What does a Senior Risk Analyst do?

A risk analyst evaluates financial documents, economic conditions and potential clients to help companies determine the level of risk involved in making a particular business decision. They typically work for banks and insurance companies, though any company handling large amounts of money may choose to hire a risk analyst. You can get a job as a risk analyst after college, provided that you have the relevant experience and internship credit, and can progress to higher levels of management throughout your career.

Risk analysts must have a bachelor's degree in statistics, economics, finance or another business-related degree. They should be able to use software programs, including Excel, and complete extensive research to evaluate business decisions. In certain cases, risk analysts may be required to travel to clients' locations for their work, depending on the type of company for which they work.

What responsibilities are common for Senior Risk Analyst jobs?
  • Analyze data to better understand potential risks, concerns and outcomes of decisions
  • Aggregate data from multiple sources to provide a comprehensive assessment
  • Create reports, summaries, presentations and process documents to display results
  • Collaborate with other team members to effectively analyze and present data
  • Develop systems and processes for gathering and storing data for future analytic projects
  • Conduct research into potential clients and understand the risks of accepting each one
  • Identify economic and financial trends that may present a risk to the company
  • Monitor internal and external data points that may affect the risk level of a decision
What are the typical qualifications for Senior Risk Analyst jobs?
  • One to five years of experience as an analyst in a similar company or related field
  • Demonstrated ability to prioritize tasks and meet daily deadlines for projects
  • Strong written and verbal communication skills to inform managers and other stakeholders of results
  • Proficiency in Microsoft Excel, Access, Visio and other analysis programs
  • Ability to manage multiple projects and programs at the same time to complete work
  • Critical thinking skills with the ability to independently solve problems with data
  • Quantitative and analytical skills with a demonstrated ability to understand new analytical concepts
  • Basic knowledge of programming languages, such as SQL and Python
  • Presentation skills, including public speaking and presentation creation using PowerPoint or a similar program
EducationBachelor's Degree
Work/Life Balance
3.8 ★
Total Pay--
Career Opportunity
3.7 ★
Avg. Experience2-4 years

How much does a Senior Risk Analyst make?

Confident
$106,965 /yr
Total Pay
$84,809
 /yr

Base Pay

+
$22,156
 /yr

Additional Pay

$106,965

 / yr
$67K$173K
Most Likely Range
Possible Range
See More Insights

Senior Risk Analyst Career Path

Learn how to become a Senior Risk Analyst, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

Senior Risk Analyst
$106,965/yr
Lead Risk Analyst
$101,143/yr
Senior Risk Analyst

Years of Experience Distribution

0 - 1
2%
2 - 4
67%
5 - 7
28%
8+
3%
Not including years spent in education and/or training

Senior Risk Analyst Insights

Read what Senior Risk Analyst professionals have to say about their job experiences and view top companies for this career.
Mansfield EnergyMansfield Energy
Senior Manager Risk Analyst
Aug 20, 2020

“I have always been treated fairly and given countless opportunities to advance in my career.”

Optum Global SolutionsOptum Global Solutions
Senior Information Security Risk Analyst
May 10, 2022

“Salary may not be as good as market value specially in the information security industry for a regular analyst role.”

Lobel Financial CorpLobel Financial Corp
Risk Analyst
Aug 12, 2022

“It is difficult to work with the current manager and I would suggest to avoid this department”

Funding CircleFunding Circle
Risk Analyst
Aug 6, 2022

“Comp was low but the HR Rep in my exit interview seemed shocked I said this so mighy be fixed for new hires.”

KPMGKPMG
Risk Analyst
Aug 11, 2021

“Scope for learning is high and career growth is good.”

Federal Home Loan Bank of BostonFederal Home Loan Bank of Boston
Senior Risk Analyst
Dec 30, 2020

“People are nice and friendly.”

Zions BancorporationZions Bancorporation
Risk Analyst
Mar 5, 2021

“I was able to learn industry standard practices and gain a solid understanding of risks and controls.”

INGING
Model Risk Oversight Trainee
Sep 24, 2021

“I really liked the internship experience and I have many good things to say about this job.”

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Senior Risk Analyst Interviews

Frequently asked questions about the roles and responsibilities of a Senior Risk Analyst

When working as a Senior Risk Analyst, the most common skills you will need to perform your job and for career success are Writing SQL, Risk Assessments, CISSP CISM, Audit, and Frameworks.

The most similar professions to Senior Risk Analyst are:
  • Financial Analyst
  • Financial Manager
  • Finance Manager
  • Controller

The most common qualifications to become a Senior Risk Analyst include a minimum of a Bachelor's Degree and an average of 0 - 1 years of experience not including years spent in education and/or training.

Related Careers

Financial Analyst
$73,311
No skills overlap
Financial Manager
$94,775
13% skills overlap
Finance Manager
$152,829
Controller
$150,490
13% skills overlap

Senior Risk Analyst Jobs