Risk Management Specialists

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About the Job

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

It is also Called

  • Security Consultant
  • Risk Manager
  • Risk Management Specialist
  • Risk Management Director
  • Risk Management Analyst
  • Risk and Insurance Consultant
  • Risk Analyst
  • Operational Risk Manager
  • Operational Risk Consultant
  • Operational Risk Analyst
View All

What They Do

  • Evaluate the risks related to green investments, such as renewable energy company stocks.
  • Evaluate the risks and benefits involved in implementing green building technologies.
  • Determine potential liability related to the use of more sustainable methods of product packaging, such as biodegradable food containers.
  • Determine potential environmental impacts of new products or processes on long-term growth and profitability.
  • Consult financial literature to ensure use of the latest models or statistical techniques.
  • Provide statistical modeling advice to other departments.
  • Review or draft risk disclosures for offer documents.
  • Track, measure, or report on aspects of market risk for traded issues.
  • Analyze new legislation to determine impact on risk exposure.
  • Confer with traders to identify and communicate risks associated with specific trading strategies or positions.

Interests

People who work in this occupation generally have the interest code: CEI.

This means people who work in this occupation generally have Conventional interests, but also prefer Enterprising and Investigative environments.

Work Values

People who work in this occupation generally prize Achievement, but also value Recognition and Independence in their jobs.

Things They Need to Know

  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Things They Need to Be Able to Do

  • 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.
  • Systems Analysis - Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
  • Speaking - Talking to others to convey information effectively.
  • Mathematics - Using mathematics to solve problems.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.

Education Required

Most of these occupations require a four-year bachelor's degree, but some do not.

Wages

In 2016, the average annual wage in Pennsylvania was $78,900 with most people making between $42,800 and $120,530

Outlook

0.45%
avg. annual growth

During 2014, this occupation employed approximately 3,800 people in Pennsylvania. It is projected that there will be 3,970 employed in 2024.

This occupation will have about 17 openings due to growth and about 43 replacement openings for approximately 60 total annual openings.



Pennsylvania Department of Education