Risk Managers are essential members of Banking and Finance companies and play an intrinsic role in ensuring the smooth running and safe-guarding of procedures and decisions. In London, Risk Managers have a whole host of businesses to work for, making the city a great place to pursue a career in this field. Risk Managers will often work with Investment teams, with Junior Investment Analysts and Credit Managers.
As a Risk Manager you will be responsible for assessing and implementing plans for the risks that could affect the organisation or client. This could include employee fraud or system failure, and so the Risk Manager must be prepared to deal with as well as identify the major risks to the business.
In terms of day-to-day tasks, Risk Managers; plan strategies and predict outcomes of risks to the employer, employees, customers and other clients. You will need to assess and analyse risks, and then plan for and report back, on outcomes. Risk Managers must work with other Finance professionals to safe-guard the business, be that by purchasing insurance or teaching staff about risks.
Working in London, Risk Managers can expect to earn around £56,000 per year. However, you need to work up to this role and start as a Risk Technician on a salary of around £21,000 working your way up to the role of Risk Manager. This job has great potential for progression and employees with a lot of development and experience can progress to Director level, potentially earning salaries of around £70,000.
To succeed as a Risk Manager you need to be a brilliant problem-solver, be able to analyse large quantities of data effectively and have great communication skills so you can present and portray your findings to people who may not be as numerically or analytically minded. You also need to be exceptionally organised, commercially focused and a good negotiator.