What Does it Take to Be a Risk Management Specialist?
Occupation Description Analyze and manage risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.
Life As a Risk Management Specialist
- Develop or implement risk-assessment models or methodologies.
- Evaluate the risks and benefits involved in implementing green building technologies.
- Conduct statistical analyses to quantify risk, using statistical analysis software or econometric models.
- Determine potential liability related to the use of more sustainable methods of product packaging, such as biodegradable food containers.
- Devise systems or processes to monitor validity of risk assessments.
- Recommend ways to control or reduce risk.
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Qualities of a Risk Management Specialist
Risk Management Specialists state the following job skills are important in their day-to-day work.
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Speaking: Talking to others to convey information effectively.
Systems Analysis: Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Related Job Titles
- Risk Analyst
- Operational Risk Manager
- Credit Risk Management Director
- Risk Management Director
- Loss Control Consultant
Risk Management Specialist Job Outlook
There were about 135,900 jobs for Risk Management Specialist in 2016 (in the United States). New jobs are being produced at a rate of 9.6% which is above the national average. The Bureau of Labor Statistics predicts 13,100 new jobs for Risk Management Specialist by 2026. Due to new job openings and attrition, there will be an average of 13,100 job openings in this field each year.
The states with the most job growth for Risk Management Specialist are Utah, Nevada, and Arizona. Watch out if you plan on working in South Dakota, Maryland, or Alaska. These states have the worst job growth for this type of profession.
Salary for a Risk Management Specialist
Risk Management Specialists make between $38,030 and $123,360 a year.
Risk Management Specialists who work in District of Columbia, Virginia, or Illinois, make the highest salaries.
How much do Risk Management Specialists make in each U.S. state?
| State | Annual Mean Salary |
|---|---|
| Alabama | $75,170 |
| Alaska | $68,040 |
| Arizona | $82,200 |
| Arkansas | $43,580 |
| California | $80,720 |
| Colorado | $83,800 |
| Connecticut | $77,690 |
| Delaware | $80,950 |
| District of Columbia | $107,760 |
| Florida | $67,520 |
| Georgia | $85,610 |
| Idaho | $56,440 |
| Illinois | $93,200 |
| Indiana | $66,590 |
| Iowa | $69,480 |
| Kansas | $55,300 |
| Kentucky | $57,030 |
| Louisiana | $61,170 |
| Maine | $65,430 |
| Maryland | $77,440 |
| Massachusetts | $88,370 |
| Michigan | $69,480 |
| Minnesota | $74,190 |
| Mississippi | $63,650 |
| Missouri | $74,050 |
| Montana | $67,820 |
| Nebraska | $79,250 |
| Nevada | $58,150 |
| New Hampshire | $77,670 |
| New Jersey | $81,660 |
| New Mexico | $61,940 |
| New York | $96,480 |
| North Carolina | $76,050 |
| North Dakota | $77,400 |
| Ohio | $78,960 |
| Oklahoma | $72,520 |
| Oregon | $71,980 |
| Pennsylvania | $74,880 |
| Rhode Island | $77,610 |
| South Carolina | $69,340 |
| South Dakota | $53,080 |
| Tennessee | $65,200 |
| Texas | $70,830 |
| Utah | $69,340 |
| Vermont | $72,600 |
| Virginia | $87,810 |
| Washington | $73,790 |
| West Virginia | $68,180 |
| Wisconsin | $60,120 |
| Wyoming | $59,190 |
What Tools & Technology do Risk Management Specialists Use?
Below is a list of the types of tools and technologies that Risk Management Specialists may use on a daily basis:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Web browser software
- Microsoft Access
- SAP
- Microsoft Project
- Microsoft Visio
- Microsoft SharePoint
- Structured query language SQL
- The MathWorks MATLAB
- SAS
- Linux
- Ruby
- Microsoft Visual Basic
- IBM SPSS Statistics
- UNIX
- Microsoft SQL Server
How do I Become a Risk Management Specialist?
Learn what Risk Management Specialist education requirements there are.
What work experience do I need to become a Risk Management Specialist?
Where do Risk Management Specialists Work?
The table below shows some of the most common industries where those employed in this career field work.
Similar Careers
Those interested in being a Risk Management Specialist may also be interested in:
Those who work as a Risk Management Specialist sometimes switch careers to one of these choices:
References:
Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic
More about our data sources and methodologies.
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