This course examines the risk management process in detail and its application in a global/international firm. It will apply principled holistic risk management (pure and speculative risk) and why organizations have risk managers. Discussion will include the administrative and strategic aspects of global corporate risk management examining how a risk manager operates within a complex organization. The application of sophisticated and cutting edge risk management tools will be discussed such as risk mapping, loss forecasting, application of total quality management principles, integrated risk financing, financial reinsurance, captives/risk retention groups, and benchmarking. The course does examine the specific issues of managing risk internationally and other pertinent issues faced by risk managers. Note: This course is one of two capstone courses for Risk Management & Insurance majors.