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RMI 2101 SPRING 2015 Page 1of 19TEMPLE UNIVERSITYTHE FOX SCHOOL OF BUSINESSRMI 2101 - INTRODUCTION TO RISK MANAGEMENT SECTION 401–5:30 –8:00pm W –CRN 9255 –CENTER CITY CAMPUS SPRING 2015Farah Khan, MBA, CPCU, ARM-EAdjunct Instructor Department of Risk, Insurance and Healthcare Management Office Main Campus: 628 Alter Hall University Office Telephone: N/AE-mail: [email protected]Office Hours: Office hours by scheduled appointment only. I will be available before and after classes. COURSE OVERVIEW, LEARNING GOALS AND PRE-REQUISITES COURSE OVERVIEWRisk is said to include an uncertain outcome and the possibility of a loss. All firms and individuals are exposed to conditions or situations that present the possibility of a loss. Financial and non-financial losses may be incurred due to property loss, liability loss, personal/human losses, personnel losses (for a firm), lost opportunities, and reputation/goodwill loss. Risk management is the study of tools and techniques to handle these risks or uncertain losses. Risk management involves the systematic identification of exposures to loss, selecting among various alternatives to manage or finance losses and implementing those decisions. The recent evolution of Enterprise Risk Management (ERM) has elevated risk management to the strategic level in many firms. Chief Risk Officers are now becoming common in large organizations. These recent strategic level developments highlight the growing importance of risk management and ERM in the business environment. This course is organized into three modules. The first module in this course is designed to familiarize you with the basic aspects of risk and risk management as they apply to all firms and individuals. A second portion of the course presents an overview of how individuals, firms and society finance losses from random events. Third, we will have a discussion concerning individual economic security issues including employee benefits,