Job-seekers can find risk management careers with the right training and credentials. Risk management techniques are used by corporate planners, financial analysts, insurance policy writers and many more professionals. Entry-level instruction might include courses that explain the duties of a project manager and how to reduce the risks involved in a project. Other jobs in risk management go to administrative managers who move into risk management after training in which they learn specific strategies to neutralize and mitigate risk.

To develop a career in risk management, watch for training in business continuity and crisis management, occupational safety and health, public sector risk and environmental risk as your professional development progresses.

1. Watch for entry-level training to start a risk management career.

2. Look for advanced training to excel at enterprise risk management jobs.

3. Participate in trade groups for professional development training that can further a risk management career.

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Seek basic training for entry-level risk management employment

Watch for the risk management career trends that are leading the industry to point you to the training that you need now. Look for courses that focus on the basics of the risk management process covering compliance, safety and cost issues.

I recommend: Futron offers a multitude of courses designed to provide a basic level of risk management competency. ESI International offers classes on-site or online that include an introduction to the field of risk management and cover the basics in the risk factors of certain events.

Find advanced training to enhance your risk management career

Look for advanced professional development courses to land a better risk manager job. Find courses geared toward executive level skills needed in the risk management arena. Once you've been working in the field, look for advanced courses in risk management that are geared toward project leadership and team-building skills.

I recommend: Check out the advanced programs at Wharton Aresty Institute of Executive Education to pursue training that can move you up in your career. Experienced risk management professionals can find advanced courses through Boston University and its affiliates.

Join associations that offer training for risk assessment jobs to their members

Most trade associations offer continuing education and professional development courses for jobs in risk management. Some groups can guide you to courses that will help you advance your career, including banking and institutional investment risk management designations.

I recommend: Find the seminars and professional development training you need through the Risk Management Association. Check out the Institute for Risk Management to take advantage of the premier training programs and networking opportunities.

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Helpful advice for making the most of this Guide

• •  Look for entry-level risk management job openings that offer on-the-job training to help you climb the risk-management career ladder.

Risk management is an important aspect of any company. Because of this, it is easy to find risk management job openings in many parts of the country.

Someone who has a risk management job sometimes oversees many areas of a company and monitors them to reduce the risk involved. Other risk management jobs require working for an insurance company to determine the level of risk that a potential customer provides. In either case, a risk management career should prove to be steady.

Those who are interested in risk management careers should:

1. Seek out risk management employment opportunities online.
2. Consider a career as a freelance risk management consultant.
3. Be able to communicate well through writing and speaking.
   

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Receive a degree in business to get the best risk management jobs

You may be able to secure an entry-level position with just a high school diploma and some work experience, but many jobs in risk management require some education.

I recommend: The Institute of Risk Management offers professional certificates and diplomas in risk management.

Take risk management courses to get ahead

If you did not receive risk management training as part of your college degree, or if you do not have a college degree, you can take individual risk management courses to help you gain the skills you need to succeed.

I recommend: The Risk Management Association offers training course, as does The Federal Deposit Insurance Corporation (FDIC), a well-known organization associated with the government.

Use online sources to apply for risk management employment

Online job boards make it easy to find and apply for jobs in your area. A simple search can lead you to the risk management career you have been looking for.

I recommend: Great Insurance Jobs is a great place to start your search for risk management employment. GlobalRiskJobs is another job board specifically for those looking for employment in the risk management field.

Manage your resume for a great risk manager job

In a tough marketplace, your resume needs to look great in order to get an interview. Professional resume writers will give you an edge over the competition.

I recommend: CareerPerfect.com can help you have a professional looking resume before you start applying for risk management positions.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If you want to own your own consulting business, make sure that you have taken courses in business management to help you along.
• •  Networking with other professionals is a great way to enhance your risk management career. You may find out about risk management job openings before they even hit the papers.

Risk management careers require a broad range of skills. You must be a creative problem-solver and know a thing or two about technology. Good communication skills and business knowledge is necessary. Understanding complicated financial data is an important skill, too, as most risk management careers are based in the finance and insurance sectors.

A risk management job description is not one-size-fits-all. The role is going to be different for every business. But in general, someone working as a risk manager reviews company policies and business practices. From there, he or she identifies potential risks that could compromise the viability of the business. Then, those in risk management find ways to eliminate or lessen those risks.

Consider the following information on risk management:

1. Risk management job openings advertise for someone with analytical skills and technological know-how.

2. Some risk management positions may require proficiency in a foreign language, especially when dealing with international finance.

3. Risk manager employment may include work at a consulting firm, or even starting your own after you obtain some valuable experience.

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Enroll in college classes for risk management jobs education and training

At minimum, a bachelor's degree in accounting, finance, economics, business administration or a related field is required to work as a financial manager. But nowadays, employers look for a master's degree with an emphasis on a particular area such as risk management.

I recommend: Learn more about Ball State University's bachelor degree program in risk management. After graduating with a bachelor's degree, consider obtaining a master's degree through a program like the one at Ellis University.

Earn your certificate to better your risk management employment prospects

Enhance your skills by achieving professional certification in risk management. Different associations and educational institutions offer professional certification programs, each with their own set of qualifications and course work requirements.

I recommend: Six courses are required by the Stanford Center for Professional Development at Stanford University. You can choose to take the courses online or on campus. Or get certified via the Professional Risk Managers' International Association.

Receive ongoing training to better compete and retain jobs in risk management

The financial and insurance industries change on a daily basis. Keeping up to date on the latest industry trends, laws and advancements is key to staying on top in your field. Not only do educational institutions offer continuing education courses, sometimes banks and financial associations provide training programs as well.

I recommend: The Institute of Risk Management and the Insurance Educational Association provide professional development programs to further your career.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Employers also place a great emphasis on experience, sometimes even more than education, for some risk management jobs. Many risk management jobs in the banking industry are filled by promoting from within the company.

Risk management jobs center around the identification of risks. After identifying them, the risks are put into an order of importance. Risk management teams gather and try to come up with game plans to minimize, monitor, or, at times, control the probability that the risky scenarios will occur. Many risk management jobs are located in the financial area, dealing with credit and lending.

If you are interested in changing careers to a position in the risk management field, or want to learn more about risk management jobs, here are a few key terms to help you get started on your journey of risk management knowledge.

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Fraud

Fraud is the act of intentionally falsifying information in order to deceive another party. Fraud can happen when people are filling out credit applications or applying for a bank loan.

I recommend: Visit the International Risk Management Institute for more information on fraud and other risk management key terms.

Risk assessment policy

A risk assessment policy is the overall guideline used to determine the level of risk in certain scenarios. An example of when a risk assessment policy would come into action would be when considering the loan application of a person with a low credit score.

I recommend: At the Food and Agriculture Organization of the United Nations, you can find a more technical definition of a risk assessment policy.

Credit scoring

When a financial institution performs credit scoring, the risk management department uses a standard formula to determine a credit score that will show a person's or business's credit worthiness. For example, a low score might mean they are less inclined to pay their bills on time and therefore, would carry a higher risk.

I recommend: At MSN, you can read about credit scoring.

Risk capital

Risk capital is money that is invested in small or start-up companies in return for equity in that company. Typically, these companies cannot get funding from any other sources because they carry a high risk factor.

I recommend: If you head over to InvestorWords.com, you can find a definition for risk capital.

Risk sharing

When a company performs risk sharing, they spread the risk across a few companies. This may mean they outsource some work to another company or they purchase extra insurance to protect against a negative outcome.

I recommend: There is a definition of risk sharing at Businessdictionary.com.

Default probability

A recipient of a loan or other financial support gets a default probability score by a risk management department. That score signifies the probability that the loan will go into default.

I recommend: At Risk Limited Corporation, you can find more information on default probability.