What Is the Greenberg School of Risk Management?

The Greenberg School of Risk Management traces its roots back to 1901, when it was founded as the Insurance Society of New York. Through the years, it evolved to develop educational materials, and later degree programs for actuarial sciences. In 1947, it was named the School of Insurance. In 1962 it was named the College of Insurance.

In 2001, the College of Insurance was merged with St. John’s University, after which it became known as the School of Risk Management, Insurance, and Actuarial Science. In January of 2020, the University announced a renaming to the Maurice R. Greenberg School of Risk Management, Insurance, and Actuarial Science, in honor of Maurice Greenberg.

Since its founding, the Greenberg School of Risk Management, as an entity, has been located in Manhattan, New York. At St. John’s, its campus is located at 101 Astor Place, in Manhattan, where it forms part of the St. John’s Peter J. Tobin College of Business.

Key Takeaways

  • The Greenberg School of Risk Management began its legacy in 1901 as the Insurance Society of New York.
  • The College of Insurance merged with St. John’s University in 2001, becoming the School of Risk Management, Insurance, and Actuarial Science.
  • In 2020 the college was renamed the Maurice R. Greenberg School of Risk Management, Insurance, and Actuarial Science.
  • The Greenberg School offers seven risk management degree programs.
  • It is considered one of the top risk management colleges in the United States.

Greenberg School of Risk Management Explained

Starting out as the Insurance Society of New York, the focus of the organization has always been on the actuarial sciences and other topics relevant for professionals in the risk management industry. As an independent entity, prior to its merger with St. John’s, the College of Insurance offered both undergraduate and graduate degree programs.

In 2020, the Greenberg School of Risk Management offers seven major programs of study. This includes two undergraduate programs and five graduate programs.

Undergraduate

  • Actuarial Science, Bachelor of Science
  • Risk Management and Insurance, Bachelor of Science

Graduate

  • Actuarial Science, Master of Science
  • Enterprise Risk Management, Master in Business Administration
  • Enterprise Risk Management, Master of Science
  • Risk Management, Master in Business Administration
  • Risk Management and Risk Analytics, Master of Science

The graduate program offers two Master in Business Administration tracks and three paths for a Master of Science. In both graduate and undergraduate courses, students are required to use robust analytical and quantitative analysis skills in order to identify risk exposures and develop creative risk-mitigation strategies.

Due to its mathematically intensive nature, all of the Greenberg School’s degree programs have high standards. Admission requirements vary by program. The Bachelor of Science in Actuarial Science requires a 620 or higher on the math portion of the SAT exam. High levels of demonstrated mathematical aptitude from high school coursework are also important.

The Master of Science in Actuarial Science requires an undergraduate degree, six credit hours of calculus, and three hours of calculus-based probability. Scholarships are available for entrants who have passed a Society of Actuaries Exam or a Casualty Actuarial Society Exam.

In general, all degree program curriculum is aligned with content from actuarial professional accreditations. Actuary accreditation requires the passing of the Society of Actuaries Exam and/or Casualty Actuarial Society Exam. The Greenberg School also integrates written and oral communication activities in order to help prepare its students for effective work in a professional setting.

Risk Management Rankings

According to College Choice, the Greenberg School of Risk Management is ranked as the top choice for students interested in a risk management degree. Greenberg School programs have also been recognized by the Society of Actuaries and the Casualty Actuarial Society. Other schools with top accolades in the area of risk management and insurance include: Temple University, University of Minnesota-Twin Cities, Florida State University, and the University of Georgia.

St. John’s and the Peter J. Tobin College of Business

Although the Greenberg School of Risk Management program is relatively small, with approximately 10 specialized faculty members, it is part of the broader Peter J. Tobin College of Business. It also offers many advantages as part of St. John’s overall.

Greenberg School students have access to resources, faculty members, lectures, and seminars in a wide variety of subject areas, such as accounting, business law, marketing, economics, and information systems. There are several dedicated research centers including the Center for Executive Education, the Center for the Study of Insurance Regulation, and the Global Business Research Symposium, among others.

The Greenberg School offers many networking, internship, career placement, and consulting opportunities through its association with St. John’s and relationships with risk professionals in New York City. St. John’s also has international academic opportunities through its campuses in St. John's Rome, Italy and Paris, France. The Greenberg School of Risk Management also partners for an Insurance Hall of Fame, which is a website providing biographies of notable individuals who have made lasting contributions to the insurance industry. The Insurance Hall of Fame website is administered by the International Insurance Society and partly maintained by the School of Risk Management.