Employers

Risk managers work for banks, investment firms, broker/dealers, and family offices. They also are employed by accounting and consulting firms that provide risk management services to banks and other wealth management companies. Chief risk officers are most likely to be employed by large institutions. In addition to employment in the wealth management industry, risk managers work for corporations of all types, government agencies, the U.S. military, and nonprofit organizations.

Starting Out

Professional associations provide many excellent job-search resources. For example, RIMS—The Risk Management Society offers a Career Tools section on its Web site (https://jobbank.rims.org/jobseekers) that features articles on resume writing, networking, career success, and other topics. Its site also provides job listings, information on the Spencer-RIMS Risk Management Challenge (https://www.rims.org/community/students/spencer-rm-challenge), which will allow you to start building your skills and your professional network, and details on its annual conference.

Other job-search strategies include networking at career fairs and on social media sites, using the resources of your college’s career services office, participating in internships, using the services of recruiters, and applying for jobs directly at the Web sites of potential employers. 

At an investment bank or a large wealth management firm, a skilled risk analyst can advance to the position of risk manager after five years on the job, and then to chief risk officer (after working as a risk manager for 10 years). Some risk management professionals become partners, receiving an ownership stake in the firm. 

In addition to working in risk management positions at corporations, risk managers also can work as independent consultants. Some leave the profession to become teachers at colleges and universities.  

Get certified. It will give you an edge over other applicants.

Visit the following web sites for job listings:

• https://jobs.prmia.org
• https://www.careerbuilder.com/jobs-risk-manager
• https://www.pionline.com/careers
• https://www.riskmanagementweb.com

Attend industry conferences to network and learn more about the field. RIMS-The Risk Management Society offers information on its annual conference, as well as regional conferences and summits, at its Web site, https://www.rims.org.