Risk/Financial/Quantitative Analyst & MBA options

Discussion in 'General Distance Learning Discussions' started by joel66, Oct 4, 2009.

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  1. joel66

    joel66 New Member

    First off, I want to apologize for the long post. During the past few months I have been studying my butt off to complete my CPCU designation prior to enrolling into an MBA program.

    Previously, I made a few posts looking for a good MS Accounting or MBA w/concentration of accounting program, but decided prior to going for my MBA to instead complete my CPCU designation. Reason being, with 18 years of insurance claims experience I wanted to gain another insurance designation along with my SCLA then complete an MBA, so I can have the education and industry designations to better my chances to start teaching Risk Management, Insurance, and other business courses at the local community college and other schools online.

    I am currently at pace to complete my CPCU by mid 2010 and thinking of taking business calculus for spring 2010 and enroll for MBA program around summer or fall 2010. I initially thought about APU's MBA in Accounting but it seems that Bellevue's MBA in Finance would be a better fit for my goals. I have done a lot of research from looking at the various schools and reading the course description to find programs that have a lot of forecasting and statistical models and it appears Bellevue has the most I can complete in 36 units.

    As mentioned above, I want to make maximum use of my 18 years of Insurance claims and 2 years IT background to teach. I also want to transition from claims into following types of roles within the insurance industry:

    Risk Management (non-insurance)
    Senior Financial Analyst
    Quantitative Analyst
    Risk Analyst

    Below is a job description of the jobs I have looked at within the insurance industry that requires claims background and also finance/acct/math degree.

    The Senior Claims Field Analyst - acknowledges a more advanced understanding of the data, information, terminology, and technology (financial modeling software & spreadsheets) Undergraduate degree/MBA in Business, Economics, Finance, Math, (or related field) preferred. The output of this job is Data, Reports, Analysis, and Research as well as data and financial modeling, numerical exhibits. Additionally, this level Analyst can perform more complex forms of analysis, linking different data sources and producing a more in-depth product. Analyst should have an expanded knowledge of the insurance industry and the outside marketplace.

    Quantitative Analyst - This position will support the analytical needs of the Claims Senior Management group. The ideal candidate will be able to use statistical methodologies on varied data sources to identify key metrics, perform analysis to deepen the business understanding, build statistical models, forecast from those models, communicate results to non-technical personnel and recommend actionable changes to the organization.

    Financial/Business Analyst - Continually review claims management processes to identify improvements and possible cost reduction opportunities. Identify and implement controls which will address high severity claims while balancing the need to improve the customers experience. Support program manager in preparing forecasts, KPI updates, and financials analysis

    SQL or similar data extract tool
    SAS or similar statistical modeling tool
    Outstanding analytical skills and inquisitive, curious approach to modeling risk
    Completes ad-hoc report requests from claims management

    As you read above, you might be asking yourself why I am following two paths on education and analyst. From reading the job description and pay salary at my local community college, I would have to start teaching part time and gain the experience to make enough money to avoid any type of cut in pay. I am also TIRED of handling general liability and commercial claims in litigation and want to start doing risk management or analyst type of jobs within the insurance industry.

    Below is the list of courses I am looking at for Bellevue University. I have a BS in General Business with Excelsior and know I can waive foundation courses, but reading the course description for MBA522 and MBA541, it looks like those courses would benefit me. \

    Bellevue University (MBA in Finance)
    36 x 430 = $15,480

    Foundation courses (applied toward MBA)
    1. MBA 522 Data analysis
    2. MBA 541 Survey of accounting & info

    Core
    3. MBA 652 marketing strategy
    4. MBA 633 adv. org. behavior
    5. MBA 642 managerial acct & info systems
    6. MBA 626 operations management
    7. MBA 612 financial strategy
    8. MBA 639 strategic management

    Finance Concentration
    9. BA 602 Risk management
    10.BA616a investments
    11.BA620 cash management

    Other elective
    12.MBA 623 Business Modeling and Planning

    I also looked at American Public University's finance degree and also tried to do a blend of finance and accounting, but didn't see enough courses like Bellevue that would give me the tools needed to become an Analyst or Risk Manager. I know from the description above I can also look at MS in Statistics or Math, but I want to have the option of teaching business courses.

    I would like to get some feedback on my path and what recommendations others have.

    Joe
     
  2. Ian Anderson

    Ian Anderson Active Member

    The Bellevue MBA looks good.

    You might want to also consider the TESC Master of Science in Management degree.
    http://www.tesc.edu/4468.php
    Courses include risk management and finance.
    I suggest this degree because TESC is unusual in that it accepts portfolio learning assessment and ACE courses towards this degree and this may work for you.

    Another teaching sideline (at least in California where it is mandatory) is to teach continuing education courses to licensed insurance brokers who must take classes annually. My wife used to take these course on-line.
     
  3. joel66

    joel66 New Member

    I know American Educational Institute has an agreement with TESC to grant 12 graduate credits for my SCLA into that program, but I'm looking at making maximum use of the courses from an MBA program to learn forecasting, modeling, and analysis and other tools to become a business analysis and teach at a college.

    The other option is to spend another one to two years of preq. math courses and do the MS in Statistics with Colorado State University, but I think that would not allow me to teach business courses. Florida State University has an MS in Risk Management, but that program is almost the same as my CPCU. So far, Bellevue seems to have more flexibility of selecting elective courses that fits my needs. I can't seem to find any other schools with the same type of program that's within 36 units and around 15K.
     
  4. rcreighton

    rcreighton New Member

    I am currently enrolled in the MBA program at Ashford and this is what their MBA in Finance looks like. http://www.ashford.edu/online/degrees/mbacourses.php#f

    BUS 600 Management Communications with Technology Tools
    BUS 610 Organizational Behavior
    BUS 620 Managerial Marketing
    BUS 670 Legal Environment
    BUS 640 Managerial Economics
    BUS 630 Managerial Accounting
    BUS 650 Managerial Finance
    BUS 644 Operations Management
    BUS 655 Financial Investment Management
    BUS 657 Corporate Managerial Finance
    BUS 694 Finance Capstone Seminar

    33 credit hours X $ 515 = $ 16,995.00.

    If your bachelor's degree does not include coursework for Economics, Accounting and Finance, you would have to take one additional class called BUS 599 Introduction to Quantitative Principles. Yours looks like it does so this class would not be necessary.

    I like Bellevue's MBA program and almost chose it myself but opted for Ashford because I was already enrolled there as an undergrad at the time and I prefer their format of taking one class at a time in six weeks increments. With this format, you will be done in 66 weeks. Just another option for you to compare.

    Rich
     
  5. Ian Anderson

    Ian Anderson Active Member

     
  6. joel66

    joel66 New Member

    I contacted NorthCentral University and like Bellevue they also have a good selection. I noticed the Business Quantitative methods specialization looks quite interesting, as well as their finance one.

    NorthCentral University
    Tuition 450.00 (veteran) x 36 units = $16,200

    MBA - Business Quantitative Methods
    Fundamental Courses (18 credits)
    1. OM5015 Personnel Management and Organizational Behavior
    2. SKS5000 Strategic Knowledge Studies
    3. MGT5019 Business Ethics
    4. MKT6001 Product Marketing
    5. MGT5031 The History of Management Theory
    6. MGT5028 Business Statistics

    Business Quantitative Methods Specialization Courses (15 Credits) choose 5 courses
    7. MET5000 Principles of Productivity
    8. MET5006 Operations Research
    9. MGT6028 Applied Statistics for Business Decision Making
    10.MKT6002 International Marketing Research
    11.PM6004 Project Risk Management or MKT6005 Marketing Research I

    Capstone Project - final Course in Specialization (3 Credits)
    12. BUS6011 Special Topics in Business & Technology Management

    Financial Management Specialization Courses(15 Credits) choose 5 courses
    7. FIN5014 Financial Institutions
    8. FIN5015 Financial Statement Analysis
    9. FIN5017 Quality Concepts in Financial Management
    10.MGT5005 Management Finance and Control
    11.MGT5012 Managerial Accounting for Decision Making

    Other selections from Finance specialization
    FIN5013 Investment Management
    FIN5016 International Finance
    FIN5018 Accounting for Nonprofit Organizations

    Capstone Project - final Course in Specialization (3 Credits)
    12.FIN6010 Financial Management Research Project
     

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