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Why Risk Managers Are Rushing to Earn Advanced Legal Degrees

Risk is a common occurrence in business. Organizations are constantly preparing to confront the next crisis, so it makes sense that this is a primary responsibility of a risk manager. The ability to identify and assess the possible risks to an organization’s capital, earnings, and reputation are imperative.

In any organization, there is seldom room for guessing how to circumvent risk. Professionals must be able to assess risk properly, and organizations cannot afford to shoulder the consequences if they do not. A wide range of industries need to maintain and sustain risk through inventive and thoughtful assessments of enterprise risk. This includes frameworks related to economic, social, and governance matters.  

In response to this increasing need, it is not surprising that many risk managers desire to pursue a Master of Legal Studies in Compliance and Risk Management.  

The ability to effectively manage risk is a sought-after skill that’s transferable to a myriad of industries, opening up exciting job opportunities for the ambitious and willing. 

Advantages of a Legal Risk Management Background

Many legal experts agree that managing risk is a vital component of business practice. To understand these risks, managers who find themselves in charge of risk evaluation have to be aware of legal risks present in every area of a company. These can affect all aspects of a business, including shareholder management, contracts, workers’ compensation laws,  regulatory systems, and more.

The ability to understand broader business issues — informed by a solid legal education — is a sought-after skill. Many businesses prefer managers to hold advanced degrees. 

There is a growing demand for risk managers who bring a combination of analytical and leadership skills as well as ample understanding of the regulatory landscape. They make ideal employees for any company. 

Seattle U Equips Risk Managers for the Future

This is where an effective educational degree program is particularly useful. Managers who possess the education to avoid future liabilities for their businesses can prove their value A substantive compliance program can equip professionals with the ability to:

  • Easily and effectively identify, manage, and mitigate risks through the lens of the law.
  • Create a legal risk control and prevention plan.
  • Help with the maintenance of positive relationships with law firms,  insurance brokers, and industry influencers, regulators, and legislators. 
  • Develop a clear understanding of the law, including related legal cases and broader regulations and policies that can impact the company.

There is a shortage of professionals qualified in these areas. Those who can offer a combination of management and legal comprehension skills are valuable. 

With Seattle University School of Law’s specialized master’s degree, graduates can demonstrate their ability to bring value to their company. 

A Master of Legal Studies in Compliance and Risk Management 

Seattle U Law’s online  Master of Legal Studies in Compliance and Risk Management delivers exceptional training from respected industry leaders. The University adheres to the Department of Justice (DOJ) and other government agencies’ recommendations of a substantive compliance program. 

Regardless of students’ career goals, our online program equips graduates to lead compliance efforts within any organization. Depending on their professional goals and interests, students can choose to specialize in the following areas:

The online MLS program prepares graduates to confidently navigate complex regulatory scenarios with a functional knowledge of the law, helping them become industry leaders takes extensive training and preparation to ensure proper compliance with occupational and state regulations. When it comes to management roles and qualifications, an advanced compliance degree plays a key role.

There are ever-present risks that are threats to every organization. Formal education in risk and compliance management is an effective tool to tackle these threats and mitigate undue consequences. 

To learn more about our MLS in Compliance and Risk Management, contact us at lawgraduateonline@seattleu.edu

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