Risk Management Specialists: How to Become One
If you were to ask a group of risk management specialists 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 risk management specialists to land a job. This page contains information, sourced from real job postings, that describes the experience levels and specific skills that employers of risk management specialists 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 risk management specialists.
What Education & Experience is Needed for Risk Management Specialists?
Do risk management specialists need a degree? What kind of experience do risk management specialists 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 risk management specialists to secure jobs.
Education Level Required in Job Postings for Risk Management Specialists
Jobs Postings for Risk Management Specialists By Education
- Bachelor's degree: 38,406 (57%)
- Master's degree: 13,474 (20%)
- No Education Listed: 10,658 (16%)
- High School or GED: 2,937 (4%)
- Ph.D. or professional degree: 2,228 (3%)
A bachelor's degree is the level of education sought the most by employers of risk management specialists. According to job data, a bachelor's degree was required for 57% 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 Risk Management Specialists
Jobs Postings for Risk Management Specialists By Experience
- 0-1 Years: 2,436 (6%)
- 2-3 Years: 9,138 (24%)
- 4-6 Years: 15,186 (40%)
- 7-9 Years: 5,968 (16%)
- 10+ Years: 5,674 (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 risk management specialists. In 40% of job postings for Risk Management Specialists, employers were looking for candidates with 4-6 years of experience. In 24% 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 risk management specialists.
What Kind of Degree Do Risk Management Specialists Need?
So far this page has provided detail into the level of education and the amount of experience required in job openings for risk management specialists, 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 16 key academic programs that can help prepare prospective risk management specialists, and in 2021 a total of 84,766 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 risk management specialists.
Top Degree Programs for Risk Management Specialists
Top 5 Degree Programs for Risk Management Specialists (2021)
Program | Completions |
---|---|
Finance, General. | 51,430 |
Entrepreneurship/Entrepreneurial Studies. | 8,340 |
Applied Mathematics, General. | 4,658 |
Financial Mathematics. | 4,612 |
Project Management. | 4,155 |
Program | Completions |
---|---|
Finance, General. | 51,430 |
Entrepreneurship/Entrepreneurial Studies. | 8,340 |
Applied Mathematics, General. | 4,658 |
Financial Mathematics. | 4,612 |
Project Management. | 4,155 |
Financial Planning and Services. | 4,087 |
Accounting and Finance. | 3,644 |
Accounting and Business/Management. | 1,537 |
Banking and Financial Support Services. | 991 |
Risk Management. | 396 |
Entrepreneurial and Small Business Operations, Other. | 387 |
Investments and Securities. | 346 |
International Finance. | 121 |
Public Finance. | 48 |
Financial Analytics. | 13 |
Financial Risk Management. | 1 |
What Skills Do Risk Management Specialists Need?
Education and experience have been covered, so what are the specific skills and traits needed by risk management specialists 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 risk management specialists, as well as common skills that can help you thrive in the workplace.
In-Demand Skills for Today's Risk Management Specialists
Based on 52,369 job postings
Top 5 Specialized Skills for Risk Management Specialists
Skills | Postings | % of Total Postings |
---|---|---|
Risk Management | 38,047 | 73% |
Risk Analysis | 21,186 | 40% |
Auditing | 17,324 | 33% |
Finance | 13,452 | 26% |
Project Management | 13,262 | 25% |
Top 5 Common Skills for Risk Management Specialists
Skills | Postings | % of Total Postings |
---|---|---|
Management | 34,141 | 65% |
Communications | 28,301 | 54% |
Leadership | 18,685 | 36% |
Operations | 16,033 | 31% |
Governance | 14,297 | 27% |
Based on 52,369 job postings related to risk management specialists, risk management was the top specialized skill sought by employers, with 73% 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 risk management specialists, followed by communications, leadership, operations, governance and microsoft excel.
Skill | Postings | % of Total Postings |
---|---|---|
Risk Management | 38,047 | 73% |
Risk Analysis | 21,186 | 40% |
Auditing | 17,324 | 33% |
Finance | 13,452 | 26% |
Project Management | 13,262 | 25% |
Financial Services | 9,904 | 19% |
Operational Risk | 9,763 | 19% |
Accounting | 8,630 | 16% |
Data Analysis | 8,585 | 16% |
Risk Mitigation | 6,952 | 13% |
Regulatory Compliance | 6,800 | 13% |
Internal Controls | 6,626 | 13% |
Internal Auditing | 6,029 | 12% |
Mitigation | 5,915 | 11% |
Process Improvement | 5,722 | 11% |
Risk Appetite | 5,573 | 11% |
Economics | 5,559 | 11% |
Business Process | 5,556 | 11% |
Underwriting | 5,182 | 10% |
Emerging Risk | 5,050 | 10% |
Skill | Postings | % of Total Postings |
---|---|---|
Management | 34,141 | 65% |
Communications | 28,301 | 54% |
Leadership | 18,685 | 36% |
Operations | 16,033 | 31% |
Governance | 14,297 | 27% |
Microsoft Excel | 14,081 | 27% |
Problem Solving | 13,329 | 25% |
Writing | 11,724 | 22% |
Detail Oriented | 11,338 | 22% |
Microsoft PowerPoint | 11,088 | 21% |
Influencing Skills | 10,795 | 21% |
Presentations | 10,679 | 20% |
Microsoft Office | 10,466 | 20% |
Planning | 8,706 | 17% |
Research | 8,412 | 16% |
Consulting | 8,185 | 16% |
Verbal Communication Skills | 7,771 | 15% |
Interpersonal Communications | 7,738 | 15% |
Analytical Skills | 7,642 | 15% |
Coordinating | 7,313 | 14% |
Additional Links
Ready to dig deeper into career information about risk management specialists? Visit our other pages focused on salary and education for risk management specialists.
What do risk management specialists do?
How much do risk management specialists make?
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