Financial Risk Specialists
13-2054.00

The occupation code you requested, 13-2099.02 (Risk Management Specialists), is no longer in use. In the future, please use 13-2054.00 (Financial Risk Specialists) instead.

This title represents an occupation for which data collection is currently underway.

Analyze and measure exposure to credit and market risk threatening the assets, earning capacity, or economic state of an organization. May make recommendations to limit risk.

Sample of reported job titles: Analyst, Equity Research Analyst, Risk Analyst, Risk Manager, Risk Specialist, Securities Analyst

Occupation-Specific Information

Tasks

  • Analyze areas of potential risk to the assets, earning capacity, or success of organizations.
  • Analyze new legislation to determine impact on risk exposure.
  • Conduct statistical analyses to quantify risk, using statistical analysis software or econometric models.
  • Confer with traders to identify and communicate risks associated with specific trading strategies or positions.
  • Consult financial literature to ensure use of the latest models or statistical techniques.
  • Contribute to development of risk management systems.
  • Determine potential environmental impacts of new products or processes on long-term growth and profitability.
  • Develop contingency plans to deal with emergencies.
  • Develop or implement risk-assessment models or methodologies.
  • Devise scenario analyses reflecting possible severe market events.
  • Devise systems or processes to monitor validity of risk assessments.
  • Document, and ensure communication of, key risks.
  • Draw charts and graphs, using computer spreadsheets, to illustrate technical reports.
  • Evaluate and compare the relative quality of various securities in a given industry.
  • Evaluate the risks and benefits involved in implementing green building technologies.
  • Evaluate the risks related to green investments, such as renewable energy company stocks.
  • Gather risk-related data from internal or external resources.
  • Identify key risks and mitigating factors of potential investments, such as asset types and values, legal and ownership structures, professional reputations, customer bases, or industry segments.
  • Inform financial decisions by analyzing financial information to forecast business, industry, or economic conditions.
  • Interpret data on price, yield, stability, future investment-risk trends, economic influences, and other factors affecting investment programs.
  • Maintain input or data quality of risk management systems.
  • Meet with clients to answer queries on subjects such as risk exposure, market scenarios, or values-at-risk calculations.
  • Monitor developments in the fields of industrial technology, business, finance, and economic theory.
  • Prepare plans of action for investment, using financial analyses.
  • Produce reports or presentations that outline findings, explain risk positions, or recommend changes.
  • Provide statistical modeling advice to other departments.
  • Recommend investments and investment timing to companies, investment firm staff, or the public.
  • Recommend ways to control or reduce risk.
  • Review or draft risk disclosures for offer documents.
  • Track, measure, or report on aspects of market risk for traded issues.

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Technology Skills

  • Accounting software — Fund accounting software; Intuit QuickBooks Hot technology ; Sage 50 Accounting; Tax software
  • Analytical or scientific software — IBM SPSS Statistics Hot technology ; SAS statistical software; The MathWorks MATLAB Hot technology ; Ward Systems Group NeuralShell Predictor; 16 more
  • Business intelligence and data analysis software — IBM Cognos Impromptu Hot technology ; MicroStrategy Hot technology ; Oracle Business Intelligence Enterprise Edition Hot technology ; Qlik Tech QlikView Hot technology ; 1 more
  • Charting software — Montgomery Investment Technology Utility XL; TickQuest NeoTicker
  • Cloud-based data access and sharing software — Microsoft SharePoint Hot technology
  • Configuration management software — Perforce Helix software
  • Customer relationship management CRM software — Salesforce software Hot technology
  • Data base management system software — Apache Hive Hot technology ; Apache Pig Hot technology ; Teradata Database Hot technology
  • Data base reporting software — Microsoft SQL Server Reporting Services SSRS; SAP Crystal Reports Hot technology
  • Data base user interface and query software — Microsoft SQL Server Hot technology ; Oracle software Hot technology ; Structured query language SQL Hot technology ; Yardi software Hot technology ; 3 more
  • Development environment software — Microsoft Visual Basic Hot technology ; Microsoft Visual Basic for Applications VBA Hot technology ; Ruby Hot technology
  • Document management software — Microsoft Office SharePoint Server MOSS
  • Electronic mail software — IBM Notes Hot technology ; Microsoft Exchange Hot technology ; Microsoft Outlook Hot technology
  • Enterprise resource planning ERP software Hot technology — Microsoft Dynamics GP Hot technology ; NetSuite ERP Hot technology ; Oracle Hyperion Hot technology ; Oracle JD Edwards EnterpriseOne Hot technology ; 8 more
  • Enterprise system management software — IBM Power Systems software
  • Expert system software — Ivorix Neurostrategy Finance; Matheny Pattern Forecaster Plus; NeuroSolutions for MatLab
  • Financial analysis software — Delphi Technology; Oracle E-Business Suite Financials; Wolfram Research Mathematica Finance Essentials; Wolfram Research Mathematica UnRisk Pricing Engine; 73 more
  • Human resources software — ADP Workforce Now Hot technology ; Human resource management software HRMS
  • Information retrieval or search software — dailyVest Investment Personalization Platform; LexisNexis; S&P Capital IQ; Standard & Poor's Capital IQ Compustat; 4 more
  • Internet browser software — Web browser software
  • Object or component oriented development software — C++ Hot technology ; Perl Hot technology ; R Hot technology
  • Office suite software — Microsoft Office Hot technology
  • Operating system software — Linux Hot technology ; UNIX Hot technology
  • Presentation software — Apple Keynote; DealMaven PresLink for PowerPoint and Word; Google Slides; Microsoft PowerPoint Hot technology
  • Process mapping and design software — Microsoft Visio Hot technology
  • Project management software — Microsoft Project Hot technology ; Oracle Primavera Enterprise Project Portfolio Management Hot technology
  • Sales and marketing software — Marketo Marketing Automation Hot technology
  • Spreadsheet software — Apple AppleWorks; Corel QuattroPro; IBM Lotus 1-2-3; Microsoft Excel Hot technology
  • Transaction security and virus protection software — McAfee
  • Word processing software — Google Docs Hot technology ; Microsoft OneNote; Microsoft Word Hot technology ; Report generation software
Hot technology Hot Technologies are requirements frequently included in employer job postings.

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Occupational Requirements

Detailed Work Activities

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Experience Requirements

Job Zone

Title
Job Zone Four: Considerable Preparation Needed
Education
Most of these occupations require a four-year bachelor's degree, but some do not.
Related Experience
A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Job Training
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Job Zone Examples
Many of these occupations involve coordinating, supervising, managing, or training others. Examples include real estate brokers, sales managers, database administrators, graphic designers, chemists, art directors, and cost estimators.
SVP Range
2-4 years of preparation (7.0 to < 8.0)

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Training & Credentials

State training
Local training
Certifications
State licenses
Apprenticeships
Have a career path or location in mind? Visit Apprenticeship.gov external site to find apprenticeship opportunities near you.

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Workforce Characteristics

Wages & Employment Trends

Employment data for Financial and Investment Analysts, Financial Risk Specialists, and Financial Specialists, All Other.
Industry data for Financial and Investment Analysts, Financial Risk Specialists, and Financial Specialists, All Other.
Median wages (2021)
$48.08 hourly, $100,000 annual
State wages
Local wages
Employment (2020)
492,100 employees
Projected growth (2020-2030)
Average (5% to 10%)
Projected job openings (2020-2030)
41,000
State trends
Top industries (2020)

Source: Bureau of Labor Statistics 2021 wage data external site and 2020-2030 employment projections external site. “Projected growth” represents the estimated change in total employment over the projections period (2020-2030). “Projected job openings” represent openings due to growth and replacement.

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Job Openings on the Web

State job openings
Local job openings

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More Information

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Sources of Additional Information

Disclaimer: Sources are listed to provide additional information on related jobs, specialties, and/or industries. Links to non-DOL Internet sites are provided for your convenience and do not constitute an endorsement.

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