The risk analysis and management process involve identifying, assessing, and administering the possible threat to the company’s assets and earnings. Multiple factors lead to this threat which are financial uncertainties, technology malfunctioning, security breaches, legal liabilities, management errors, natural disasters, etc. Therefore, companies, including MNCs, are recruiting risk analysts to prevent such menaces.Keeping the surging requirement of risk analysts in mind, universities worldwide are offering professional courses on risk management. In addition, several Risk Management Courses In Canada provide extensive knowledge dealing with risk management standards, risk –assessment, response, and treatment.
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Basic Eligibility Criteria for Risk Management Courses In Canada
The general requirement for pursuing a Master’s degree in Risk Management Courses In Canada is to have a GPA score of 3.0 out of 4.0 points. He or she must also hold a 4 years undergraduate degree in subjects like finance, financial accounting, investments, economics, engineering, business management, etc. The minimum requirement of a GMAT score for most Colleges is 550. However, these requirements vary across universities in Canada.
Best 5 Colleges for Master’s in Risk Management in Canada
Canada is the home to some of the finest learning institutions, imparting knowledge in various courses for decades. This blog highlights Canada’s top five colleges/Universities for Master’s degrees in risk management.
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Humber College, Toronto
With the establishment of world-class research infrastructure, Humber College in Toronto holds 6th place in Canada’s Top 50 Research Colleges. This course allows the students to gain complete knowledge on various areas of risk management like project management, insurance accounting and metrics, underwriting, loss adjusting, etc.
| Course Offered | Insurance Management – Property and Casualty |
| Duration | The full-time duration of the course is 1 year. |
| Annual Fee | The annual fee for the programme is CAD 18,054. |
| Eligibility Criteria | 1. To be eligible for admission, candidates must have a bachelor’s degree, advanced diploma or any diploma course. 2. Candidates applying must hold a degree/certificate of two years of studying in a recognised university degree program where English is the main language of communication. 3. The minimum requirement for a TOEFL score is 80, and the IELTS Academic Test is 6.5, with no band less than 6.0. |
| Scholarship Programme | Under the Degree Entrance Scholarships, students with an 80% GPA will be awarded CAD 1,887 for a certificate program on a one-time basis. Similarly, approximately CAD 3,145 is awarded to students for diploma courses. |
University of Toronto
The University of Toronto is one of the best places for pursuing Risk Management courses in Canada. This institution offers ample opportunities for learning and discovery and has been ranked 4th in QS WUR Ranking by Subject.
| Course Offered | Master of Financial Risk Management |
| Duration | The duration of this programme is 10 months. |
| Annual Fee | The annual fee for the programme is CAD 66,670. |
| Eligibility Criteria | 1. Candidates should hold a 4-year undergraduate degree from a recognised organisation in subjects like business, commerce, economics, engineering, mathematics, actuarial science, etc. 2. Students with a higher GPA of at least 3.0 out of 4.0 points in quantitative subjects are preferred. 3. A minimum level of knowledge in Python will add preference. 4. The requirement for a TOEFL score is 100, and IELTS Academic Test is 7.0 with a minimum of 6.5 in all bands. |
| Scholarship Programs | 1. CAD 3,144 to CAD 17,775 is granted to students under the GRI Entrance Awards. 2. Approximately CAD 12,305 is awarded to female applicants under GRI Women in Risk Management Entrance Award. |
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Memorial University of Newfoundland
According to the Times Higher Education, Memorial University of Newfoundland is ranked 601 in the World University Rankings 2021. Furthermore, this university holds a National Rank of 24 for its academic excellence.
| Course Offered | Safety and Risk Engineering |
| Duration | The duration of this course is 1 year. |
| Annual Fee | The annual fee for the programme is CAD 2,150. |
| Eligibility Criteria | 1. The minimum academic requirement for this course is to achieve a second-class engineering degree from a recognised university. 2. The minimum requirement for a TOEFL score is 80, and that of IELTS is 6.5. |
| Scholarship Programme | 1. Under the Entrance Scholarship, a value of approximate CAD 5,060 is granted to each student as per eligibility. 2. Furthermore, the top-ranked students are awarded CAD 1,365 to CAD 2,050 approximately, under the In-Program Scholarships. |
York University
York University is one of the finest of the top three institutions in Canada for its stellar contribution to research and academics. Moreover, it is ranked 21 among the top 100 universities globally.
| Course Offered | Financial Accountability |
| Duration | The duration of the course is 2 years. |
| Annual Fee | The annual fee for the programme is CAD 12,554. |
| Eligibility Criteria | 1. Students should hold a 4-years Honours Bachelor’s degree in business with the least average of B. 2. Students who have a 4-years Honours Bachelor’s degree in another field must obtain an average of B and also must have at least two years of professional expertise. 3. The minimum requirement for an IELTS score is 7 and for TOEFL is 90-91. Additionally, the least CPE score should be C1, and the CAE score should be C. |
| Scholarship Programme | The students are allowed a fee waiver of approximate CAD 100. |
Fanshawe College
The Fanshawe College in Canada is run by the Government and holds No. 1 place out of 23 Ontario colleges for imparting quality knowledge in various educational fields. In addition to this, out of 199 global institutions, Fanshawe College ranks in 2nd place.
| Course Offered | Insurance and Risk Management |
| Duration | The duration of the course is 1 year. |
| Annual Fee | The annual fee for the programme is CAD 15,712. |
| Eligibility Criteria | 1. Students who hold 2 to 3 years of University Diploma or Degree with an average minimum of C+ or a total GPA of 2.5 are eligible for this course. OR, Candidates possessing at least 5 years of professional experience in banking, financial service or insurance industry as approved by the University Authority OR, Students who have the relevant work experience and post-secondary academic degree as approved by the College 2. The minimum requirement for a TOEFL score is 88, and the IELTS score is 6.5, with a minimum band of not less than 6.0. |
List of Documents Required for Risk Management In Canada
Students looking to participate in the admission drive for Risk Management Courses In Canada must maintain the following set of authentic documents.
- Transcript documents of academic qualification
- Authentic scorecards of IELTS/ TOEFL/ PTE/ DET/ CAEL tests
- Curriculum vitae or Resume
- Letter of recommendation
- Statement of purpose/intent
- Work experience certificates, if needed
Admission Process for Risk Management Courses In Canada
The university admission process for Risk Management Courses In Canada involves filling up the application form through their official websites. In addition, students will have to upload the scanned documents and make the payment of application fees.Upon completing the initial screening, the students will be asked to appear for an interview which the admission committee will conduct. However, different Universities have set their admission guidelines which students must abide by for successful completion of enrollment. Canadian Universities are booming with bright career opportunities and lucrative options for personal growth. Anyone interested in building their career in top-grade companies as a risk analyst must consider Risk Management Courses In Canada.
Frequently Asked Questions
What is the duration of Risk Management Courses In Canada?
The duration of the Risk Management Courses In Canada varies across Universities’ curriculum policies. However, normally it ranges from 1 to 2 years.
What are Canada’s best colleges/universities for risk management courses?
Some of Canada’s best colleges/universities for risk management courses are York University, University of Toronto, Humber College, etc.
How to become a Risk Manager in Canada?
To become a Canadian Risk Manager (CRM) the candidate needs to complete the three foundational courses. Then pass the Standardized test administered by the Global Risk Management Institute (GRMI) and pass an additional course exam administered by the Insurance Institute.
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