What does a risk manager do?
A risk manager is a professional who partakes in identifying, evaluating and managing the risks that a company could encounter. Being a highly analytical job, the risk manager must gauge potential risks to the company through research and assessment. The job also involves evaluating the existing risk management process and programs and tweaking it to achieve maximum risk control. With strategic development as one of the cornerstones of the job, the role requires curating a risk management system that is custom-made as per the investments and liabilities of the stakeholders or the company.
You might hire a risk manager to:
- Develop contingency plans to ensure maximum risk control
- Conduct investigations and assessments in detail, to determine a solid risk management plan
- Prepare reports and documentation about the risk management processes, and communicate to the stakeholders regarding the same
- Monitor and estimate the effectiveness of existing plans, and make changes to them
- Ensure that the company meets the regulatory risk requirements while implementing the risk management framework
Introduction
At [Company X], we believe in the holistic protection of our assets and liabilities. We thrive on eliminating risks while doing business, and we are seeking a highly-skilled risk manager to help us achieve the same. The risk manager candidate must dedicate their time to developing the most effective risk management framework that works towards optimum risk control. The risk manager candidate must be insightful and should be intimately familiar with the Indian financial markets and their related instruments. With proficiency in risk management processes and principles, along with expert-level knowledge of the banking system, the candidate must be an authority in risk mitigation. Excellent attention to detail and problem-solving skills are inherent abilities that we seek from our ideal potential risk manager.
Objectives of this role
- Stay on top of potential risks, and be adequately aware of the risk exposure of the business, keeping its internal operations in mind
- Identify risks, and evaluate them in terms of their plausibility and repercussions and curate risk mitigation and management policies to reduce the effectiveness of the risk
- Mentor and lead senior management and stakeholders by providing guidance and advice on legal and financial risk management
- Custom-make risk management processes as per the current standing of the company, keeping in mind its future variations
- Learn about and dive into the state of the Indian financial markets and its latest trends and perform competitive analysis on risk management plans
Responsibilities
- Develop risk control and management strategies to reduce the financial and legal impact on the business
- Evaluate the current risk management processes and determine their effectiveness in a future scenario
- Liaise with, and guide senior management and the stakeholders about the current and potential risks through reports, documentation and presentations periodically
- Ensure that the company meets its legal and regulatory risk requirements
- Study market trends, and implement the learnings into the risk management processes of the company
- Prepare risk contingency plans to tackle future risk management issues
Required skills and qualifications
- Bachelor’s degree in economics, finance, business administration or a similar discipline
- Prior experience as a risk manager or in a similar role
- Solid knowledge of risk management principles
- Expert-level knowledge of MS Office, and other risk management tools
- Analytical, problem-solving and communication skills
Preferred skills and qualifications
- Certification as a qualified Risk Management Professional (CRMP)
- Knowledge of the Indian financial markets, banking system and its related instruments
- Prior experience as a risk manager or in a similar role
