Key Responsibilities and Required Skills for a Group Risk Analyst

🎯 Role Definition

A Group Risk Analyst is a critical linchpin within the corporate structure, serving as the analytical engine for the enterprise-wide risk management function. This role is responsible for identifying, measuring, monitoring, and reporting on the spectrum of risks—including credit, market, operational, and liquidity—that the organization faces. By transforming complex data into actionable intelligence, the Group Risk Analyst empowers senior leadership and the Board to make informed strategic decisions, safeguard company assets, and ensure long-term financial stability. They provide a holistic view of the company's risk profile, ensuring that business activities align with the established risk appetite and regulatory requirements.

📈 Career Progression

Typical Career Path

Entry Point From:

Financial Analyst
Data Analyst
Junior Auditor / Internal Audit
Compliance Analyst

Advancement To:

Senior Risk Analyst
Risk Manager
Head of Risk
Risk Modelling Specialist

Lateral Moves:

Quantitative Analyst (Quant)
Treasury Analyst
Corporate Strategy Analyst

Core Responsibilities

Primary Functions

Conduct comprehensive quantitative and qualitative analysis of various risk types, including credit, market, operational, liquidity, and strategic risks across the group's business units.
Develop, implement, and maintain sophisticated risk models and analytical tools to measure, monitor, and report on the group's risk exposures.
Perform regular stress testing and scenario analysis to assess the potential impact of adverse market conditions on the company's financial stability and capital adequacy.
Prepare detailed and insightful risk reports for senior management, the Board of Directors, and various risk committees, translating complex data into actionable business intelligence.
Monitor and analyze Key Risk Indicators (KRIs) against established risk appetite and tolerance levels, escalating any breaches or emerging trends in a timely manner.
Assist in the continuous development and enhancement of the group's Enterprise Risk Management (ERM) framework, policies, and procedures to ensure they remain effective and aligned with best practices.
Collaborate closely with business line managers to identify, assess, and mitigate risks inherent in new products, business initiatives, and strategic projects.
Support the regulatory reporting process, ensuring timely and accurate submission of risk-related data to regulatory bodies (e.g., related to Solvency II, Basel III/IV, or other industry-specific regulations).
Perform deep-dive investigations into risk events, incidents, and near-misses to identify root causes and recommend improvements to internal controls.
Manage and maintain large datasets related to risk, ensuring data integrity, accuracy, and completeness for all analytical and reporting purposes.
Contribute to the annual Internal Capital Adequacy Assessment Process (ICAAP) and Own Risk and Solvency Assessment (ORSA) by providing critical data analysis and narrative input.
Evaluate the effectiveness of existing risk mitigation strategies and internal controls, proposing enhancements where necessary to strengthen the control environment.
Stay abreast of evolving regulatory landscapes, industry trends, and emerging risks to proactively inform and adapt the group's risk management practices.
Participate in the validation of risk models developed by other teams to ensure their conceptual soundness, accuracy, and fitness for purpose.
Support the risk assessment component of the group's strategic planning and annual budgeting process, ensuring that risk considerations are integrated into key business decisions.
Facilitate risk and control self-assessment (RCSA) workshops with various departments to foster a strong risk-aware culture throughout the organization.
Analyze the group's insurance programs and other risk transfer mechanisms to ensure they provide adequate and cost-effective coverage for identified risks.
Prepare materials and presentations for stakeholder meetings, including risk committees, audit committees, and external auditors, clearly articulating the group's risk profile.

Secondary Functions

Support ad-hoc data requests and exploratory data analysis from senior leadership and other departments to address specific business questions.
Contribute to the organization's data governance framework, helping to define data standards and improve data quality for risk management purposes.
Collaborate with IT and data engineering teams to translate complex risk data needs into technical requirements for system enhancements or new tool development.
Participate in cross-functional projects, providing a risk management perspective to ensure that potential risks are considered and addressed in all major initiatives.
Mentor and provide guidance to junior analysts or interns within the risk department, sharing knowledge and best practices.

Required Skills & Competencies

Hard Skills (Technical)

Advanced proficiency in Microsoft Excel, including complex formulas, pivot tables, macros, and VBA for data manipulation and modeling.
Strong experience with data querying languages, particularly SQL, to extract and manipulate data from relational databases.
Proficiency in at least one statistical programming language such as Python (with libraries like Pandas, NumPy, SciPy) or R for advanced data analysis and risk modeling.
Experience with data visualization tools like Power BI or Tableau to create insightful and interactive risk dashboards and reports.
Solid understanding of financial principles, corporate finance, and financial statement analysis.
Knowledge of quantitative risk modeling techniques, including VaR (Value at Risk), stress testing, and Monte Carlo simulations.
Familiarity with GRC (Governance, Risk, and Compliance) software and systems used for risk tracking and reporting.

Soft Skills

Exceptional analytical and quantitative problem-solving skills with a keen attention to detail and accuracy.
Strong written and verbal communication skills, with the ability to distill complex technical information into clear, concise insights for non-technical audiences.
Excellent interpersonal skills and the ability to collaborate effectively with stakeholders across different departments and levels of seniority.
A high degree of intellectual curiosity and a proactive mindset, with a desire to continuously learn and challenge the status quo.
Strong organizational and time-management skills, capable of managing multiple projects and priorities in a fast-paced, deadline-driven environment.
Sound judgment and the ability to work independently with a high level of integrity and professionalism.

Education & Experience

Educational Background

Minimum Education:

Bachelor's degree in a relevant quantitative or business-related field.

Preferred Education:

Master's degree in a related field or a professional certification.

Relevant Fields of Study:

Finance, Economics, Statistics, Mathematics
Risk Management, Business Administration, Actuarial Science

Experience Requirements

Typical Experience Range:

3-7 years of experience in a risk management, financial analysis, or quantitative analysis role.

Preferred:

Experience within the financial services industry (banking, insurance, asset management) or a large, complex corporate environment is highly desirable. Holding or working towards a professional designation such as FRM (Financial Risk Manager), PRM (Professional Risk Manager), or CFA (Chartered Financial Analyst) is a significant asset.