A risk management certification is a great example of a rewarding and useful business accreditation that is achievable by any individual with sufficient academic training and work experience. These certificates are conferred by a variety of different oversight associations that monitor the risk management industry, and work with professionals and academics to move the industry forward.
Earning a certificate in this area can lead to a variety of different and rewarding careers. Each of these diverse paths represents a unique and exciting opportunity to realize an increased feeling of prestige and sphere of responsibility within the workplace, as well as earn a greater level of income. One example of a career in this area includes becoming a business management consultant that specializes in risk identification, analysis, and mitigation. However, the majority of individuals who obtain a risk certificate become internal risk analysts or risk managers within a specific organization
When an individual completes a certificate in risk, they are exposed to a broad, skill-based management training curriculum. This certification training prepares the individual to become a competent, resourceful, and contributing member of an organizations management team. A certified risk manager is trained how to identify the unique business risks the organization is exposed to, how to analyze both the risks themselves and the factors that drive their occurrence, how to quantify both the probability that these risks occur as well as their impact should they occur, how to prioritize the risks and devote appropriate resources to their mitigation, and how to monitor the organizations operation to predict when risks may occur.
A successful manager of risk must not only understand the ins and outs of risk identification and risk assessment, but must also possess an understanding of resource management and also be an effective communicator. This manager must be able to prioritize the risks the company is exposed to, and focus resources both efficiently and effectively on the mitigation of the most threatening risks.
Some other roles and responsibilities of a typical risk manager include;
Within some organizations a manager of risk is charged with overseeing the company’s compliance with government regulation, legal code, or industry specification.
This manager can either me a member of a risk oversight team, or be charged with overseeing the team itself. This team is responsible for conducting the day-to-day processes of risk management, and working with representatives of senior management to guide risk-mitigated decision making.
Adapting, developing, implementing, monitoring an organizational risk identification and monitoring policy that outlines and codifies the organizations approach to operational hazards.
Many organizations, especially larger company’s with expansive operations, have a top-level risk oversight position, such as a Chief Risk Officer. This C-suite level position is responsible for the overall effective and efficient governance of the organizations business risks, and reports to the company’s executive committee or its Board of Directors. Any individual that is interested in reaching this exciting, rewarding, and prestigious executive position would be very well served to earn a risk management certification.