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Risk Enterprise Management - Risk Enterprise Management Job Description

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A person who works in risk enterprise management has the job of helping a company’s top leaders stay updated with all of the regulatory guidelines. A risk enterprise manager also makes sure that the company’s leaders are updated with all of the professional standards and all of the industry practices. Working in risk enterprise management means that you need to make sure that a company’s procedures, internal controls, and mechanisms are in compliance with all regulations.

Responsibilities That Come With Risk Enterprise Management

Those who work as a risk enterprise manager play a very important role in a company’s overall control framework. For example, risk enterprise management involves controlling risk identification, evaluating that risk, and monitoring that risk. A risk enterprise manager will usually identify risks through resources such as the company’s risk and control self-assessment program. This helps everyone who works for the company understand how to record and rate any risks that are associated with company operations. Risk evaluation is usually performed through computer models or statistical formulas. Risk enterprise managers may also use math-based methodologies, such as those that are used in order to calculate a company’s overall market risk. Responsibilities that come with risk enterprise management also include internal audit reviews periodically.

Risk Enterprise Management Education and Training

The typical person who works in risk enterprise management has a four-year college degree. This is usually in auditing, accounting, finance, risk management, or investment. Someone who works in risk enterprise management may also choose to obtain a degree in liberal arts. Liberal arts involve subjects that include history and sociology.

It also is not all that uncommon to find a person who works in risk enterprise management that has an advanced degree. Many risk enterprise managers find themselves obtaining an advanced degree that focuses more on financial risks. Such a degree could help someone climb the risk enterprise management job ladder easily and effortlessly.

One may also find risk enterprise managers who have taken risk enterprise management training classes. For example, some employees may work to obtain the professional certification. Many people work hard to obtain the financial risk manager certification, or the FRM.

The Salary of a Risk Enterprise Manager

The amount of money that a risk enterprise manager makes depends on many different factors. These factors include the length of time that a person works for the company, how much experience that person has, his or her professional credentials, his or her academic credentials, and what type of industry that he or she works in.

The U.S. Department of Labor states that the average risk enterprise management worker makes around ninety nine thousand dollars. This does not include stock options and yearly bonuses. The middle fifty percent makes between seventy thousand dollars and one hundred and thirty five thousand dollars.

Those with an actuarial background may earn even more. Those with such a background make between eighty thousand dollars and one hundred and sixty thousand dollars.

The Career Development of a Risk Enterprise Manager

An undergraduate who works in the profession of enterprise risk management may be able to increase his or her chances of obtaining a promotion if he or she tried to obtain a master’s degree in statistics or finance.
When a risk enterprise manager obtains a higher degree, he or she will be able to make more money easily. This is true as long as the degree is relevant to the profession.

In addition, a person who works in risk enterprise management may also be able to obtain a promotion if he or she worked hard towards professional certification. This includes becoming a chartered financial analyst, a certified public accountant, or even a certified fraud examiner.

It does not take long for someone who works as a risk enterprise manager to climb his or her way to the top. In fact, many resources say that it should only take between three years and five years for a risk enterprise manager to obtain the senior role in risk enterprise management.

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