Find out the top 10 core skills you need to master as a risk manager and what hard skills you need to know to succeed in this job.
A Risk Manager is subject to managing all risks in an organization - the employees, customers, reputation, assets and interest of stakeholders. This position works with companies to assess and identify the potential hazards which may hinder the safety, security, status and financial prosperity of the business. With the risks identified, assessed and evaluated, risk managers are assigned the implementing process to ensure it is fully prepared to deal with any potential threats.
More responsibilities for this position include planning, designing and implementing the risk management process for the business, the risk assessment that involves analyzing risks as well as identifying and estimating the risks affecting the business, establishing and quantifying the business's risk appetite with the level of risk they are prepared to accept.
Core Skills Required to be a Risk Manager
Core skills describe a set of non-technical abilities, knowledge, and understanding that form the basis for successful participation in the workplace. Core skills enable employees to efficiently and professionally navigate the world of work and interact with others, as well as adapt and think critically to solve problems.
Core skills are often tagged onto job descriptions to find or attract employees with specific essential core values that enable the company to remain competitive, build relationships, and improve productivity.
A risk manager should master the following 10 core skills to fulfill her job properly.
Presentation Skills are useful in getting your message or opinion out there in many aspects of life and work, though they are mostly used in businesses, sales, teaching, lecturing, and training.
A Risk Manager must develop the confidence and capability to offer excellent presentations and captivate the audience when the need arises; it requires a lot of preparation to stand out from the crowd, and a manager should be willing to invest in it.
Judgment is the ability to make a decision or form an opinion wisely especially in matters affecting action, good sense and discretion.
A Risk Manager must be a person of good judgment with the ability to make the right decision at the right time and for right reasons especially in prioritizing the work correctly to focus on a few important things and ensure excellent results are delivered.
Knowledge of Company Processes:
Knowledge of Company Processes is the in-depth understanding of a collection of related, structured activities that serve a particular goal for a group of customers or clients who are valuable to the enterprise.
A Risk Manager ought to maintain consistency across the daily processed while keeping a keen eye on the overall plan of the organization by ensuring the company processes are performed and followed.
Team Building represents various types of activities used to enhance social relations and define roles within the different teams at the workplace.
A Risk Manager ought to provide team building activities to his team to cultivate better communication, morale, motivation, productivity and help employees know each other better as well as their strengths and weaknesses to be used in building a better workplace.
Management Skills are also known as leadership skills and involve planning, decision making, delegation, time management and time management to ensure optimum organization in focus and the technical of how and why of accomplishing tasks.
A Risk Manager must understand the business organization, finance, and communication as well as the market and the relevant technologies used to help manage everyone as they work together in a group.
Participative Management is also known as employee involvement is the participation of all stakeholders at all levels of the organization in the investigation of problems, development of strategies and implementation of solutions.
A Risk Manager should include the participative management in the enterprise to create open and honest communication, freedom and transparency solicit survey feedback and form self-managed teams that are easy to work with.
Appearance and Grooming:
Appearance and Grooming are the way one presents themselves in a professional environment or the workplace with the aim of gaining positive impression and respect as well.
A Risk Manager must be an example in proper grooming and professional appearance while ensuring all the workmates adhere to the basic guidelines presented for good grooming in the workplace that represents the company wherever they go.
Personal Growth is the improvement of one's awareness, identity, developing talents and potential to facilitate the growth of oneself and the position they handle at the workplace.
A Risk Manager ought to assist his employees in finding themselves by introducing or referring them to methods, programs, tools, techniques and assessment systems that support their development at the individual level in the organization.
Personal Relationships is the relationship between individuals who have or have had a continuing relationship of any nature either professional or informal.
A Risk Manager reserves the right to take prompt action if an actual or potential conflict of interest arises concerning individuals who engage in a personal relationship that may affect terms and conditions of employment and he should not also date a subordinate.
Seeing Potential Problems:
Seeing Potential Problems is the ability to structure the current situations and identify developments that could cause problems in the future.
A Risk Manager needs to see potential problems before they occur and work to stop them early enough, he also has to stay ahead of the flow not to be caught you by upcoming issues that could be easily prevented if they were noted soon enough.
Hard Skills Required to be a Risk Manager
Hard skills are job-specific skill sets, or expertise, that are teachable and whose presence can be tested through exams. While core skills are more difficult to quantify and less tangible, hard skills are quantifiable and more defined.
Hard skills are usually listed on an applicant's resume to help recruiters know the applicant's qualifications for the applied position. A recruiter, therefore, needs to review the applicant's resume and education to find out if he/she has the knowledge necessary to get the job done.
A risk manager should have a good command of the following hard skills to succeed in her job.