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Risk Management Specialists

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Analyze and manage risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.

    Work Activities
    • Develop contingency plans to deal with emergencies.
    • Recommend ways to control or reduce risk.
    • Analyze areas of potential risk to the assets, earning capacity, or success of organizations.
    • Document, and ensure communication of, key risks.
    • Maintain input or data quality of risk management systems.
    • Evaluate the risks related to green investments, such as renewable energy company stocks.
    • Gather risk-related data from internal or external resources.
    • Confer with traders to identify and communicate risks associated with specific trading strategies or positions.
    • Develop or implement risk-assessment models or methodologies.
    • Determine potential environmental impacts of new products or processes on long-term growth and profitability.
    • Devise systems or processes to monitor validity of risk assessments.
    • Meet with clients to answer queries on subjects such as risk exposure, market scenarios, or values-at-risk calculations.
    • Produce reports or presentations that outline findings, explain risk positions, or recommend changes.
    • Contribute to development of risk management systems.
    • Track, measure, or report on aspects of market risk for traded issues.
    • Identify key risks and mitigating factors of potential investments, such as asset types and values, legal and ownership structures, professional reputations, customer bases, or industry segments.
    • Devise scenario analyses reflecting possible severe market events.
    • Review or draft risk disclosures for offer documents.
    • Conduct statistical analyses to quantify risk, using statistical analysis software or econometric models.
    • Analyze new legislation to determine impact on risk exposure.
    • Evaluate the risks and benefits involved in implementing green building technologies.
    • Provide statistical modeling advice to other departments.
    • Determine potential liability related to the use of more sustainable methods of product packaging, such as biodegradable food containers.
    • Consult financial literature to ensure use of the latest models or statistical techniques.
    Skills
    • Critical Thinking

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

    • Reading Comprehension

      Understanding written sentences and paragraphs in work related documents.

    • 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.

    WorkKeys®
    Applied Math
    5
    Workplace Documents
    5
    Graphic Literacy
    5
    Abilities
    • Problem Sensitivity

      The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.

    • Deductive Reasoning

      The ability to apply general rules to specific problems to produce answers that make sense.

    • Inductive Reasoning

      The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).

    Knowledge
    • English Language

      Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.

    • Administration and Management

      Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.

    • Law and Government

      Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.

    Career Video
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    Pay
    • Ohio Annual Salary $75,670/yr
    • Typical Salary
    • Ohio Hourly Wage $36.38/hr
    • Typical Hourly Wage
    Ohio Employment Trends
    • Currently Employed 5,790
    • Yearly Projected Openings 570
    Typical Education
    Personality
    Conventional: People interested in this work like activities that include data, detail, and regular routines. They do well at jobs that need:
    • Analytical Thinking
    • Initiative
    • Integrity
    • Attention to Detail
    • Leadership
    • Dependability
    Tools
    • Special purpose telephones
    • Scanners
    • Personal computers
    • Notebook computers
    • Desktop computers
    Technology
    • Project management software
    • Data base user interface and query software
    • Data base management system software
    • Business intelligence and data analysis software
    • Analytical or scientific software
    Tags
    • Bright Outlook occupations will grow rapidly in the next few years, have a large number of openings, or are new and emerging careers.
    • Green occupations are jobs that contribute to energy conservation, development of alternative energy, reducing pollution, or recycling.