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Risk Management Specialist

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What is a Risk Management Specialist?

Example of Risk Management Specialist Job Analyze and manage risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.

Daily Life Of a Risk Management Specialist

  • Document, and ensure communication of, key risks.
  • Evaluate the risks and benefits involved in implementing green building technologies.
  • Provide statistical modeling advice to other departments.
  • Devise systems or processes to monitor validity of risk assessments.
  • Gather risk-related data from internal or external resources.
  • Consult financial literature to ensure use of the latest models or statistical techniques.

Risk Management Specialist Skills

When polled, Risk Management Specialists say the following skills are most frequently used in their jobs:

Reading Comprehension: Understanding written sentences and paragraphs in work related documents.

Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Speaking: Talking to others to convey information effectively.

Systems Analysis: Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.

Writing: Communicating effectively in writing as appropriate for the needs of the audience.

  • Risk Management Analyst
  • Loss Control Consultant
  • Operational Risk Analyst
  • Risk Manager
  • Operational Risk Manager

Are There Job Opportunities for Risk Management Specialists?

In 2016, there was an estimated number of 135,900 jobs in the United States for Risk Management Specialist. New jobs are being produced at a rate of 9.6% which is above the national average. The Bureau of Labor Statistics predicts 13,100 new jobs for Risk Management Specialist by 2026. The BLS estimates 13,100 yearly job openings in this field.

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The states with the most job growth for Risk Management Specialist are Utah, Nevada, and Arizona. Watch out if you plan on working in South Dakota, Maryland, or Alaska. These states have the worst job growth for this type of profession.

How Much Does a Risk Management Specialist Make?

The average yearly salary of a Risk Management Specialist ranges between $38,030 and $123,360.

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Risk Management Specialists who work in District of Columbia, Virginia, or Illinois, make the highest salaries.

Below is a list of the median annual salaries for Risk Management Specialists in different U.S. states.

State Annual Mean Salary
Alabama $75,170
Alaska $68,040
Arizona $82,200
Arkansas $43,580
California $80,720
Colorado $83,800
Connecticut $77,690
Delaware $80,950
District of Columbia $107,760
Florida $67,520
Georgia $85,610
Idaho $56,440
Illinois $93,200
Indiana $66,590
Iowa $69,480
Kansas $55,300
Kentucky $57,030
Louisiana $61,170
Maine $65,430
Maryland $77,440
Massachusetts $88,370
Michigan $69,480
Minnesota $74,190
Mississippi $63,650
Missouri $74,050
Montana $67,820
Nebraska $79,250
Nevada $58,150
New Hampshire $77,670
New Jersey $81,660
New Mexico $61,940
New York $96,480
North Carolina $76,050
North Dakota $77,400
Ohio $78,960
Oklahoma $72,520
Oregon $71,980
Pennsylvania $74,880
Rhode Island $77,610
South Carolina $69,340
South Dakota $53,080
Tennessee $65,200
Texas $70,830
Utah $69,340
Vermont $72,600
Virginia $87,810
Washington $73,790
West Virginia $68,180
Wisconsin $60,120
Wyoming $59,190

Tools & Technologies Used by Risk Management Specialists

Although they’re not necessarily needed for all jobs, the following technologies are used by many Risk Management Specialists:

  • Microsoft Excel
  • Microsoft Word
  • Microsoft Office
  • Microsoft PowerPoint
  • Microsoft Outlook
  • Web browser software
  • Microsoft Access
  • SAP
  • Microsoft Project
  • Microsoft Visio
  • Microsoft SharePoint
  • Structured query language SQL
  • The MathWorks MATLAB
  • SAS
  • Linux
  • Ruby
  • Microsoft Visual Basic
  • IBM SPSS Statistics
  • UNIX
  • Microsoft SQL Server

How to Become a Risk Management Specialist

Are there Risk Management Specialists education requirements?

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What work experience do I need to become a Risk Management Specialist?

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Where do Risk Management Specialists Work?

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Risk Management Specialists work in the following industries:

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Other Jobs You May be Interested In

Those interested in being a Risk Management Specialist may also be interested in:

Career changers with experience as a Risk Management Specialist sometimes find work in one of the following fields:

References:

Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic

More about our data sources and methodologies.

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