Enterprise Risk Manager Job Description [Updated for 2025]

In the dynamic world of business, the role of the Enterprise Risk Manager has never been more crucial.
As businesses evolve and expand, the demand for skilled professionals who can identify, manage, and mitigate potential threats to a company’s success is escalating.
But let’s delve deeper: What’s truly expected from an Enterprise Risk Manager?
Whether you are:
- A job seeker trying to understand the core of this role,
- A hiring manager drafting the profile of the perfect candidate,
- Or simply fascinated by the intricacies of risk management,
You’ve landed in the right spot.
Today, we present a customizable Enterprise Risk Manager job description template, designed for seamless posting on job boards or career sites.
Let’s dive right in.
Enterprise Risk Manager Duties and Responsibilities
Enterprise Risk Managers help companies identify and manage potential risks that could hinder the achievement of their business goals.
They develop risk management strategies and ensure the company is in compliance with all regulatory requirements.
Their duties and responsibilities include:
- Identifying potential risks within an organization and implementing plans to mitigate those risks
- Developing and implementing risk management policies and protocols
- Conducting detailed risk assessments and presenting risk management strategies to company stakeholders
- Monitoring and analyzing risks within the company’s business units and reporting on these risks to company executives
- Coordinating with other managers to ensure compliance with risk management strategies
- Reviewing legal documentation to ensure compliance with risk management strategies
- Providing training to company staff about risk management strategies and practices
- Keeping abreast of industry changes and developments that could impact the company’s risk profile
- Assisting with business continuity planning and disaster recovery strategies
- Managing relationships with risk-related vendors and ensuring they meet contractual obligations
Enterprise Risk Manager Job Description Template
Job Brief
We are seeking a highly-analytical Enterprise Risk Manager to anticipate and mitigate potential threats to our company.
You will be responsible for identifying possible risks, developing risk management plans, implementing risk controls, and advising on potential risk impacts.
The successful candidate will have a strong understanding of risk assessment methods and industry regulations.
They will also have excellent analytical and decision-making skills.
Responsibilities
- Identify, assess and mitigate relevant risks that could impact the company’s reputation, safety, security, and financial prosperity
- Develop and implement risk management policies and protocols
- Prepare reports that outline the company’s financial situation in areas of risk
- Conduct policy and compliance audits to ensure all departments follow the set risk management procedures
- Create contingency plans to manage crises
- Advise on potential risk impacts on business operations
- Monitor risk management activities and make necessary changes when needed
- Collaborate with different departments to ensure risk management is comprehensive
Qualifications
- Proven work experience as an Enterprise Risk Manager or similar role
- Knowledge of risk assessment and control
- Experience with auditing and reporting procedures
- Strong analytical skills
- Proficiency in risk management software
- Familiarity with regulatory requirements
- Excellent decision-making skills
- BSc degree in Business, Finance, Risk Management or relevant field
Benefits
- 401(k)
- Health insurance
- Dental insurance
- Retirement plan
- Paid time off
- Professional development opportunities
Additional Information
- Job Title: Enterprise Risk Manager
- Work Environment: Office setting with occasional travel for audits or meetings. The role may involve dealing with stressful situations such as crises.
- Reporting Structure: Reports to the Director of Risk Management.
- Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
- Pay Range: $75,000 minimum to $130,000 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 Manager Do?
An Enterprise Risk Manager is a key role within a corporation, typically part of the executive management team.
They are responsible for identifying, assessing, monitoring, and mitigating risks that could interfere with the company’s objectives and goals.
Enterprise Risk Managers work closely with departments across the organization, such as finance, operations, legal, and IT to understand potential risks in their respective areas.
They are also responsible for creating risk management processes and procedures.
They regularly conduct risk assessments and audits to detect potential threats, which may include financial, operational, reputational, or cybersecurity risks.
They then develop risk mitigation strategies and procedures to avoid, decrease, or transfer the risks that could harm the company.
Enterprise Risk Managers also play an essential role in crisis management.
When a risk becomes a problem, they are involved in managing the situation, mitigating the impact, and implementing measures to prevent recurrence.
They are also responsible for communicating risk policies and processes to all staff, stakeholders, and clients, and conducting training to increase risk awareness within the organization.
Furthermore, they ensure compliance with regulatory requirements related to risk management, and they report to the board of directors or other top management about the company’s risk profile and activities.
Enterprise Risk Manager Qualifications and Skills
An Enterprise Risk Manager should have the skills and qualifications that align with your job description, such as:
- Strong analytical skills to effectively identify potential risks and develop strategies to mitigate them.
- Expertise in risk assessment, risk management and risk mitigation to ensure the overall health of the enterprise.
- Excellent communication skills to clearly and effectively communicate risk assessments and strategies to key stakeholders.
- Strong leadership and team management skills to lead and guide a team of risk management professionals.
- Sound knowledge of the industry and relevant regulations to ensure all risk management strategies are in compliance with necessary requirements.
- Ability to make informed business decisions, considering potential risks and benefits, using effective decision-making skills.
- Detail-oriented nature and ability to work with complex data and statistical models to identify and monitor risks.
- Understanding of various risk management software and tools to effectively manage and track risks.
- Project management skills for organizing and managing risk-related projects within the organization.
Enterprise Risk Manager Experience Requirements
Enterprise Risk Managers are expected to have a solid educational background with a Bachelor’s degree in finance, business, economics, or a similar field.
They also need a minimum of 5 to 7 years of experience in risk management, preferably in a large corporate setting.
Entry-level candidates may have experience in risk assessment or risk management roles, often obtained through internships or part-time roles in corporate finance or business strategy departments.
They may also have gained relevant experience in roles such as Financial Analyst, Business Analyst, or Risk Management Associate.
Candidates with 3 to 5 years of experience are expected to have developed a deep understanding of risk management principles and practices, often gained through roles such as Risk Analyst, Compliance Officer, or Risk Management Specialist.
Those with more than 7 years of experience are often considered for senior roles and may have some leadership experience in their background.
They may have held roles such as Senior Risk Analyst, Risk Management Supervisor, or Head of Risk Management.
Certifications, such as the Financial Risk Manager (FRM) certification or the Professional Risk Manager (PRM) certification, are also highly valuable in this field.
The ability to demonstrate advanced knowledge of enterprise risk management principles, financial regulations, and industry trends is crucial to this role.
Enterprise Risk Manager Education and Training Requirements
Enterprise Risk Managers typically have a bachelor’s degree in Business, Finance, Economics, or a related field.
A fundamental understanding of risk management principles and practices is crucial.
In addition to this, having a Master’s Degree in Risk Management or a related field is highly desirable.
This advanced education can provide a deeper understanding of risk identification, assessment, and mitigation strategies.
Professional certifications such as Certified Risk Manager (CRM), Financial Risk Manager (FRM), or Professional Risk Manager (PRM) are also highly valued in this role as they validate a professional’s expertise in risk management.
Experience with risk management software and statistical analysis tools is also necessary.
Familiarity with regulations and industry standards relating to risk management can be beneficial.
Enterprise Risk Managers should also have strong leadership skills, as they are often tasked with developing and implementing risk management policies across an entire organization.
Ongoing professional development and staying abreast of new regulations and industry trends is also important in this role.
Many professionals in this field attend workshops, seminars, and training programs to continuously update their skills and knowledge.
Enterprise Risk Manager Salary Expectations
An Enterprise Risk Manager earns an average salary of $127,120 (USD) per year.
The actual compensation can fluctuate depending on their level of experience, industry, and geographical location.
Enterprise Risk Manager Job Description FAQs
What skills does an Enterprise Risk Manager need?
Enterprise Risk Managers require a strong analytical mindset to identify and manage potential risks that could negatively impact the organization’s financial and operational standing.
They should possess strong communication skills to effectively convey risks to stakeholders and discuss mitigation strategies.
Additionally, they need problem-solving skills to devise and implement plans to address identified risks.
Do Enterprise Risk Managers need a specific degree?
Enterprise Risk Managers typically need a bachelor’s degree in finance, business management, or a related field.
Many organizations prefer candidates with a master’s degree in business administration (MBA) or risk management.
Certain professional certifications like Certified Risk Manager (CRM) or Certified in Risk and Information Systems Control (CRISC) may also be required or preferred.
What should you look for in an Enterprise Risk Manager resume?
A good Enterprise Risk Manager resume should demonstrate experience in risk management, strategic planning, and compliance.
Look for a strong educational background in relevant fields and any risk management certifications.
Experience with data analysis and decision-making under uncertainty is a plus.
The resume should also highlight the candidate’s ability to communicate effectively and manage multiple tasks and projects.
What qualities make a good Enterprise Risk Manager?
An effective Enterprise Risk Manager is proactive and can anticipate potential risks before they occur.
They have excellent analytical skills to identify and evaluate risk and strong decision-making abilities to choose the best course of action.
They are also good communicators, capable of clearly explaining complex risk scenarios to non-experts and persuading others to take necessary actions.
What is the career progression for an Enterprise Risk Manager?
Enterprise Risk Managers can progress to senior management roles such as Chief Risk Officer or Director of Risk Management.
They may also diversify into specialized areas like operational risk, financial risk, or strategic risk management.
Continuous professional development and earning advanced certifications can further enhance career prospects.
What are the main responsibilities of an Enterprise Risk Manager?
The primary responsibilities of an Enterprise Risk Manager are identifying potential risks that could impact the organization, analyzing these risks in context of the business, and implementing strategies to manage them.
They also often coordinate with other departments to ensure compliance with risk management protocols and might be involved in developing organizational policies and procedures related to risk management.
Conclusion
And there you have it.
Today, we’ve unraveled the intricacies of what it truly means to be an Enterprise Risk Manager.
But guess what?
It’s not just about crunching numbers.
It’s about shaping the fiscal landscape, one risk assessment at a time.
With our premier Enterprise Risk Manager job description template and insightful real-world examples, you’re ready to take that leap.
But why end your journey there?
Venture further with our job description generator. It’s your ultimate resource for meticulously crafted listings and refining your resume to absolute precision.
Remember:
Every risk analysis is a piece of the larger business puzzle.
Let’s shape that future. Together.
How to Become an Enterprise Risk Manager (Complete Guide)
Weird Work: Unusual Jobs That Are Surprisingly Real
Job Market Magic: Careers That Are in Hot Demand
Free Time Favorites: The Most Flexible Jobs for Time-Rich Lives