students with evaluating different career paths, applying for internships, and securing jobs after graduation. A profession with diverse opportunities provides students with a lifetime of opportunities for educational and skill development.

Online students can brush up on their skills, such as underwriting, risk analysis, loss control, appraisals, financial management, and claims adjusting.

What Makes this Program Unique:

In order to ensure you have a successful career after graduation, you should go to a reputable college, which is what the University of Houston – Downtown provides. The risk management and insurance degree program is structured very well, so graduates with this online degree can be in demand among businesses and employers. 

Did You Know?

Anyone passionate about positively impacting the world will love the insurance and risk management industry. The industry’s maturity will lead to the retirement of 1 million insurance professionals within ten years or 43% of its workforce. This means that the demand for risk management majors will skyrocket around graduation, leaving you with plenty of job roles to fill.

University of Colorado—Denver

University of Colorado—Denver

Online Bachelor of Science in Risk Management

The University of Colorado – Denver has an Online Bachelor of Science in Business Administration in Risk Management & Insurance program. This is a combined 120 credits of liberal arts and business courses. There is high demand for this expertise because of the looming talent shortage, and the university can provide 100% placement to their graduates. 

In this online degree, graduates will thoroughly understand how to manage organizational and individual risks. Throughout this online program, they incorporate applied coursework. You’ll be surrounded by people finding their passion and making something of themselves. Their school’s location and flexible schedule allow you to pursue internships and class projects with hundreds of businesses in downtown Denver. 

What Makes this Program Unique:

Organizations in the public sector, the private sector, and non-profits employ Risk Management and Insurance professionals. It is a great honor for the CU Denver Business School’s RMI program to place 100% of its students. 

Did You Know?
  • Students can complete a Bachelor of Science and a Master of Science program in five years. The Master of Science program will be available to you after your third undergraduate year, and you will take two graduate courses in your final year as an undergraduate.
  • Their Business School has partnered with numerous companies, so you’ll be prepared to start your career in your dream company as soon as you graduate. As a result of their partnerships with contributors, our program offers unique opportunities to be part of the local community.
Skills Needed in Risk Management

Skills Needed in Risk Management

Business Understanding

Identifying and estimating the risks of an organization requires a thorough understanding of how it operates. Business aptitude is important for risk managers. To become a C-suite manager, risk managers must deeply understand business and its nuts and bolts.

Analytical Skills

Analyzing relevant data is essential to anticipating and assessing risk. As an effective risk manager, you must have good analytical skills to draw conclusions and base them on strategic decisions. Through good analytical skills, you’ll be able to identify data gaps and areas that need further investigation. 

Relationship-Building Skills

Building relationships is crucial for risk managers; they shouldn’t just do so with their immediate team members. Risk management requires working and communicating with others outside your company or circle. You must establish relationships with other departments and superiors.

Financial Knowledge

Business risk managers are responsible for identifying and mitigating financial risks. Most of the time, risks reflect the financial aspects of businesses. They must distinguish between controllable and uncontrollable risks. Major employers commonly seek risk managers with impressive academic credentials in Finance.

Problem-Solving Skills

Identifying risks and minimizing their impact are the top priorities of risk managers. In this process, a risk analysis should be performed. Problem-solving skills are necessary for risk managers to have at this point. You will need to apply strategies that can be developed to either eliminate or mitigate the risk. You must be willing to perform trial and error to see which solutions would work best. 

Possible Career Pathways for Online Bachelor's in Risk Management Graduates

Possible Career Pathways for Online Bachelor’s in Risk Management Graduates

Risk Management Analyst

As a risk management analyst, you will be responsible for assessing investment strategies and insurance. You need to reduce risk or at least evaluate different investment projects’ levels of risk.

Risk Manager

Your employer is probably a corporation or a consulting firm. Pursuing your own business and opening a risk management consultancy firm is also possible. In this role, you will develop and communicate risk models about operational risks, credit, finances, and analytical support.

Chief Risk Officer

Managing partner, managing director, or senior partner are all possible titles for this top management position. Chief Risk Officers typically represent the pinnacle of the risk management career ladder.

Their responsibilities are wide-ranging. In such cases, a top-down risk management framework might be implemented, insurance policies may be implemented, reports reviewed, and a specific strategy may be determined to match the firm’s goals. 

Credit Risk Analyst

Lending or borrowing comes with risks! For instance, there is a risk the lender won’t be repaid the principal and interest owed. The likelihood of someone not meeting their contractual obligations is difficult to predict initially. It is possible, however, to mitigate the potential damages if the possibilities are assessed and managed appropriately. Credit risk analysts assess and measure a borrower’s ability to repay the loan as the contract dictates.

Market Risk Analyst

Among the external factors businesses cannot control are economic breakdowns and interest rate changes, which can result in market risk losses. A market risk analyst should come into the picture to resolve this. These risk professionals help businesses understand the biggest risks threatening their markets.

Courses to Take in an Online Bachelor’s in Risk Management

Risk Management and Insurance

Risk management and insurance is a staple coursework that sets the foundation for your risk management expertise and skills. Teaching methods that incorporate risk into insurance decision-making is emphasized in this course.

Investment and Portfolio Analysis

Investment and portfolio analysis courses are usually taken during the upper semesters of your online bachelor’s degree. The course introduces learners to methods for analyzing investment portfolios to determine risk exposure and opportunities for risk mitigation.

Fundamentals of Accounting

This introductory course aims to introduce students to the accounting cycle and the financial statement. As most business risks involve finances, students need to learn accounting fundamentals. These concepts are then applied to specific accounting models, including financial and management accounting.

Strategies for Managing Risk

In this course, students will learn how to identify and manage financial risks. Several or all of the major classes of risks businesses face might be addressed in the content. For instance, you will tackle the risks involved in business operations, cash liquidity, economy, market, or business credits.

Introduction to Business Finance

When you take this course, you will focus on managerial Finance, preparation of business financial statements, capital costs, and asset management. Risk analysis is then used to analyze and mitigate these topics.

What is the expected salary for a Risk Management bachelor's degree?

Frequently Asked Questions

What is the expected salary for a Risk Management bachelor’s degree?

Risk Manager salaries in the United States range from $108,218 to $135,744 on May 25, 2023; the average pay is about $121,126 per year. However, it’s important to note that many variables can impact your salary pay.

For instance, you must factor in your education, work experience, and certifications earned. Soft and technical skills are just as important! Aside from risk management jobs, there are other career pathways to pursue with an online Bachelor’s in Risk Management. 

Graduates can work as a financial analyst and have an average salary of $95,570 annually. Financial analysts are risk management specialists in the banking and financial services industry. There’s a nine percent growth for financial analyst jobs in the next decade.

Is it worth it to earn a Bachelor’s in Risk Management?

Due to the growing demand for competent risk management professionals foreseen by academic institutions and professional organizations, many programs are structured in 100% online or hybrid formats.

A new generation of hazards has emerged with the advent of the digital economy. It is possible to obtain a better return on your investment by choosing an online risk management program. These learning options are generally more affordable than in-person programs, offering optimal flexibility and convenience.

What can graduates do with their Risk Management bachelor’s degree?

Bachelor’s degrees in Risk Management can lead to careers in Finance, insurance, consultancies, banking, and financial firms. Within each of these industries, graduates can choose from a wide variety of subpaths after gaining entry-level experience.

Underwriting, sales, claims adjustment, risk management, and loss control are among the many positions within the insurance industry. 

Business operations, Finance, capital markets, and credit are all areas in which risk management specialists work. By being equipped with an online bachelor’s in risk management, you can expedite your way to climbing the career ladder of success.

Pursuing careers in information security with a Risk Management degree and a computer science credential is possible. You can also combine this degree with other fields of study, such as involving life and health insurance, to achieve your long-term dream occupation.

What is the demand for Risk Management majors?

Given the rapid technological growth and innovation everywhere, modern businesses now may face greater risks. As business settings use the internet more frequently, there are increased risks associated with it.

Risk Management students and experts are uniquely positioned to help employers identify and manage complex risk environments. Losses are always possible, making enterprise risk management positions reasonably stable and in demand.

Summary Points

  • The objective of Risk Management is to identify, analyze, and respond to potential risks that surround a company.
  • Globally, corporations try to emerge as long-term winners in the face of global instability and uncertainty. To attain this goal, they need the help of professionals who hold a Risk Management degree online and can apply relevant global risk management practices to business situations.
  • Historically, the Risk Management department has always played an important role in aligning a firm’s growth objectives and anchoring progress through analytical, research, and modeling efforts. 

Additional Information: