Risk Management Specialists

Analyze and manage risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.

Median Annual Wage: $65,440

Education: Bachelor's degree (48%); Master's degree (33%); Post-baccalaureate certificate (11%)

Projected Growth: Slower than average (3% to 7%)

Related Job Titles: Risk Management Director; Chief Risk Officer; Risk Manager; Credit Risk Management Director; Global Risk Management Director; Risk and Insurance Consultant

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Source: O*NET OnLine information for Risk Management Specialists.

More Business and Financial Operations Careers

  • Maintain input or data quality of risk management systems.
  • Recommend ways to control or reduce risk.
  • Identify key risks and mitigating factors of potential investments, such as asset types and values, legal and ownership structures, professional reputations, customer bases, or industry segments.
  • Devise systems and processes to monitor validity of risk modeling outputs.
  • Gather risk-related data from internal or external resources.
  • Identify and analyze areas of potential risk to the assets, earning capacity, or success of organizations.
  • Develop or implement risk-assessment models or methodologies.
  • Produce reports or presentations that outline findings, explain risk positions, or recommend changes.
  • Plan, and contribute to development of, risk management systems.
  • Conduct statistical analyses to quantify risk using statistical analysis software or econometric models.
  • Meet with clients to answer queries on subjects such as risk exposure, market scenarios, or values-at-risk calculations.
  • Devise scenario analyses reflecting possible severe market events.
  • Develop contingency plans to deal with emergencies.
  • Confer with traders to identify and communicate risks associated with specific trading strategies or positions.
  • Analyze new legislation to determine impact on risk exposure.

Source: O*NET OnLine information for Risk Management Specialists.

  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Speaking - Talking to others to convey information effectively.
  • Systems Analysis - Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
  • Mathematics - Using mathematics to solve problems.
  • Systems Evaluation - Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

Source: O*NET OnLine information for Risk Management Specialists.

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