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At the heart of a company's strategy, the risk manager uses his or her expertise to assess, anticipate and manage all risks. This position is increasingly sought after in the banking, insurance and industrial sectors. Between finance, management and consulting, discover with ��ɫ��Ƶ Business School all the aspects of the risk manager's job.

What is risk management?

Risk management is the management of risks or the management of risks within an organisation. Risk management aims to identify the potential vulnerabilities of a company, the factors that can influence its activity, and to classify them according to the seriousness of their consequences. The risks can be of all kinds: financial, legal, IT or industrial. During a diagnostic of the organisation, a risk management plan will be defined to guarantee business continuity. Originating from the corporate finance professions, risk management aims to support a company in its risk management and decision-making.

Why is risk management a key issue in companies?

Faced with the diversification of risks (traditional risks or risks linked to digital technology, regulations, etc.), the implementation of a risk management policy is an integral part of the company's activity, and even of its culture. Risk management, which is based on quantitative finance and risk management, is today one of the key elements in corporate strategy in order to be able to react to an evolving and changing environment.  

In addition to enabling a company to anticipate, protect itself against or limit the impact of risks, risk management allows opportunities to be identified. Good risk management within an organisation improves its performance and makes it more competitive in the market.

What are the tasks of the risk manager?

Depending on the company's strategy, the risk manager studies the potential risks and proposes preventive solutions to avoid them and ensure the continuity of activities. To do this, this expert carries out a risk map to assess the degree of impact of random events in terms of potential damage to the company's financial situation, results or potential opportunities.

To ensure the financial and legal security of an organisation, this professional must be constantly on the lookout for what is happening within the company, but also for all external elements (the financial market, regulations, etc.).

The risk manager also plays an advisory and support role for the operational management of a company. He or she will draw up a strategic risk plan defined following an audit of the structure, and ensure its implementation. To ensure that risk prevention is effectively assimilated, the risk manager must also disseminate the risk culture to operational staff to ensure its success.

What are the skills of a risk manager?

The risk manager's job requires strong professional and technical skills in the fields of law and finance. In order to carry out financial and economic analyses, he or she must master statistical and mathematical models, financial risks and internal control. This professional also has a good knowledge of tax regulations and accounting management in order to effectively manage professional risks.

At the heart of the company's strategy, the risk manager has managerial skills and must demonstrate a certain ease in dealing with managers and employees. In addition to technical skills, the risk manager's job requires certain professional skills to be adopted, such as a keen sense of synthesis and analysis. As a player in the process of change within a company, this expert must be rigorous, organised and methodical. A good command of English is a plus in France when the risk manager's job has an international dimension.

What is the salary of a risk manager?

Risk manager salaries are generally attractive, although they will depend on the sector, the size of the company and experience. A junior risk manager can earn between €2 800 and €4 000 gross per month on leaving school. With experience, they can expect an average salary of €5 000. Over the course of their career, a senior profile, who may move on to become a director, will be paid up to 7,000 euros per month.

What studies should I follow to become a risk manager?

To become a risk manager, you need to have a five-year degree from an engineering school, business school or university. This job requires a “solid education”, particularly in finance, auditing, management, law, accounting and statistics.

��ɫ��Ƶ offers a variety of training courses that can be taken after a Bachelor's degree. The master's degree in market finance allows students to specialise in financial strategy and financial risk assessment. The master's degree in corporate finance trains future finance professionals in financial diagnosis and financial consulting. It is also possible to follow a complete training course with the MBA with a specialisation in finance and investment.

Are you attracted to the fields of finance and insurance? These sectors, where the stakes are becoming increasingly high, are growing and offer many job opportunities. To become a risk manager or financial analyst, ��ɫ��Ƶ provides all the necessary skills for future graduates.