Risk Management is a field that focuses on identifying, analyzing, and evaluating the risks facing organizations, and developing strategies to manage and mitigate them. This major aims to provide students with the skills and knowledge necessary to protect assets, ensure business continuity, and achieve strategic goals. Here’s a comprehensive look at the key aspects of the risk management major:

Risk management basics:

• Understand the basic concepts of risk management and its types, such as financial, operational, strategic, and environmental risks.
• Study the risk management life cycle and its importance in institutions.

Risk identification and assessment:

• Learn how to identify potential risks using tools such as SWOT and PESTEL analysis.
• Assess the severity and likelihood of risks using techniques such as scenario analysis and probability tree analysis.

Developing risk management strategies:

• Develop risk mitigation strategies such as risk transfer, risk avoidance, risk acceptance, and risk reduction.
• Implement action plans to ensure effective handling of potential risks.

Financial risk management:

• Understand how to manage financial risks including market risk, credit risk, liquidity risk, and operational risk.
• Apply techniques such as hedging, diversification, and the use of financial derivatives to reduce financial risks.

Operational risk management:

• Analyze risks related to the organization’s daily operations, such as technical failures and human errors.
• Develop policies and procedures to mitigate operational risks and ensure business continuity.

Strategic risk management:

• Studying the risks related to the organization’s strategic decisions, such as entering new markets or launching new products.
• Develop contingency plans to deal with strategic risks.

Environmental and health risk management:

• Evaluating environmental and health risks related to the organization’s activity.
• Implement environmental health and safety programs to ensure compliance with legal standards and protection of workers and the environment.

Insurance and risk management:

• Understanding the role of insurance in risk management and how to choose appropriate insurance policies.
• Study how to evaluate and estimate potential losses and submit insurance claims.

Technology and risk management:

• Using technology to improve risk management processes such as risk management software and data analysis.
• Study the impact of digital transformations on risk management.

Laws and legislation related to risk management:

• Understand the laws and legislation related to risk management in various industries.
• Study how to comply with legal requirements and implement policies related to risk management.

Emergency planning and crisis management:

• Develop emergency and crisis response plans to ensure business continuity.
• Learn how to deal with crises and manage emergency response teams.

Quantitative and qualitative analysis of risks:

• Apply quantitative analysis techniques such as financial and statistical modeling to assess risk.
• Use qualitative analysis to evaluate the non-financial impacts of risks.

Risk management in projects:

• Identify and evaluate risks in specific projects.
• Develop strategies to mitigate risks and ensure project success.

Research and development in risk management:

• Participate in research to develop new techniques and methods in the field of risk management.
• Publishing research and participating in scientific conferences to share results and innovations.

Practical training and applied projects:

• Obtain practical experience through training in institutions and companies that focus on risk management.
• Apply theoretical knowledge in real business environments to develop practical and effective solutions.

The Risk Management major provides broad job opportunities in multiple fields such as financial services, insurance, healthcare, energy, industry, and consulting. This major contributes to providing students with the necessary skills to protect assets and achieve strategic objectives in a dynamic and changing business environment.