How to Become a Risk Management Analyst?
Steps to Become a Risk ManagerWould you like to become a risk manager, or are you looking for the next steps in your risk management career? Discover the steps you should take to become a risk manager, including the skills you need to develop, what to expect at different stages of your career, and how to move up the ladder. The right educational background and work experience can help you start a career as a risk manager or transition into a risk management role from a different field. Read on for five steps to take to break into the risk management job market:
Get your bachelor's degree.
Risk managers are professionals who combine problem solving, analytical, and communication skills, so seek out a four-year degree in finance or accounting. Depending on the school you pick, you may be able to take specific courses in risk management. Also, take classes focused on business administration, portfolio management, and investment. A bachelor's degree in business administration or economics may work as well, provided you obtain enough courses in financial services.
What type of degree should you pursue to become a Risk Manager?
87% of people working as a Risk Manager earned a Bachelor's Degree
What skills do you need to be a Risk Manager?
- Written Communication
- Microsoft Office Suite
- Attention To Detail
- Microsoft EXCEL
- Microsoft Powerpoint
Gain work experience with risk management.
Before you get hired as a risk manager, employers like to see that you have experience in the risk-management field. Seek out entry-level positions in finance, business, or another field like health care that you want to work in. Positions like analyst and accountant can familiarize you with aspects of risk management and will give you industry experience that will help you move into a risk-management role. Build your professional network to learn more about risk management jobs and expectations in your area.
Pursue a master's degree.
Many employers prefer risk managers who have a master's degree. A graduate degree is also a good way to transition into a risk-management role from a different branch of the finance or business world. A Master of Business Administration is a good choice, as is a master's in finance or economics. Look for a program that offers courses in risk management. Many MBA programs are partially online or offer course schedules that allow people to continue to work, so you may not need to leave your current job to pursue your graduate degree.
Get licensed or certified in risk management.
Some industries, like health care, require licensure for risk managers. You may need to take a short course and pass an exam to obtain your license. A certificate will show employers that you have skills in a specific area of risk management, such as IT. Certificates are a good option for mid-career professionals who want to move into a new risk-management role.
Continue to advance.
Once you have your education and job experience, it's time to start working as a risk manager. Remember to continue to learn new skills as you work, whether through continuing education courses or via training offered by your employer.
Risk Management Analyst Career Path
Senior Risk Manager
Risk Manager IV
Total Pay Trajectory
Risk Management Analyst Career Path
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