What does a risk management consultant do?
A Risk Management Consultant is responsible for identifying potential risks that may affect the company's performance and strategize techniques to mitigate risks. Risk management consultants evaluate the operational processes and ensure adherence to business requirements and regulations. They also identify opportunities that would increase the company's brand image to the market and generate more revenue resources to improve profitability. A Risk Management Consultant facilitates training programs and activities for the employees and implements policies to prevent operational delays and process failures.
Risk management consultant responsibilities
Here are examples of responsibilities from real risk management consultant resumes:
- Lead clients in establishing information security policies and procedures to establish SOX compliance.
- Analyze and manage implementation of operational and organizational structures and technology architectures in addition to ERP package selection.
- Manage a team responsible for designing service-orient application architecture, standards and best practices guidelines, security and data access frameworks.
- Conduct data-mining training sessions using SAS for managers and support personnel at major financial institutions.
- Correct audit deficiencies to be GAAP compliant.
- Develop accurate and reliable financial reports that comply with GAAP.
- Lead the redesign of a full cycle and compliant 3rd party ERM process mapping.
- Complete weekly recon report as well as ongoing contributions to the team SharePoint site.
- Work with outside CPA to reinstate corporate status and file past due tax returns.
- Design and create all dialer file requirements and SQL code for new Florida collection site.
- Provide feedback and support to enhance and implement the ERM program, overall risk vision and approach.
- Review monthly reconciliations and monthly closing journal entries.
- Produce and maintain detailed presentation decks using Microsoft PowerPoint.
- Perform proactive, predictive audits for manufacturing establishments anticipating OSHA inspections.
- Pioneer cloud base virtualization of services allowing clients to reduce overhead and streamline operations.
Risk management consultant skills and personality traits
We calculated that 9% of Risk Management Consultants are proficient in Project Management, Infrastructure, and Risk Assessments. They’re also known for soft skills such as Interpersonal skills, Time-management skills, and Problem-solving skills.
We break down the percentage of Risk Management Consultants that have these skills listed on their resume here:
- Project Management, 9%
Risk and Project Management Consultant Hired as Technology Process Analyst; promoted through a series of increasingly responsible management positions.
- Infrastructure, 8%
Provided threat assessment, analysis and risk mitigation for infrastructure and applications.
- Risk Assessments, 6%
Conducted penetration tests and performed risk assessments to locate weaknesses in business processes and critical applications.
- NIST, 5%
Provide Information Security management (ISO 27001, NIST, HIPAA) and QSA services to a broad range of industries.
- Internal Controls, 5%
Reviewed Bank Foundation operation; recommended enhanced internal controls to distinctly separate the Board of Directors from charitable foundation operations.
- Healthcare, 5%
Assessed and recommended improvements to the operations of various financial, healthcare, and manufacturing institutions.
Common skills that a risk management consultant uses to do their job include "project management," "infrastructure," and "risk assessments." You can find details on the most important risk management consultant responsibilities below.
Interpersonal skills. The most essential soft skill for a risk management consultant to carry out their responsibilities is interpersonal skills. This skill is important for the role because "management analysts work with managers and other employees of the organizations for which they provide consulting services." Additionally, a risk management consultant resume shows how their duties depend on interpersonal skills: "provided customer service and interpersonal skills. "
Time-management skills. Another essential skill to perform risk management consultant duties is time-management skills. Risk management consultants responsibilities require that "management analysts often work under tight deadlines and must use their time efficiently to complete projects on schedule." Risk management consultants also use time-management skills in their role according to a real resume snippet: "co-authored policy and risk control procedures addressing occ mra's to meet internal audit deadlines. "
Problem-solving skills. Another skill that relates to the job responsibilities of risk management consultants is problem-solving skills. This skill is critical to many everyday risk management consultant duties, as "management analysts must be able to think creatively to solve clients’ problems." This example from a resume shows how this skill is used: "recommended a cloud based saas solution that mitigated akorn s pci compliance exposure. "
Analytical skills. risk management consultant responsibilities often require "analytical skills." The duties that rely on this skill are shown by the fact that "management analysts must be able to interpret information and use their findings to make proposals." This resume example shows what risk management consultants do with analytical skills on a typical day: "review existing procedures and completing a high-level gap analysis relative to occ 2013-29. "
Communication skills. A commonly-found skill in risk management consultant job descriptions, "communication skills" is essential to what risk management consultants do. Risk management consultant responsibilities rely on this skill because "management analysts must be able to convey information clearly in both writing and speaking." You can also see how risk management consultant duties rely on communication skills in this resume example: "directed $200 million owner controlled insurance program for leading telecommunications provider. "
The three companies that hire the most risk management consultants are:
- Deloitte655 risk management consultants jobs
- Guidehouse110 risk management consultants jobs
- U.S. Bank53 risk management consultants jobs
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Compare different risk management consultants
Risk management consultant vs. Senior business consultant
A senior business consultant specializes in performing research and analysis to optimize business processes. Their responsibilities revolve around coordinating with different departments to gather necessary data, devising strategies to reduce cost, assess risks, and identify the strength and weaknesses of operations to recommend solutions. They may also train and mentor junior consultants, produce progress reports and presentations, and assist clients through calls and correspondence. Furthermore, as a consultant, it is essential to adhere to the company's policies and regulations, including its vision and mission.
There are some key differences in the responsibilities of each position. For example, risk management consultant responsibilities require skills like "infrastructure," "risk assessments," "nist," and "internal controls." Meanwhile a typical senior business consultant has skills in areas such as "sr," "analytics," "business analysis," and "medicaid." This difference in skills reveals the differences in what each career does.
Senior business consultants tend to make the most money working in the professional industry, where they earn an average salary of $111,128. In contrast, risk management consultants make the biggest average salary, $89,797, in the insurance industry.On average, senior business consultants reach similar levels of education than risk management consultants. Senior business consultants are 1.1% more likely to earn a Master's Degree and 3.0% less likely to graduate with a Doctoral Degree.Risk management consultant vs. Consultant
Consultants are individuals who were tapped by a company or an organization to work on a specific activity, depending on their field of expertise. They act as guides for the organization in undertaking projects that are related to their field. Consultants would usually assist organizations in planning, often giving advice when the need arises. They would, at times, take the lead in activities that involve data gathering and interpretation of data gathering results so that they can provide solid recommendations on actions that the organization may undertake. They may also guide the organization in implementing any changes brought about by their consultancy and in evaluating the effectiveness of the changes.
In addition to the difference in salary, there are some other key differences worth noting. For example, risk management consultant responsibilities are more likely to require skills like "infrastructure," "risk assessments," "nist," and "internal controls." Meanwhile, a consultant has duties that require skills in areas such as "customer service," "c++," "c #," and "java." These differences highlight just how different the day-to-day in each role looks.
Consultants earn a lower average salary than risk management consultants. But consultants earn the highest pay in the technology industry, with an average salary of $85,405. Additionally, risk management consultants earn the highest salaries in the insurance with average pay of $89,797 annually.consultants earn similar levels of education than risk management consultants in general. They're 3.1% less likely to graduate with a Master's Degree and 3.0% less likely to earn a Doctoral Degree.What technology do you think will become more important and prevalent for risk management consultants in the next 3-5 years?
Benjamin Clark Ph.D.
Associate Professor, University of Oregon
Risk management consultant vs. Executive consultant
An executive consultant gives support and guidance to the company's management team. Their duties may vary depending on each client's needs. Other companies hire consultants to solve a particular problem or assist with operations, employees, or strategic planning. They advise partner companies in business development opportunities to pursue financial goals and financial growth. They can also provide consulting services for non-profit organizations to act as an executive member.
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 management consultant resumes include skills like "infrastructure," "risk assessments," "nist," and "internal controls," whereas an executive consultant is more likely to list skills in "business development," "financial services," "c-suite," and "client relationships. "
Executive consultants earn the best pay in the technology industry, where they command an average salary of $139,883. Risk management consultants earn the highest pay from the insurance industry, with an average salary of $89,797.executive consultants typically earn similar educational levels compared to risk management consultants. Specifically, they're 0.8% less likely to graduate with a Master's Degree, and 1.7% less likely to earn a Doctoral Degree.Risk management consultant vs. Solutions consultant
A solutions consultant is an individual who has an in-depth knowledge of technology that can help a company to overcome issues, increase sales, and have a better connection with their customers. Solutions consultants are responsible for heading the installment of customized software solutions and train dealers and customer sales engineers to administer the customized solution. They represent the company by attending tradeshows and events to demonstrate their company's technology. Solutions consultants must also ensure to demonstrate technical feasibility through beta tests plus trial programs.
Types of risk management consultant
Updated January 8, 2025
