Risk Management Specialists analyze and manage risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.
- Develop contingency plans to deal with emergencies.
- Recommend ways to control or reduce risk.
- Analyze areas of potential risk to the assets, earning capacity, or success of organizations.
- Document, and ensure communication of, key risks.
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Risk Management Specialists with little to no experience tend to make between $38030 and $51100 while the more experienced ones can earn over $94580 per year.
|Top 5 paying states||Hourly||Annual|
One 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, IL, MA and VA.
However, a higher pay at DC doesn’t guarantee that you will make more because the living expenses at DC might be twice as high than where you are currently at now.
Three 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.
We asked other Risk Management Specialists what degree they had when they got the job and most of them said they had a Bachelor’s Degree followed by a Post-Baccalaureate Certificate.
Other than that, we also asked them what did they major in and here are the most popular majors that came up.
Pros and Cons
Here are some of the pros and cons of being a Risk Management Specialist.
|Suitable for people who likes to follow routines|
|Suitable for people who values achievements and are results-oriented|
|This career is perfect for people who love to work indoors.|
|Very good salary|
|Not suitable for people who likes to help and teach others|
|It is hard to get into this career. A considerable amount of work-related skill, knowledge, or experience is required for this career.|
|Long working hours (More than 40 hours per week)|
What is the job like
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
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.
analyze and coordinate the logistical functions of a firm or organization. Responsible for the entire life cycle of a product, including acquisition, distribution, internal allocation, delivery, and final disposal of resources.
review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
prepare customs documentation and ensure that shipments meet all applicable laws to facilitate the import and export of goods. Determine and track duties and taxes payable and process payments on behalf of client. Sign documents under a power of attorney. Represent clients in meetings with customs officials and apply for duty refunds and tariff reclassifications. Coordinate transportation and storage of imported goods.
manage communications or negotiations between corporate issuers of securities and clients regarding private equity investments. Underwrite the issuance of securities to provide capital for client growth. Negotiate and structure the terms of mergers or acquisitions.
coordinate and document internal regulatory processes, such as internal audits, inspections, license renewals, or registrations. May compile and prepare materials for submission to regulatory agencies.
Related career information
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