Any human activity can be in one way or another associated with danger. Broadly understood, risk is the probability of a loss or loss. If we are talking about business, then all these negative consequences are financial in nature. It is simply impossible to completely protect yourself from all sides. But adverse factors can be calculated, and, therefore, minimize the likelihood of a loss. True, for this you need to have certain knowledge and skills in the business sphere. Moreover, sometimes only instinct can help. It is under the influence of all these requirements that a completely new and very popular specialty has appeared in the labor market - a risk manager. Who this is and how you can become a similar specialist is the topic of today's article.
Risks: what they are
Speaking about this rather new area of human activity, it is worth noting that the keyword here is still “manager”. And only then can we say that we can learn somewhere to predict risks. If we consider the structure of almost any business, then we can distinguish the following types of risks:
Operating. Dangers associated with the imperfection of the personnel policy of the company, safety violations, fraud, asset damage and so on. In general, everything that can happen in the course of the company’s operations is included here.
Financial. The risk that, for one reason or another, the company may not be able to fulfill its financial obligations to partners. These include the following risks:
- credit;
- market - a decrease in the value of assets for various reasons;
- balance sheet - the risk of balance and liquidity of existing assets.
A competent financial risk manager should be able to correctly assess each of them and calculate ways to minimize them.
Managerial. These risks include the following:
- loss of business reputation;
- wrong choice of enterprise development strategy;
- reduction in the value of the company in the relevant market.
Other types of risks. In the general case, there are about a hundred types of different risks that can be classified based on the type of activity of the organization.
Profession Description
There are many risks. The risk manager of the enterprise is engaged in their definition, classification, analysis and control.
This is one of the leading positions in the strategic management of the company. In modern realities, Russian businessmen regularly have to deal with many different factors, each of which can unpredictably affect the organization. This is mainly due to a sharp change in the exchange rate and, as a consequence, commodity prices. Also freely walk and interest rates on loans.
As a rule, large enterprises create a whole system for identifying and minimizing risks. In smaller risk manager - this is most often the leader himself.
Where is this taught
It is very difficult to train a specialist of this kind. That is why in the list of specialties of institutes, academies and universities you are unlikely to find such a profession as a risk manager.
A good specialist in this field should have a fairly large amount of knowledge in the following areas:
- law;
- mathematical analysis ;
- statistical analysis;
- Information Systems;
- Computer techologies;
- the specifics of the economic activity of the enterprise in which to work.
Most often, applicants for the position of “risk management manager” are heads of business areas with sufficient work experience. Also, good “hazard” managers are obtained from graduates of technical and mathematical educational institutions who have experience in conducting mathematical and statistical analyzes.
Almost the only specialized training center in this area is the Global Association of Risk Professionals (GARP). The specialists of this company provide continuing education and centralized training programs for senior management. GARP has been operating in the Russian market since 1999 and provides certification programs in the field of risk management. This Association has its offices in more than 100 countries and trains high-level specialists.
Responsibilities
Work as a risk manager is most often associated with the assessment of current affairs at the enterprise, the search for weaknesses and ways to address them. The activities of such a specialist can be put into approximately the following scheme:
- identification of existing risks;
- assessment of the possibility of adverse development of the situation;
- development of a process management action plan;
- development of a strategy for the company to reduce the likely negative and minimize losses;
- implementation of the chosen strategy;
- adjustment of actions if necessary;
- summing up the work.
Of course, clear job descriptions depend, first of all, on which projects the risk manager manages.
What else do you need to know
In addition to fairly extensive knowledge in the field of mathematics, economics, statistics and other fields of activity, a specialist in working with risks will also need such skills:
- at least 2 years of experience in analytics;
- the ability to work with a computer at the level of an experienced user;
- knowledge of English, both spoken and written;
- knowledge of accounting and Russian legislation in the selected field;
- knowledge of financial reporting systems;
- willingness to work almost constantly under stress;
- the ability to prove one’s point of view and to defend it, if necessary.
Prospects
Due to the relatively recent emergence of the profession “project risk manager”, there is no big boom in the labor market. Nevertheless, there is always a demand for good specialists in this field. And every year it only grows. Such specialists are especially in demand in companies planning to become attractive to foreign investors. Today it is mainly large banks, leasing companies and other financial enterprises. But every year the list of enterprises only increases.
Pay level
Since the majority of applicants for such a position are recent graduates of higher educational institutions, the level of wages for them is not too high, about 2 thousand dollars. But after several years, as experience and practical knowledge are gained, earnings increase by about 2.5 times.
Larger companies with risk managers with experience value a little more. Here, wages start already at 10 thousand US dollars, and the upper bar is practically absent. An experienced risk manager, who occupies a top position in the company, can evaluate his services at 60-80 thousand dollars or even higher.
People choosing such a profession should not only have a lot of different knowledge, but also have a certain character set. Meticulousness, attention to detail, the ability to keep a huge amount of information in sight , and the ability to work for a long time under constant stress are inherent in a good professional.
How needed is such a specialist
The position of manager of risk situations, focused on the break-even of the existing business, as a rule, is introduced by already established, mature companies. The introduction of such a specialist into the staff is possible and justified when a certain model of business processes already exists in the enterprise. Otherwise, it is very difficult to distribute authority and impose responsibility for running a business. Most often, in enterprises that do not have such a specialist, risk management is still underway. In this case, the functions of the risk manager are delegated to other departments:
- legal department ;
- security service;
- internal control unit;
- finance department;
- information security service;
- other specialists.
In conclusion, I want to say that business today increasingly uses a variety of information technologies, and they, as you know, are developing rapidly. Therefore, there is no guarantee that the experience of today's experts in the field of risk management will be of any value in a few years. So the success of this profession, of course, depends on the level of development and self-education of applicants.