Risk management is the process of identifying, measuring, and treating property, liability, income, and personnel exposure to loss. A risk management intern can gain an in-depth understanding of risk management, working across industries, and responding to client requests. They actively contribute to deals and financing transactions and participate in all other aspects of client credit management.
A risk management intern's key responsibilities will include assisting the risk manager in designing and implementing an overall risk management process. They also help perform risk assessment, risk reporting, maintenance of records of insurance policies and claims, and review new contracts. Since this is an internship, no prior work experience is required. Although, typically, students undertake internships in the process of completing their bachelor's or master's degree. This internship is beneficial for majors such as risk management, business studies, finance, economics, and similar fields.
Most internships pay internees next to nothing; however, this one is worth it. In addition to gaining insights into the professional world, you will earn $15.29 an hour.
There is more than meets the eye when it comes to being a risk management internship. For example, did you know that they make an average of $15.39 an hour? That's $32,001 a year!
Between 2018 and 2028, the career is expected to grow 16% and produce 104,700 job opportunities across the U.S.
There are certain skills that many risk management interns have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed organizational skills, math skills and detail oriented.
When it comes to the most important skills required to be a risk management internship, we found that a lot of resumes listed 25.6% of risk management interns included risk management, while 8.1% of resumes included powerpoint, and 6.2% of resumes included data analysis. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the risk management internship job title. But what industry to start with? Most risk management interns actually find jobs in the finance and health care industries.
If you're interested in becoming a risk management internship, one of the first things to consider is how much education you need. We've determined that 74.7% of risk management interns have a bachelor's degree. In terms of higher education levels, we found that 17.8% of risk management interns have master's degrees. Even though most risk management interns have a college degree, it's impossible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a risk management internship. When we researched the most common majors for a risk management internship, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on risk management internship resumes include associate degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a risk management internship. In fact, many risk management internship jobs require experience in a role such as internship. Meanwhile, many risk management interns also have previous career experience in roles such as finance internship or volunteer.