Wealth Management Risk Managers

High School

In high school, take classes that help you to develop your communication skills (including those in English, speech, and creative writing), financial and business acumen (economics, mathematics, accounting, and business), computer skills (database management, computer and information security), and critical-thinking abilities (philosophy, history, and social studies). 

Postsecondary Education

You’ll need a minimum of a bachelor’s degree in risk management, insurance, accounting, finance, economics, business, computer science, or management information systems to work in risk management, although some employers prefer to hire those with graduate degrees. Be sure to augment your studies in one of these areas with classes in financial planning or wealth management so that you can obtain a working understanding of the financial aspects of the business.

Many colleges and universities in the United States and Canada—including Baylor University, Kent State University, Temple University, and the University of Pennsylvania—offer degrees in risk management. Visit https://www.aria.org/education/ for a list of schools that offer certificates and bachelor’s and graduate degrees in the field.

Other Education or Training

Professional associations offer a wealth of continuing education classes, workshops, and webinars that help risk managers keep their skills up to date. For example, the Global Association of Risk Professionals offers Foundations of Financial Risk, a class for entry-level professionals that details how banks operate, how they’re governed, and how they’re regulated. RIMS-The Risk Management Society provides webinars such as “Cybersecurity Risks in a Mobile Device and Internet of Things World” and “Continuity Risk Management: What Every Risk Professional Should Know.” The Public Risk Management Association and the American Bankers Association also provide professional development opportunities.

Certification

The Professional Risk Managers’ International Association offers the associate professional risk manager; credit and counterparty manager; market, liquidity, and asset liability management risk manager; and operational risk manager certificates. Visit https://www.prmia.org to learn more. The Institute of Risk Management offers the international certificate in financial services risk management to applicants who pass multiple-choice and written examinations. Visit https://www.theirm.org/qualifications/international-certificate-in-financial-services-risk-management for more information.