Occupation Details
Financial Risk Specialists
Analyze and measure exposure to credit and market risk threatening the assets, earning capacity, or economic state of an organization. May make recommendations to limit risk.
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Salary & Job Outlook
Starting Salary
$89,970.00
New York StateMedian Salary
$134,530.00
New York StateExperienced Salary
$179,330.00
New York StateNational Average for Comparison
New York State Job Market Outlook
Jobs Right Now (2018)
271,940
professionals in NYFuture Job Growth (2030)
304,640
+3,270 jobs/yearNew Jobs Every Year
26,620
new opportunities yearlyGrowth Rate
0.1%
projected increasePreparation: Experience, Training, and Education
The list below outlines the prior educational experience required to perform in this occupation.
Degree Needed - Four-year college
Experience Requirements
A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Education Requirements
Most of these occupations require a four-year bachelor's degree, but some do not.
Training Details
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Transferrable Skills and Experience
Many of these occupations involve coordinating, supervising, managing, or training others. Examples include real estate brokers, sales managers, database administrators, graphic designers, conservation scientists, art directors, and cost estimators.
School Programs
The following lists school programs which are applicable to this occupation.
Licensing & Certification
State License and Certifications Requirements are not currently associated with this occupation.
Apprenticeship
Contact your regional representative to learn more about apprenticeships available in your area by visiting Apprenticeship Contacts.
Skills
Skills information is not available for this occupation.
Knowledge
Knowledge information is not available for this occupation.
Work Environment
Work Environment information is not available for this occupation.
Work Styles
Work styles information is not available for this occupation.
Tools & Technology
This list below describes the machines, equipment, tools, software, and information technology that workers in this occupation will use.
Tools
- 10-key calculators
- Computer data input scanners
- Desktop computers
- Laptop computers
- Laser facsimile machines
- Multi-line telephone systems
- Notebook computers
- Personal computers
- Photocopying equipment
Technology
- ADP Workforce Now
- Advanced Portfolio Technologies Simulator
- Analyse-it
- Annuities analysis software
- Apache Pig
- Apple AppleWorks
- Apple Keynote
- Aptech Systems GAUSS
- Business Forecast Systems Forecast Pro
- C++
- Corel QuattroPro
- Data visualization software
- DealMaven Modeling ToolPack for Excel
- DealMaven PresLink for PowerPoint and Word
- Decisioneering Crystal Ball
- Express Business Valuations
Duties
Job duties information is not available for this occupation.
Tasks
The list below outlines specific tasks that a worker in this occupation is called upon to do regularly.
- 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.
- Contribute to development of risk management systems.
- Determine potential environmental impacts of new products or processes on long-term growth and profitability.
- Develop contingency plans to deal with emergencies.
- Develop or implement risk-assessment models or methodologies.
- Devise scenario analyses reflecting possible severe market events.
- Devise systems or processes to monitor validity of risk assessments.
- Document, and ensure communication of, key risks.
- Draw charts and graphs, using computer spreadsheets, to illustrate technical reports.
- Evaluate and compare the relative quality of various securities in a given industry.
- Evaluate the risks and benefits involved in implementing green building technologies.
- Evaluate the risks related to green investments, such as renewable energy company stocks.
- Gather risk-related data from internal or external resources.
- Identify key risks and mitigating factors of potential investments, such as asset types and values, legal and ownership structures, professional reputations, customer bases, or industry segments.
- Inform financial decisions by analyzing financial information to forecast business, industry, or economic conditions.
- Interpret data on price, yield, stability, future investment-risk trends, economic influences, and other factors affecting investment programs.
- Maintain input or data quality of risk management systems.
- Meet with clients to answer queries on subjects such as risk exposure, market scenarios, or values-at-risk calculations.
- Monitor developments in the fields of industrial technology, business, finance, and economic theory.
- Prepare plans of action for investment, using financial analyses.
- Produce reports or presentations that outline findings, explain risk positions, or recommend changes.
- Provide statistical modeling advice to other departments.
- Recommend investments and investment timing to companies, investment firm staff, or the public.
- Recommend ways to control or reduce risk.
- Review or draft risk disclosures for offer documents.
- Track, measure, or report on aspects of market risk for traded issues.