Articles

Working as a Risk Manager – Part 3

Estimated reading time: 2 minutes

 

Introduction

We continue with this post by breaking down what it means to be a Financial Risk Manager and what’s it like to have such a position within a corporation.

You can read the previous post by clicking here.

 

Work activities

When working within the risk management profession, you will be tasked with many related duties on your way to being molded for higher levels.

In the early stages however, the tasks assigned may seem a bit boring and repetitive. Don’t worry, this is just how it goes.

Many persons will have to do the mundane tasks before being entrusted to do anything else.

Nevertheless, you should know about some of the activities out there in the field and we have a few below:

  • Being called to perform data-entry activities for the department
  • Managing and keeping the risk-records to be used in various analyses
  • Being asked to help with the claims processes
  • Analyzing those methods used to compute financial impacts to portfolios
  • Helping to prepare budgets

 

The obvious negative

You probably know what we are about to talk about here when we mention the most obvious negative.

It’s the many hours you will have to put in to be successful in the work environment.

Particularly in the “early days”, you will want to prove your worth to the firm and go above-and-beyond- and, as a direct result of this expect your family life to suffer a bit.

Long hours in the office and long hours finishing work at home. This is something you will have to come to grips with as soon as possible.

The truth is, this is not for everyone and some will simply be unable to give themselves so completely to their jobs. You will have to decide.

There is family and friends to consider and even your social life will play a part in your final decision.

However, whatever path you choose, just know that you may be faced with long hours elsewhere anyway so why not just make the effort?

 

Where in the world?

Being part of this coveted group can put you in some very high places and you may even find yourself travelling to parts of the world that never entered your mind.

This will be a great thing to some. Being able to have the opportunity to change countries and see what life is about elsewhere. This can be a very liberating and exhilarating experience.

Whether you prefer to work at your home base or explore the unknow about the globe, just be sure to have an open mind and consider the possibilities out there.

 

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