Role Description

Math > Risk Officer

Salary National Average

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107420.0000 150380.0000 203550.0000

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Short Description:

A Risk Officer is responsible for identifying, assessing, and mitigating risks that could impact an organization's operations, finances, or compliance. They develop risk management policies, monitor regulatory changes, and ensure the organization adheres to industry standards and best practices. Risk Officers analyze data, conduct risk assessments, and collaborate with leadership to implement strategies that minimize potential threats. They may also oversee internal audits, incident response planning, and risk reporting to senior management. Strong analytical skills, attention to detail, and knowledge of risk management frameworks are essential for this role.

Duties / Responsibilities:

  • Identify, assess, and analyze potential risks that could impact the organization’s financial stability, operations, or reputation.
  • Develop and implement risk management policies, frameworks, and strategies to mitigate identified risks.
  • Monitor and ensure compliance with industry regulations, company policies, and government laws related to risk management.
  • Conduct regular risk assessments, audits, and stress tests to evaluate the effectiveness of risk controls.
  • Provide risk reports and recommendations to senior management and stakeholders to support strategic decision-making.
  • Collaborate with different departments to integrate risk management practices into daily operations and corporate planning.
  • Investigate incidents of fraud, compliance violations, or security breaches and recommend corrective actions.
  • Train employees on risk awareness, compliance protocols, and best practices for minimizing exposure to financial, operational, or reputational risks.
  • Develop contingency plans and crisis management strategies to ensure business continuity in the event of major risks.
  • Stay updated on industry trends, emerging risks, and regulatory changes to adapt risk management strategies accordingly.

Skills / Requirements / Qualifications

  • Education: Bachelor’s degree in finance, business administration, risk management, or a related field required; a master’s degree is a plus.
  • Certifications: Professional certifications such as Certified Risk Manager (CRM), Financial Risk Manager (FRM), or Certified Compliance & Ethics Professional (CCEP) are preferred.
  • Analytical Skills: Strong ability to assess risks, interpret data, and provide risk mitigation strategies.
  • Regulatory Knowledge: Familiarity with risk management frameworks, compliance regulations, and industry best practices.
  • Communication Skills: Excellent verbal and written communication skills to present findings and recommendations to executives and stakeholders.
  • Problem-Solving: Ability to develop proactive strategies to minimize risk exposure and respond effectively to crises.
  • Attention to Detail: Precision in reviewing policies, conducting audits, and ensuring compliance with risk guidelines.
  • Technical Proficiency: Proficiency in risk management software, data analysis tools, and financial modeling applications.

Job Zones

  • Title: Job Zone Four: Considerable Preparation Needed
  • Education: Most of these occupations require a four-year bachelor's degree, but some do not. 
  • Related Experience: A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
  • Job Training: Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
  • Job Zone Examples: Many of these occupations involve coordinating, supervising, managing, or training others. Examples include real estate brokers, sales managers, database administrators, graphic designers, chemists, art directors, and cost estimators.
  • Specific Vocational Preparation in years: (7.0 to < 8.0)

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