[G0dwulf]

Are these two actions same? I am trying to delete IT policies on my device...

[BigBadWulf]

Yes, they both accomplish the same thing. Keep in mind, without a backup, you'll lose every personal item. Both settings and information. Since you'll have Desktop open anyway, use the reset option found when hitting the ? in the right top corner, then restore selectively from the backup made prior when done.

[Phill_UK]

Only the factory reset will remove an IT Policy... a Security Wipe will not.
I don't believe you have any IT Policies to remove though. The reason you are only seeing BES email setup is because you don't have a  data plan.

[Phill_UK]

To check whether you have an IT Policy enabled, try this...

Options > Device > Device and Status Information > type BUYR and scroll down to the bottom

If you see IT Policy: disabled, then you don't have one.

[BigBadWulf]

Thanks Phill! I should have specified the IT policy wouldn't be removed with the OP's methods.