What does a Risk Consultant do?
Risk consultants use their business, finance, and mathematics expertise to help firms seeking to decrease or eliminate risk while performing operational, financial, and technological business processes. They help clients to identify, understand, and manage risks related to daily operations. They provide clients with the necessary capacity to improve internal controls and corporate assurance frameworks while tackling the companies’ hazards and identifying risky opportunities.
Risk consultants oversee corporate risk management programs to guarantee minimal loss exposure, and execute compliance and clerical functions. They manage corporate insurance information and create and administer insurance budgets for a company. They help organizations re-evaluate operational procedures and guidelines to ensure that newly-established procedures align with top leadership directives, industry standards, and regulations. Risk consultants also discuss property and liability claims with relevant parties and need a bachelor's degree in business.
- Assist in proposal and business development opportunities as needed.
- Recognize, research and participate in the resolution of client engagement issues.
- Participate in client and internal presentations, work product, report development and deliverable creation.
- Build credibility with and create customer satisfaction by demonstrating the value of risk control services.
- Listen effectively and make sound assessments/conclusions based on review of written procedures, documents, discussions, and observations.
- Communicate in a manner that influences others to accept and act on recommendations.
- Work collaboratively as part of a team, proactively across lines of business, and effectively with internal and external partners on special projects and furthering industry and business goals.
- Demonstrate sound judgment and effective decision making in order to mitigate risk.
- Complete assigned tasks within scope through effective time management initiatives.
- Contribute to the work planning and status reporting on assigned engagements.
- Bachelor's Degree in business or computer science.
- Strong leadership, problem solving, and critical thinking skills.
- Requires careful attention to detail.
How much does a Risk Consultant make?
Base Pay
Additional Pay
$104,411
/ yrRisk Consultant Career Path
Learn how to become a Risk Consultant, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
Risk Consultant Insights
Optum“This is definitely a good place to get initial training but leave before you get advanced into production; that is where it really goes downhill.”
Decision Analysis Services“Unique opportunities and keen to support your personal development.”
PwC“Good nice good nice good”
Tickmarks“The projects I am involved have provided me with immense opportunities to learn Flexible timings Amazing exposure Recognition for good work”
EY“Salary not good if you start there and work your way up”
PwC“The balance of work and life outside of it”
ICW Group“Annual review process is undefined.”
Wells Fargo“In order to advance your career financially you need to position hop to get meaningful raises.”
Frequently asked questions about the roles and responsibilities of a Risk Consultant
- Business Consultant
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- Consultant
- Management Consultant