All organisations are exposed to risk.
Risk managers try and reduce and mitigate an organisation’s exposure to risk. They do this by analysing an organisation’s exposure to risk, develop and implement strategies for controlling and monitoring risks.
Entry and progression
Risk managers are often graduates or experienced professionals. There are sometimes entry roles into the profession which tend to be administrative or support roles within a risk management team.
ACCA provides the knowledge and skills needed by complete finance professionals including those needed by risk managers. Those working or aspiring to work in risk management would find the options exams Advanced Financial Management (P4) and Advanced Taxation (P6) as most relevant to their roles.
It is not just about exams. Getting the right experience helps trainees gain the competencies needed to enter and move up through their career in risk management. Areas such as evaluating potential business/investment opportunities and the required finance options (PO15) and managing cash using active cash management and treasury systems (PO16), and assisting with tax planning are relevant (PO20) would all provide great experience and relate to the performance objectives (PO) which need to be signed off as part of the Practical Experience Requirement (PER).
Career progression in this role can be supported by developing and demonstrating professional behaviours. Take a look at the behavioural competencies in the Competency Framework to reflect on the type of behaviours which are useful for business advisers.