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Risk Management Rising in Popularity

Risk management has evolved from a very isolated, specialized skill, to become a multi-disciplinary engine of growth for companies. The use of risk management is now in all companies across all industries and is no more an obscure part of a relatively few companies. The discipline first started as integrated risk management and then grew in to enterprise risk management. These days, the discipline has grown to also include strategic risk management. This means the discipline has grown to be involved in the strategic decisions within a company.

Risk management is no longer a back-room operation and now plays a significant role in helping to inform the decision makers in the board room. The appeal for this discipline spans all industries and companies because it deals with a common element to both humans and companies alike: uncertainty. The main objective of risk management is to help people and organizations strategically confront and take calculated risks.

As more companies continue to adopt principles of risk management, the opportunities for risk management professionals will continue to expand. Opportunities for risk management professionals are more diverse and numerous at this time than they ever have been before, and we expect this trend to only continue and to grow.

In order for the industry to be able to handle the growth that is coming it’s way, risk management is going to need to accurately portray to a younger generation that opportunities that exist within the industry. There will be a need for more students and young professionals to pursue the career, and many of them many not even be aware of the possibilities that exist.

The industry will need the older, more veteran risk management professionals to guide and mentor those just now entering the field. As the field continues to expand, we expect more colleges and Universities to offer classes on the subject.