Risk Management and Insurance Certificate
The Certificate in Risk Management and Insurance (RMI) provides the training that helps students become established and advance in a rewarding career in business. Completing the certificate is one way for students to ensure that their resume stands out among potential employers.
Offered through the Department of Finance, RMI course work provides students with a basic understanding of employee benefits, property and casualty insurance, life and health insurance, and corporate and financial risk management—knowledge vital for such positions as corporate risk manager, risk management consultant, and employee benefits manager.
Open to any UI undergraduate, the certificate has its strongest affinity among business majors (particularly finance), as well as mathematics and actuarial science majors. The institute provides dedicated scholarships, internships, and a student resource center for RMI students. There are numerous opportunities to network with industry leaders and hear special speakers through both the institute and its affiliated student organization Gamma Iota Sigma (GIS).
The RMI Certificate will benefit students seeking professional designations such as Chartered Life Underwriter (CLU), Chartered Property and Casualty Underwriter (CPCU), Certified Risk Managers, and Certified Employee Benefit Specialist (CEBS).
Juniors in any major at the University of Iowa, with 60 s.h. and minimum cumulative, UI, and prerequisites GPAs of 2.75, may apply for admission to the program. To complete the RMI Certificate, students take 24 credit hours of course work. Finance majors, with careful planning, may be able to complete the certificate by taking 12 credit hours instead of 24.
Before applying for admission, students generally must complete Managerial Accounting, Introduction to Financial Accounting, Introduction to Microeconomics, and Introduction to Macroeconomics. During the first semester of their junior year, students are strongly advised to take corequisites Introduction to Financial Management (6F:100) and Principles of Risk Management and Insurance (6F:102), which is the first of two core courses.
In addition to these corequisites, all students complete the core course Corporate Financial Risk Management (6F:104), and two of four insurance elective courses, and choose three noninsurance electives from a prescribed set of courses designed to broaden their understanding of management, negotiations, sales, fixed income securities, commercial banking, futures and options, and the real estate process.
Finance majors can specialize in RMI or choose to complement corporate and investments finance specialties with one or more RMI courses. Tippie College of Business students in other majors and students from other UI colleges may take RMI courses to gain an understanding of the important issues in this area as well as to increase their career opportunities.