Operational Risk Analysts: How to Become One
If you were to ask a group of operational risk analysts about how they arrived at their current job, there's a good chance you would get several different answers about the paths and steps that each person took.
That said, there are still ways that you can develop a baseline understanding of the preparation that is necessary to become one.
The Best Adult Colleges and Careers Guide has gathered data to provide you with insight into the type of education that's commonly required for operational risk analysts to land a job. This page contains information, sourced from real job postings, that describes the experience levels and specific skills that employers of operational risk analysts expect candidates to have. In the end, this information will help you create an education or professional development plan that aligns with your career aspirations.
Keep reading to learn more about career steps for operational risk analysts.
What Education & Experience is Needed for Operational Risk Analysts?
Do operational risk analysts need a degree? What kind of experience do operational risk analysts typically need? Thanks to data sourced from Lightcast™ from real job postings, we can get some clarity on those questions, as well as the level of education that is commonly required for operational risk analysts to secure jobs.
Education Level Required in Job Postings for Operational Risk Analysts
Jobs Postings for Operational Risk Analysts By Education
- Bachelor's degree: 45,432 (54%)
- Master's degree: 16,924 (20%)
- No Education Listed: 13,308 (16%)
- High School or GED: 4,744 (6%)
- Ph.D. or professional degree: 2,996 (4%)
A bachelor's degree is the level of education sought the most by employers of operational risk analysts. According to job data, a bachelor's degree was required for 54% of positions. In 20% of job listings a master's degree was required and in 16% of postings no education level was listed.
Experience Level Required in Job Postings for Operational Risk Analysts
Jobs Postings for Operational Risk Analysts By Experience
- 0-1 Years: 2,745 (6%)
- 2-3 Years: 11,190 (25%)
- 4-6 Years: 17,038 (38%)
- 7-9 Years: 7,193 (16%)
- 10+ Years: 6,981 (15%)
While the amount of required experience will vary based on the responsibility and seniority of the position, an aggregate view of job posting data can help paint a picture of the experience level sought for most job openings for operational risk analysts. In 38% of job postings for Operational Risk Analysts, employers were looking for candidates with 4-6 years of experience. In 25% of listings employers were looking for candidates with 2-3 years of experience, while 7-9 years of experience was sought in 16% of job postings for operational risk analysts.
What Kind of Degree Do Operational Risk Analysts Need?
So far this page has provided detail into the level of education and the amount of experience required in job openings for operational risk analysts, but what type of education or degree will help prepare you for a career in the field?
According to occupational data obtained through Lightcast,™ there are 17 key academic programs that can help prepare prospective operational risk analysts, and in 2023 a total of 113,652 of those programs were completed at institutions in the United States.
Check out the information below to learn more about the specific programs that should be considered by prospective operational risk analysts.
Top Degree Programs for Operational Risk Analysts
Top 5 Degree Programs for Operational Risk Analysts (2023)
| Program | Completions |
|---|---|
| Finance, General. | 50,779 |
| Mathematics, General. | 26,754 |
| Entrepreneurship/Entrepreneurial Studies. | 9,123 |
| Financial Mathematics. | 5,552 |
| Financial Planning and Services. | 5,054 |
| Program | Completions |
|---|---|
| Finance, General. | 50,779 |
| Mathematics, General. | 26,754 |
| Entrepreneurship/Entrepreneurial Studies. | 9,123 |
| Financial Mathematics. | 5,552 |
| Financial Planning and Services. | 5,054 |
| Applied Mathematics, General. | 4,571 |
| Project Management. | 4,299 |
| Accounting and Finance. | 3,492 |
| Accounting and Business/Management. | 1,214 |
| Banking and Financial Support Services. | 1,034 |
| Financial Analytics. | 729 |
| Investments and Securities. | 374 |
| Entrepreneurial and Small Business Operations, Other. | 335 |
| Risk Management. | 177 |
| International Finance. | 138 |
| Public Finance. | 25 |
| Financial Risk Management. | 2 |
What Skills Do Operational Risk Analysts Need?
Education and experience have been covered, so what are the specific skills and traits needed by operational risk analysts to secure a job?
A good way to understand this is to examine actual job postings for skills commonly sought by employers. Continue reading for a breakdown of specialized skills found in job postings for operational risk analysts, as well as common skills that can help you thrive in the workplace.
In-Demand Skills for Today's Operational Risk Analysts
Based on 63,835 job postings
Top 5 Specialized Skills for Operational Risk Analysts
| Skills | Postings | % of Total Postings |
|---|---|---|
| Risk Management | 43,540 | 68% |
| Risk Analysis | 21,110 | 33% |
| Auditing | 18,454 | 29% |
| Finance | 16,063 | 25% |
| Project Management | 14,148 | 22% |
Top 5 Common Skills for Operational Risk Analysts
| Skills | Postings | % of Total Postings |
|---|---|---|
| Management | 38,481 | 60% |
| Communication | 32,259 | 51% |
| Leadership | 21,430 | 34% |
| Operations | 19,100 | 30% |
| Problem Solving | 15,270 | 24% |
Based on 63,835 job postings related to operational risk analysts, risk management was the top specialized skill sought by employers, with 68% of all postings looking for that skillset. Skills for risk analysis, auditing, finance, project management and financial services were also highly sought.
As for common skills, management was the most desired skill found in job postings for operational risk analysts, followed by communication, leadership, operations, problem solving and microsoft excel.
| Skill | Postings | % of Total Postings |
|---|---|---|
| Risk Management | 43,540 | 68% |
| Risk Analysis | 21,110 | 33% |
| Auditing | 18,454 | 29% |
| Finance | 16,063 | 25% |
| Project Management | 14,148 | 22% |
| Financial Services | 10,866 | 17% |
| Accounting | 10,427 | 16% |
| Data Analysis | 10,063 | 16% |
| Operational Risk | 8,185 | 13% |
| Internal Auditing | 7,833 | 12% |
| Risk Mitigation | 7,783 | 12% |
| Underwriting | 7,460 | 12% |
| Economics | 7,048 | 11% |
| Mitigation | 6,986 | 11% |
| Internal Controls | 6,748 | 11% |
| Regulatory Compliance | 6,603 | 10% |
| SQL (Programming Language) | 6,119 | 10% |
| Credit Risk | 5,989 | 9% |
| Process Improvement | 5,985 | 9% |
| Business Process | 5,943 | 9% |
| Skill | Postings | % of Total Postings |
|---|---|---|
| Management | 38,481 | 60% |
| Communication | 32,259 | 51% |
| Leadership | 21,430 | 34% |
| Operations | 19,100 | 30% |
| Problem Solving | 15,270 | 24% |
| Microsoft Excel | 14,324 | 22% |
| Governance | 14,255 | 22% |
| Writing | 13,940 | 22% |
| Presentations | 13,072 | 20% |
| Detail Oriented | 12,857 | 20% |
| Microsoft Office | 12,003 | 19% |
| Influencing Skills | 10,937 | 17% |
| Microsoft PowerPoint | 10,866 | 17% |
| Verbal Communication Skills | 9,860 | 15% |
| Coordinating | 9,667 | 15% |
| Planning | 9,456 | 15% |
| Research | 9,427 | 15% |
| Interpersonal Communications | 8,827 | 14% |
| Consulting | 8,206 | 13% |
| Analytical Skills | 8,102 | 13% |
Additional Links
Ready to dig deeper into career information about operational risk analysts? Visit our other pages focused on salary and education for operational risk analysts.
What do operational risk analysts do?
How much do operational risk analysts make?
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