Do you think you are good at identifying financial problems or risks that may affect a person or company? What is Risk Analysis all about?
Risk Analyst
So, what do they do?
Risk analysts keep track of developments in the economy in order to identify any potential problems or implications for their clients. They do this by analysing investments and business plans, researching market conditions and identifying trends.
They typically specialise in one of either Credit, Market, Regulatory or Operational categories. The Risk Analyst recommends strategies to avoid or minimise the risk. Some clients may require daily monitoring of risks to their assets, credit and business status, while others may be more focussed on long term analysis of potential future risks.
OK, so how do I become a Risk Analyst?
Typically, employers are looking for graduates in numerate business-related subjects, such as statistics, business analysis or data analysis. There are a wide variety of business and finance related degrees in most of the HEI’s throughout the country. Just use the filters on the left hand side of the CourseFinder to find and compare them.
There are several Further Education pathways into this industry that are well worth checking out.
The National College of Ireland run a two year Financial Services Analytics apprenticeship, while there are also PLC options in Financial services in Marino College of Further Education, Whitehall College of Further Education and Ballsbridge College of Further Education.
Relevant work experience in finance or a related area is valuable, especially as the job will require a knowledge of how the industry works.
Finally, are there jobs and what’s the pay like?!
According to the latest National Skills Bulletin this has been identified as a Job in Demand and has been experiencing strong employment growth over the past five years. There are approximately 17,100 Risk Analyst jobs in the country with salary rates ranging from €40k - €100k.
If you are interested in finding out more information about what a Risk Analyst is, what they do and how you might become one, just go to our Career Explorer where you will find detailed information on this occupation and over 1,000 other careers.
You might also do some research on the Investment Banking, Data Analysis and Maths career sectors which are also relevant to this occupation.
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