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Risk Management (ACTSC, ERM, R EST)

Description of the Risk Management major with Actuarial Science, Enterprise Risk Management and Real Estate options.

Welcome to the Risk Management Major with Three Options.

The Smeal College of Business offers the Risk Management (R M) major that is comprised of three options:  the Actuarial Science (ACTSC) option, the Enterprise Risk Management (ERM) option, and the Real Estate (R EST) option. These options meet the needs of current and future students interested in risk analysis in a variety of environments. The research and disciplinary focus of the Department is on risk assessment, mitigation and management connecting disciplines such as actuarial science, business law, decision analysis, insurance, international business, and real estate. Our expert faculty members teach in all of these areas enabling students to be exposed to a variety of approaches and disciplines as they prepare for careers in many private and public sector fields.

In addition, the Department is also home to the Institute for Real Estate Studies and the Smeal Office of International Programs.  Smeal also offers two of the most popular minors at the University, the International Business (I B) minor and the Legal Environment of Business (LEBUS) Minor.

Bachelor of Science degree in Risk Management (R M)

Risk Management is a rigorous program of study designed to prepare students for positions in production, finance or financial services (including actuarial science, risk management, and real estate), and government agencies that demand quantitative and qualitative skills needed to meet modern risk assessment requirements. Risk analysis touches a wide range of systems including management and control of enterprise risk, legal, political, economic, and property risk assessment.

Students in the Risk Management Major are required to elect one of three (3) options:

Actuarial Science (ACTSC), Enterprise Risk Management (ERM), or Real Estate (R EST). The added flexibility of selecting courses both within the Department and outside the College enables students to fine-tune their programs of study to meet personal and professional goals.

Actuarial Science (ACTSC) Option

This option stresses the application of mathematical and statistical concepts to the measurement of life and other risk contingencies, while at the same time giving students a broad understanding of the business environment.

Enterprise Risk Management (ERM) Option

Enterprise Risk Management is a senior corporate function designed to increase the value of a firm through the optimal treatment of risk. ERM encompasses a variety of risks, including strategic, financial, hazard, and operational risks. Students majoring in ERM are prepared to work in corporate risk management departments, risk management consulting, regulatory compliance, and a variety of financial services industries, including insurance, personal credit, and benefits management.

Real Estate (R EST) Option

A wide range of professional opportunities in corporate real estate management, real estate brokerage, appraisal, risk management, mortgage lending and banking, development and governmental service are possible for students in this option.