20 Career Options after Studying Enterprise Risk Management (ERM)

Enterprise risk management (ERM) is a vital function in organizations across various industries. In India, regulators have mandated that companies need to focus on risk identification, mitigation, and reporting. Qualified Professionals can work in any domain including the risk management function of a company or in the risk advisory / consulting business or in any business department to help identify, assess, and manage risks that could impact the organization’s objectives. Here are 20 careers in enterprise risk management:

  1. Risk Manager: Responsible for overseeing the entire risk management process, developing risk strategies, and ensuring compliance with risk policies.
  2. Risk Analyst / Consultant: Analyses data, identifies potential risks and provides insights to support risk management decisions of clients whilst also preparing risk management policies, risk registers and presentations for Risk Management Committee meetings.
  3. Chief Risk Officer (CRO): Holds the highest position in the organization’s risk management hierarchy, providing leadership and strategic direction for risk management initiatives.
  4. Compliance Officer: Ensures the organization adheres to all relevant laws, regulations, and internal policies to minimize legal and compliance risks.
  5. Business Continuity Manager: Develops and implements plans to ensure the continuity of critical business functions during disruptive events.
  6. Information Security Analyst: Focuses on identifying and mitigating cybersecurity risks and protecting the organization’s information assets.
  7. Operational Risk Manager: Manages risks related to day-to-day operations, processes, and systems.
  8. Financial Risk Analyst: Specializes in analysing and managing financial risks, such as market, credit, and liquidity risks.
  9. Insurance Risk Manager: Evaluates and manages risks related to insurance coverage and ensures appropriate insurance policies are in place.
  10. Internal Auditor: Assesses the effectiveness of risk management processes and internal controls within the organization.
  11. Fraud Risk Analyst: Identifies and investigates potentially fraudulent activities and implements measures to prevent fraud.
  12. Supply Chain Risk Manager: Manages risks associated with the supply chain, ensuring smooth operations and contingency planning.
  13. ESG Specialist: Focuses on identifying and mitigating risks related to social issues, climate change, corporate governance, frauds, diversity and inclusivity, etc.
  14. IT Risk Manager: Assesses and manages risks related to information technology, data security, and IT infrastructure.
  15. Project Risk Manager: Identifies and manages risks associated with specific projects to ensure successful project outcomes.
  16. Credit Risk Analyst: Evaluates creditworthiness and assesses the credit risks associated with the organization’s customers and clients.
  17. Market Risk Analyst: Analyses potential risks arising from changes in the market, including interest rates, foreign exchange, and commodity prices.
  18. Quantitative Risk Analyst: Utilizes statistical models and data analysis to quantify and manage various types of risks.
  19. Regulatory Risk Manager: Focuses on understanding and managing risks related to changes in laws and regulations that may impact the organization.
  20. Reputation Risk Manager: Works to protect the organization’s reputation by identifying and managing risks that could harm its image or brand.

These careers offer a wide range of opportunities for professionals interested in risk management, and the demand for qualified enterprise risk management professionals continues to grow as organizations recognize the importance of effective risk mitigation strategies across the value chain and in every department.


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