What does a Risk-Manager do?

As a risk manager, you are in charge of determining financial, safety and security risks for a company or organization, and you find ways to reduce those risks through planning and problem-solving. Risk managers are in charge of research activities such as risk assessment for current company affairs or risk evaluation, which evaluates the company's handling of risks in the past. Risk managers must be able to present their findings to their clients in a way that's easy for the company administration to understand and implement. Many risk managers begin their careers as risk assistants or risk analysts and move into manager roles once they have enough experience.

Most risk managers hold bachelor's degrees in business, management or another related field. Graduate degrees look even more impressive on your resum' to potential employers. In-depth knowledge of the company and industry is very important for risk managers, who need to accurately assess risks that may become a reality without intervention by organization management. Risk managers should be able to think outside the box to envision risks that might be otherwise unnoticeable to others.

What responsibilities are common for Risk-Manager jobs?
  • Identify financial, safety or security risks that the client company or organization may face
  • Prepare action plans to decrease risk factors
  • Gather confidential financial information from client such as income, assets and debts
  • Manage company insurance policies
  • Perform risk evaluation, which assesses the way the company previously handled risks
  • Make risk-avoiding adjustments to current methods of operation in order to minimize their future risks
  • Prepare a risk-management budget
  • Provide training and certification for organization staff so that they can be aware of risks and try to avoid them
What are the typical qualifications for Risk-Manager jobs?
  • Professional Risk Manager (PRM) certification may be beneficial
  • Thorough understanding of the business or organization's goals and values
  • Computer, data entry and MS Office skills
  • Excellent communication skills, both written and spoken
  • Ability to handle private, sensitive, confidential information appropriately
  • You pay strong attention to detail and organization
  • Strong working knowledge of risk management and previous experience working with risk (i.e. risk assistant or risk analyst)
  • Solid research skills using the internet and first-person interviews
  • Experience working with insurance policies
EducationBachelor's Degree
Work/Life Balance
3.7 ★
Salary Range--
Career Opportunity
3.7 ★
Avg. Experience5-7 years

Risk-Manager Salaries near Canada

Average Base Pay

$108,073 /yr
Not including cash compensation
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Not enough salaries reported to show distribution
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Glassdoor Estimated Salary

Risk-Manager Career Path

Learn how to become a Risk-Manager, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

Risk Manager
Senior Risk Manager
Risk Manager IV

Years of Experience Distribution

0 - 1
2 - 4
5 - 7
Not including years spent in education and/or training

Risk-Manager Insights

Read what Risk-Manager professionals have to say about their job experiences and view top companies for this career.
China Securities InternationalChina Securities International
Risk Intern
Oct 4, 2023

“Everyone is very nice there and I can feel free to ask questions to my mentor/manager.”

Goldman SachsGoldman Sachs
Risk Intern
Aug 15, 2021

“Good collaborative spirit and balance of financial and technical projects (which was what I was interested in).”

The ALS GroupThe ALS Group
Risk Management
Jul 12, 2021

“I got to meet great people and learn from people who have been in the industry for many years.”

HUB InternationalHUB International
Risk Manager
Apr 28, 2023

“Starting out pay isn't great but if I've stuck with it and gotten better and now I have a great salary.”

State FarmState Farm
Risk Manager
Jun 23, 2021

“The Agent I work for is a great guy who tries his best to help us function in our roles.”

Vertex PharmaceuticalsVertex Pharmaceuticals
Risk Management
Oct 20, 2022

“Everyone was willing to work with me as an intern and I felt the work I was doing had an impact.”

Risk Specialist
Feb 21, 2022

“All good and excellent working”

Incident and Problem Manager
Sept 29, 2022

“Innovative and great career path”

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Risk-Manager Interviews

Frequently asked questions about the role and responsibilities of risk managers

The typical day of a risk manager involves assessing the potential risks that a company might face including market risk, operational risk, reputational risk, and credit risk. This includes evaluating the likelihood and consequences of the threat. The risk manager also recommends actions that will help control and reduce these potential risks.

Risk management is a good career for highly analytical individuals who enjoy the corporate detective work of assessing complex situations and identifying potential pitfalls. Risk management job satisfaction can be high for detail-oriented individuals looking to fully utilize their skills as they meticulously identify and evaluate weaknesses.

The average salary for risk managers in Canada is $108,073. Pay increases with experience and seniority. You may begin with a lower salary as an underwriter or insurance account manager. Senior risk managers for major corporations and C-Suite risk managers employed as Chief Risk Officer (CRO) enjoy some of the highest salaries for this occupation.

Working as a risk manager can be difficult, as it requires a great deal of attention to detail. There are many challenges of being a risk manager for those who are unfamiliar with the industry they're assessing. However, with experience and research, the job typically becomes easier and more lucrative.

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Risk-Manager jobs