Risk Management Specialist Career

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


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Risk Management Specialist Career

What Risk Management Specialists do:

  • Document, and ensure communication of, key risks.
  • Gather risk-related data from internal or external resources.
  • Recommend ways to control or reduce risk.
  • Maintain input or data quality of risk management systems.
  • Plan, and contribute to development of, risk management systems.
  • Produce reports or presentations that outline findings, explain risk positions, or recommend changes.
  • Analyze new legislation to determine impact on risk exposure.
  • Develop or implement risk-assessment models or methodologies.
  • Devise systems and processes to monitor validity of risk modeling outputs.
  • Develop contingency plans to deal with emergencies.
  • Identify and analyze areas of potential risk to the assets, earning capacity, or success of organizations.
  • Conduct statistical analyses to quantify risk, using statistical analysis software or econometric models.
  • Identify key risks and mitigating factors of potential investments, such as asset types and values, legal and ownership structures, professional reputations, customer bases, or industry segments.
  • Meet with clients to answer queries on subjects such as risk exposure, market scenarios, or values-at-risk calculations.
  • Consult financial literature to ensure use of the latest models or statistical techniques.
  • Devise scenario analyses reflecting possible severe market events.
  • Confer with traders to identify and communicate risks associated with specific trading strategies or positions.
  • Provide statistical modeling advice to other departments.
  • Track, measure, or report on aspects of market risk for traded issues.
  • Review or draft risk disclosures for offer documents.

What work activities are most important?

Importance Activities

Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.

Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.

Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

Interacting With Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.

Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.

Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.

Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.

Evaluating Information to Determine Compliance with Standards - Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.

Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.

Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.

Interpreting the Meaning of Information for Others - Translating or explaining what information means and how it can be used.

Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.

Thinking Creatively - Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.

Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.

Provide Consultation and Advice to Others - Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.

Communicating with Persons Outside Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.

Monitor Processes, Materials, or Surroundings - Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.

Developing Objectives and Strategies - Establishing long-range objectives and specifying the strategies and actions to achieve them.

Judging the Qualities of Things, Services, or People - Assessing the value, importance, or quality of things or people.

Developing and Building Teams - Encouraging and building mutual trust, respect, and cooperation among team members.

Coordinating the Work and Activities of Others - Getting members of a group to work together to accomplish tasks.

Guiding, Directing, and Motivating Subordinates - Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.

Training and Teaching Others - Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.

Resolving Conflicts and Negotiating with Others - Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.

Estimating the Quantifiable Characteristics of Products, Events, or Information - Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.

Coaching and Developing Others - Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.

Selling or Influencing Others - Convincing others to buy merchandise/goods or to otherwise change their minds or actions.

Monitoring and Controlling Resources - Monitoring and controlling resources and overseeing the spending of money.

Scheduling Work and Activities - Scheduling events, programs, and activities, as well as the work of others.

Performing Administrative Activities - Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.

Staffing Organizational Units - Recruiting, interviewing, selecting, hiring, and promoting employees in an organization.

Holland Code Chart for a Risk Management Specialist

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