The risk management field today deals with a wide range of industries and applications. Though traditionally engaged in the analysis and management of risks in financial services in areas such as credit risk, liquidity and compliance, the role today can involve anything from ensuring adherence to risk compliance process and modelling
Increasingly, risk managers are employed to identify operational risks and inefficiencies, as well as opportunities for product, service, market and strategic optimisation or development. Work in this field typically requires a high level of knowledge of and experience in the specifics of particular industries like healthcare and energy
Roles in risk management range from analyst and consultant to positions that involve a greater degree of management. Depending on the exact industry, roles in this field may require accountancy qualifications like ACA or CIMA, risk analysis certification, data modelling skills and portfolio management experience. Experience with tools like ERP platforms, SAP, VBA and so on may be required
Median income levels of £50,000 are typical across most industries. Entry-level positions for analysts and assistants can start at £25,000 - £35,000. Senior positions and consultancy contracts, especially those in financial services, can pay £100,000.

Classifying, evaluating, and monitoring a company’s risk is the job of a Risk Manager. These managers work to prevent businesses from becoming liable or not following regulations and standards. They implement precautions and revise some guidelines that may be lacking in its scope.
Risk managers work in different industries as each company may experience different threats. Banks and financial institutions have financial risks, while manufacturing plants have safety risks. All these companies must adhere to commercial, environmental or other international regulations or ISO standards.
Risk managers work in a high demand, consistent need for quality job. They must be detail and quality oriented to provide consistent and successful service. They receive lucrative wages and benefits packages. Risk managers have many responsibilities.
Functions of a Risk manager may include;
• Draft and implement contingency procedures
• Scrutinize company property, equipment and resources
• Conduct in-depth investigations
• Review risk surveys and data
• Coordinate with executive staff
• Assist managerial teams with identifying and resolving risks issues
•  Implement strategies to minimise exposure and maintain control
• Prepare statistical, departmental and financial reports
• Manage and guide employees
• Conduct demonstrations and presentations to board members, stakeholders and clients

•  Strategic and analytical thinking
• Be able to work with time restraints
• Be able to communicate effectively
• Have expert skills in numeracy
• Have comprehensive risk management knowledge
• Be able to conduct meetings and presentations skilfully
• Be able to observe project deadlines
• Be detailed and results oriented
• Be a strong negotiator
• Excellent achievement background
• Technical knowledge in product life cycle, market risk solutions, fixed income products, credit risk and attributions
• Superior management, leadership and supervisory expertise
• Be objective
• Be professional, diplomatic and cordial
• Be able to understand complex edicts, regulation guidelines, insurance products, and financial legislation

Risk managers should have at least a bachelors degree in a finance related program. Some risk managers join professional bodies such as the Association of Corporate Treasurers and the Institute of Risk Management. This allows them to access relevant training provided by the association. 
As this is a specialised job role, risk managers have covered areas such as insurance, finance, law, business, accounting, economics and risk management. Some risk managers transition from careers in insurance; while other managers have years of working experience in finance. Professionals with basic training on risk management work as claims handlers or insurance agents.