Quality Assurance/ Risk Manager

Summary of profession

Risk managers advise organizations on any potential risks to the profitability or existence of the company. They identify and assess threats, put plans in place for if things go wrong and decide how to avoid, reduce or transfer risks.

Working hours, patterns and environments

Staff will usually work regular hours in an office setting. Travel within the working day is common, but this depends on the size of the organisation and your level of responsibility. 

Education and skills

To work in risk management, a bachelor’s degree is the bare minimum, but more typically an MBA also is required. Although this area of work is open to all graduates, a degree in one of the following subjects may increase your chances: engineering; finance or economics; law; management or business studies; risk management; science; and statistics. Strong quantitative skills are a must, and thus a background in management science and in the development or use of predictive models can be very helpful. Courses in risk management are increasingly common at both the undergraduate and graduate levels, and some institutions offer degrees in risk management. 

Job growth and opportunities

There are opportunities for self-employment for experienced risk managers who want to set up their own consultancy. There may also be opportunities to work abroad as demand for risk managers is growing, particularly in new fast-developing economies.