As a risk manager, you are in charge of determining financial, safety and security risks for a company or organization, and you find ways to reduce those risks through planning and problem-solving.
Risk managers are in charge of research activities such as risk assessment for current company affairs or risk evaluation, which evaluates the company’s handling of risks in the past. Risk managers must be able to present their findings to their clients in a way that’s easy for the company administration to understand and implement. Many risk managers begin their careers as risk assistants or risk analysts and move into manager roles once they have enough experience.
Most risk managers hold bachelor’s degrees in business, management or another related field. In-depth knowledge of the company and industry is very important for risk managers, who need to accurately assess risks that may become a reality without intervention by organization management. Risk managers should be able to think outside the box to envision risks that might be otherwise unnoticeable to others.
Responsibilities for Risk Manager
- Identify financial, safety or security risks that the client company or organization may face
- Prepare action plans to decrease risk factors
- Gather confidential financial information from client such as income, assets and debts
- Manage company insurance policies
- Perform risk evaluation, which assesses the way the company previously handled risks
- Make risk-avoiding adjustments to current methods of operation in order to minimize their future risks
- Prepare a risk-management budget
- Provide training and certification for organization staff so that they can be aware of risks and try to avoid them
Qualifications for Risk Manager
- Professional Risk Manager (PRM) certification may be beneficial
- Thorough understanding of the business or organization’s goals and values
- Computer, data entry and MS Office skills
- Excellent communication skills, both written and spoken
- Ability to handle private, sensitive, confidential information appropriately
- You pay strong attention to detail and organization
- Strong working knowledge of risk management and previous experience working with risk (i.e. risk assistant or risk analyst)
- Solid research skills using the internet and first-person interviews
- Experience working with insurance policies
Average Annual Salary: £90k + Bonus
Top 10% Annual Salary: £125k + Bonus