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The Social person's interests focus on interacting with the people in their environment. In all cases, the Social person enjoys the personal contact with other people in preference to the impersonal dealings with things, data and ideas found in other groups.

Many will seek out positions where there is direct contact with the public in some advisory role, whether a receptionist or a counsellor. Social people are motivated by an interest in different types of people and like diversity in their work environments. Many are drawn towards careers in the caring professions and social welfare area, whilst others prefer teaching and other 'informing' roles.

Salary Range
€k - €k
Career Zone

In Brief...

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

Knowledge

  • English Language Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • 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.
  • Law and Government Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
  • Economics and Accounting Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • Public Safety and Security Knowledge of relevant equipment, policies, procedures, and strategies to promote effective local, state, or national security operations for the protection of people, data, property, and institutions.

Skills

  • Critical Thinking Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Reading Comprehension Understanding written sentences and paragraphs in work related documents.
  • 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.
  • Systems Analysis Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.

In Summary - Risk Analyst

Career Sectors

Risk Analysts typically work in the following Career Sectors:

Investment Banking
Banking & Financial Services
Data Analysis
Physics, Mathematics & Space Science
Maths and Your Career
Physics, Mathematics & Space Science
Statistics
Physics, Mathematics & Space Science

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Further Information

The Work - Risk Analyst

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.

Most commonly reported Work Tasks

  • 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.

Most commonly reported Work Activities

  • Getting Information Observing, receiving, and otherwise obtaining information from all relevant sources.
  • Communicating with Supervisors, Peers, or Subordinates Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
  • Analyzing Data or Information Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
  • Interacting With Computers Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Making Decisions and Solving Problems Analyzing information and evaluating results to choose the best solution and solve problems.
  • Identifying Objects, Actions, and Events Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
  • Updating and Using Relevant Knowledge Keeping up-to-date technically and applying new knowledge to your job.
  • Evaluating Information to Determine Compliance with Standards Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
  • Processing Information Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
  • Establishing and Maintaining Interpersonal Relationships Developing constructive and cooperative working relationships with others, and maintaining them over time.

Interests - Risk Analyst

This occupation is typically suited for people with the following Career Interests:

Investigative

The Investigative person will usually find a particular area of science to be of interest. They are inclined toward intellectual and analytical activities and enjoy observation and theory. They may prefer thought to action, and enjoy the challenge of solving problems with sophiscticated technology. These types prefer mentally stimulating environments and often pay close attention to developments in their chosen field.

Enterprising

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

Administrative

Administrative people are interested in work that offers security and a sense of being part of a larger process. They may be at their most productive under supervisors who give clear guidelines and while performing routine tasks in a methodical and reliable way.

They tend to enjoy clerical and most forms of office work, where they perform essential administrative duties. They often form the backbone of large and small organisations alike. They may enjoy being in charge of office filing systems, and using computers and other office equipment to keep things running smoothly. They usually like routine work hours and prefer comfortable indoor workplaces.

Entry Requirements - Risk Analyst

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

Pay & Salary - Risk Analyst

Salary Range (thousands per year)* €25k - €70k

Risk Manager (Insurance) 70 - 90

Data Source(s):
Sigmar / Brightwater / Robert Walters / Hudson

Last Updated: February, 2017

* 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.

Labour Market Updates - Risk Analyst

Employment growth was strong for this occupation and there is evidence that employers are finding it difficult to find suitable candidates in the available labour market. Demand appears to relate primarily to the IT and financial sectors.

National Skills Bulletin 2018

Useful Contacts - Risk Analyst

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