I am responsible for helping to strengthen the linkages between the insurer's loss prevention engineering expertise and the company's cyber insurance product. My team spends a lot of time conducting experiments in a lab to measure risk factors such as earthquakes, fire, flooding, etc. Our challenge now is to design these same kinds of experiments in the digital sphere in order to mitigate our client's cyber risks. No two days are ever the same and my job is definitely not a "9-to-5".
CAREER
Financial Risk Specialists
Overview
Salary Median (2020)
$83,660
Projected Job Growth (2019-2029)
+5.5% (as fast as the average)
Career
Roadtrip Nation Leaders in This Career
What Financial Risk Specialists Do
Analyze and measure exposure to credit and market risk threatening the assets, earning capacity, or economic state of an organization. May make recommendations to limit risk.
Other Job Titles Financial Risk Specialists May Have
Analyst, Equity Research Analyst, Risk Analyst, Risk Manager, Risk Specialist, Securities Analyst
How Leaders Describe a Typical Day at Work
No two days are alike. With diverse responsibilities, there is always something brewing that needs attention. A day in the life tends to include problem-solving and partnering with other business units to support business goals.
Tasks & Responsibilities May Include
- Analyze areas of potential risk to the assets, earning capacity, or success of organizations.
- Analyze new legislation to determine impact on risk exposure.
- Conduct statistical analyses to quantify risk, using statistical analysis software or econometric models.
- Confer with traders to identify and communicate risks associated with specific trading strategies or positions.
- Consult financial literature to ensure use of the latest models or statistical techniques.
Education
Level of Education Attained by Financial Risk Specialists
No data currently available.
Stay tuned! We’ll update this section as soon as data is available.Majors Related to Career
Educational Paths Suggested by Leaders
Suggested Path
High School
Bachelor
Insurance
Suggested Path
High School
Bachelor
Insurance
Bachelor
Sales, Distribution, and Marketing Operations, General
Additional Skills & Experiences That Can Help You Excel
Practice your analytical thinking. Teamwork is a huge aspect of this work, so get comfortable working with others. Trust is also a huge factor in risk assessment. Being honest with your clients and building a relationship based on trust is crucial.
Great communication skills are key, without a doubt. The ability to collaborate and network are important as well. You need to know what is happening across the business in order to facilitate mitigation of risk exposures.
Getting Started
Recommended First Step for:
High School Students
Take advanced math.
Determine if you enjoy writing? Do you like interacting with people? Are you a critical thinker? Do you view options from different perspectives and are able to articulate pro's and con's of an issue? These are some things that come to mind that might be helpful in a role like mine.
Take some economics classes, but it's important to focus on math.
Start to identify mathematical concepts and become comfortable with them. This will make the transition to business and finance classes much easier.
College Students
Everyone
This page includes information from theO*NET 26.1 Databaseby the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under theCC BY 4.0license. O*NET® is a trademark of USDOL/ETA.
