Companies exporting goods and investing in overseas markets need specialized financial analyses and guidance, such as how to reduce the risks inherent in these operations in order to maintain profits and growth. That is where senior risk analysts are coming in. These financial experts use their analytical capabilities, as well as their experience of international industry and currency markets, to help clients reduce losses.
Senior risk analysts review the investment portfolios of the company, including foreign acquisitions, and assess the risks inherent in the related decisions. They use their analytical capabilities to forecast future risks and make decisions to reduce risk by diversification, currency exchanges, and other investing techniques.
Becoming a senior risk analyst uses the right mix of education and expertise. The credentials expected by employers can vary, but those jobs will usually require at least a university degree. Risk analysts would usually need good experience in finance education, knowledge of investment risk structures and fund management, and core business skills, such as teamwork and organization. In addition, employers seek applicants with good theoretical and quantitative capabilities.
There is more than meets the eye when it comes to being a senior risk analyst. For example, did you know that they make an average of $44.25 an hour? That's $92,037 a year!
Between 2018 and 2028, the career is expected to grow 14% and produce 118,300 job opportunities across the U.S.
There are certain skills that many senior risk 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, interpersonal skills and problem-solving skills.
When it comes to the most important skills required to be a senior risk analyst, we found that a lot of resumes listed 18.6% of senior risk analysts included risk management, while 6.1% of resumes included data analysis, and 5.2% of resumes included regulatory agencies. 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 senior risk analyst job title. But what industry to start with? Most senior risk analysts actually find jobs in the finance and insurance industries.
If you're interested in becoming a senior risk analyst, one of the first things to consider is how much education you need. We've determined that 43.1% of senior risk analysts have a bachelor's degree. In terms of higher education levels, we found that 40.7% of senior risk analysts have master's degrees. Even though most senior risk 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 senior risk analyst. When we researched the most common majors for a senior risk analyst, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on senior risk analyst resumes include associate degree degrees or doctoral degree degrees.
You may find that experience in other jobs will help you become a senior risk analyst. In fact, many senior risk analyst jobs require experience in a role such as risk analyst. Meanwhile, many senior risk analysts also have previous career experience in roles such as analyst or finance analyst.