A risk manager uses statistical tools and methods to help senior managers in identifying, appraising and monitoring risks that transpire within a corporation's business actions. Doing this aids in reducing the inevitable losses of the company. The risks that are being avoided may be a result of human error or technology malfunction. Alternatively, they may be linked to financial activities such as market risks.
A company will employ a risk manager to establish controls and guidelines in order to avoid such risks. Once guidelines are established, the position holder is responsible for ensuring that those controls comply with corporate operational policies as well as compliance risk management policies.
To be accepted into the role the employee should have a master’s degree in a business field or in mathematics. An employee undertaking this role can expect to earn C
$58,000 to
$103,000, with possible bonuses of between C
$3,000 and C
$19,000, dependent on the candidate’s qualifications and skills.