Ostroff, Fair and Company
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What qualifications does a Risk Analysis in a bank need?


Hi, i'm interested to work in a bank as a risk analysis. Anyone care to explain what are the qualifications needed?

And what exactly does a risk analyst do?

Risk analysts identify and analyse the areas of potential risk threatening the assets, earning capacity or success of organizations in the industrial, commercial or public sector. They are sometimes called risk managers.

There are high degrees of specialisation within the profession. Risk analysts may work in sales, origination, trading, marketing and private banking, specialising in:

* credit;
* market;
* operational;
* product risk;
* reputational.

Financial institutions are required to manage market and credit risks daily.

There is a growing sector called political risk analysis, where analysts forecast how safe it is to invest in regions of the world, depending on the political and economic situation.

A risk analyst's role is to formalise the process of risk management within an organisation. This involves business decision-making and enabling the process of risk taking.

Key elements of the job include:

* managing resources wisely;
* evaluating sources of action and proposed business decisions;
* protecting the organisation's assets and public image.

Work activities very much depend on the nature and business of the employer, but tasks typically involve:

* visiting sites to assess risks;
* conducting research to assess the severity of risk;
* conducting statistical analysis to evaluate risk;
* making recommendations to reduce/control risk, which may involve an insurance strategy, and which will protect against residual risk;
* reviewing legal documents;
* presenting ideas via reports and presentations, outlining findings and making recommendations for improvements;
* working with traders to calculate the risk associated with specific transactions;
* purchasing insurance;
* analysing a bank's market position and running figures through complex modelling techniques to find value at risk (VAR) measurements;
* carrying out quantitative analysis;
* using financial packages and software, including portfolio management software;
* studying government legislation, which may affect a company, and advising on compliance;
* developing contingency plans to deal with emergencies;
* publishing and updating company documents as to what to do in the event of an emergency. Source(s): http://www.prospects.ac.uk/cms/showpage/...
Check out Professional Risk Manager program of www.prmia.org
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