Careers rarely develop the way we plan them. Our career path often takes many twists and turns, with particular events, choices and people influencing our direction.

We asked Elaine Steiro from McDonald's to give some advice for people considering this job:


Elaine Steiro



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  Elaine Steiro

If you are considering starting in the food/ catering or hospitality sectors, you should consider whether you like working shift work and you should like working in a pressured environment .

It is a very fulfilling and rewarding sector to work in though and every day is different with new skills being added to your skillset all of the time . If you are considering moving into the management side of things, then you should be able to co ordinate tasks and people to achieve results and you should like an ever changing work environment.


Enterprising people like situations that involve using resources for personal or corporate economic gain. Such people may have an opportunistic frame of mind, and like commerce, trade and making deals. Some are drawn to sales and marketing occupations. Many will eventually end up owning their own business, or managing a section in larger organisations. They tend to be very goal-oriented, and work best when focused on a target. Some have an entrepreneurial inclination.
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Occupation Details

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Risk Analyst

Job Zone

Most of these occupations require qualifications at NFQ Levels 7 or 8 (Ordinary / Honours Degrees) but some do not.

Related Experience
A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an engineer must complete four years of college and work for several years in engineering to be considered qualified.

Job Training
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.

Job Zone Examples
Many of these occupations involve coordinating, supervising, managing, or training others. Examples include accountants, sales managers, computer programmers, teachers, chemists, environmental engineers, criminal investigators, and financial analysts.

€25k > 70 
Risk / Bond / Research Analyst
Salary Range
(thousands per year)*
€25 - 70 
Related Information:
Data Source(s):
Sigmar / Morgan McKinley / Brightwater

Last Updated: May, 2014

* The lower figures typically reflect starting salaries. Higher salaries are awarded to those with greater experience and responsibility. Positions in Dublin sometimes command higher salaries.
Shortage Indicator

The National Skills Bulletin 2016 reports a shortage of skills in the area of:

Compliance & risk: experienced (5 years+) regulatory affairs and insurance compliance professionals; auditors.

Occupational Category

Mgt. Consultants, Business Analysts & Project Managers

Also included in this category:

Business and management consultants; financial risk analysts; project managers; research support officers

Number Employed:


Part time workers: 9%
Aged over 55: 15%
Male / Female: 54 / 46%
Non-Nationals: 10%
With Third Level: 93%
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At a Glance... header image

Responsible for identifying and analysing areas of potential financial risk that threaten the assets, earning capacity or success of an organisation.

The Work header image

Risk Analysts typically specialise in one of four main risk categories:

  • Credit
  • Market
  • Regulatory or
  • Operational

Risk analysts need to keep track of developments in the economy alongside financial assessments, to identify any potential repercussions or implications for their clients.

Having identified potential risks, the Risk Analyst recommends strategies to avoid or minimise the risk.  Though some risk Analysts work as consultants, typical employers are financial institutions. Clients require daily monitoring of risks to their assets, credit and business status.


Tasks & Activitiesheader image

The following is a list of the most commonly reported tasks and activities for this occupation


Document, and ensure communication of, key risks.


Maintain input or data quality of risk management systems.


Recommend ways to control or reduce risk.


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.


Devise systems and processes to monitor validity of risk modeling outputs.


Gather risk-related data from internal or external resources.


Identify and analyze areas of potential risk to the assets, earning capacity, or success of organizations.


Develop or implement risk-assessment models or methodologies.


Produce reports or presentations that outline findings, explain risk positions, or recommend changes.


Plan, and contribute to development of, risk management systems.

Work Activities header image

The following is a list of the most commonly reported work activities in this occupation.


Analyzing Data or Information:  Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.


Making Decisions and Solving Problems:  Analyzing information and evaluating results to choose the best solution and solve problems.


Communicating with Supervisors, Peers, or Subordinates:  Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.


Updating and Using Relevant Knowledge:  Keeping up-to-date technically and applying new knowledge to your job.


Getting Information:  Observing, receiving, and otherwise obtaining information from all relevant sources.


Processing Information:  Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.


Organizing, Planning, and Prioritizing Work:  Developing specific goals and plans to prioritize, organize, and accomplish your work.


Establishing and Maintaining Interpersonal Relationships:  Developing constructive and cooperative working relationships with others, and maintaining them over time.


Identifying Objects, Actions, and Events:  Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.


Provide Consultation and Advice to Others:  Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.

Knowledge header image

The following is a list of the five most commonly reported knowledge areas for this occupation.


Mathematics:  Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.


English Language:  Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.


Economics and Accounting:  Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.


Administration and Management:  Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.


Computers and Electronics:  Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Skillsheader image

The following is a list of the most commonly reported skills used in this occupation.


Reading Comprehension:   Understanding written sentences and paragraphs in work related documents.


Critical Thinking:   Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.


Mathematics:   Using mathematics to solve problems.


Systems Analysis:   Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.


Writing:   Communicating effectively in writing as appropriate for the needs of the audience.


Active Listening:   Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.


Speaking:   Talking to others to convey information effectively.


Active Learning:   Understanding the implications of new information for both current and future problem-solving and decision-making.


Systems Evaluation:   Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.


Judgment and Decision Making:   Considering the relative costs and benefits of potential actions to choose the most appropriate one.

Entry Routesheader image

A bachelors degree is the typical entry requirement for career opportunities in this area.

A career as a Risk Analyst is potentially open to graduates of all degree disciplines, however, employers may specify numerate and business-related subjects.

Postgraduate degrees are important for career development - See as University College Cork, UCD Michael Smurfit Graduate Business School.

Relevant work experience in finance or a related ares is valuable.

Last Updated: October, 2014

Further Informationheader image

A detailed description of this occupation can be found on a number of online databases. Follow the link(s) below to access this information:

Note: you will be leaving the CareersPortal Site

Go..Financial risk analyst - from:  GradIreland
Go..Risk manager - from:  GradIreland

Related Occupationsheader image

Contactsheader image


Organisation: Chartered Financial Analysts Society Ireland (CFA)
  Address: PO Box 11111 Glenageary, Co Dublin.
  Tel: 087 6392159
  Email: Click here
  Url Click here


Organisation: Insurance Ireland
  Address: Insurance House, 39 Molesworth Street, Dublin 2
  Tel: (01) 676 1820
  Email: Click here
  Url Click here


Organisation: LIA
  Address: LIA House, 183 Kimmage Road West, Dublin 12
  Tel: 01 - 709 9850
  Email: Click here
  Url Click here


Job Search

Career Guidance

This occupation is popular with people who have the following Career Interests...

...and for people who like working in the following Career Sectors:

Banking, Insurance & Financial Services
Business Organisation & Business Management
Physical & Mathematical Sciences

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Higher Ed & CAO Course suggestions
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Further Ed & PLC Course Suggestions
If you are interested in this occupation, then the following courses may also be of interest. Note that these course suggestions are not intended to indicate that they lead directly to this occupation, only that they are related in some way and may be worth exploring.

Courses found: 6