Bachelor’s in Risk Management Degree
Prepare To Identify, Analyze and Manage Risks in Organizations
Grand Canyon University’s Bachelor of Science in Risk Management program can prepare you for a future career working in risk management and insurance. This program was created to help students set themselves up for the opportunity to obtain jobs in risk, insurance, corporate finance and banking. Upon completion of this risk management degree, you may be able to identify, analyze and manage risks within an organization.
Benefits of Pursuing Your Degree in Risk Management From GCU
GCU offers risk management students a comprehensive business education that may be applicable to many industries and careers. Benefits of completing your risk management degree from GCU include:
- Completing a curriculum instilled with a Christian worldview, emphasizing the role of servant leadership in the workplace and conscious capitalism
- Earning your degree while embracing the three guiding pillars established by the Colangelo College of Business; servant leadership, ethics and entrepreneurism
- The option of multiple modality offerings to give you the opportunity to earn your degree in a format that best fits your lifestyle
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Risk Management Courses Offered in This Degree Program
In GCU’s Bachelor of Science in Risk Management program, you can learn about the risk management process including identifying and analyzing risk, understanding how risk impacts businesses/individuals and what mitigation techniques such as insurance may be available to protect assets. In addition, you can study organizational and enterprise risk management. Finally, you will be taught about the accounting cycle and the construction of financial statements, examine the market forces of supply and demand under different market structures, discuss the basic functions of the monetary system, analyze the macro economy in terms of long-run economic productivity and growth and in terms of short-run fluctuations, build financial models to help analyze a company and more.
To graduate from this 120-credit program, you must pass risk management courses. Course topics covered in this program include:
- Statistics for business
- Ethical and legal business issues
- Business finance
- Managerial accounting
- Behavior and management in organizations
- Risk management
- Principles of property and casualty insurance
- Principles of life and health insurance
Career Pathways for Risk Management Graduates
After completing GCU’s Bachelor of Science in Risk Management degree program, you will have the opportunity to be well versed in methods of mitigating and managing risk within an organization. BS degree in risk management graduates may go on to become:
- General and operations managers
- Financial managers
- Credit analyst
- Financial and investment analysts
- Insurance underwriters
- Financial risk specialists
Risk Management Degree FAQs
If you’re exploring a possible career in risk management, read through some frequently asked questions to learn more about this career path and earning your bachelor’s degree.
Incorporating risk management is important to the preparation of a business to mitigate and eliminate potential risks. It can help establish a structure for the company to promote sound decision making when identifying, avoiding or mitigating risks to keep the organization on track and profitable.
The U.S. Bureau of Labor Statistics Occupational Outlook Handbook estimates job growth for business and financial occupations to increase by about 7% from 2021 to 2031, about as fast as average for all occupations, accounting for an estimated increase of about 715,100 new jobs in the field.1
A risk management degree program involves a lot of critical thinking and analytical decision making, while also incorporating other important aspects of business such as marketing, employee benefits and technology systems. While certain aspects of the program can be challenging, it is designed to prepare you for a career dealing with planning and making difficult decisions in the workplace.
Completing your degree in risk management requires a total of 120 credits. When completing your risk management courses online, each course is typically eight weeks in length. On campus courses are typically 15 weeks each in length.
The salary you can earn from a career in risk management will ultimately be determined by your specific job title, company, location and other factors, but we can look at the median salary across the U.S. as an example. According to the U.S. Bureau of Labor Statistics, financial risk specialists had a median annual salary of $102,120 in May 2021.2
To learn more about enrolling in your risk management degree online or on campus at GCU, fill out the form on this page to get in contact with a university counselor.
1 COVID-19 has adversely affected the global economy and data from 2020 and 2021 may be atypical compared to prior years. The pandemic may impact the predicted future workforce outcomes indicated by the U.S. Bureau of Labor Statistics as well. Accordingly, data shown is effective September 2022, which can be found here: U.S. Bureau of Labor Statistics, Occupational Outlook Handbook, Business and Financial Occupations, retrieved on June 26, 2023.
2 The earnings referenced were reported by the U.S. Bureau of Labor Statistics (“BLS”), Financial Risk Specialists, as of May 2021, retrieved on June 26, 2023. Due to COVID-19, data from 2020 and 2021 may be atypical compared to prior years. The pandemic may also impact the predicted future workforce outcomes indicated by the BLS. BLS calculates the median using salaries of workers from across the country with varying levels of education and experience and does not reflect the earnings of GCU graduates as financial risk specialists. It does not reflect earnings of workers in one city or region of the country. It also does not reflect a typical entry-level salary. Median income is the statistical midpoint for the range of salaries in a specific occupation. It represents what you would earn if you were paid more money than half the workers in an occupation, and less than half the workers in an occupation. It may give you a basis to estimate what you might earn at some point if you enter this career. You may also wish to compare median salaries if you are considering more than one career path. Grand Canyon University can make no guarantees on individual graduates’ salaries as the employer the graduate chooses to apply to, and accept employment from, determines salary not only based on education, but also individual characteristics and skills and fit to that organization (among other categories) against a pool of candidates.
General Education Requirements
General Education coursework prepares Grand Canyon University graduates to think critically, communicate clearly, live responsibly in a diverse world, and thoughtfully integrate their faith and ethical convictions into all dimensions of life. These competencies, essential to an effective and satisfying life, are outlined in the General Education Learner Outcomes. General Education courses embody the breadth of human understanding and creativity contained in the liberal arts and sciences tradition. Students take an array of foundational knowledge courses that promote expanded knowledge, insight, and the outcomes identified in the University's General Education Competencies. The knowledge and skills students acquire through these courses serve as a foundation for successful careers and lifelong journeys of growing understanding and wisdom.
Requirements
Upon completion of the Grand Canyon University's University Foundation experience, students will be able to demonstrate competency in the areas of academic skills and self-leadership. They will be able to articulate the range of resources available to assist them, explore career options related to their area of study, and have knowledge of Grand Canyon's community. Students will be able to demonstrate foundational academic success skills, explore GCU resources (CLA, Library, Career Center, ADA office, etc), articulate strategies of self-leadership and management and recognize opportunities to engage in the GCU community.
Course Options
- UNV-112, Success in Science, Engineering and Technology & Lab: 4
- UNV-103, University Success: 4
- UNV-303, University Success: 4
- UNV-108, University Success in the College of Education: 4
Requirements
Graduates of Grand Canyon University will be able to construct rhetorically effective communications appropriate to diverse audiences, purposes, and occasions (English composition, communication, critical reading, foreign language, sign language, etc.). Students are required to take 3 credits of English grammar or composition.
Course Options
- UNV-104, 21st Century Skills: Communication and Information Literacy: 4
- ENG-105, English Composition I: 4
- ENG-106, English Composition II: 4
Requirements
Graduates of Grand Canyon University will be able to express aspects of Christian heritage and worldview. Students are required to take CWV-101/CWV-301.
Course Options
- CWV-101, Christian Worldview: 4
- CWV-301, Christian Worldview: 4
Requirements
Graduates of Grand Canyon University will be able to use various analytic and problem-solving skills to examine, evaluate, and/or challenge ideas and arguments (mathematics, biology, chemistry, physics, geology, astronomy, physical geography, ecology, economics, theology, logic, philosophy, technology, statistics, accounting, etc.). Students are required to take 3 credits of intermediate algebra or higher.
Course Options
- MAT-154, Applications of College Algebra: 4
- MAT-144, College Mathematics: 4
- PHI-105, 21st Century Skills: Critical Thinking and Problem Solving: 4
- BIO-220, Environmental Science: 4
Requirements
Graduates of Grand Canyon University will be able to demonstrate awareness and appreciation of and empathy for differences in arts and culture, values, experiences, historical perspectives, and other aspects of life (psychology, sociology, government, Christian studies, Bible, geography, anthropology, economics, political science, child and family studies, law, ethics, cross-cultural studies, history, art, music, dance, theater, applied arts, literature, health, etc.). If the predefined course is a part of the major, students need to take an additional course.
Course Options
- HIS-144, U.S. History Themes: 4
- PSY-102, General Psychology: 4
- SOC-100, Everyday Sociology: 4
Core Courses
Course Description
This course provides the foundation of core knowledge within the field of information technology. Topics include technology-centric organizations, the type and role of fundamental information technology systems, data management to include privacy and security, e-business and m-business, hardware, software, and computer networks.
Course Description
This course is an introduction to the accounting cycle and the construction of financial statements. Students explore the fundamental principles and practices of financial accounting as outlined by Generally Accepted Accounting Principles (GAAP); the steps in the accounting cycle from journalizing transactions through the preparation of financial statements; and the use and interpretation of the balance sheet, income statement, and statement of cash flows. Prerequisite: MAT-134, MAT-144 or MAT-154.
Course Description
This course is an introduction to the use of managerial accounting data in the decision-making process. Topics include the use of cost-volume-profit (CVP) analysis and relevant costs in decision making, using budgets and the balanced scorecard to evaluate performance, methods for setting prices of products and services, and analyzing capital investment opportunities. Prerequisite: ACC-250.
Course Description
This course provides an introduction to the practical application of descriptive and inferential statistics in business. Topics include probability, probability distributions, the central limit theorem, confidence intervals, hypothesis testing, correlation, and regression. Prerequisite: MAT-134, MAT-144, or MAT-154.
Course Description
This course develops the concepts of calculus through a wide variety of applications. Topics include limits, continuity, derivatives, antiderivatives, and integration. Prerequisite: MAT-154.
Course Description
This course focuses on the fundamental ideas of microeconomics. Students examine the market forces of supply and demand under different market structures in order to understand how economic agents make decisions about both consumption and production. The structure, conduct, and performance of markets are evaluated through analysis of consumer, producer, and societal welfare. Students explore the topic of factor markets in which the incomes of most workers and owners of capital and property are determined. Prerequisites: ACC-240 or ACC-250 and BUS-352.
Course Description
This writing-intensive course is a comprehensive study of the legal and ethical issues of concern to business, including those areas of the U.S. legal system that are most relevant to business, such as the law of torts, strict liability, intellectual property, and contract law. It explores the role of ethics and values in business decision making and approaches these subjects from the perspective of the stakeholders as opposed to an economic interpretation of the firm and its responsibilities.
Course Description
This course focuses on the national economy by examining macroeconomic data measuring national income, the cost of living, production and growth, and unemployment. Students examine the basic functions of the monetary system and analyze the macro economy in terms of long-run economic productivity and growth and in terms short-run fluctuations. The influence and effect of macroeconomic policy is studied within the context of current events. Prerequisite: ECN-361.
Course Description
This course introduces models and practices used by contemporary marketers in fast-paced, dynamic, domestic and global markets, including the marketing concept and processes for developing, implementing, and assessing the effectiveness of marketing plans. Building from a foundational understanding of consumer behavior and marketing research, students examine the development and implementation of marketing mix strategies and tactics with an emphasis of how marketing integrates within all aspects of business.
Course Description
This course is an introduction to managerial finance and the financial markets, analysis of financial statements, time value of money, interest rates, asset valuation, assessment of risk, cost of capital, and capital budgeting. Prerequisites: ECN-220, ECN-351, or ECN-361; and ACC-240 or ACC-250.
Course Description
This introductory course explores fundamental concepts in risk management and insurance. Students learn to identify and mitigate commercial and personal risks through the use of financial products, including insurance and other financial instruments. Prerequisites: MAT-251 and FIN-350.
Course Description
This course introduces models and practices used for engagement with customers, prospects, suppliers, and internal stakeholders and the communications strategies and tactics needed to build and sustain long-term and mutually satisfying relationships that add value in today’s economy. Customer Relationship Management (CRM) technology will also be introduced. Prerequisite: MKT-315
Course Description
Drawing upon real-world management situations, this course is a study of individual and group behavior in organizations through detailed coverage of the functions of management, individual differences/diversity, leadership, motivation, decision making, organizational design, and organizational change and development. Emphasis is placed on how an understanding of organizational behavior leads to effective management practice.
Course Description
This course introduces students to homeowners, renters, and auto insurance. Students identify and measure direct and indirect property loss exposures and the insurance coverages used to transfer such exposures. Commercial liability and property protection coverages are also explored. Prerequisite: FIN-350.
Course Description
This course applies risk management concepts to identify and analyze internal and external risks that affect businesses. The course includes in-depth analysis and quantification of an organization’s risk profile and explores numerous risk control methodologies as well as methods to finance an organization's risk through various techniques. Prerequisite: FIN-431.
Course Description
This capstone course is the culmination of study into the risk management discipline and provides students with an opportunity to develop and apply the risk management process to an organization. The course includes enterprise risk management (ERM) and organizational risk management (ORM) concepts. The ERM strategies are used to mitigate risks to support company objectives and pursue profitable growth. Prerequisite: RSM-465.
Course Description
This course explores life and health insurance. The principles of life and health insurance and their applications are discussed. Students learn how insurance products protect in the event of a death or medical issue. Prerequisite: FIN-350.
Course Description
This writing-intensive course serves as the capstone experience in business and management that includes the gradual development of a comprehensive and integrative business plan. This course is designed to assist students in their development as managers, servant leaders, and successful strategic thinkers. Management, marketing, accounting, finance, economics, global perspectives, law, and political issues are covered during this course. Prerequisites: MGT-420 or MGT-422HN; FIN-210 or FIN-350; and MKT-245 or MKT-315.
Join Grand Canyon University’s vibrant and growing campus community, with daytime classes designed for traditional students. Immerse yourself in a full undergraduate experience, complete with curriculum designed within the context of our Christian worldview.
Pursue a next-generation education with an online degree from Grand Canyon University. Earn your degree with convenience and flexibility with online courses that let you study anytime, anywhere.
* Please note that this list may contain programs and courses not presently offered, as availability may vary depending on class size, enrollment and other contributing factors. If you are interested in a program or course listed herein please first contact your University Counselor for the most current information regarding availability.
* Please refer to the Academic Catalog for more information. Programs or courses subject to change.