Risk Management Specialist

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Overview

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Workplace

Outlook

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Requirements

79% Match

Career Spectrum

Resources

Overview

Description
Risk management specialists are responsible for analyzing and managing issues pertaining
to risk for various organizations. They document issues, identify key risk and mitigating
factors of potential investments, and recommend ways to control or reduce risk,
Sample Job Titles: Occupational Health and Safety Technician, Risk Manager, Risk
Assessment Specialist

Provincial Outlook

Estimated Salary

$59,283 - $150,491
Learn More

Education Level
Secondary School
On-the-job Training
College/Apprenticeship

Learn More

Compatibility

Related Occupations

79%
Match

Tax and Revenue Agent

University

Learn More

Learn More

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Workplace

Work Environment
Risk management specialists usually divide their time between their offices and the client's
site. Because they must spend a significant amount of time with clients, specialists travel
frequently. Specialists may experience stress when trying to meet a client's demands, often
on a tight schedule.

Main Duties

Document and ensure communication of key risks.

Gather risk-related data from internal or external resources.
Recommend ways to control or reduce risk.
Maintain input or data quality of risk management systems.
Plan and contribute to development of risk management systems.
Produce reports or presentations that outline findings, explain risk positions, or

recommend changes.
Devise systems and processes to monitor validity of risk modeling outputs.
Develop or implement risk-assessment models or methodologies.
Analyze new legislation to determine impact on risk exposure.
Identify and analyze areas of potential risk to the assets, earning capacity or success
of organizations.

Important Skills

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

Career Cluster

This cluster involves everything having to do with money,

including services for financial and investment planning,
banking, insurance and business financial management. This
field falls in the domain of business and often involves

Finance

working with businesses on a small or large scale to help

manage their companys decisions involving money.

Outlook

Job Outlook

Alberta
British Columbia
Manitoba
New Brunswick

Not Available

Newfoundland and Labrador

Not Available

Nova Scotia

Not Available

Northwest Territories

Not Available

Nunavut

Not Available

Ontario

Prince Edward Island

Not Available

Quebec
Saskatchewan
Yukon

Not Available

Job Outlook based on NOC 4162 (Economists and economic policy researchers and analysts)

View Regional Data

Salary Ranges

Canada

$50,164 - $108,340

Alberta

$59,283 - $150,491

British Columbia

$28,170 - $114,955

Manitoba

$39,417 - $105,461

New Brunswick

$45,865 - $114,496

Newfoundland and Labrador

Not Available

Nova Scotia

Not Available

Northwest Territories

Not Available

Nunavut

Not Available

Ontario
Prince Edward Island
Quebec
Saskatchewan

$50,164 - $107,005
Not Available
$35,474 - $109,154
$44,154 - $90,291

Yukon

Not Available

Salary Ranges are based on hourly rates for NOC 4162 (Economists and economic policy researchers and analysts) and an estimated
2086 hours per year

View Regional Data

Employment Growth

2012

215,628

2013

221,647

2014

225,783

2015

229,210

2016

232,078

2017

234,291

2018

236,438

2019

238,654

2020

240,343

2021

242,261

2022

244,249

Employment Growth based on Stats Canada Occupation Group 416

Requirements

Education Level

Secondary School

On-the-job Training

College/Apprenticeship

Requirements

A bachelor's degree in economics or related field is required.

A master's degree in economics or in a related discipline such as business
administration or statistics is usually required.
A doctorate in economics may be required.

Subject Areas

Business

Mathematics

Related Programs

University

Agricultural Economics

Agribusiness

Dalhousie University

University of Manitoba

Agricultural Studies
(Science)
University of Lethbridge

Career Spectrum

Interests

Your Interest Type is

This occupation is a

THE TACTICIAN (CE)

GOOD MATCH

Match Results

Your Results

Occupation Results

Conventional

Enterprising
56%

54%

100%

78%

Artistic

Investigative
40%

33%

6%

61%

Realistic

Social
31%

29%

28%

6%

Knowledge

Your top subject area is

This occupation is a

BUSINESS

GOOD MATCH

Match Results

Your Results

Business

Occupation Results

Computers
83%

72%

53%

43%

English

Physical Education
72%

72%

30%

13%

Technical & Trades

Creative Arts
67%

67%

29%

27%

Science

Social Science
67%

56%

14%

24%

Mathematics

Languages
50%

50%

44%

28%

Motivations

Your top motivation factor is

This occupation is a

INDEPENDENCE

GOOD MATCH

Match Results

Your Results

Independence

Occupation Results

Achievement
86%

67%

67%

67%

Recognition

Relationships
58%

53%

67%

50%

Working Conditions

Support
44%

42%

53%

50%

Compatibility
Document and ensure communication of key risks.

Somewhat

Gather risk-related data from internal or external resources.

Somewhat

Recommend ways to control or reduce risk.

Somewhat

Maintain input or data quality of risk management systems.

Somewhat

Plan and contribute to development of risk management systems.

Somewhat

Produce reports or presentations that outline findings, explain risk positions, or

recommend changes.

Just a bit

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

Just a bit

Develop or implement risk-assessment models or methodologies.

Just a bit

Analyze new legislation to determine impact on risk exposure.

Just a bit

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

Somewhat

Resources

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Tax and Revenue Agent

Auditor

Financial Manager

Tax and revenue agents

Examine records or

Financial managers direct

ensure that federal,

accounts for accuracy.

and coordinate the financial

provincial, and local

governments get...

activities of workers in a...

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