Edited By Julian Palacio
Review & Contribution By David Smith
Earn your Master’s in Enterprise Risk Management Online: Develop expertise in identifying, assessing, and managing risks. Enhance organizational resilience and strategic decision-making. Propel your career forward today!
In all human endeavors, risk is unavoidable. Risk management, defined as mitigating the likelihood of adverse events, helps protect stakeholders, society, and businesses by minimizing potential adverse impacts. In today’s corporate world, effective risk management necessitates expertise in statistics, finance, and data analysis. The Master’s in Enterprise Risk Management Online program, offered in both online and on-campus formats, equips students with the skills and knowledge to identify, assess, and mitigate organizational risks. This comprehensive program integrates finance, business, and management principles to develop a thorough understanding of risk management practices. Students learn to analyze financial, operational, strategic, and compliance risks and implement effective strategies. The curriculum covers risk assessment, crisis management, regulatory compliance, and quantitative analysis, preparing graduates for roles across finance, insurance, healthcare, and government sectors.
Table Of Contents
Featured Online Programs
FindBestDegrees.com is an advertising-supported site. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site.
Southern New Hampshire University
PROGRAM: Find Best Degree
Southern New Hampshire University is a private, nonprofit, accredited institution with more than 3,000 on campus students, over 170,000 online students, making it one of the fastest growing universities in the nation. Founded in 1932, we’ve been relentlessly reinventing higher education ever since and have gained national recognition for our dedication to helping students transform their lives and the lives of those around them.
We’re proud to provide affordable, accessible education that students can pursue on our 300-acre campus in Manchester, NH, or via our innovative online platform.
SNHU has earned the GetEducated.com Best Buy and Best of Business – Best Online Degree awards and is consistently ranked as a top Military Friendly® School by G.I Jobs®.
FindBestDegrees.com is an advertising-supported site. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site.
National University
PROGRAM: Find Best Degree
National University, headquartered in San Diego, California, was founded in 1971 to provide educational opportunities for adult learners and working professionals. It offers over 190 degree programs, including bachelor’s, master’s, and doctoral degrees, with flexible online and on-campus courses. Serving around 40,000 students and over 240,000 alumni, the university is recognized for its support of U.S. military members. Accredited by the WASC Senior College and University Commission (WSCUC), National University is committed to accessible and transformative higher education.
Find the Best Master’s in Enterprise Risk Management Online
Finding a good business school for an online and on-campus Master’s in Enterprise Risk Management is daunting. Students must evaluate quality, affordability, faculty expertise, and student-to-faculty ratio. Thorough research is essential to ensure the program aligns with individual needs and career goals, offering a comprehensive education in risk management practices. The teams at FBD have researched the best online and on-campus Master’s in Enterprise Risk Management using a proprietary methodology and compiled the following list.
| Univ | Address | Tuition | Grad Rate |
| Boston University | One Silber Way, Boston, Massachusetts 02215 | $63,798 | 90% |
Universities and programs are ranked by various factors, such as affordability, curriculum and coursework, reputation and availability, program length, statistics, the potential of employment, and return on investment for the students. For a more in-depth analysis, please read about our rankings methodology page.
What to Expect from a Master’s in Enterprise Risk Management Online Program
An Master’s in Enterprise Risk Management Online program equips students with the skills to identify, assess, and mitigate risks within organizations. This multidisciplinary curriculum covers risk modeling, insurance, crisis management, and regulatory compliance. Typically, the program requires completion of around 30-36 credits, depending on the institution. Students gain practical knowledge through case studies, simulations, and internships, preparing them for roles such as risk managers, compliance officers, and consultants. The program emphasizes strategic thinking and decision-making, ensuring graduates can handle complex risk scenarios in diverse industries. Successful completion positions professionals to effectively safeguard organizational assets and reputation.
Master’s in Enterprise Risk Management Online vs On-Campus Master’s in Enterprise Risk Management
An online Master’s in Enterprise Risk Management offers flexibility, allowing students to balance studies with work and personal commitments. Online students often access the same curriculum and expert faculty as their on-campus counterparts. On-campus programs provide in-person interactions, networking opportunities, and direct access to campus resources. Both formats equip students with skills in risk assessment, crisis management, and decision-making, but the choice depends on individual learning preferences and lifestyle needs.
Curriculum and Coursework
The online Master’s in Enterprise Risk Management curriculum offers a comprehensive framework for understanding and managing organizational risks. It focuses on strategic risk assessment, mitigation techniques, and decision-making processes. The program combines theoretical knowledge with practical applications, allowing students to develop skills to identify potential threats and create effective risk management strategies. This curriculum prepares graduates for leadership roles, ensuring they can navigate and protect organizations in an increasingly complex risk landscape. Here are some standard courses in a Master’s in Enterprise Risk Management Online program:
Enterprise Risk Management
In this course, students explore managing security and risk in public and private sectors to ensure uninterrupted operations. Topics cover operational and technological risk assessment, crisis management, and assurance strategy planning, emphasizing compliance and workforce impact on productivity in various organizational contexts.
Financial Concepts
This course covers essential accounting principles, financial analysis methods, and applications. Topics include financial statement analysis, time value of money, cash flow analysis, capital budgeting, and valuation of bonds and equity. The course emphasizes understanding financial metrics crucial for risk assessment and management strategies.
Quantitative and Qualitative Decision-Making
This course enhances business problem-solving and managerial decision-making. The course covers decision analysis, data collection, probability distribution, and evaluation methods. Students learn to apply quantitative and qualitative tools for informed decision-making across diverse management contexts.
The Innovation Process: Developing New Products and Services
This course explores strategies and methodologies for creating and managing innovation. Topics include idea generation, market analysis, product development cycles, and risk assessment in innovation. The course prepares students to drive organizational growth through effective innovation management.
Learning Outcomes and Skills Gained
An online Master’s in Enterprise Risk Management program provides thorough training in managing and mitigating risks within organizational contexts. It emphasizes practical strategies for assessing and responding to uncertainties that impact business operations. Students develop a nuanced understanding of risk management frameworks and regulatory environments, preparing them to make informed decisions and enhance organizational resilience in diverse business settings. Upon completion, students gain proficiency in:
- Advanced knowledge of risk assessment methodologies and frameworks for diverse organizational environments.
- Proficiency in identifying, analyzing, and prioritizing risks to facilitate effective decision-making and strategic planning.
- Expertise in developing and implementing risk mitigation strategies to enhance organizational resilience and minimize potential threats.
- Ability to interpret and navigate regulatory requirements and compliance frameworks relevant to enterprise risk management.
- Strong analytical and critical thinking skills essential for evaluating complex risk scenarios and recommending actionable solutions.
Types of Master’s Degrees in Enterprise Risk Management Online Students Can Obtain
Students pursuing an online Master’s degree in Enterprise Risk Management can choose from various specializations. These include a Master of Science (MS) in Enterprise Risk Management focusing on identifying and mitigating organizational risks and an MBA in Risk Management, blending business leadership with risk analysis and financial management.
Master of Science (MS) in Enterprise Risk Management
The Master of Science (MS) in Enterprise Risk Management focuses on identifying, assessing, and mitigating organizational risks. It covers areas like financial, operational, and strategic risk, equipping students with skills in crisis management, risk assessment, and regulatory compliance.
MBA in Risk Management
The MBA in Risk Management combines business leadership with expertise in identifying and managing risks. It focuses on financial, operational, and strategic risk, integrating business principles with risk assessment and mitigation strategies.
Areas of Specialization for Master’s in Enterprise Risk Management Online
Specializations enable students to focus on specific areas of interest and tailor their education to align closely with their career goals. Students gain specialized knowledge and skills that enhance their expertise by concentrating intensely on a particular domain. This targeted approach sharpens their understanding and prepares them more effectively for roles that require specialized knowledge in the professional world. Here are some specializations that students of an online Master’s in Enterprise Risk Management can pursue:
| Area of Specialization | Description | Career Options |
|---|---|---|
| Financial Risk Management | This specialization utilizes advanced quantitative techniques and strategic planning to effectively manage market, credit, and liquidity risks. Students acquire expertise in safeguarding organizational financial health, ensuring compliance, and improving decision-making in volatile economic environments. | Risk Manager Credit Risk Analyst Financial Risk Consultant Market Risk Analyst |
| Cybersecurity Risk Management | This specialization focuses on understanding and mitigating cyber threats within organizations. It includes strategies to protect data integrity, ensure regulatory compliance, and manage cyber incidents. This program emphasizes developing robust risk frameworks and preparing for cybersecurity challenges in today’s digital landscape. | Cyber Risk Analyst Information Security Manager IT Risk Consultant Security Compliance Specialist |
| Operational Risk Management | This specialization explores identifying, assessing, and mitigating risks that can disrupt business operations. It covers frameworks for managing risks related to processes, systems, and external events, emphasizing strategies to enhance organizational resilience and ensure continuity in a dynamic and unpredictable business environment. | Operations Risk Manager Business Continuity Manager Risk Assessment Analyst Enterprise Risk Officer |
| Strategic Risk Management | This specialization concentrates on recognizing and minimizing risks that affect long-term business objectives. It emphasizes evaluating potential threats to organizational strategy, aligning risk management with corporate goals, and creating frameworks to handle uncertainties, ensuring sustainable growth and a competitive advantage in an ever-changing market. | Strategic Risk Consultant Enterprise Risk Manager Risk Governance Specialist Strategic Planning Analyst |
| Supply Chain Risk Management | This specialization focuses on identifying and addressing vulnerabilities in the supply chain. It involves assessing risks from suppliers, logistics, and external disruptions and developing strategies to ensure continuity and resilience. This specialization aims to optimize supply chain operations in a volatile global market. | Supply Chain Risk Analyst Supply Chain Manager Logistics Risk Coordinator Procurement Risk Specialist |
Full-Time and Part-Time Programs
An Online and Master’s in Enterprise Risk Management offers full-time and part-time options to accommodate diverse student needs. Full-time programs typically span one to two years, providing immersive experiences with concentrated coursework. Part-time options enable professionals to balance studies with career commitments, usually extending over two to three years. Some universities also offer accelerated pathways, condensing program duration by intensifying coursework and allowing completion in as little as 12 to 15 months. Here’s a summary of completion timelines for an online and on-campus Master’s in Enterprise Risk Management :
- Full-Time Programs: Typically span one to two years.
- Part-Time Programs: Usually extend over two to three years.
- Accelerated Programs: Can be completed in as little as 12 to 15 months.
Accelerated Master’s in Enterprise Risk Management Online
Accelerated programs in higher education condense traditional coursework into a shorter timeframe, typically completed in 12 to 15 months. These intensive programs are designed to accommodate students seeking a quicker path to graduation without compromising academic rigor. They benefit students by offering focused, immersive learning experiences that propel career advancement sooner. Accelerated formats often attract working professionals and career changers looking to swiftly acquire specialized skills or credentials to meet evolving industry demands and career goals. Here is an example of a university that provides an accelerated online Master’s in Enterprise Risk Management program.
Requirements for Getting into a Master’s in Enterprise Risk Management Online
Admission into an Online Master’s in Enterprise Risk Management program involves navigating through comprehensive criteria set by universities, which generally align across master’s programs. While specific requirements may vary slightly between institutions, the overarching goal is to select individuals who demonstrate academic readiness and the potential to successfully manage and mitigate risks effectively within organizational settings. Common admission requirements for an online and Master’s in Enterprise Risk Management include:
- A bachelor’s degree from an accredited institution, often in business, finance, economics, or a related field.
- Transcripts showing a strong academic record, often with a minimum GPA requirement (typically around 3.0 on a 4.0 scale).
- Letters of recommendation from academic or professional sources.
- A statement of purpose outlining your career goals and reasons for pursuing the program.
- Resume/CV detailing relevant work experience, especially in risk management, finance, or related fields.
- Standardized test scores like GRE or GMAT (sometimes required, depending on the program).
- Some programs may require interviews as part of the admission process.
- International students may need to provide TOEFL or IELTS scores to demonstrate English proficiency.
No GRE Master’s in Enterprise Risk Management Online
The GRE (Graduate Record Examination) is a standardized test used by graduate schools to assess applicants’ readiness for advanced academic study. It measures verbal reasoning, quantitative reasoning, analytical writing, and critical thinking skills. Some colleges waive the GRE requirement to attract a broader pool of applicants, considering diverse academic backgrounds and professional experiences indicate potential success in graduate programs. Here are a few colleges that offer an online Master’s in Enterprise Risk Management with No GRE.
How to Ensure a Master’s in Enterprise Risk Management Online Is Accredited
Accreditation ensures that educational institutions and programs meet recognized standards of quality and rigor. For students pursuing an online and Master’s in Enterprise Risk Management, accreditation validates the program’s curriculum, faculty qualifications, and learning outcomes. It enhances the credibility and value of the degree, assuring that graduates have received a robust education that meets industry standards. Accredited programs also facilitate transfer credits, eligibility for financial aid, and acceptance by employers and other institutions. In risk management, accreditation is provided by the Association to Advance Collegiate Schools of Business (AACSB)[4].
Universities can also be accredited nationally or by one of six regional accrediting agencies:
- New England Commission of Higher Education (NECHE)
- Middle States Commission on Higher Education (MSCHE)
- Higher Learning Commission (HLC)
- Southern Association of Colleges and Schools Commission on Colleges (SACSCOC)
- Northwest Commission on Colleges and Universities (NWCCU)
- Western Association of Schools and Colleges (WASC) Senior College and University Commission (WSCUC)
Where to Find Free Online Courses for Master’s in Enterprise Risk Management Online Students
Free online courses offer accessible learning opportunities worldwide, covering diverse subjects from reputable institutions. While these courses provide valuable knowledge and skills, they often need more accreditation. However, many offer optional certifications for a nominal fee, which can enhance resumes and demonstrate proficiency in specific areas to potential employers. Here are a few free online courses that students can explore:
| Course | Description | Provided by |
|---|---|---|
| Enterprise Risk Management and Analysis[5] | This course explores external and internal drivers leading to organizational operational, financial, and strategic risks. It covers risk concepts, including positive aspects, and delves into theoretical foundations such as risk, volatility, uncertainty, complexity, and chaos. Additionally, it examines nonlinear dynamics systems theory, system theory applications, and the use of the ARCH model in financial markets. | Alison |
| Introduction to Risk Management[6] | This course covers essential terminologies, categories of risks, and various risk management approaches and tools applicable to organizations. It emphasizes the importance of risk management in identifying, assessing, and managing challenges critical to business success, providing valuable career insights. | Alison |
| Risk Management Tools and Practices[7] | This course covers essential risk sources, basis risks in futures hedging, cross-hedging, hedge ratios, and effectiveness. It also explores using stock index futures for portfolio beta adjustments, option strategies, ALM in commercial banking, balance sheet risks like funding and duration gaps, and economic, risk, and regulatory capital distinctions. | Class Central |
Ways to Pay for a Master’s in Enterprise Risk Management Online
Attending top online and Master’s programs in Enterprise Risk Management comes with substantial costs. High tuition fees, additional educational expenses, and ongoing price increases pose challenges for many prospective graduate students pursuing advanced education. Fortunately, there are ways for prospective students to manage and control costs while pursuing their educational goals without accumulating excessive debt. Here are a few ways students can fund their program:
Scholarships are financial awards granted to students based on academic achievement, financial need, or other criteria. They help alleviate the cost of education, making higher learning more accessible. Scholarships can be merit-based, need-based, or awarded for specific talents or backgrounds.
Grants are financial aids awarded to students based on financial need, academic achievement, or specific criteria. Unlike loans, they do not require repayment, making them essential for students pursuing higher education without accruing debt.
Graduate Assistantships
Graduate assistantships are positions within universities where graduate students work in research, teaching, or administrative roles in exchange for a stipend, tuition waiver, or both. They provide valuable professional experience and financial support while pursuing advanced degrees.
FAFSA, or the Free Application for Federal Student Aid, is a form students complete annually to determine eligibility for financial aid programs such as grants, loans, and work-study options offered by the federal government to help cover higher education costs.
Scholarships for Master’s in Enterprise Risk Management Online Students
The online and Master’s in Enterprise Risk Management scholarships are designed to support students by alleviating financial burdens and promoting academic excellence in a specialized field crucial to businesses. These scholarships offer opportunities for career advancement, networking, and the development of practical skills, thereby enhancing prospects for roles in risk management across various industries. Here are a few scholarships online and Master’s in Enterprise Risk Management students can explore:
| Scholarship | Description | Award/Amount | Application Deadline |
|---|---|---|---|
| Spencer Educational Foundation Scholarships[8] | The Spencer Educational Foundation Scholarships support students pursuing careers in Risk Management, Insurance, or Actuarial Science at accredited institutions in the US and Canada. Applicants should demonstrate a commitment to these fields through their academic focus, with preference given to those with relevant work experience and leadership abilities. | $10,000 | January 2025 |
| RIMS Anita Benedetti Student Involvement Program[9] | The RIMS Anita Benedetti Student Involvement Program sponsors 30 US and Canadian students, along with six international students not enrolled in North American universities, to attend the RIMS Annual Conference & Exposition. Supported by the Spencer Educational Foundation, it provides invaluable networking and educational opportunities in risk management. | Varies | December annually |
Career Opportunities and Salaries After Graduating
Graduates with an Online Master’s in Enterprise Risk Management can pursue diverse career paths across industries, leveraging their strategic risk assessment and mitigation skills. They often command competitive salaries reflective of their expertise and the demand for risk management professionals in global markets. This degree equips them with the knowledge to navigate complex business environments and contribute to organizational resilience and growth. Here’s a list of potential career paths for students graduating with an online and Master’s in Enterprise Risk Management Systems:
| Occupation | Skills Required | Skills Required | Median Annual Salary | Job Growth (up to 2032) |
|---|---|---|---|---|
| Management Analysts[10] | Management analysts, also known as management consultants, play a crucial role in advising organizations on enhancing efficiency and profitability. They achieve this by meticulously gathering and analyzing data, including financial reports, and proposing solutions or organizational changes. Many of these professionals work as consultants specializing in risk management. healthcare or government agencies may work independently or as part of a team, depending on the project’s scope and needs. | Communication, interpersonal, organizational, and problem-solving skills. | $99,410 | 10% (Much faster than average) |
| Emergency Management Director[11] | Emergency management directors develop and implement plans for responding to natural disasters and emergencies, coordinating with public safety officials, organizations, and government agencies. They assess risks, conduct training, and coordinate resources during emergencies, ensuring compliance with regulations and securing funding for preparedness and recovery efforts. | Analytical, communication, managerial, and problem-solving skills. | $83,960 | 3% ( as fast as average) |
| Financial Analysts[12] | Financial analysts advise on investments, evaluating stocks, bonds, and other opportunities to maximize profit. They study financial data, economic trends, and company performance, preparing reports and recommendations for businesses and individuals. Divided into buy-side and sell-side roles, they specialize in specific industries or markets, staying informed on economic shifts and regulatory changes that impact investments. | Analytical, communication, managerial, and problem-solving skills. | $99,890 | 8% ( faster than average) |
| Information Security Supervisor[13] | The Information Security Supervisor oversees developing and maintaining secure information systems and data. They implement security standards, conduct audits, and prepare for disasters and cyberattacks through training. Typically requiring a bachelor’s degree, they report to management and supervise para-professional staff, ensuring compliance with security protocols and resolving violations. | Communication, interpersonal, organizational, and problem-solving skills. | $131,251 | No Data Available |
Certifications and Licensing for Master’s in Enterprise Risk Management Online
Certifications in Risk Management validate the graduate’s abilities to effectively manage enterprise-wide risks and promote a resilient organizational culture. They enhance career prospects by showcasing specialized skills and expertise. These credentials distinguish individuals in competitive job markets, providing tangible proof of proficiency and commitment to professional development alongside academic qualifications. Here are a few certifications that graduates of an online and Master’s in Enterprise Risk Management can pursue:
Certified in Risk and Information systems Control (CRISC)[14]
The Certified in Risk and Information Systems Control® (CRISC®) certification equips professionals with expertise in IT risk management. It emphasizes proactive strategies to enhance business resilience, deliver stakeholder value, and optimize enterprise risk management. CRISC® prepares individuals for emerging technologies like AI, focusing on risk assessment, data governance, and ethical considerations.
Financial Risk Manager Certification[15]
The FRM certification, offered by the Global Association of Risk Professionals, is a distinguished credential for risk management professionals. It provides advanced expertise in risk assessment, analysis, and mitigation strategies. Employers highly regard FRM-certified individuals for their adept handling of financial risks, enhancing career advancement and industry influence within a global community of over 84,000 professionals.
Certified Risk Management Professional (CRMP)[16]
The CRMP certification is tailored for professionals with a specialized risk management background. It verifies the foundational knowledge and experience needed to effectively establish and oversee business risk management programs.
Additional Resources for Master’s in Enterprise Risk Management Online
Online Master’s in Enterprise Risk Management students can benefit significantly from joining professional associations to expand their industry knowledge and network with peers and experienced professionals. These associations offer access to conferences, workshops, and networking events where students can gain insights into current practices, participate in seminars, and establish valuable connections that enhance their understanding and career opportunities. Here are a few resources that online and Master’s in Enterprise Risk Management students can explore:
| Title/Resource | Description |
|---|---|
| Institute of Risk Management (IRM) | The Institute of Risk Management (IRM) is a leading professional body for risk management, recognized globally. It offers certifications, training, and networking opportunities to enhance skills and knowledge in risk management. IRM supports professionals across industries in navigating complex risk landscapes and advancing their careers. |
| Risk Management Association (RMA) | The Risk Management Association (RMA) is a professional association dedicated to advancing the use of sound risk principles in the financial services industry. It offers education, training, and networking opportunities to enhance risk management practices and supports professionals in navigating regulatory challenges and evolving industry trends. |
| Professional Risk Manager’s International Association (PRMIA) | PRMIA (Professional Risk Managers’ International Association) is a global non-profit organization governed by an elected Board of Directors. With 46 chapters worldwide, PRMIA fosters professional development and industry leadership in risk management. It integrates theory and practice, certifies risk managers, and promotes ethical standards while connecting professionals and advancing global risk management initiatives. |
| Risk Management Society | The Risk Management Society (RIMS) supports risk professionals worldwide through networking, professional development, certification, and advocacy. It serves over 200,000 practitioners from more than 75 countries with its 80+ chapters. Established in 1950, RIMS publishes Risk Management Magazine, hosts RISKWORLD, and promotes diversity and inclusion across its platforms, including the Risk Knowledge Library and RIMScast podcast. |
| GARP (Global Association of Risk Professionals) | GARP, the Global Association of Risk Professionals, leads the profession through education, research, and best practices promotion. It fosters a global risk community, advocates sustainability, and upholds values of respect, integrity, and transparency among its members and employees, setting standards for excellence in risk management education and practice. |
FAQs About Master’s in Enterprise Risk Management Online
Why should you do a Master’s in Enterprise Risk Management Online online?
Doing an Online Master’s in Enterprise Risk Management offers flexibility, allowing you to balance studies with professional commitments. It provides access to specialized knowledge and skills for advancing risk management careers. Online programs often integrate practical experiences and networking opportunities, enhancing learning outcomes and career prospects.
Does a Master’s in Enterprise Risk Management offer on-campus programs?
How long does it take to complete a Master’s in Enterprise Risk Management Online program?
What can you do with an Online Master’s in Enterprise Risk Management online?
What is the difference between a Master’s in Enterprise Risk Management Online and an MBA in Risk Management?
What education does one need to be a Master’s in Enterprise Risk Management Online?
Can I collaborate with fellow students and faculty in an online Master’s Risk Management program?
Is an online Master’s in Enterprise Risk Management worth it?
Citations:
Boston University Metropolitan College
Boston University Metropoliton College- No GRE
Association to Advance Collegiate Schools of Business (AACSB)
Enterprise Risk Management and Analysis- Alison
Introduction to Risk Management- Alison
Risk Management Tools and Practices- edX
Spencer Educational Foundation Scholarships
RIMS Anita Benedetti Student Involvement Program
U.S. Bureau of Labor Statistics: Occupational Outlook for Management Analysts
U.S. Bureau of Labor Statistics: Occupational Outlook for Emergency Management Director
U.S. Bureau of Labor Statistics: Occupational Outlook for Financial Analysts
Salary.com- Information Security Supervisor
Certified in Risk and Information systems Control (CRISC)