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Risk Management
Risk Management has became one of the most popular and increasing field in the recent years. Risk is defined by the Insurance Industry “Is the probability that a loss may or may not occur.” While Risk Management is nothing but the identification, assessment, minimizing and potential elimination of various risks which affects the financial stability of an organization.
Risk Management jobs are expected to increase so much in coming years. National and International Government and Non-Government Organizations are focusing more and more on reducing damages happened due to natural calamities. This has opened altogether a new field of employment in Risk Management profession. There are lot of scope for the Indian professionals who hold a degree in Industrial Safety Management or Risk Management in this field.
Qualification Required
The candidates applying for the risk managers should have the following Qualifications:
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Having the degrees in business, finance and actuarial sciences.
- Have worked as commercial insurance underwriter
- Having the degree of MBA or of graduate level risk management
- Having related designations such as CPCU or in ARM
- Having prior experience as claim adjusters and managers in large Insurance organizations.
Additional Skill set required
Apart from the above qualifications the recruiter looks for the following additional skills:
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A candidate must have resistant to stress, decisiveness and flexibility
- Having basic management abilities
- Having physical energy and stamina
- Having an eye for detail and good problem solving
- Having good and tactful judgment skills.
- Having the ability to work hard and even for irregular hours
- Having the planning ability and skills of working under pressures
- Having a high degree of concentration level, responsibility and accountability
- Having practical intelligence to tackle the problems
Training for Risk Managers
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Entry level commercial underwriters positions:
Insurance companies hire such type of underwriters to assist more amounts of experienced risk managers. These companies pay for additional development opportunities which is a nice perk for those who wants to climb high quickly.
- Middle and upper level Bank Management positions:
The skills of a banker can easily transfer into risk management field.
- Chartered Property Casualty Underwriter Associated in Risk Management and Certified Risk Manager’s Designation:
While designation is not only the sole ticket for risk management, they are helpful in differentiate recommendations from their competitors while interviewing as the course work is so thorough and requires large amount of commitments.
- MBA in Risk Management:
Many colleges all over the country have open many graduate level programs for risk managers. This is very attractive programs as it provides many opportunities for internship.
Career Opportunities
Risk Management and Industrial Safety Management has opened many career option in the NGOs, manufacturing firms, establishment of constructions, hospitals, management consulting firms, public utilities, colleges, paramilitary organizations, defense, govt. institutes, and Research & Development organizations.
Apart from the above job opportunities, risk management has many opportunities in the following fields:
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Fire Protection Engineer:
In order to protect the people, property and operations from fire and explosions, the safety specialist uses the basic tools of engineering and science.
- Industrial Safety Managers:
In order to ensure that the working conditions and work methods are safe for the employees, many safety managers work in manufacturing and production operations.
- Industrial Hygiene Manager:
Industrial hygienist specializes in work’s exposure to chemical and physical hazards created by industrial units
- Environmental Safety Manager:
Safety manager recovers and recycle excess eliminated materials for environmental conservations.
- Safety System Engineer:
Safety system engineer develop new concepts, designs and products that have a high reliability of operation and low level of risk in the occupation related to Aerospace, military, medical, scientifically advanced projects and high tech industries.
- Risk Management Specialist:
In order to reduce the likelihood and size of losses and to pay for those which cannot be prevented from that losses Risk management specialist is appointed.
- Construction Safety Engineer:
They recognize and try to control safety, health and fire hazards in unique and ever changing work environment. The demand for safety engineer keeps on increasing as the construction is one of the most hazards process.
- Transportation Safety Engineer:
The safety professional plays an important role in maintaining safety in all forms of transport like- rail, road, auto, trucking, aviation, marine, and oil& gas pipelines.
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