Undergraduate Major & Minor - Finance & Risk Management Insurance

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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

Finance and Risk Management Insurance Major Program Requirements & Course Descriptions

Minor Curriculum

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

Print Plan

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

Isaac McFall

I chose Finance & Risk Management Insurance because it combines my interests in math and problem-solving with the opportunity to make a real difference by helping people and businesses navigate risks. It's exciting to learn from industry professionals and discover how to use these skills to create solutions that protect and support others.

Isaac McFall, '27 BSB

Frequently Asked Questions

This major is about protecting a company’s future. You’ll learn how to identify potential risks—like market shifts or natural disasters— and find creative ways to safeguard a business and its assets. It’s about being the person who ensures a company stays resilient and successful, no matter what happens.
 

Our rigorous, hands-on curriculum balances essential business fundamentals with specialized risk management concepts. Following Impact Core, students dive into an analytical sequence of coursework, balancing foundational financial knowledge with practical applications. Key courses cover critical topics like Employee Benefits, Corporate Risk Management, Insurance Theory and Practice, and Options and Derivatives. Driven by real-world problem-solving, this coursework empowers you to analyze statistical data and design complex financial structures that keep organizations secure and resilient.
 

While a standard finance major focuses on growing wealth, this major focuses on defending it. You’ll master the same core financial principles but add specialized training in risk assessment and asset protection. You’ll be the one making sure the "engine" of a business doesn’t just run fast, but runs safely.
 

A major in Finance and Risk Management Insurance opens doors to high-impact leadership roles across diverse industries. Graduates regularly secure positions with top-tier firms like Travelers, Allianz, State Farm, and major banking institutions. You will step into the business world fully prepared to thrive as a corporate risk manager, risk consultant, underwriter, claims adjuster, insurance agent, loss control specialist, or chief risk officer. 
 

FIND MORE INVESTMENTS & CAPITAL MARKETS KEY CAREER INFO

  • 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.

Contact Undergraduate Program