Life As a Risk Management Specialist
Risk Management Specialist Example Analyze and manage risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.
List of Risk Management Specialist Job Duties
- Analyze new legislation to determine impact on risk exposure.
- Document, and ensure communication of, key risks.
- Review or draft risk disclosures for offer documents.
- Provide statistical modeling advice to other departments.
- Meet with clients to answer queries on subjects such as risk exposure, market scenarios, or values-at-risk calculations.
- Develop contingency plans to deal with emergencies.
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What Every Risk Management Specialist Should Know
These are the skills Risk Management Specialists say are the most useful in their careers:
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.
Other Risk Management Specialist Job Titles
- Security Consultant
- Risk Management Analyst
- Loss Control Consultant
- Global Risk Management Director
- Operational Risk Analyst
Is There Job Demand for Risk Management Specialists?
In the United States, there were 135,900 jobs for Risk Management Specialist in 2016. 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. The BLS estimates 13,100 yearly job openings in this field.
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.
Do Risk Management Specialists Make A Lot Of Money?
The salary for Risk Management Specialists ranges between about $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 |
Tools & Technologies Used by Risk Management Specialists
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 to Become a Risk Management Specialist
What education is needed to be a Risk Management Specialist?
How many years of work experience do I need?
Where Risk Management Specialists Work
Risk Management Specialists work in the following industries:
Other Jobs You May be Interested In
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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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