Risk Management Specialists

What they do:

Analyze and manage risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.

On the job, you would:

  • Provide statistical modeling advice to other departments.
  • Review or draft risk disclosures for offer documents.
  • Meet with clients to answer queries on subjects such as risk exposure, market scenarios, or values-at-risk calculations.
  • Maintain input or data quality of risk management systems.
  • Develop contingency plans to deal with emergencies.
  • Devise scenario analyses reflecting possible severe market events.
  • Consult financial literature to ensure use of the latest models or statistical techniques.
  • Track, measure, or report on aspects of market risk for traded issues.
  • Analyze new legislation to determine impact on risk exposure.
  • Recommend ways to control or reduce risk.

Knowledge

  • Mathematics
  • Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • English Language
  • Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Economics and Accounting
  • Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • Administration and Management
  • Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
  • Computers and Electronics
  • Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • Law and Government
  • Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
  • Customer and Personal Service
  • Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • Education and Training
  • Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
  • Personnel and Human Resources
  • Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
  • Communications and Media
  • Knowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.

Skills

  • Reading Comprehension
  • Understanding written sentences and paragraphs in work related documents.
  • Active Listening
  • Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Critical Thinking
  • Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Speaking
  • Talking to others to convey information effectively.
  • Systems Analysis
  • Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
  • Systems Evaluation
  • Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.
  • Mathematics
  • Using mathematics to solve problems.
  • Writing
  • Communicating effectively in writing as appropriate for the needs of the audience.
  • Complex Problem Solving
  • Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Judgment and Decision Making
  • Considering the relative costs and benefits of potential actions to choose the most appropriate one.

Abilities

  • Problem Sensitivity
  • The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
  • Deductive Reasoning
  • The ability to apply general rules to specific problems to produce answers that make sense.
  • Inductive Reasoning
  • The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • Oral Expression
  • The ability to communicate information and ideas in speaking so others will understand.
  • Oral Comprehension
  • The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Written Comprehension
  • The ability to read and understand information and ideas presented in writing.
  • Mathematical Reasoning
  • The ability to choose the right mathematical methods or formulas to solve a problem.
  • Written Expression
  • The ability to communicate information and ideas in writing so others will understand.
  • Near Vision
  • The ability to see details at close range (within a few feet of the observer).
  • Speech Recognition
  • The ability to identify and understand the speech of another person.

Work Activities

  • Getting Information
  • Observing, receiving, and otherwise obtaining information from all relevant sources.
  • Analyzing Data or Information
  • Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
  • Communicating with Supervisors, Peers, or Subordinates
  • Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
  • Interacting With Computers
  • Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Making Decisions and Solving Problems
  • Analyzing information and evaluating results to choose the best solution and solve problems.
  • Identifying Objects, Actions, and Events
  • Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
  • Processing Information
  • Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
  • Evaluating Information to Determine Compliance with Standards
  • Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
  • Updating and Using Relevant Knowledge
  • Keeping up-to-date technically and applying new knowledge to your job.
  • Establishing and Maintaining Interpersonal Relationships
  • Developing constructive and cooperative working relationships with others, and maintaining them over time.

Interests

  • Conventional
  • Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
  • First Interest High-Point
  • Primary-Rank Descriptiveness
  • Enterprising
  • Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
  • Second Interest High-Point
  • Secondary-Cutoff/Rank Descriptiveness
  • Investigative
  • Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
  • Realistic
  • Realistic occupations frequently involve work activities that include practical, hands-on problems and solutions. They often deal with plants, animals, and real-world materials like wood, tools, and machinery. Many of the occupations require working outside, and do not involve a lot of paperwork or working closely with others.
  • Third Interest High-Point
  • Tertiary-Cutoff/Rank Descriptiveness
  • Artistic
  • Artistic occupations frequently involve working with forms, designs and patterns. They often require self-expression and the work can be done without following a clear set of rules.
  • Social
  • Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.

Work Styles

  • Attention to Detail
  • Job requires being careful about detail and thorough in completing work tasks.
  • Integrity
  • Job requires being honest and ethical.
  • Analytical Thinking
  • Job requires analyzing information and using logic to address work-related issues and problems.
  • Dependability
  • Job requires being reliable, responsible, and dependable, and fulfilling obligations.
  • Initiative
  • Job requires a willingness to take on responsibilities and challenges.
  • Cooperation
  • Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
  • Achievement/Effort
  • Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
  • Stress Tolerance
  • Job requires accepting criticism and dealing calmly and effectively with high stress situations.
  • Adaptability/Flexibility
  • Job requires being open to change (positive or negative) and to considerable variety in the workplace.
  • Persistence
  • Job requires persistence in the face of obstacles.