Finance and Risk Management Insurance
The Finance & Risk Management Insurance major applies theory to practice using principles of finance, law and mathematics in the transfer and reduction of risk for individuals, corporations and government.
Risk management is the practice of identifying the risks that affect a company's business, and finding ways to mitigate and offset those risks. Risk management tools and techniques help corporations deal with a wide variety of issues and legal concerns.
Major Curriculum
View the full Finance and Risk Management Insurance Major catalog:
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First-year students entering Fall 2022: Finance and Risk Management Insurance Major Program Requirements & Course Descriptions |
Students entering prior to Fall 2022 and transfer students entering prior to Fall 2023: |
Minor Curriculum
View the full Risk Management and Insurance Minor catalog:
Risk Management and Insurance Minor Program Requirements and Course Descriptions
Four-year Plan
Finance & Risk Management Insurance Major Sample Plan
The APAS is the official method for tracking the completion of your specific degree requirements. Please be aware that there are multiple ways for students to progress through this major. This is just one sample. Students should work with their advisor to develop their individual plan.
Italic: course pre-requisites and co-requisites (designated by &)
Bold: Liberal Ed requirement
Freshman Year
Fall Semester
- Econ 1165 Business Economics (Soc Sci) (4cr)
- BA 2551 Business Statistics in R (Math) (4cr)
- BA 1011 Leading Self & Teams (2cr)
- BA 1021 Design Your Life (1cr)
- Writ 1301 First Year Writing (4cr)
15 credits
Spring Semester
- Acct 2051 Financial Reporting (4cr)
- BA 2051 Solving Business Scenarios in Excel (2cr)
- BA 2062 Powerful Problem Solving (2cr)
- Design Your Career (1cr)
- BA 2005 Corporate Responsibility & Ethics (Civ) (3cr)
- Liberal Ed (3-4cr)
15-16 credits
Sophomore Year
Fall Semester
Maroon Block I-Core
- Mktg 3001 Principles of Marketing (3cr)
- IDSc 3001 Information Systems & Digital Transformation (3cr)
- BA 3001 Race, Power, & Justice in Business (RPJ) (3cr)
- Acct 3001 Strategic Management Accounting (3cr)
- BA 3051 Data-Driven Business Decisions (BA 2551 & BA 2051) (3cr)
15 credits
Spring Semester
Gold Block I-Core
- Fina 3001 Finance Fundamentals (Acct 2051 & BA 2551) (3cr)
- Mgmt 3004 Strategic Management (3cr)
- SCO 3001 Sustainable Supply Chain Management (3cr)
- HRIR 3021 Human Capital Management (3cr)
- BA 3062 Impact Lab Project (BA 2062) (2cr)
14 credits
Declare a major:
z.umn.edu/CarlsonDeclare
Junior Year
Fall Semester
- BA 3551 Business Analytics (BA 2551 & BA 2051) (3cr)
- Acct 5101 Intermediate Accounting (B- or better in Acct 2051 or passing the Acct5101 pretest) (4cr)
- Fina 4121 Financial Markets & Interest Rates (Fina 3001) (2cr)
- Fina 4321 Portfolio Management (Fina 3001) (2cr)
- Liberal Ed (3-4cr)
14-15 credits
Spring Semester
- BA 3033W Business Communication (3cr)
- Fina 4221 Corporate Finance (Fina 3001) (2cr)
- INS 4101 Employee Benefits (2cr)
- INS 4105 Corporate Risk Management (2cr)
- Liberal Ed (3cr)
- Elective (4cr)
16 credits
Senior Year
Fall Semester
- Fina 4422 Financial Modeling (Fina 4221 & Acct 5101) (2cr)
- Fina 4522 Options & Derivatives (Fina 4121, 4321 or concurrent) (2cr)
- Liberal Ed (3cr)
- Liberal Ed (4cr)
- Elective (4cr)
15 credits
Spring Semester
- INS 4205 Insurance Theory & Practice (2cr)
- Fina elective (2cr)
- Liberal Ed (3cr)
- Elective (4cr)
- Elective (4cr)
15 credits
Total Credits Needed for Degree: 120
Note: Students must complete an international experience as part of the program requirements. Short-term programs or semester-length programs may be used to meet this requirement. Explore your options: z.umn.edu/CarlsonIE
- Students may NOT earn a double major in Finance and Finance & Risk Management Insurance. They also may NOT earn a Finance minor with the Finance & Risk Management Insurance major.
Individuals who enter the combined field of Finance & Risk Management often find themselves analyzing the risk of accidents, incidents, and catastrophes. They are also responsible for monitoring large-scale issues and their impact on the economy. Once these risks have been identified, they look for ways to reduce the probability of occurrence. This career will regularly involve working with complex statistical and financial models to design and price insurance policies.
Sample careers for Finance & Risk Management Insurance majors:
- Corporate Risk Manager
- Risk Management & Insurance Consultant
- Claims Adjuster
- Loss Control Specialist
- Insurance Agent
- Chief Risk Officer
Companies/Orgs that hire Finance & Risk Management Insurance students:
- Travelers
- State Farm Insurance
- Ameriprise Financial
- Allianz
- Insurance companies
- Most banks including Wells Fargo and Huntington Bank