Risk Manager Job Overview
Discover everything you need to know about becoming a Risk Manager. Learn about responsibilities, requirements, salary expectations, and career growth opportunities.
Average Salary
$120k - $180k
Job Growth
16%
Education
Varies
Work Hours
Full-time
A Risk Manager is a vital role in the finance industry. This position involves a combination of technical expertise, problem-solving skills, and effective communication.Risk Managers play a crucial role in ensuring organizational success through their specialized knowledge and contributions.
The ideal candidate for this Risk Manager position should be detail-oriented, adaptable, and committed to continuous learning. This role offers opportunities for career advancement and skill development in a dynamic professional environment.
As a Risk Manager, your primary responsibilities include:
- Collaborate with team members to achieve Risk Manager objectives
- Maintain accurate records and documentation related to Risk Manager activities
- Stay current with industry trends and best practices in Risk Manager
- Communicate effectively with stakeholders and team members
- Prepare financial reports and analyses
- Monitor budgets and financial performance
- Ensure compliance with financial regulations
- Conduct financial forecasting and planning
- Manage financial risks and opportunities
Education:
Bachelor's degree in Finance, Accounting, or Business Administration
Required Skills & Experience:
- Strong communication and interpersonal skills
- Excellent problem-solving and critical thinking abilities
- Proficiency with industry-standard software and tools
- Ability to work independently and as part of a team
- Strong organizational and time management skills
- Strong analytical and mathematical skills
- Proficiency in financial software and Excel
- Knowledge of financial regulations and compliance
- Attention to detail and accuracy
- Professional certification (CPA, CFA, etc.) often preferred
Preferred Qualifications:
- Advanced certifications or specialized training
- 2-5 years of relevant experience
- Strong portfolio of relevant work (where applicable)
The average salary for a Risk Manager ranges from $120k - $180k depending on experience, location, and employer. Factors such as specialized skills, certifications, and industry demand can significantly impact compensation.
Typical Benefits Include:
- Health, dental, and vision insurance
- Retirement savings plans (401k matching)
- Paid time off and holidays
- Professional development opportunities
- Flexible work arrangements (remote/hybrid options)
Finance roles are typically office-based in corporate settings. The work is deadline-driven, particularly around month-end, quarter-end, and year-end reporting periods. Long hours may be required during busy periods.
Entry-Level Positions:
Junior Risk Manager • Risk Manager Assistant • Associate Risk Manager • Entry-level Risk Manager
Mid-Level Positions:
Risk Manager • Senior Risk Manager • Lead Risk Manager • Risk Manager II
Senior-Level Positions:
Principal Risk Manager • Risk Manager Manager • Risk Manager Director • VP of Risk • Chief Risk Officer
Job Outlook: The Risk Manager field is projected to grow by 16% over the next decade, which is much faster the average for all occupations. This growth indicates strong demand and promising career opportunities for qualified professionals.
Enterprise Risk Manager, Risk Management Manager
✓ This role may be ideal if you:
- Enjoy solving complex problems and challenges
- Thrive in collaborative team environments
- Are committed to continuous learning and skill development
- Have strong attention to detail and quality
✗ This role might not be ideal if you:
- Prefer working alone without collaboration
- Dislike adapting to new technologies and methods
- Are uncomfortable with deadlines and pressure
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