Risk Managers need to be highly analytical as their job is to research and assess a company’s risk in a certain area (e.g. legal, financial or environmental). Their responsibility is to try and predict potential risks involved in running a business and to provide contingency plans to both prevent and mitigate such risks.
Essential parts of a Risk Manager’s job description:
- Risk Managers are often specialised in a specific subfield of risk management, such as corporate governance, financial, environmental, or operational risk management
- Their typical career path involves them starting as a risk technician or analyst before becoming a Risk Manager, with their progression path aimed at becoming a Senior Risk Manager
- They tend to have a scholarly background in Law, Finance, Statistics or Business Studies
- Risk Managers often collaborate cross-departmentally with stakeholders ranging from Marketing to Sales to the C-Suite