Become a Risk Manager
A risk manager assesses all possible financial risks that are posed to a company and explores ways to minimize exposure to those risks. This involves analyzing financial transactions and business operations to identify any potential miscues. Risk managers often oversee programs to minimize a company's losses and report to corporate executives to help them make sound decisions.
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If your eye for detail is immaculate, and you are good at identifying opportunities for accidental loss, you might become an excellent risk manager. Before you start revamping your resume, however, read on to see what being a risk manager entails.
Risk Manager Degrees
Since risk managers play such a crucial advisory role in a corporate structure, these positions are increasingly competitive. Employers are looking for individuals with the best combination of education and work history. While an associate degree in business can still obtain entry-level positions in risk management, holding a bachelor's degree or above is far more favorable.
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Risk Manager Job Description
A risk manager analyzes potential business ventures as well as existing ones to identify areas of accidental loss. As this goes hand-in-hand with liability, risk managers are often in charge of the corporate insurance budget. Because risk managers are good at predicting the pitfalls of potential business ventures, they are key players in the preparation of financial reports, cash management decisions and corporate investment activities.
Due to the nature of a risk manager's job, extensive knowledge and familiarity with computers is essential. The most successful financial managers are comfortable with problem-solving roles. Many risk managers work between 50 and 60 hours per week, so the ability to continue a high level of output during an extended workday is essential.
Risk Manager Salary
As you might expect, risk manager salaries vary widely depending upon experience and location. However, median earnings for risk managers in 2006 were $90,970 according to the Bureau of Labor Statistics. Of this group, the top 10 percent earned $145,600 and over, while the lowest 10 percent earned $50,290 or less.
