What Does a Risk Manager Do?
A risk manager is responsible for identifying and analyzing potential risks that could negatively impact an organization. These risks may involve financial loss, compliance violations, safety hazards, cybersecurity threats, or reputational damage. Risk managers design strategies and policies that reduce exposure, safeguard assets, and protect long-term business stability.
Working closely with executives, auditors, and compliance teams, risk managers evaluate existing controls, recommend improvements, and monitor the effectiveness of mitigation efforts. Their expertise ensures organizations can adapt to regulatory changes, respond effectively to crises, and make informed strategic decisions.
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Risk Manager Core Responsibilities
- Conduct risk assessments and identify vulnerabilities across business operations
- Develop, implement, and monitor risk management policies and procedures
- Evaluate insurance coverage and coordinate with providers to manage risk exposure
- Monitor compliance with regulatory standards and industry guidelines
- Prepare detailed risk reports and present findings to senior leadership
- Support business continuity and crisis response planning
- Collaborate with cross-functional teams to strengthen risk awareness
- Analyze data trends and provide recommendations for mitigation strategies
Required Skills and Qualifications
Hard skills
- Proficiency in risk analysis, assessment, and mitigation techniques
- Knowledge of regulatory frameworks and compliance standards
- Ability to develop and implement risk management policies
- Familiarity with financial modeling, data analysis, or risk reporting tools
- Strong research and documentation skills
Soft skills
- Strategic thinking and problem-solving abilities
- Excellent written and verbal communication skills
- Ability to work collaboratively with executives and staff
- Attention to detail and accuracy in reporting
- Strong organizational and time management skills
Education
- Bachelor’s degree in risk management, finance, business administration, or related field required
- Master’s degree preferred for senior roles
Certifications
- RIMS-CRMP (Certified Risk Management Professional) or CRM (Certified Risk Manager) recommended
- FRM (Financial Risk Manager) or CERA (Chartered Enterprise Risk Analyst) valued in specific industries
Preferred Qualifications
- 5+ years of experience in risk management, compliance, or internal audit
- Industry-specific knowledge such as healthcare, financial services, or cybersecurity risk
- Experience with enterprise risk management (ERM) frameworks
- Advanced data analysis or risk modeling expertise
- Proven ability to present findings to executive leadership
National Average Salary
Risk manager salaries vary by experience, industry, organization size, and geography. Click below to explore salaries by local market.
The average national salary for a Risk Manager is:
$117,746
Sample Job Description Templates for Risk Managers
Assistant Risk Manager
Position Overview
We are seeking an assistant risk manager to support the risk management team in identifying, assessing, and mitigating risks across the organization. This role is ideal for someone who has foundational experience with risk frameworks and wants to deepen their analytical and operational risk skills under senior guidance.
Responsibilities
- Assist in conducting risk assessments and documenting potential business, operational, financial, and compliance risks
- Support maintenance of risk registers and dashboards
- Help gather data for risk reports for leadership and stakeholders
- Monitor changing regulatory requirements and assist in ensuring compliance
- Collaborate with multiple departments (e.g., compliance, operations, finance) to collect risk data
- Aid in development of mitigation plans and track progress of risk action items
Requirements
Hard skills
- Basic understanding of risk assessment methodologies (qualitative & quantitative)
- Familiarity with regulatory compliance standards relevant to the industry
- Experience with data gathering and analysis tools (Excel, risk software)
- Ability to assist in preparing risk reports and documentation
Soft skills
- Strong attention to detail
- Good communication skills (written and verbal)
- Team-oriented and eager to learn
- Ability to manage deadlines and multiple tasks
Education
- Bachelor’s degree in risk management, finance, business administration, or related field
Certifications
- Not required; RIMS-CRMP or similar risk management certification encouraged
Preferred Qualifications
- 1–2 years working in risk, compliance, audit, or similar function
- Exposure to Enterprise Risk Management (ERM) frameworks
- Some experience with regulatory or standards-based environments
Mid-Level Risk Manager
Position Overview
Our company is looking for a mid-level risk manager to take greater ownership of risk identification, measurement, and mitigation in key business areas. This person will lead risk initiatives independently and work closely with senior managers to provide actionable risk intelligence.
Responsibilities
- Lead risk assessments for specific operational or financial areas
- Analyze data, quantify risk exposures, and help develop mitigation strategies
- Maintain and update risk registers; escalate high-priority risks to senior leadership
- Monitor internal controls and suggest improvements
- Assist in compliance audits and assist in remediation efforts
- Produce periodical reports on risk status and trends
Requirements
Hard skills
- Solid experience with risk assessment tools and quantitative risk modeling
- Knowledge of industry regulations and risk standards (such as ISO 31000 or equivalent)
- Experience creating risk mitigation plans and implementing them
- Proficiency in data analysis, reporting, and risk dashboards
Soft skills
- Strong problem-solving and strategic thinking
- Effective stakeholder communication and influence
- Ability to work independently with minimal supervision
- Organizational skills and ability to manage various risk projects
Education
- Bachelor’s degree required; Master’s degree preferred in risk management, finance, or related discipline
Certifications
- RIMS-CRMP or equivalent risk management certification preferred
- Other relevant certifications (e.g. FRM, PRM, or industry-specific) valued
Preferred Qualifications
- 3-5 years of risk management or compliance experience
- Demonstrated experience in developing or improving risk policies
- Experience in reporting risk info to senior management
Senior Risk Manager
Position Overview
We are hiring a senior risk manager to lead enterprise-level risk management programs, mentor junior risk staff, and influence strategic risk policy. This role demands a high degree of technical capability, leadership, and industry insight.
Responsibilities
- Oversee risk management across multiple domains (financial, operational, regulatory, strategic)
- Ensure the company’s risk profile is aligned with risk appetite and tolerance levels
- Lead cross-functional teams in risk identification, prioritization, and mitigation
- Guide internal audits, compliance reviews, and scenario planning
- Develop risk policies and frameworks; ensure consistent application across the organization
- Report risk results, trends, and recommendations to senior leadership and boards
Requirements
Hard skills
- Advanced knowledge of risk frameworks (ERM, ISO 31000, compliance frameworks)
- Strong ability in quantitative risk modeling, scenario analysis, and metrics
- Experience in auditing, regulatory compliance, and/or financial risk exposure measurement
- Proficiency in building risk dashboards and risk reporting systems
Soft skills
- Leadership and mentoring of risk teams
- Excellent strategic thinking and decision-making under uncertainty
- Clear communication with executives, board, and cross-functional teams
- Ability to influence change and lead risk culture improvements
Education
- Master’s degree preferred; bachelor’s degree required
Certifications
- RIMS-CRMP or a senior-level risk management certification required
- Complementary certifications (e.g., FRM, PRM, compliance exams) beneficial
Preferred Qualifications
- 6-8+ years of risk management or related experience
- Experience in industries with heavy regulation or high risk (e.g. finance, insurance, manufacturing)
- History of successful risk reduction or mitigation programs
Lead Risk Manager
Position Overview
We are seeking a lead risk manager to direct risk operations, develop best practices, and act as a trusted advisor to senior leadership and business units. This role requires a strategic mindset, deep expertise, and the ability to coordinate across multiple risk domains and stakeholders.
Responsibilities
- Lead risk strategy development and ensure implementation across the enterprise
- Oversee risk management teams and coordinate cross-departmental risk initiatives
- Set up, refine, or evolve risk governance structures and processes
- Manage risk reporting to senior leadership, the board, or audit committees
- Lead crisis response planning, business continuity, and scenario stress testing
- Ensure enterprise wide compliance with evolving regulatory and standard requirements
Requirements
Hard skills
- In-depth expertise in ERM, risk quantification, and risk policy formation
- Track record with governance, compliance, audits, and operational risk controls
- Experience developing or leading business continuity and crisis management plans
- Advanced reporting and risk communication skills
Soft skills
- Strong leadership with the ability to influence at executive level
- Excellent negotiation and conflict resolution capabilities
- High degree of resilience, adaptability in dynamic risk environments
- Visionary mindset with ability to balance risk and opportunity
Education
- Master’s degree strongly preferred; bachelor’s degree required
Certifications
- RIMS-CRMP or equivalent senior risk management certification required
- Additional credentials in compliance, continuity, cybersecurity or financial risk are a plus
Preferred Qualifications
- 8-10+ years of experience managing risk functions
- Proven ability to lead risk culture change in organizations
- Experience collaborating with boards of directors or audit committees
Director of Risk Management
Position Overview
We are hiring a director of risk management to lead the entire risk function, shape organizational risk strategy, and ensure risk management supports the company’s long-term goals. This is an executive role that requires broad exposure to all types of risk, regulatory depth, and strong leadership presence.
Responsibilities
- Define and implement enterprise risk strategy, risk appetite, and tolerance levels
- Lead and oversee all risk management teams, including operational, financial, regulatory, and compliance risk
- Liaise with C-suite executives and board members to report on major risk issues and strategic risk insights
- Oversee compliance, internal audit coordination, business continuity planning, and crisis management
- Direct budgeting, vendor, and resource allocation for risk mitigation programs
- Ensure risk policies and frameworks are aligned with external standards and regulatory requirements
Requirements
Hard skills
- Expert level competence in ERM, regulatory compliance, crisis response, and financial risk analysis
- Strong experience with risk governance, policy creation, audit, and regulatory reporting
- Familiarity with emerging risks (cybersecurity, environmental, reputational, supply chain)
Soft skills
- Executive leadership, credibility, and strategic communication skills
- Ability to shape culture, influence senior leadership and the board
- Excellent judgment under ambiguity, with a view toward long-term sustainability
Education
- Master’s degree in risk management, business administration, finance, or related field preferred; bachelor’s required
Certifications
- RIMS-CRMP or other high-level risk management certification required
- Advanced credentials (e.g. FRM, PRM, CERA, or relevant industry compliance/cybersecurity certifications) valued
Preferred Qualifications
- 10+ years of progressive responsibility in risk management functions
- Demonstrated experience leading enterprise risk management in large, complex organizations
- Successful track record of establishing risk governance frameworks