Enterprise Risk Management Specialist Job Description [Updated for 2025]

In an increasingly complex and interconnected world, the role of Enterprise Risk Management Specialists has never been more crucial.

As businesses evolve and navigate through unprecedented challenges, the demand for skilled professionals who can identify, assess, and mitigate risks grows exponentially.

But what exactly is expected from an Enterprise Risk Management Specialist?

Whether you are:

• A job seeker aiming to understand the intricacies of this role,
• A hiring manager outlining the perfect candidate,
• Or simply fascinated by the realm of risk management,

You’ve come to the right place.

Today, we introduce a customizable Enterprise Risk Management Specialist job description template, structured for effortless posting on job boards or career websites.

Let’s dive right in.

Enterprise Risk Management Specialist Duties and Responsibilities

Enterprise Risk Management (ERM) Specialists ensure the organization’s risk management practices are compliant with relevant regulations and aligned with business objectives.

They play a strategic role in identifying, analyzing, and mitigating risks that may affect the company’s operations and overall performance.

The duties and responsibilities of an ERM Specialist include:

• Developing and implementing enterprise risk management strategies and processes
• Assessing and identifying potential risks that may hinder the reputation, safety, security and financial success of the organization
• Setting up processes to avoid, reduce or transfer risks
• Analyzing risk management data and report key trends, weaknesses and areas of exposure
• Developing contingency plans to manage crises and unexpected risk events
• Ensuring compliance with relevant regulatory requirements and standards, such as Sarbanes-Oxley (SOX) or Basel III
• Facilitating risk assessments and risk management workshops
• Conducting audit testing and developing risk reports for executives and board members
• Liaising with functional or operational area managers to ensure the implementation of risk mitigation plans

 

Enterprise Risk Management Specialist Job Description Template

Job Brief

We are looking for a detail-oriented Enterprise Risk Management Specialist to join our team.

The specialist will be responsible for identifying, assessing, and monitoring company-wide risks.

The ideal candidate has a strong understanding of risk management concepts, financial markets, and regulatory systems.

The role of an Enterprise Risk Management Specialist is to ensure that our business maintains an adequate risk management framework, in line with the current risk appetite and regulatory guidelines.

 

Responsibilities

• Identify and assess threats to the organization.
• Develop plans to mitigate risks and implement them effectively.
• Monitor and report on risks in a clear and understandable manner.
• Ensure all aspects of risk management adhere to company policies and regulations.
• Collaborate with various departments to gather information and develop risk management strategies.
• Conduct risk assessments and audits to ensure operational efficiency.
• Provide training on risk management to staff and maintain awareness of risks.
• Stay current on industry trends and regulations to ensure effectiveness of risk management strategies.

 

Qualifications

• Proven experience as a Risk Management Specialist or similar role.
• Knowledge of risk assessment and control.
• Experience with auditing and reporting procedures.
• Proficient in databases and risk assessment software.
• Strong analytical skills.
• Excellent communication and presentation skills.
• BSc/BA in Law, Business, Finance or a related field.
• Professional Risk Manager (PRM) certification is a plus.

 

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

 

Additional Information

• Job Title: Enterprise Risk Management Specialist
• Work Environment: Office setting with some options for remote work. Some travel may be required for industry conferences or meetings.
• Reporting Structure: Reports to the Risk Management Director or Chief Risk Officer.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $90,000 minimum to $150,000 maximum
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does an Enterprise Risk Management Specialist Do?

Enterprise Risk Management Specialists work in a variety of industries, primarily focusing on identifying potential risks that could affect an organization’s operations and objectives.

They can work for corporations, consulting firms, or as independent professionals.

They are responsible for developing risk management processes and strategies, and they work in conjunction with other departments such as finance, operations, and IT to ensure all potential risks are addressed.

Their job involves identifying and assessing potential risks, designing controls to mitigate these risks, and monitoring the effectiveness of these controls.

They are also responsible for preparing reports on risk management for top management and stakeholders.

They also conduct risk assessments, which involves analyzing the potential impact and likelihood of risks, and developing strategies to manage and mitigate these risks.

Enterprise Risk Management Specialists also help in creating contingency plans and business continuity strategies in case of a major risk event.

Their role is crucial in providing guidance to the organization in decision-making processes, with the aim of reducing uncertainties and potential losses.

In addition to their risk management duties, they may also be involved in ensuring the company’s compliance with industry standards and regulations.

They need to stay updated with current industry trends and regulatory changes that could impact the organization’s risk profile.

Their role plays a vital part in ensuring the organization’s sustainability and profitability, making them an integral part of any company.

 

Enterprise Risk Management Specialist Qualifications and Skills

An Enterprise Risk Management Specialist should have a robust set of skills and qualifications that correspond to the responsibilities and tasks required in the role, such as:

• Strong analytical skills to identify and assess potential risks that could hinder the achievement of organizational goals.
• Understanding of risk management tools and methodologies to implement and maintain risk management processes.
• Excellent communication skills to clearly articulate complex risk management principles to stakeholders at all levels, and to facilitate productive discussions about risk.
• Ability to make well-balanced decisions under pressure, taking into account potential risks and benefits.
• Experience in developing and implementing risk management policies and procedures that align with the organization’s strategic objectives.
• Proficiency in using risk assessment software and databases to gather, analyze, and interpret risk data.
• Strong problem-solving abilities to identify potential risks and develop effective mitigation strategies.
• Good project management skills to manage multiple risk assessments and mitigation projects simultaneously.
• Understanding of relevant regulatory and compliance requirements related to enterprise risk management.
• Demonstrated leadership skills to drive the organization’s risk management efforts and foster a culture of risk-awareness.

 

Enterprise Risk Management Specialist Experience Requirements

Enterprise Risk Management Specialists typically have a minimum of 3 to 5 years of experience in a related field such as risk management, compliance, or internal audit.

This experience often comes from roles like Risk Analyst, Compliance Officer, or Internal Auditor.

Entry-level candidates for this role may have 1 to 2 years of experience, often through an internship or part-time role in an enterprise risk management-related department.

This initial experience would help them understand the basics of risk management, compliance, and governance.

Candidates with more than 3 years of experience often have developed their analytical skills, gained regulatory knowledge and have a comprehensive understanding of enterprise risk management frameworks.

They may have experience in conducting risk assessments, implementing risk management strategies, and communicating risks to stakeholders.

Those with more than 5 years of experience usually have a solid background in developing and maintaining enterprise risk management programs.

They may have some leadership experience, demonstrating their ability to guide teams and manage enterprise-wide risk management initiatives.

Such candidates are usually ready for more senior roles or managerial positions in enterprise risk management.

 

Enterprise Risk Management Specialist Education and Training Requirements

Enterprise Risk Management Specialists typically require a bachelor’s degree in finance, business administration, risk management or a related field.

The fundamental knowledge of business processes, financial forecasting, and strategic planning are essential for this role.

Additionally, they should have a strong understanding of risk management principles and strategies, as well as regulatory and compliance requirements.

Certain roles may require a master’s degree in business administration (MBA) or risk management to offer more in-depth knowledge and expertise in the field.

Knowledge in fields like economics, statistics, and law can also be beneficial.

Certifications, such as the Financial Risk Manager (FRM) certification or the Certified in Risk and Information Systems Control (CRISC) certification, could be advantageous.

These professional credentials demonstrate a high level of competency and commitment to the profession.

On-the-job training is also essential in this role to understand the specific risk landscape of the organization and the industry in which it operates.

Continuous professional development is encouraged to stay up-to-date with the latest risk management strategies and regulations.

 

Enterprise Risk Management Specialist Salary Expectations

An Enterprise Risk Management Specialist earns an average salary of $102,963 (USD) per year.

The salary can vary depending on factors such as the level of experience, certifications, the size of the company, and geographical location.

 

Enterprise Risk Management Specialist Job Description FAQs

What skills does an Enterprise Risk Management Specialist need?

Enterprise Risk Management Specialists need to have excellent analytical and problem-solving skills to identify and assess potential risks.

They should also have strong communication and interpersonal skills, as they will need to explain complex risk assessments to stakeholders and work closely with teams across the organization.

Proficiency in risk analysis software and a solid understanding of business continuity planning and regulatory requirements are also essential.

 

Do Enterprise Risk Management Specialists need a degree?

Typically, a bachelor’s degree in business administration, finance, or a related field is required for an Enterprise Risk Management Specialist position.

Some organizations may prefer candidates with a master’s degree or professional certifications such as Certified Risk Manager (CRM) or Certified in Risk and Information Systems Control (CRISC).

 

What should you look for in an Enterprise Risk Management Specialist resume?

Review an Enterprise Risk Management Specialist’s resume for a relevant degree and any additional certifications in risk management.

They should have experience in assessing and mitigating risks, implementing risk management strategies, and working with risk management software.

Look for specific examples where they have successfully managed risks and contributed to business continuity.

 

What qualities make a good Enterprise Risk Management Specialist?

A good Enterprise Risk Management Specialist is detail-oriented and has excellent problem-solving skills.

They are able to understand and assess complex risk scenarios and make appropriate recommendations.

They are also excellent communicators, capable of explaining complex concepts to non-experts.

Good Enterprise Risk Management Specialists are proactive and continually monitor the business environment for potential risks.

 

Is it difficult to hire an Enterprise Risk Management Specialist?

Hiring an Enterprise Risk Management Specialist can be challenging because it requires finding a candidate with a specific set of skills, including risk assessment, business acumen, and strong communication abilities.

The candidate also needs to have a deep understanding of the industry and regulatory environment.

However, with a well-structured hiring process and a clear understanding of your organization’s needs, it’s possible to find the right fit for the role.

 

Conclusion

So here we are.

Today, we’ve unveiled the true essence of being an Enterprise Risk Management Specialist.

And guess what?

It’s not just about managing risks.

It’s about driving strategic decisions and safeguarding the future of the enterprise, one risk at a time.

Armed with our dependable Enterprise Risk Management Specialist job description template and real-world examples, you’re fully equipped to take the next step.

But why limit yourself?

Explore further with our job description generator. It’s your go-to tool for creating precise job listings or refining your resume to excellence.

Remember:

Every risk managed is a step towards a safer enterprise.

Let’s secure that future. Together.

How to Become an Enterprise Risk Management Specialist (Complete Guide)

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