What does a risk analyst do?
As a risk analyst, you will oversee the identification, assessment, and monitoring of risks that your company has been exposed to. You will evaluate financial documents, potential clients, and economic conditions to determine the level of risk in business decisions. You will be responsible for aggregating data from several sources to develop a comprehensive assessment and create reports, processes, and presentations to better present results. You are also expected to work closely with other team members to analyze and show data effectively.
Risk analyst responsibilities
Here are examples of responsibilities from real risk analyst resumes:
- Create programs in Java to automate trade execution and ensure market clear downloads are facilitate by the same.
- Manage financial derivative models to ensure accurate calculation, structure and pricing.
- Manage investigation and reporting of occurrences to applicable regulatory agencies when indicate and facilitate disclosure to patients and families.
- Manage litigation through appropriate selection of counsel, developing strategic action plans a while monitoring an active trial calendar.
- Manage treasury workstation steering team for automation of core treasury operations for increase reliability of financial reporting and decision making.
- Use SAS and SQL to originate and maintain analytic data marts and automate reporting.
- Provide SME for risk evaluations and assessments
- Implement stress testing with the firm's proprietary risk systems and Bloomberg.
- Create python modules to programmatically generate audience weekly reports from Lotame API.
- Assist companies in implementing customize safety policies and procedures to insure OSHA compliance.
- Design and develop QuantLAB, a quantitative finance library written in MATLAB OOP framework.
- Design and perform stress-tests for investment bank client's pricing models for CCAR purposes.
- Develop health care industry ERM framework through collaboration with other ERM leaders across the nation.
- Create trading tools in Excel/VBA and MATLAB to model various standard options and structure products.
- Review and update policies and procedures in support of the issue tracking and the RCSA processes.
Risk analyst skills and personality traits
We calculated that 19% of Risk Analysts are proficient in Risk Management, Risk Assessments, and PowerPoint. They’re also known for soft skills such as Computer skills, Time-management skills, and Interpersonal skills.
We break down the percentage of Risk Analysts that have these skills listed on their resume here:
- Risk Management, 19%
Corresponded with property management to monitor risk management issues and determine solutions; Reviewed initial incident reports and researched all information.
- Risk Assessments, 6%
Resolved discrepancies on the risk assessments by facilitating negotiations between Third Party Vendors and Internal Risk Evaluation Specialists.
- PowerPoint, 6%
Prepared PowerPoint presentations with results obtained from prior analysis, and delivered results to colleagues.
- Portfolio, 5%
Managed economic indicator data and conducted detailed risk analysis on portfolio allocation strategies using over 5,000 iterations for regulatory purpose.
- Data Analysis, 4%
Created several Power-Point presentations and VBA macros in Excel for expedited analysis of gathered data for faster data analysis.
- SAS, 3%
Converted name selection optimization infrastructure from Excel to SAS allowing automated scenario generation and unlimited segmentation possibilities for prospect selection.
"risk management," "risk assessments," and "powerpoint" are among the most common skills that risk analysts use at work. You can find even more risk analyst responsibilities below, including:
Computer skills. One of the key soft skills for a risk analyst to have is computer skills. You can see how this relates to what risk analysts do because "financial analysts must be adept at using software to analyze financial data and trends, create portfolios, and make forecasts." Additionally, a risk analyst resume shows how risk analysts use computer skills: "generate financial ratios using computer programs as sas, to evaluate customers' financial status. "
Math skills. A commonly-found skill in risk analyst job descriptions, "math skills" is essential to what risk analysts do. Risk analyst responsibilities rely on this skill because "financial analysts use mathematics to estimate the value of financial securities." You can also see how risk analyst duties rely on math skills in this resume example: "designed and maintained quantitative financial models with excel vba to forecast market changes impact on business. "
Analytical skills. While "analytical skills" is last on this skills list, don't underestimate its importance to risk analyst responsibilities. Much of what a risk analyst does relies on this skill, seeing as "financial analysts must evaluate a range of information in finding profitable investments." Here is a resume example of how this skill is used in the everyday duties of risk analysts: "co-developed an in-house custom performance attribution system using sql and a data visualization tool. "
The three companies that hire the most risk analysts are:
- U.S. Bank165 risk analysts jobs
- USAA72 risk analysts jobs
- Regions Bank50 risk analysts jobs
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Compare different risk analysts
Risk analyst vs. Analyst internship
An analyst internship is a student program where an intern is assigned to assist analyst professionals by analyzing business goals, objectives, and needs. Analyst interns assist in the planning and designing of business processes and suggest recommendations for improvement. They conduct research and analysis to support business operations and resolve issues using systems and data. They also help estimate the costs and benefits of multiple business actions and help the business organization launch new initiatives.
There are some key differences in the responsibilities of each position. For example, risk analyst responsibilities require skills like "risk management," "risk assessments," "powerpoint," and "portfolio." Meanwhile a typical analyst internship has skills in areas such as "python," "data entry," "c++," and "analyze data." This difference in skills reveals the differences in what each career does.
Analyst interns tend to make the most money working in the professional industry, where they earn an average salary of $41,723. In contrast, risk analysts make the biggest average salary, $77,608, in the manufacturing industry.On average, analyst interns reach similar levels of education than risk analysts. Analyst interns are 0.6% more likely to earn a Master's Degree and 0.5% less likely to graduate with a Doctoral Degree.Risk analyst vs. Corporate finance analyst
Corporate finance analysts make significant business decisions based on the data they gather. Typically, corporate finance analysts work within an organization and support management decisions through actionable financial information. They monitor the taxes, expenses, financial statements, and other financial details of where the company sources its income. This position requires a formal qualification in accounting. It also necessitates the analyst to develop interpersonal skills, knowledge in information technology software, financial reporting skills, and experience in management.
Each career also uses different skills, according to real risk analyst resumes. While risk analyst responsibilities can utilize skills like "risk management," "risk assessments," "powerpoint," and "portfolio," corporate finance analysts use skills like "hyperion," "balance sheet," "reconciliations," and "financial performance."
On average, corporate finance analysts earn a lower salary than risk analysts. Some industries support higher salaries in each profession. Interestingly enough, corporate finance analysts earn the most pay in the finance industry with an average salary of $96,991. Whereas risk analysts have higher pay in the manufacturing industry, with an average salary of $77,608.Average education levels between the two professions vary. Corporate finance analysts tend to reach similar levels of education than risk analysts. In fact, they're 0.8% more likely to graduate with a Master's Degree and 0.5% less likely to earn a Doctoral Degree.What technology do you think will become more important and prevalent for risk analysts in the next 3-5 years?
Dr. Todd Steen
The Granger Professor of Economics, Hope College
Risk analyst vs. Business & finance analyst
A financial business analyst is also referred to as a business analyst who recommends and enforces corporate efficiency and profitability methods. Financial business analysts analyze the business model and finances of an organization. Their findings serve as the source of their suggestions to improve businesses' budgeting, management, and overall operations. They have the ability to predict the outcome of the decisions made by enterprises. The skills necessary for this job include interpersonal skills, management experience, financial reporting, and strong communication skills.
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from risk analyst resumes include skills like "risk management," "risk assessments," "powerpoint," and "portfolio," whereas a business & finance analyst is more likely to list skills in "business analysis," "shared services," "business process," and "erp. "
Business & finance analysts make a very good living in the finance industry with an average annual salary of $82,379. On the other hand, risk analysts are paid the highest salary in the manufacturing industry, with average annual pay of $77,608.business & finance analysts typically earn higher educational levels compared to risk analysts. Specifically, they're 5.3% more likely to graduate with a Master's Degree, and 1.2% more likely to earn a Doctoral Degree.Risk analyst vs. Senior finance analyst
A Senior Financial Analyst's role is to oversee the financial aspects and manage fellow analysts in a company. Among the tasks of a Senior Financial Analyst include conducting research and analysis, providing forecast in revenue and expenditures, creating financial models that would suit the company and project more sales, and take part in the planning of finances. Moreover, being a Senior Financial Analyst means leading a team of skilled professionals in the same field of expertise.
Types of risk analyst
Updated January 8, 2025
