Financial Risk Specialists
What is a Financial Risk Specialist?
Financial Risk Specialists are professionals who focus on identifying, analyzing, and managing financial risks within an organization. They play a crucial role in the financial services industry, helping companies mitigate potential losses that could arise from various factors, including market fluctuations, credit risks, and operational challenges. Their work involves developing risk management strategies, conducting assessments to evaluate the potential impact of financial risks, and ensuring compliance with regulatory requirements. Financial Risk Specialists leverage quantitative analysis and modeling techniques to forecast potential risks and advise on best practices for risk mitigation. They often collaborate with other departments such as finance, compliance, and operations to implement risk management policies and enhance overall organizational resilience. By continuously monitoring financial conditions and market trends, they help businesses make informed decisions to safeguard their assets and achieve strategic objectives.
Tasks
- Analyze areas of potential risk to the assets, earning capacity, or success of organizations.
- Analyze new legislation to determine impact on risk exposure.
- Conduct statistical analyses to quantify risk, using statistical analysis software or econometric models.
- Confer with traders to identify and communicate risks associated with specific trading strategies or positions.
- Consult financial literature to ensure use of the latest models or statistical techniques.
Technology Skills
- Analytical or scientific software
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Word processing software
- Google Docs
- Microsoft OneNote
- Microsoft Word 365
- Report generation software
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Financial analysis software
- Delphi Technology
- Oracle Cloud ERP
- Wolfram Research Mathematica Finance Essentials
- Wolfram Research Mathematica UnRisk Pricing Engine
- Enterprise resource planning ERP software
- Data base user interface and query software
Tools Used
- Photocopiers
- Scanners
- Notebook computers
- Special purpose telephones
- Laser fax machine
Detailed Work Activities
- Assess risks to business operations.
- Analyze business or financial data.
- Analyze risks related to investments in green technology.
- Apply mathematical models of financial or business conditions.
- Develop business or financial information systems.
Work Interests
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Conventional
Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources.
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Investigative
Work involves studying and researching non-living objects, living organisms, disease or other forms of impairment, or human behavior. Investigative occupations are often associated with physical, life, medical, or social sciences, and can be found in the fields of humanities, mathematics/statistics, information technology, or health care service.
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Enterprising
Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law.
Job Outlook
Projected salary and job growth
$61090.0 - $184330.0
This career will grow rapidly in the next few years.
Assessment
Related assessments and tests
No assessment available.