Details Report for:
13-2099.02 - Risk Management Specialists
Analyze and make decisions on risk management issues by identifying, measuring and managing operational and enterprise risks for an organization.
This title represents an occupation for which data collection is currently underway.
Tasks | Interests | Work Values | Education | Wages & Employment
Tasks Save Table (XLS/CSV)
- Confer with traders to identify and communicate risks associated with specific trading strategies and positions.
- Identify and analyze areas of potential risk to the assets, earning capacity, or success of organizations.
- 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.
- Conduct statistical analyses to quantify risk, using statistical analysis software and econometric models.
- Document, and ensure communication of, key risks.
- Devise systems and processes to monitor validity of risk modeling outputs.
- Develop and implement risk-assessment models and methodologies.
- Gather risk-related data from internal or external resources.
- Plan, and contribute to development of, risk management systems.
- Produce reports and presentations that outline findings, explain risk positions, and recommend changes.
- Recommend ways to control or reduce risk.
- Track, measure, and report on aspects of market risk for traded issues.
- Analyze new legislation to determine impact on risk exposure.
- Consult financial literature to ensure use of the latest models and statistical techniques.
- Develop contingency plans to deal with emergencies.
- Devise scenario analyses reflecting possible severe market events.
- Maintain input and data quality of risk management systems.
- Meet with clients to answer queries on such subjects as risk exposure, market scenarios, and values-at-risk calculations.
- Provide statistical modeling advice to other departments.
- Review and draft risk disclosures for offer documents.
Interests Save Table (XLS/CSV)
 Occupational Interest |
Interest |
|
|---|---|---|
100   |
Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow. | |
| 78 |
Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business. | |
| 61 |
Investigative — Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally. | |
| 28 |
Realistic — Realistic occupations frequently involve work activities that include practical, hands-on problems and solutions. They often deal with plants, animals, and real-world materials like wood, tools, and machinery. Many of the occupations require working outside, and do not involve a lot of paperwork or working closely with others. | |
| 6 |
Artistic — Artistic occupations frequently involve working with forms, designs and patterns. They often require self-expression and the work can be done without following a clear set of rules. | |
| 6 |
Social — Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others. | |
Work Values Save Table (XLS/CSV)
Extent |
Work Value |
|
|---|---|---|
| 67 |
Achievement — Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement. | |
| 67 |
Independence — Occupations that satisfy this work value allow employs to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy. | |
| 67 |
Recognition — Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status. | |
| 53 |
Working Conditions — Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions. | |
| 50 |
Relationships — Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service. | |
| 50 |
Support — Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical. | |
Education
Education data collected from Financial Specialists, All Other.
Percentage of Respondents |
Education Level Attained |
|---|---|
| 50 |
Bachelor's degree or higher |
| 34 |
Some college |
| 17 |
High school or less |
Source: Bureau of Labor Statistics
survey of employees aged 25-44.
This occupation may require a background in the following science, technology, engineering, and mathematics (STEM) educational disciplines:
Mathematics — Actuarial Science
Wages & Employment Trends
National
Median wages data collected from Financial Specialists, All Other.
Employment data collected from Financial Specialists, All Other.
Industry data collected from Financial Specialists, All Other.
| Median wages (2008) | $27.48 hourly, $57,150 annual |
| Employment (2008) | 151,000 employees |
| Projected growth (2008-2018) | 
Average (7% to 13%)
|
| Projected job openings (2008-2018) | 43,200 |
| Top industries (2008) | Finance and Insurance (38% employed in this sector)
Government (22%)
|
State & National
Source: Bureau of Labor Statistics 2008 wage data
and 2008-2018 employment projections
.
"Projected growth" represents the estimated change in total employment over the projections period (2008-2018). "Projected job openings" represent openings due to growth and replacement.