Risk Management Essentials

This course focuses on an enterprise approach to commercial risk management, including a discussion of global risk management standards and guidelines. Students will explore risk beyond the traditional hazard risk to include financial and strategic risks. Risk identification and analysis tools and techniques will be discussed in detail.

This course provides an overview of risk financing including how alternatives are examined in regards to all of an organizations risks. Techniques for estimating losses arising from hazard risk are examined. The student will explore the advantages and disadvantages of alternative risk financing techniques for hazard risk such as insurance, reinsurance, captive insurance and contractual risk transfer. Various methods for transferring financial and hazard risks to the capital markets are also discussed, along with how to allocate costs associated with hazard risk within an organization.

This course provides learners with an understanding of the assessment and treatment techniques for the major categories of risk, including both the traditional and emerging risks faced by all organizations. Students will explore assessment techniques, such as root cause analysis, that can be applied to an organizations risks (hazard, operational, financial and strategic). Students will also compare the benefits of various risk treatment alternatives.