Torchora
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Key Responsibilities and Required Skills for a Risk Management Analyst

💰 $75,000 - $115,000

FinanceRisk ManagementAnalyticsCompliance

🎯 Role Definition

As a Risk Management Analyst, you will be the cornerstone of our enterprise-wide risk management (ERM) framework. Your primary objective is to protect the organization's value by proactively identifying potential financial, operational, strategic, and compliance risks. You will conduct in-depth analyses, monitor key risk indicators, and collaborate with various business units to develop and implement effective mitigation strategies. This position requires a blend of quantitative prowess, sharp critical thinking, and excellent communication skills to translate complex data into actionable insights for senior leadership, ultimately shaping the company's strategic decisions and fostering a strong risk-aware culture.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Financial Analyst
  • Data Analyst
  • Internal Auditor
  • Compliance Associate

Advancement To:

  • Senior Risk Management Analyst
  • Risk Manager
  • Director of Risk Management
  • Chief Risk Officer (CRO)

Lateral Moves:

  • Compliance Manager
  • Quantitative Analyst
  • Internal Audit Manager
  • Business Intelligence Manager

Core Responsibilities

Primary Functions

  • Conduct comprehensive risk assessments across various business units to identify, analyze, and evaluate potential operational, financial, strategic, and compliance risks.
  • Develop, monitor, and report on Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs) to provide early warnings of potential risk exposures.
  • Design and implement robust risk mitigation strategies and control measures in collaboration with department heads to minimize risk impacts.
  • Prepare and present detailed, high-quality risk reports, dashboards, and presentations for the Risk Committee, senior management, and the Board of Directors.
  • Maintain and enhance the Enterprise Risk Management (ERM) framework, policies, and procedures to ensure they remain effective and aligned with industry best practices.
  • Perform scenario analysis and stress testing on various risk types (e.g., market risk, credit risk, liquidity risk) to understand potential impacts under adverse conditions.
  • Ensure the organization's adherence to internal policies and external regulatory requirements, including SOX, Dodd-Frank, Basel III, and other relevant standards.
  • Facilitate risk and control self-assessment (RCSA) workshops with business process owners to proactively identify and document risks and associated controls.
  • Evaluate the effectiveness of internal controls through testing and analysis, and provide recommendations for remediation and improvement.
  • Manage the corporate insurance program, including policy renewals, claims management, and evaluation of coverage adequacy.
  • Support the Third-Party Risk Management (TPRM) program by conducting due diligence and ongoing monitoring of vendors and partners.
  • Investigate, document, and analyze risk incidents and near-misses to identify root causes and implement corrective action plans to prevent recurrence.
  • Utilize Governance, Risk, and Compliance (GRC) software and other risk management tools to document, track, and report on risk management activities.
  • Assist in the development and execution of the organization's Business Continuity and Disaster Recovery plans to ensure operational resilience.
  • Provide expert risk management guidance and training to employees across the organization to foster a proactive, risk-aware culture.
  • Analyze new products, business initiatives, and strategic projects for potential risks before implementation.
  • Stay abreast of emerging risks, industry trends, and changes in the regulatory landscape to ensure the company's risk posture is forward-looking.

Secondary Functions

  • Support ad-hoc data requests and exploratory data analysis to investigate emerging risk trends.
  • Contribute to the organization's data governance strategy by ensuring risk data quality and integrity.
  • Collaborate with IT and data engineering teams to translate risk management needs into technical requirements for systems and tools.
  • Participate in sprint planning and agile ceremonies within cross-functional project teams.
  • Assist in the annual risk-based audit planning process by providing insights into the corporate risk profile.
  • Develop and maintain process flow documentation for key business cycles to support risk and control mapping.

Required Skills & Competencies

Hard Skills (Technical)

  • Advanced Microsoft Excel: Mastery of complex formulas, pivot tables, macros, and data modeling for sophisticated risk analysis.
  • SQL Proficiency: Ability to write complex queries to extract, manipulate, and analyze large datasets from relational databases.
  • Statistical Analysis: Strong knowledge of statistical concepts and experience with tools like Python (with pandas, NumPy), R, or SAS for quantitative analysis.
  • Data Visualization: Expertise in creating clear and impactful reports and dashboards using tools such as Tableau, Power BI, or Qlik.
  • GRC Software: Hands-on experience with Governance, Risk, and Compliance (GRC) platforms like Archer, ServiceNow GRC, LogicManager, or a similar system.
  • Financial Modeling: Proven ability to build financial models to perform stress testing, scenario analysis, and valuation.

Soft Skills

  • Analytical & Problem-Solving: Exceptional ability to dissect complex problems, interpret data, and draw logical, evidence-based conclusions.
  • Communication Skills: Superior written and verbal communication skills, with the ability to articulate complex risk concepts clearly to both technical and non-technical audiences.
  • Attention to Detail: Meticulous and thorough approach to analysis, documentation, and reporting to ensure accuracy and reliability.
  • Stakeholder Management: Strong interpersonal skills and the ability to build relationships, influence, and collaborate effectively across all levels of the organization.
  • Ethical Judgment & Integrity: Unwavering commitment to ethical conduct and the ability to handle sensitive and confidential information with discretion.
  • Strategic Thinking: Capacity to see the bigger picture and understand how individual risks connect to the organization's overall strategic objectives.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's Degree

Preferred Education:

  • Master’s Degree (MBA, M.S. in Finance, Risk Management, or a quantitative field).
  • Professional certifications such as Financial Risk Manager (FRM), Professional Risk Manager (PRM), or Certified Public Accountant (CPA).

Relevant Fields of Study:

  • Finance
  • Economics
  • Business Administration
  • Statistics
  • Accounting
  • Mathematics

Experience Requirements

Typical Experience Range:

  • 3-7 years of direct experience in a risk management, financial analysis, internal audit, or compliance role.

Preferred:

  • Experience within a highly regulated industry such as financial services, banking, insurance, or healthcare is strongly preferred.
  • Demonstrated experience working with an established Enterprise Risk Management (ERM) framework.
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