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Potential Career Opportunities

A wide range of career opportunities are available in the fields of Risk Management and Insurance. Newly graduated BComm students are readily considered for risk analyst positions in many types of corporations, for claims or underwriting jobs, for management trainee positions in insurance companies, or to join financial planning, brokerage, benefits, and consulting firms. Take a look at some recent Risk Management employment statistics , or some organizations who have hired recent RMIN graduates.

In addition to the ongoing services of the Haskayne School of Business Career Centre, an annual Careers Days is held exclusively for Risk Management and Insurance and Risk Management and Insurance/Finance students.

This event is held late in the fall semester and starts off with a social sessions where students participate in small group discussions with employers. Over the course of Career Days employers give brief presentations describing the nature of their operations and types of positions available. On the final day of Career Days students and employers meet for interviews.

Here are some employment statistics from www.rims.org relating to Risk Managers:

Senior level Risk Manager
Average cash compensation - $99,000.00
75% earn $63,7500 or more, 25% earn more than $150,000
Average work week - 43 hours
50% have the CRM (Canadian Risk Manager) designation

Junior level Risk Manager
Average cash compensation - $80,000.00
75% earn $63,500 or more, 25% earn more than $93,500
Average work week - 43 hours
50% have the CRM (Canadian Risk Manager) designation, 25% have their CIP (Chartered Insurance Professional) designation

Claims Manager
Average cash compensation - $59,000.00
75% earn $55,000 or more, 25% earn more than $74,250
Average work week - 38 hours
56% have the CRM (Canadian Risk Manager) designation, 33% have their CIP (Chartered Insurance Professional) designation

Safety Manager
Average cash compensation - $70,000.00
75% earn $55,000 or more, 25% earn more than $80,000
Average work week - 41 hours
50% have the CRM (Canadian Risk Manager) designation

Risk Management Analyst
Average cash compensation - $48,000.00
75% earn $35,000 or more, 25% earn more than $61,100
Average work week 39 hours
38% have the CRM (Canadian Risk Manager) designation, 50% have their CIP (Chartered Insurance Professional) designation

Recent RMIN and RMIF Grads have been hired by the following Organizations:

  • Agra
  • Agrium 
  • Allstate Insurance
  • AON Reed Stenhouse
  • ATCO - Canadian Utilities
  • AXA
  • Chubb Insurance
  • Cenovus Energy 
  • Co-operators Insurance
  • Dominion of Canada
  • Federated Insurance
  • Fincor Financial Group
  • General Accident
  • Guardian Insurance
  • Intact Insurance
  • Marsh & McLennan Companies Inc.
  • Nexen
  • Petro Canada
  • Renfrew Thompson Insurance
  • Rogers Insurance
  • Royal & SunAlliance Insurance
  • Shell Canada
  • St. Paul Companies
  • Sun Life
  • University of Calgary
  • Wawanesa


Professional Designations

There are several professional designations available in the field of Risk Management and Insurance which allow RMIN grads to seek more specialization and further their careers.

RMIN students receive advanced standing toward some professional designations in the field of Risk Management and Insurance. Specifically, students graduating with a concentration in Risk Management and Insurance are granted credit for two courses toward their CIP designation and are permitted to challenge three more. BComm graduates receive up to six credits towards their FCIP. Negotiations are continuing to achieve similar recognition for U of C courses toward the CFP and CRM designations.

Students pursuing a BComm concentrating in Risk Management and Insurance may seek designations specializing in Life Insurance and Financial Planning, Insurance Professional, Risk Management, Employee Benefits, and Health Insurance:

Financial Planning and Life Insurance and

If you are interested in a career in financial planning, obtaining CFP certification demonstrates to your clients that you are committed to exemplifying the industry gold standard in financial planning. Earning CFP certification will equip you with all the skills, abilities and knowledge necessary to be a competent and ethical financial planner working directly one-on-one with clients.

Certified Financial Planner® certification is the industry gold standard in financial planning. CFP professionals are the largest identifiable body of licensed financial planners in Canada with over 17,500 individuals meeting the strict standards of this designation.

Since financial planning is not regulated in most Canadian provinces, anyone can call themselves a "financial planner"; but not everyone who refers to themselves as a planner is indeed qualified. In the absence of government regulation, Canadians seeking competent and ethical financial planning services should look for the CFP mark. CFP certification provides assurance that the planner is committed to internationally-recognized professional standards of competence, ethics and practice as set and enforced in Canada by FPSC.

These requirements include:

  • completion of education in financial planning;
  • successful completion of rigorous standardized examinations;
  • financial planning work experience; and,
  • an ethical commitment to put the client's interest first.

CFP professionals are also held to ongoing rigorous standards through FPSC's continuing education requirements and enforcement processes.

As a certifying organization, FPSC has committed itself to meeting the highest standards of performance. FPSC has received ISO 17024 accreditation by the Standards Council of Canada (SCC) for its role as the certifying body for the CFP certification program in Canada. This demonstrates that the CFP certification program has met the highest global standards for fairness and diligence, and that the CFP designation is conferred by a body worthy of the trust of consumers, industry and financial planners alike.

The following steps are required to achieve the CFP designation, for more information see: https://www.fpsc.ca/earn-certification

1. Core Curriculum 

2. Financial Planning Examination Level 1

3. Officially register with FPSC

4. Complete a minimum of 1 year work experience

5. Capstone Course 

6. Financial Planning Examination Level 2

7. Complete remainder of 3 year work experience

Advocis, in partnership with CCH Canadian Ltd., the leading professional publisher of reference materials in tax and financial planning, is offering an FPSC®-approved CFP education program. Students learn the fundamentals of building a comprehensive financial plan en route to becoming recognized as dedicated and highly ethical professionals with the required know-how to assist clients with their financial plans.

How the program helps you

The program, which boasts a combination of hard-copy study materials, online resources and mandatory testing after each module, has been designed to provide students with the required financial planning education needed to successfully complete the Financial Planning Standard Council’s (FPSC) examinations leading to CFP certification.

Our all-inclusive course registration provides access to supplemental content in the oneSource service offered by CCH as well as their FP Solutions, to help you prepare financial planning analyses. In addition, students have access to a number of self-testing exercises, including case studies and review questions.



Chartered Insurance Professional - Fellow

The CIP Program is the property/casualty insurance industry's professional education program. It is designed to equip each graduating student with a solid level of technical expertise and it is recognized throughout Canada and internationally. Every candidate writes the same qualifying examinations on the same day and under the same conditions.

The program has been designed and the content of the courses has been determined by committees of working insurance people. It is, therefore, the industry's own standard. Insurance people from the various sectors of the industry have written the text material.

Provided you have been fully employed in the insurance industry for at least one year, your name will be submitted to the Board of Governors for election as a Chartered Insurance Professional of The Insurance Institute of Canada. This will entitle you to use the designation CIP for as long as you maintain paid membership in your local Institute and the CIP Society.

Students who successfully complete the CIP Program should consider furthering their education in the Fellowship program . The CIP Program must be completed before Fellowship courses are started.

For more information visit: www.iic-iac.org

Risk Management

CRM (Canadian equivalent of the Associate in Risk Management) The CRM is awarded to students who have successfully completed three courses in risk management:

1. Structure of the Risk Management Process
2. Risk Control
3. Risk Financing

RF (RIMS Fellow) is awarded to students who have successfully completed the three courses in risk management as well as seven business and insurance related courses, such as:

* Business Administration
* Financial Accounting
* Statistics
* Business Law
* Claims Management
* Management Information Systems
* Commercial Property Underwriting
* Economics

For more information visit: www.rims.org

Financial Risk Management 

For those interested in a more financial focused designation, 

The Professional Risk Managers' International Association (PRMIA) offers:

The Professional Risk Manager (PRM™) designation is an independent validation of skills and commitment to the highest standard of professionalism, integrity, and best practices within the risk management profession.

See http://prmia.org/‎ for more information.

Additionally, The Global Association of Risk Professionals (GARP) offers two designations:

The Financial Risk Manager (FRM)

The Energy Risk Professional (ERP)

See http://www.garp.org/ for more information.

Employee Benefits

* CEBS (Certified Employee Benefit Specialist) designation and the Canadian program are co-sponsored by the International Foundation of Employee Benefit Plans and Dalhousie University in Halifax, Nova Scotia.

* REBC (Registered Employee Benefits Consultant) is administered by the Canadian Association of Insurance and Financial Advisors.

Health Insurance

* RHU (Registered Health Underwriter) are administered by the Canadian Association of Insurance and Financial Advisors.