Risk Management & Insurance Major
The Risk Management & Insurance Major is designed to provide students with an understanding of the insurance industry and of the current academic and practitioner literature on financial risk management. In the Risk Management & Insurance major, students will explore the various functional areas of insurance company management, including investment and financing policies as well as pricing and underwriting activities. Students will also become familiar with the types of risks facing financial institutions, corporations, and individuals and learn how to measure and manage these risks. The Risk Management & Insurance major prepares students for careers in the financial services industry (insurance companies, banks, securities firms, and pension funds).
For additional information regarding professional certification requirements please visit https://www.sju.edu/disclosures
Goal 1: Risk Management Skills
Outcome 1.1: Students majoring in Risk Management & Insurance should be competent in assessing coverage in common insurance policies.
Goal 2: Critical Thinking Skills
Outcome 2.1: Students majoring in Risk Management & Insurance will learn to think critically and analytically in identifying, analyzing, and treating the risks of an organization.
Goal 3: Communication Skills
Outcome 3.1: Students majoring in Risk Management & Insurance will learn to make recommendations that are clearly and effectively supported by data analysis.
Outcome 3.2: Students majoring in Risk Management & Insurance will learn to communicate clearly and effectively in both written and oral form.
The traditional undergraduate programs includes a minimum of 120 credits distributed across three components: A General Education component divided into Signature Courses, Variable Courses, and an Integrative Learning requirement; a Major and Divisional component; and Free Electives. In addition to course requirements as specified in each area, students must complete one certified course in each of the following overlay areas1:
- Diversity, Globalization or Non-western Area Studies,
- Ethics Intensive
- Writing Intensive, and
- Diversity
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Overlay requirements are part of the 120 credit requirements
General Education Signature Courses
See this page about Signature courses.
General Education Variable Courses
See this page about Variable courses. Six to Nine courses
General Education Overlays
General Education Integrative Learning Component
See this page about Integrative Learning Component. Three courses:
| Code | Title | Hours |
|---|---|---|
| ECN 102 | Introductory Economics Macro | 3 |
| MAT 123 | Differential Calculus 1 | 3 |
| Students may take one additional course (excluding first year seminars) in the College of Arts and Sciences. | 3 | |
Business Foundation
Ten courses, including:
| Code | Title | Hours |
|---|---|---|
| ACC 101 | Concepts of Financial Acct | 3 |
| ACC 102 | Managerial Accounting | 3 |
| DSS 100 | Excel Competency | 1 |
| DSS 200 | Intro to Information Systems | 3 |
| DSS 210 | Business Statistics | 3 |
| DSS 220 | Business Analytics | 3 |
| FIN 200 | Intro to Finance | 3 |
| or FIN 225 | Fund of Quantitative Finance | |
| MGT 110 | Essent'ls of Organzational Beh | 3 |
| or MGT 120 | Essentials of Management | |
| MGT 360 | Legal Environment of Business | 3 |
| MKT 201 | Principles of Marketing | 3 |
| BUS 495 | Business Strategy 1 | 3 |
| or ACC 423 | Accounting Control Systems | |
| Total Hours | 31 | |
Free Electives
Six courses
Major Requirements
| Code | Title | Hours |
|---|---|---|
| RMI Core | ||
| RMI 200 | Introduction to Insurance | 3 |
| RMI 300 | Property and Casualty | 3 |
| RMI 301 | Corporate Risk Management 2 | 3 |
| Risk Management & Insurance Elective | ||
| Select one from any 300- or 400-level RMI course or DSS 370: 3 | 3 | |
| Intro to Probability in Insura | ||
| Insurance Company Operations | ||
| Insurance Law& Cyber Liability | ||
| Topics in Risk Mgt & Insurance | ||
| Underwriting | ||
| Enterprise Risk Management | ||
RMI 470 - RMI 479: Advanced Topics in Risk Management & Insurance | ||
RMI 493 - RMI 494: Individual Research in Risk Management & Insurance | ||
| Insurance Data & Analytics | ||
| Flexible Elective | ||
| Select one from any 300- or 400-level RMI, FIN, or REF course: 3, 4 | 3 | |
| Intermediate Finance | ||
| Investments | ||
| International Finance | ||
| Small Business Finance | ||
FIN 370 - FIN 379: Topics in Finance | ||
| Commerc Real Estate Valuation | ||
| Residential Loans& Investments | ||
| Applied Prob & Stats in Insura | ||
| Insurance Company Operations | ||
| Underwriting | ||
| Enterprise Risk Management | ||
RMI 493 - RMI 494: Individual Research in Risk Management & Insurance | ||
| Advanced RMI Elective | ||
| Select one from any 400-level RMI course: | 3 | |
| Underwriting | ||
| Adv Insurance Financial Models | ||
| Enterprise Risk Management | ||
| Alternative Risk Financing | ||
| Adv Topics: Risk Mgmt & Insura | ||
RMI 493 - RMI 494: Individual Research in Risk Management & Insurance | ||
| Total Hours | 18 | |
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All RMI majors must take at least one Calculus course ( MAT 123, MAT 155, MAT 161, or MAT 162) unless they have placed out with a 4 or 5 on the AP Calculus Exam or transfer credit in Calculus from another university. Students who complete the GEP Math Beauty requirement by taking MAT 155 can satisfy RMI ILC #2 with any course from the College of Arts and Sciences. The Finance Department recommends that students who satisfy the GEP Math Beauty requirement by taking MAT 161 take the second course in the sequence, MAT 162, as the second RMI ILC course. However, these students also have the option to take any course from the College of Arts and Sciences to satisfy RMI ILC #2.
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FIN 200 or FIN 225 and DSS 210 are prerequisites for RMI 301.
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400-level courses have one or more 300-level courses as prerequisites (see Course Descriptions for details).
- 4
A 300-level FIN course also satisfies one course toward the FIN Major and can be double-counted. Although a 300 or 400-level REF course can be taken as a Flexible Elective by a student majoring in RMI, REF courses cannot be double-counted in both the RMI major and the Real Estate minor. Thus, RMI majors completing the Real Estate minor cannot take a REF course to satisfy the Flexible Elective requirement.