A risk manager is hired by a company to assess their business operations and figure out any potential threats to that company’s business – and then devise a plan to eliminate those threats and prevent them from reoccurring in the future. Additionally, a risk manager is also responsible for managing the risk factors for not only the company that employs them, but also for any other important figures related to that company, such as its clients and stakeholders. A risk manager typically does their job by assessing the risk attached to a particular move versus the rewards the company can realize from it, and assessing the situation.
A Bachelor’s degree is required to get the job in most cases, and the accepted fields can vary quite a lot – the job isn’t that difficult to obtain for the most part. However, the market for it tends to be quite densely populated and a risk manager can greatly benefit from having prior working experience and general knowledge related to the job, in order to ensure a competitive edge over the other candidates for positions.
The average annual salary of a risk manager is between $81,000 – $110,000, and the job offers some good additional benefits. On the other hand, the working hours can be highly inflexible and otherwise inconvenient for those who practice the job, and the workload imposed on risk managers can sometimes be very high. Still, the opportunities presented by the job make it a very popular choice in the job market.