No one has ever been able to tell when the uncertainty will arise from unexpected corners at the least expected hours, and when they do, it takes the grace of God and combined efforts of experts to help victims to get back on their feet without much damage to their businesses and finances. That’s why courses like risk management were put in place to help reduce the cost of damages caused by risks that are unpredicted.
If you have ever had it in mind to do something different with your career, to help and save others when they are almost drowning in the well of misfortunes, then you may consider studying risk management.
You can also consider taking risk management courses to give you an edge ahead in your business and financial life.
This article will help give answers to all questions you have been meaning to ask on:
What is risk management?
Why should I study risk management?
What can I do with a degree in risk management?
What is the average salary of a risk manager?
University and College in South Africa that offers Risk Management courses.
What are the best risk management courses in South Africa?
What is the institute of risk management in South Africa?
What is Risk Management Course?
Risk management courses in the line of study or discipline that focus on training its students on how to control uncertainty. It teaches to identify, assess and control risk in an effective way to make rational decisions.
Risk management courses train their students to get prepared for a problem ahead, in to plan accurately and make a proper budget for uncertainty to ensure risks are recognised and tackled effectively.
If you are already considering threading the path of being a risk manager, you are right on track. People take risks in everyday life. There are risks involving everything we do daily; in our business and finances. Learning to manage risks that arose from life and expectation, and putting proper measures in place, save a lot when things go unavoidably wrong. Risk management courses, when studied, could help you identify potential problems before they aggravate
It could also help you secure a well-paying job in a risk management career with companies and organizations that want to put proper measures in place to secure the life and existence of their businesses.
Risk management courses provide you with innovative and creative approaches to prevent damages or losses that arose as a result of risk.
It equips you with the knowledge that is needed to manage a business or financial risks.
What can I do with a Degree in Risk Management Courses in South Africa?
With a degree in risk management courses, you will be able to help organizations calculate and forecast their financial risks.
A risk manager is able to identify potential risks and threats, then put proper measures in place to minimize the negative impact of such risk.
As a risk manager, you can work as:
Risk consultant to organizations.
Claim investigator
Risk analytics
Insurance analytics
Loss control officer
Underwriting
What is the Average Salary of a Risk Manager in South Africa?
According to payscale.com, salaries of risk managers in South Africa are based on:
Certification
Levels
Experiences
Additional skills.
A risk manager with less than a year’s experience earns an average of R381,655k per annum which includes bonuses, tips and overtime pay.
Basic salary: R196k – R544k
Bonus: R9k – R175k
Profit-sharing: R4k – R58k
Total salary: R113k – R644k
A risk manager with two years and up to five years of experience earns an average total salary of R494,688k per annum.
Basic salary: R221k – R726k
Bonus: R13k – R103k
Profit-sharing: R10k – R95k
Total salary: R199k – R777k
A risk manager with five to nine years of experience earns an average of R616,262k total compensation per annum.
Basic salary: R254k – R808k
Bonus: R21k – R119k
Profit-sharing: R0k – R15k
Total salary: R255k – R865k
A risk manager with over ten years of experience earn an average of R633,660k per annum.
Basic salary: R258k – R977k
Bonus: R13k – R103k
Profit-sharing: R20k – R174k
Total salary: R259k – R1M
An experienced risk manager with over fifteen years of working experience earns an average of R626,000k per annum.
Basic salary: R339k – R1M
Bonus: R24k – R70k
Total salary: R271k – R1M
Universities and Colleges in South Africa that Offer Risk Management Courses
The University of South Africa offers varieties of postgraduate courses in risk management, ranging from Risk Management for Bankers, Enterprise Risk Management, Risk Financing, Credit Risk Management among others.
This is to enable students to develop a sound understanding of the concept of risk management and be able to demonstrate the knowledge of financial and business risks affecting organizations and individuals.
Read more on risk management courses at the University of South Africa.
University of Witwatersrand, Johannesburg offers a risk management bachelor’s degree program in Insurance and Risk Management. This program helps students to comprehensively understand the basis and essential knowledge in the Insurance and Risk Management field. See moreThere are also colleges and universities that offer short courses on risk management in South Africa. Click here for details.
What are the best Bachelor’s Degree in Risk Management in South Africa?
Here is a list of bachelors degrees in Risk Management courses in South Africa.
Insurance and risk management
Internal Auditing
Financial planning
Investment management
What is the Institute of Risk Management in South Africa (IRMSA)?
The institute of risk management in South Africa is the professional body of risk management in South Africa.
It is recognised by the South African Qualification Authority (SAQA).
The institute of risk management in South Africa represents individuals and organizations that are committed to the enhancement of the Risk management discipline.
It provides its members with:
Professional accreditation through various levels of membership.
Opportunities for networking and professional development through conferences, workshops and seminars.
Educational and professional opportunities through Institute of Risk Management South Africa (IRMSA) qualifications aid board Exams. Read more
Risk Management Courses in South Africa helps its students to identify potential risk, plan accurately and put proper measures in place to curb the negative impact of such risk. As a risk manager, you can work with organizations on their business and financial planning and earn average salaries of risk managers in South Africa which range between R381,655k to R625,000k per annum.
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