Risk Advisory Specialist Job Description [Updated for 2025]

In today’s uncertain world, the role of Risk Advisory Specialists is more crucial than ever.

As businesses navigate complex environments, the demand for skilled professionals who can identify, assess, and mitigate risks grows stronger.

But what does a Risk Advisory Specialist truly do?

Whether you are:

• A job seeker seeking to understand the core responsibilities of this role,
• A hiring manager drafting the profile of the ideal candidate,
• Or simply curious about the multifaceted world of risk advisory,

You’ve come to the right place.

Today, we present a fully customizable Risk Advisory Specialist job description template, designed for effortless posting on job boards or career sites.

Let’s dive right in.

Risk Advisory Specialist Duties and Responsibilities

Risk Advisory Specialists use their expert knowledge in risk management and advisory to help organizations identify, evaluate, mitigate and monitor risk-related issues.

Their primary duties and responsibilities include:

• Analyzing and identifying potential risks that could hinder the reputation, safety, security, and financial prosperity of the organization
• Developing and implementing risk management controls and systems
• Designing or implementing risk mitigation strategies
• Advising organization’s leadership on any potential risks to the profitability or existence of the company
• Conducting policy and compliance audits, which will include liaising with internal and external auditors
• Conducting risk assessments on a regular basis, which involves analytical skills, an in-depth understanding of the market and the ability to stay updated with any financial changes
• Presenting risk reports to the board of directors or risk committee
• Maintaining a current understanding of industry trends and technical developments that affect target markets
• Developing risk management strategies and processes to manage risks associated with new initiatives, projects or processes

 

Risk Advisory Specialist Job Description Template

Job Brief

We are seeking a detail-oriented Risk Advisory Specialist to identify and mitigate potential risks within our organization.

You will be responsible for developing and implementing risk management strategies, ensuring compliance with regulations, and providing advice on risk management issues.

The ideal candidate will have a deep understanding of risk assessment methodologies, excellent analytical skills, and the ability to foresee potential future risks.

 

Responsibilities

• Identify and evaluate potential risks within the organization
• Develop and implement risk management policies and protocols
• Monitor and analyze risk management issues
• Provide advice on risk management and risk reduction
• Ensure compliance with relevant regulations and standards
• Prepare risk management reports and presentations
• Coordinate with various teams to identify and mitigate risks
• Stay updated on industry trends and regulations related to risk management

 

Qualifications

• Proven experience as a Risk Advisory Specialist or similar role
• Deep understanding of risk assessment methodologies
• Strong analytical skills and attention to detail
• Knowledge of risk management software and databases
• Excellent communication and presentation skills
• Proficiency in MS Office, particularly Excel and PowerPoint
• BSc/BA in Business, Finance, Risk Management or relevant field
• Certification as a Risk Management Professional (RMP) is a plus

 

Benefits

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

 

Additional Information

• Job Title: Risk Advisory Specialist
• Work Environment: This role typically works in an office setting, but remote work options may be available. Occasional travel may be required.
• Reporting Structure: Reports to the Risk Management Director.
• Salary: Compensation is commensurate with experience and qualifications.
• Pay Range: $75,000 minimum to $110,000 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 a Risk Advisory Specialist Do?

Risk Advisory Specialists typically work for corporations, consulting agencies, or financial institutions.

They can also operate as independent consultants.

They work closely with various stakeholders within an organization, including management teams, to identify, assess and manage potential risks that could hinder the achievement of the organization’s objectives.

Their job involves performing risk assessments, analyzing current risk management strategies, developing contingency plans, and implementing risk mitigation tactics.

They usually have to understand complex business processes and identify areas where the risk might be high.

Risk Advisory Specialists also monitor changes in the business environment and the emergence of new risks, and implement changes to risk management strategies accordingly.

They are responsible for creating and presenting risk reports, tailored to the relevant audience.

These reports outline the effective strategies and the risks associated with each aspect of the organization.

They might also be involved in ensuring the organization’s compliance with regulatory requirements and standards.

This can include running compliance audits and training staff on risk management and compliance procedures.

 

Risk Advisory Specialist Qualifications and Skills

A proficient Risk Advisory Specialist should possess the skills and qualifications that align with the job requirements, such as:

• Strong analytical skills to assess potential risks and formulate preventive strategies.
• Proficiency in risk management software and technologies to analyse data and generate risk assessment reports.
• Excellent communication skills to inform, advise, and present complex risk-related information to clients and stakeholders.
• Deep understanding of industry regulations and legal guidelines related to risk management to ensure company-wide compliance.
• Strong problem-solving skills to address and mitigate potential risk factors in a timely and effective manner.
• Attention to detail to ensure all potential risks are identified and addressed.
• Interpersonal skills to effectively collaborate with other team members, stakeholders, and clients to manage risks.
• Organizational skills to manage multiple projects at once, while ensuring all risk management strategies are effectively implemented and monitored.
• Knowledge of financial forecasting and risk management tools to accurately predict potential risks and develop effective mitigation strategies.

 

Risk Advisory Specialist Experience Requirements

Entry-level Risk Advisory Specialists typically have 1-2 years of experience, often acquired through internships or part-time roles in risk management or similar fields.

This may also include roles like Risk Analyst, Compliance Analyst, or Audit Associate, allowing them to gain practical experience in identifying and managing potential risks.

Candidates with 3-5 years of experience often develop their risk management skills and knowledge in entry-level Risk Advisory roles.

They may have a broad understanding of risk assessments, regulatory compliance, and internal audits, and may be proficient in using risk management software.

Those with more than 5 years of experience may have substantial industry-specific knowledge and may have managed complex risk assessments and mitigation strategies.

They may also have experience leading a team of risk management professionals, making them suitable for managerial or team lead positions in risk advisory.

In addition to work experience, Risk Advisory Specialists generally have a bachelor’s degree in finance, business, or a related field.

Advanced degrees or certifications like Certified Risk Manager (CRM) or Certified in Risk and Information Systems Control (CRISC) can be beneficial and may be required for higher-level positions.

 

Risk Advisory Specialist Education and Training Requirements

Risk Advisory Specialists generally hold a bachelor’s degree in finance, accounting, business administration, or a related field.

To excel in this role, they need a solid understanding of risk management principles and practices, as well as proficiency in risk assessment and control procedures.

Many employers prefer candidates with a master’s degree in risk management, business, finance, or related disciplines.

This advanced degree equips them with a deeper understanding of risk advisory principles and practices, making them well-positioned to manage complex risk issues.

Professional certification is also highly valued in this role.

Certifications such as Certified in Risk and Information Systems Control (CRISC), Certified Internal Auditor (CIA), or Financial Risk Manager (FRM) provide evidence of the specialist’s competency in the field.

Risk Advisory Specialists should also have relevant work experience in risk management or a related field.

This experience provides practical insights into the dynamics of risk management, which is invaluable in a risk advisory role.

To stay updated in this ever-evolving field, Risk Advisory Specialists are encouraged to pursue continuous professional development through workshops, seminars, and courses.

This not only enhances their skills but also demonstrates their dedication to staying current in their field.

 

Risk Advisory Specialist Salary Expectations

A Risk Advisory Specialist can expect to earn an average salary of $79,629 (USD) per year.

This salary can vary greatly based on factors such as level of experience, specific skills, certification, location, and the size and industry of the employer.

 

Risk Advisory Specialist Job Description FAQs

What skills are required for a Risk Advisory Specialist?

Risk Advisory Specialists should possess strong analytical skills as they need to thoroughly understand business processes and identify potential risks.

They should have excellent communication and presentation abilities to effectively convey risk analyses and recommendations to stakeholders.

They should also have a good understanding of risk management methodologies and be able to use various software applications used in risk management.

 

Do Risk Advisory Specialists need a degree?

A bachelor’s degree in finance, business, or related fields is often required for a Risk Advisory Specialist role.

Some employers prefer candidates with a master’s degree in business administration or finance.

Additionally, professional certifications such as Certified Internal Auditor (CIA) or Certified Public Accountant (CPA) can enhance job prospects.

 

What should you look for in a Risk Advisory Specialist resume?

A Risk Advisory Specialist’s resume should highlight their expertise in risk management, compliance, and auditing.

It should demonstrate their knowledge of regulatory requirements and standards.

Also, experience in areas such as financial analysis, project management, or business strategy can indicate a well-rounded candidate.

Pay close attention to their analytical and problem-solving skills, as well as their ability to communicate complex concepts clearly.

 

What qualities make a good Risk Advisory Specialist?

A good Risk Advisory Specialist needs to be highly analytical and detail-oriented, with the ability to process complex information and make data-driven decisions.

They need to have excellent interpersonal skills, as they will often need to collaborate with various departments and communicate risk assessments to management.

Integrity and professional ethics are vital, as they are entrusted with sensitive business information.

 

Is it difficult to hire Risk Advisory Specialists?

Due to the specialized nature of the role, hiring Risk Advisory Specialists can be challenging.

These professionals need to have a unique combination of skills, including knowledge of finance, business operations, risk management methodologies, and regulatory compliance.

In addition, they need to be able to think strategically, communicate effectively, and handle pressure well.

However, with a well-thought-out recruitment strategy and attractive compensation packages, you can attract talented Risk Advisory Specialists.

 

Conclusion

And there you have it.

Today, we’ve shed light on what it really means to be a Risk Advisory Specialist.

Surprised?

It’s not just about mitigating risk.

It’s about steering the ship of a company through uncertain waters, one decision at a time.

With our comprehensive Risk Advisory Specialist job description template and real-life scenarios, you’re ready to take the leap.

But why limit yourself?

Dig deeper with our job description generator. It’s your stepping stone to creating impeccable job listings or refining your resume to precision.

Remember:

Every risk management decision contributes to the overall success of the company.

Let’s navigate the future. Together.

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