Risk analysts assess potential clients' financial statements and economic backgrounds to understand the extent of risk certain financial decisions would bring for the client. They are mostly employed by banks and financial institutions, such as insurance companies.
You will need a degree in a finance-related field to land this position, although experience in the field is not always required. You will be trained on the job and have ample opportunities to grow.
You will need to conduct extensive research to assist companies with their financial decisions, so computer literacy and familiarity with appropriate software are necessary. You might have to travel for work, so if you have the analytical and number-oriented mind this work requires, you will have a varied and interesting career.
There is more than meets the eye when it comes to being a risk assessment analyst. For example, did you know that they make an average of $34.42 an hour? That's $71,599 a year!
Between 2018 and 2028, the career is expected to grow 6% and produce 20,300 job opportunities across the U.S.
There are certain skills that many risk assessment analysts have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed computer skills, math skills and detail oriented.
When it comes to the most important skills required to be a risk assessment analyst, we found that a lot of resumes listed 20.2% of risk assessment analysts included risk assessments, while 11.7% of resumes included information security, and 11.2% of resumes included communication. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the risk assessment analyst job title. But what industry to start with? Most risk assessment analysts actually find jobs in the finance and technology industries.
If you're interested in becoming a risk assessment analyst, one of the first things to consider is how much education you need. We've determined that 57.6% of risk assessment analysts have a bachelor's degree. In terms of higher education levels, we found that 17.4% of risk assessment analysts have master's degrees. Even though most risk assessment analysts have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a risk assessment analyst. When we researched the most common majors for a risk assessment analyst, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on risk assessment analyst resumes include associate degree degrees or license degrees.
You may find that experience in other jobs will help you become a risk assessment analyst. In fact, many risk assessment analyst jobs require experience in a role such as internship. Meanwhile, many risk assessment analysts also have previous career experience in roles such as staff nurse or customer service representative.