The role of a Risk Manager is to communicate risk policies and processes, provide hands-on development of risk models involving market, credit and operational risk, assure controls are operating effectively and provide research and analytical support. Risk Managers have excellent quantitative and analytical skills and have the ability to apply those skills across a variety of business processes.
- Designing and implementing an overall risk management process for the organisation , which will include an analysis of the financial impact on the company when risks occur
- Performing a risk assessment: analysing current risks and identifying potential risks that are affecting the company
- Performing a risk evaluation: evaluating the company’s previous handling of risks, and comparing potential risks with criteria set out by the company such as costs and legal requirements
- Establishing the level of risk the company are willing to take
- Preparing risk management and insurance budgets
- Risk reporting tailored to the relevant audience. So, educating the board of directors in the most significant risks to the business; ensuring business heads understand the risks that might affect their departments; ensuring individuals understand their own accountability for individual risks
- Explaining the external risk posed by corporate governance to stakeholders
- Creating business continuity plans to limit risks
- Implementing health and safety measures and purchasing insurance
- Conducting policy and compliance audits, which will include liaising with internal and external auditors
- Maintaining records of insurance policies and claims
- Reviewing any new major contracts or internal business proposals
- Building risk awareness amongst staff by providing support and training to staff within the company
A degree in the following subjects is not vital but may increase your chances of employment:
- Risk management
- Management or business studies
- Finance or economics
Post-graduate degrees are not mandatory but may also be beneficial.
If you don’t have a degree, a career in risk management is certainly still possible but would mean working up the career path, likely starting at an administrative level.
For anyone wanting to undertake a career in risk management, it’s important to display the following skills:
- Analytical skills and an eye for detail
- Commercial awareness
- Numerical skills
- Planning and organisational skills
- Ability to understand broader business issues
- Communication and presentation skills
Please note, this is a national average - to compare your salary, and receive data on salaries for your local state or territory, visit our salary calculator.
Search for risk management jobs in Australia below:
- Search for risk management jobs in Sydney
- Search for risk management jobs in Melbourne
- Search for risk management jobs in Brisbane
- Search for risk management jobs in Perth
Browse through our current list of risk management jobs in Australia below, or contact a Robert Half recruitment consultant to discuss further opportunities.