Risk Management Specialists: Salary, Job Description, How To Be One and More

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Risk Management Specialists jobs information
pros and cons of being a Risk Management Specialist

Risk Management Specialists

Other names for this job might include Chief Risk Officer, Credit Risk Management Director, Global Risk Management Director, Market Risk Analyst, Market Risk Specialist, Operational Risk Analyst, Risk Analyst, Risk and Insurance Consultant, Risk Management Director, Risk Management Specialist


  • $72480
    Salary
  • 70%
    Job satisfaction
  • Quite Hard
    Becoming one
  • Low
    Job growth
OwlGuru Rank

B



Risk Management Specialists: Know It All In 1 Minute


In this career summary, you will find out what the job of A Risk Management Specialist is about and what it is like.

After reading this, you will have a good idea on what the job is about and decide if this is the right career for you.



Job description

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

  • Document, and ensure communication of, key risks.
  • 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.

Read more about what does A Risk Management Specialist really do at work and what is it like being and working as one.


Become one

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Salary

Average salary
$72480 per year

Hourly wage
$34.85 an hour


Risk Management Specialists with little to no experience tend to make between $37360 and $49590 while the more experienced ones make over $88590 per year.

Top 5 paying statesHourlyAnnual
DC$46.7$97130
NY$43.12$89690
VA$40.9$85070
MA$39.9$83000
PA$38.75$80600

1 of the easiest ways to increase your salary as A Risk Management Specialist is to move to a higher paying state like DC. Right now, the highest paying states for Risk Management Specialists are DC, NY, VA, MA and PA.

However a higher pay at DC doesn’t guarantee that you will make more because the living expenses at DC might be 2x higher than where you are currently at now.

3 other factors that can increase your salary as A Risk Management Specialist is the degree you hold, the industry you work in and lastly the company you work for (bigger companies like the Fortune 500 companies tend to pay more).

Find out how much do successful Risk Management Specialists make and if their salary is high when compared to all the other careers.


Requirements

Recommended degree level
Bachelor’s Degree

We asked other Risk Management Specialists what degree they had when they got the job and most of them said they had a Bachelors degree followed by Master’s degree.

Other than that we also asked them what did they major in and here are the most popular majors that came up.

Financial Mathematics
Finance, General

Another popular question from our readers is what makes A Risk Management Specialist successful or would they be good in this career.

Well, we found that most successful Risk Management Specialists have these 5 skillsets.

Reading Comprehension
Active Listening
Critical Thinking
Speaking
Systems Analysis

In addition to that, 1 common characteristic among successful Risk Management Specialists is they are good at Attention to Detail. Here are the top 5 common characteristics.

Attention to Detail
Integrity
Analytical Thinking
Dependability
Initiative
= Hot in-demand that most employers are looking for

Read more about what it really takes to become A Risk Management Specialist and the degree, training and education you need


Pros and Cons

Here are some reasons why you should and shouldn’t choose A Risk Management Specialist as your career.

PROS
Suitable for people who likes to follow routines
Suitable for people who values achievements and are resultsoriented
This career is perfect for people who love to work indoors.
Very good salary
CONS
Not suitable for people who likes to help and teach others
It is hard to get into this career. A considerable amount of workrelated skill, knowledge, or experience is required for this career.
Long working hours (More than 40 hours per week)


There will be pros and cons for all jobs. The point is how much do the pros outweigh the cons to you.

A pro to you might be a con to Bob. A pro to Bob might be a con to you. We suggest reading about this career framework that can help you to find out what type of careers are right for you.



What is the job like

Job satisfaction
70%

Is this job meaningful
47%


Working hours
More than 40 hours per week

Working schedule
Regular (Set schedule and routine)


On a normal working week Risk Management Specialists work More than 40 hours per week.

70% of Risk Management Specialists said they were satisfied with their job and 47% said they feel like their job is making other people’s lives better.



Is this right for me

Best personality for this career
The Organizers and The Persuaders


You can read more about these career personality types here.

People who are suitable for this job tends to like following set procedures and routines. They like working with data and details more than with ideas.

They also like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business.



How we can help

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Career type

Business and Finance
Green New & Emerging
Research, Design and Consulting Services
Mathematics
Financial and Investment Planning

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Job Description
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Related to Risk Management Specialists Career Information

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Additional resources

http://www.garp.org/
http://www.rmahq.org/

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Risk Management Specialists
Written by: Stanley Tan
Risk Management Specialists analyze and manage risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.
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