Risk Management Jobs
Are you a creative problem-solver? Do you think proactively to spot potential problems before they occur? Do you like using data to find smart solutions? If so, learn what it means to be a risk manager and how you can start your fulfilling career today.
Job Description
This field is typically referred to as risk management and insurance because those two things go together. While insurance provides financial protection to cover losses, risk management focuses on the broader spectrum including how to prevent those losses from ever occurring.
Risk managers can work for insurance companies helping their clients proactively manage risk or they can work for the client company directly. Look at most corporations and you’ll find individuals (and often large teams) focused on risk management.
Both types of risk managers use data and knowledge of laws and regulations to create risk management strategies aimed at preventing losses. That can mean focusing on ergonomics and safety to prevent workplace injuries, ensuring adherence to best practices to prevent medical errors, and so much more. Risk managers at corporations are also usually the people who work with an insurance broker to find the right insurance coverage options for their company.
Required Skills
A talented risk manager is highly analytical but also a creative problem-solver.
- Data analysis
- Quantitative skills
- Knowledge of finance and regulation
- Problem solving
- Strategic thinking
Degree Required?
Yes
Risk management professionals typically start with undergraduate degrees in risk management, insurance, business, finance, management, economics, accounting, or related fields.
Additional Education
Graduate degrees aren’t usually required, but additional education can help secure senior positions. There are several designations that can help expand your knowledge and accelerate your career.
Preferred Previous Experience
Most risk managers have three to five years’ experience in a related business position (often working for an insurance brokerage, in safety/loss control, claims, or another area) before starting a risk manager role.
Earning Potential: $90,000-$150,000
Salary varies based on previous experience, seniority, company and geographic location.
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