Risk Analyst
What's it like to be a Risk Analyst?
Risk Analysts foresee potential consequences and errors that may arise from the plans and actions of a company. They present time and money-based forecasts for businesses to predict the results of their endeavours. Risk Analysts present their findings to management using percentages and graphs, providing suggestions to mitigate risk. Risk Analysts work in finance, property development and logistics industries.
Tasks and duties
- Compiling data from various company records for comprehensive risk analysis.
- Forecasting revenue results of company projects and transactions.
- Examining investment portfolios, client, and stakeholder profiles.
- Documenting and organising analyses for further reference.
- Analysing the relationship between the company and current economic and cultural trends.
- Making recommendations to mitigate risks.
- Coordinating with finance team members such as underwriters, insurers, and traders.
- Reviewing company compliance with government and industry regulations.
How to become a Risk Analyst
To work as a Risk Analyst, a bachelor degree in statistics, finance, or mathematics is usually required. Attention to detail, mathematical and analytical skills are essential. Financial proficiency, problem-solving and presentation skills may also be an advantage.
Graduate with a bachelor degree in statistics, finance, mathematics or a related field.
Complete an internship in the finance department of a recognised company.
Get relevant certification, such as Certified Risk Management Professional or Enterprise Risk Management Certification.
Gain four years of relevant industry experience to become eligible for the Chartered Financial Analyst (CFA) qualification.
Take and pass the Level 1, Level 2 and Level 3 Exam together with two to three professional references to apply and register as a Chartered Financial Analyst (CFA).
Specialise in a field, such as credit risk, market risk, or operational risk.
Consider postgraduate education such as a Master of Finance to get promoted to higher levels such as Risk Manager and Chief Risk Officer.
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