What does a Risk Analyst do?

A risk analyst evaluates financial documents, economic conditions and potential clients to help companies determine the level of risk involved in making a particular business decision. They typically work for banks and insurance companies, though any company handling large amounts of money may choose to hire a risk analyst. You can get a job as a risk analyst after college, provided that you have the relevant experience and internship credit, and can progress to higher levels of management throughout your career.

Risk analysts must have a bachelor's degree in statistics, economics, finance or another business-related degree. They should be able to use software programs, including Excel, and complete extensive research to evaluate business decisions. In certain cases, risk analysts may be required to travel to clients' locations for their work, depending on the type of company for which they work.

  • Analyze data to better understand potential risks, concerns and outcomes of decisions
  • Aggregate data from multiple sources to provide a comprehensive assessment
  • Create reports, summaries, presentations and process documents to display results
  • Collaborate with other team members to effectively analyze and present data
  • Develop systems and processes for gathering and storing data for future analytic projects
  • Conduct research into potential clients and understand the risks of accepting each one
  • Identify economic and financial trends that may present a risk to the company
  • Monitor internal and external data points that may affect the risk level of a decision
  • One to five years of experience as an analyst in a similar company or related field
  • Demonstrated ability to prioritize tasks and meet daily deadlines for projects
  • Strong written and verbal communication skills to inform managers and other stakeholders of results
  • Proficiency in Microsoft Excel, Access, Visio and other analysis programs
  • Ability to manage multiple projects and programs at the same time to complete work
  • Critical thinking skills with the ability to independently solve problems with data
  • Quantitative and analytical skills with a demonstrated ability to understand new analytical concepts
  • Basic knowledge of programming languages, such as SQL and Python
  • Presentation skills, including public speaking and presentation creation using PowerPoint or a similar program

Average Years of Experience

0 - 1
17%
2 - 4
70%
5 - 7
10%
8+
3%

Common Skill Sets

Audit
EXCEL
Risk Assessments
Written Communication
Frameworks
Powerpoint
CISSP
Microsoft Office Suite

Risk Analyst Seniority Levels

L2
Risk Analyst
£ 3,35,000/yr
L3
Senior Risk Analyst
₹ 8,38,118/yr
L4
Lead Risk Analyst
No Salary Reports
Financial Analyst
5% made the transition
Controller
40% made the transition
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Risk Analyst Salaries

Average Base Pay

₹ 5,24,641 /yr
Same as national average
Not including cash compensation
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₹314K
Median: ₹525K
₹1,498K
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Glassdoor Estimated Salary

Risk Analyst jobs