Controlling, reducing, assessing and quantifying risks are a part of the responsibilities of a Risk Management professional. They help companies remain compliant to industry, business, federal and international regulation standards.
Some people who work in Risk Management are employed by agencies or consultancy firms. Others work with governments, state authorities, banks, local companies and international compliance organizations. Risk Management not only involves searching for areas that are not compliant to particular standards, but suggesting strategies and enforcing the adherence to these regulations. People who work in Risk Management perform many of the following tasks: • Mitigating risks
• Reducing potential losses
• Enforcing government and international regulations
• Assessing credits
• Monitoring performance
• Developing programs and measures for emergency situations
• Drafting business continuity plans
• Reviewing agreements, deals and contracts
• Managing department

Expertise in the following areas is an asset: • Being thorough
• Being persistent
• Being organized
• Handling multiple projects
• Leadership
• Management
• Quantifiable data
• Using computer applications
• Team management
• Stress management
• Communication
• Networking
• Being highly technical

People who work in Risk Management usually have a MBA or Bachelors degree in Finance, Management, Economics or Accounting. There are several other related fields that have these professionals. They include engineering, insurance, political science, and business law. Graduates who study in these areas are able to have a successful career in Risk Management. Professionals should have certifications from Risk Management associations. Institutions such as Risk and Insurance Management Society (RIMS), Canadian Risk Management Society and Global Risk Management Institute, Inc provide these certifications.