Profession risk manager

Risk managers identify and assess potential threats and risks to a company, and give advice on how to deal with them. They create preventive plans to avoid and reduce risks, and put plans in place for when the company is threatened.

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Personality Type

  • Conventional / Enterprising

Knowledge

  • Financial management

    The field of finance that concerns the practical process analysis and tools for designating financial resources. It encompasses the structure of businesses, the investment sources, and the value increase of corporations due to managerial decision-making.

  • Financial analysis

    The process of assessing the financial possibilities, means, and status of an organisation or individual by analysing financial statements and reports in order to make well informed business or financial decisions.

  • Corporate social responsibility

    The handling or managing of business processes in a responsible and ethical manner considering the economic responsibility towards shareholders as equally important as the responsibility towards environmental and social stakeholders.

  • Tax legislation

    Tax legislation applicable to a specific area of specialisation, such as import tax, government tax, etc.

  • Securities

    The financial instruments traded in financial markets representing both the right of property over the owner and at the same time, the obligation of payment over the issuer. The aim of securities which is raising capital and hedging risk in financial markets.

  • Financial statements

    The set of financial records disclosing the financial position of a company at the end of a set period or of the accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.

Skills

  • Integrate strategic foundation in daily performance

    Reflect on the strategic foundation of companies, meaning their mission, vision, and values in order to integrate this foundation in the performance of the job position.

  • Analyse market financial trends

    Monitor and forecast the tendencies of a financial market to move in a particular direction over time.

  • Calculate dividends

    Calculate the payments made by corporations as distribution of their profit to the shareholders, ensuring that the shareholders receive the correct amount in the correct format, meaning in monetary payouts via deposits or via the issuing of further shares or share repurchase.

  • Liaise with managers

    Liaise with managers of other departments ensuring effective service and communication, i.e. sales, planning, purchasing, trading, distribution and technical.

  • Analyse financial performance of a company

    Based on accounts, records, financial statements and external information of the market, analyse the performance of the company in financial matters in order to identify improvement actions that could increase profit.

  • Interpret financial statements

    Read, understand, and interpret the key lines and indicators in financial statements. Extract the most important information from financial statements depending on the needs and integrate this information in the development of the department's plans.

  • Make strategic business decisions

    Analyse business information and consult directors for decision making purposes in a varied array of aspects affecting the prospect, productivity and sustainable operation of a company. Consider the options and alternatives to a challenge and make sound rational decisions based on analysis and experience.

  • Analyse financial risk

    Identify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.

  • Estimate profitability

    Take various factors into account to calculate the cost and potential revenues or savings gained from a product in order to evaluate the profit that could be generated by the new acquisition or by a new project.

  • Advise on financial matters

    Consult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.

  • Strive for company growth

    Develop strategies and plans aiming at achieving a sustained company growth, be the company self-owned or somebody else's. Strive with actions to increase revenues and positive cash flows.

  • Advise on tax policy

    Advise government officials on changes in tax policies and procedures, and the implementation of new policies on a national and local level.

  • Advise on risk management

    Provide advice on risk management policies and prevention strategies and their implementation, being aware of different kinds of risks to a specific organisation.

  • Create a financial plan

    Develop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.

  • Analyse internal factors of companies

    Research and understand various internal factors that influence the operation of companies such as its culture, strategic foundation, products, prices, and available resources.

  • Assess risk factors

    Determine the influence of economical, political and cultural risk factors and additional issues.

  • Collect financial data

    Gather, organise, and combine financial data for their interpretation and analysis in order to predict possible financial scenarios and performance of a company or project.

  • Enforce financial policies

    Read, understand, and enforce the abidance of the financial policies of the company in regards with all the fiscal and accounting proceedings of the organisation.

  • Follow company standards

    Lead and manage according to the organisation's code of conduct.

  • Plan health and safety procedures

    Set up procedures for maintaining and improving health and safety in the workplace.

  • Manage securities

    Administer the securities owned by the company or organisation, namely debt securities, equity securities and derivatives aiming to get the highest benefit from them.

  • Analyse external factors of companies

    Perform research and analysis of the external factor pertaining to companies such as consumers, position in the market, competitors, and political situation.

Optional knowledge and skills

assess reliability of data national generally accepted accounting principles communicate with banking professionals international financial reporting standards keep updated on the political landscape analyse loans banking activities perform stock valuation insurance law financial forecasting investment analysis accounting department processes analyse insurance needs advise on investment assess financial viability financial products compile appraisal reports idenfify if a company is a going concern develop company strategies types of insurance financial department processes risk transfer create risk reports apply credit risk policy