Life As a Risk Management Specialist
Position Description Analyze and manage risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.
Daily Life Of a Risk Management Specialist
- Evaluate the risks related to green investments, such as renewable energy company stocks.
- Determine potential environmental impacts of new products or processes on long-term growth and profitability.
- Track, measure, or report on aspects of market risk for traded issues.
- Consult financial literature to ensure use of the latest models or statistical techniques.
- Determine potential liability related to the use of more sustainable methods of product packaging, such as biodegradable food containers.
- Analyze areas of potential risk to the assets, earning capacity, or success of organizations.
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Risk Management Specialist Needed Skills
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
- Market Risk Analyst
- Risk Specialist
- Risk Manager
- Global Risk Management Director
- Risk Analyst
Are There Job Opportunities for Risk Management Specialists?
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. There will be an estimated 13,100 positions for Risk Management Specialist per 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
The average yearly salary of a Risk Management Specialist ranges between $38,030 and $123,360.
Risk Management Specialists who work in District of Columbia, Virginia, or Illinois, make the highest salaries.
Below is a list of the median annual salaries for Risk Management Specialists in different U.S. states.
| 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 |
Tools & Technologies Used by Risk Management Specialists
Although they’re not necessarily needed for all jobs, the following technologies are used by many Risk Management Specialists:
- 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?
What education is needed to be a Risk Management Specialist?
How many years of work experience do I need?
Risk Management Specialists Sector
Below are examples of industries where Risk Management Specialists work:
Similar Careers
Those interested in being a Risk Management Specialist may also be interested in:
Career changers with experience as a Risk Management Specialist sometimes find work in one of the following fields:
References:
Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic
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