To work in the entry-level position of risk analyst, you’ll need a year or two of experience (which can consist of a combination of an internship, co-operative education experience, or part-time job) in a risk management or financial associate position at a corporation. Risk managers must have at least five years of experience in risk management, and chief risk officers generally need a minimum of 10 years of experience in lower-level risk management positions.
Risk management professionals need strong interpersonal and communication skills because they regularly interact with colleagues from a variety of departments throughout their company—from compliance and legal, to information technology and portfolio management. They also need a combination of diplomacy, confidence, and strong persuasive skills in order to effectively interact with colleagues and managers who may not always agree with their risk assessments or their strategies to reduce specific risks. Other important traits include strong analytical, project management, presentation, and research skills; in-depth knowledge of data analysis techniques and visualization tools; attention to detail; a strong work ethic; expertise in risk identification and analysis techniques; and a broad understanding of financial markets and products.