Recently, we talked about how to start a career in the finance industry and we explained what you could expect to be doing in this challenging and complex field.
Here, we will outline how to land one of the most interesting jobs in the industry, the role of financial risk management analyst.
Whether you are new to the finance world, or you already have experience and are looking to take the next step in your career, this post will help you understand how to build a successful career as a financial risk management analyst.
In this post, we’ll explain what a financial risk management analyst does, why you should think about becoming one, whether or not you need a degree to get hired for this role, and why you might want to consider earning your degree online instead of in-person.
If you’re interested in working with companies and individuals to help them better understand financial risks and assist them in making sound financial decisions, then the career of financial risk management analyst may be the perfect role for you.
After you’ve learned how to become a financial risk management analyst, fill out our information request form to get more information about our online Bachelor’s Degree in Finance, as well as our online Master’s Degree in Finance, which are excellent programs for developing the skills and abilities you’ll need to succeed in this competitive industry.
If you’re ready to get started, submit your application today.
What Do Financial Risk Management Analysts Actually Do?
Financial risk management analysts proactively identify and analyze any potential risks that may threaten the assets, earning abilities or overall success of an organization to provide recommendations on mitigating risks and maximizing company profits.
These professionals tend to work alongside the management team to help them understand the current risk profile of certain assets or operations, and help them make better-informed business decisions.
In this role, you might be asked to complete tasks like:
- Assisting in developing financial and investment strategies that will achieve the company's financial goals while also staying within determined risk tolerances.
- Collecting, maintaining, and analyzing large amounts of data to accurately measure risks and perform risk-reward simulations.
- Performing quantitative analysis using specific financial software to determine risk levels and possible outcomes.
- Presenting current financial risks to senior management, explaining any problems or places of concern, and recommending solutions.
Looking at the list above, it becomes clear that the role of a financial risk management analyst is an incredibly complex and important job, and that to be successful in this role you will first need to develop specific knowledge, skills and abilities.
Is Becoming a Financial Risk Management Analyst a Good Career Option?
Yes, becoming a financial risk management analyst is a great career option for anyone who has strong analytical skills and enjoys working with internal executives as well as outside business partners.
There are three primary reasons to consider getting into this industry:
- The pay is relatively good. According to the Bureau of Labor Statistics (BLS) financial and investment analysis, financial risk specialists, and all other financial specialists earned a median annual wage of $83,660 as of May 2020.
- Demand is expected to rise, with the BLS projecting that employment for financial analysts (a similar job title) will grow by 6% between 2020 and 2030, making it a great industry to get into now since there should be more jobs available in the future.
- You’d get to play a critical role in advising organizational leaders. As a financial risk management analyst, you would serve in a very important capacity, helping senior leaders evaluate risk and determine effective business strategies, making you invaluable to organizational success.
Should you choose to pursue a career as a financial risk management analyst, then it is important to understand that completing a degree will be critical towards launching your career in this challenging, complex, and competitive industry.
Perhaps the best way to increase your odds of success here is to obtain a Bachelor’s Degree in Finance or a Master’s Degree in Finance, as completing these programs would prove to future employers that you have the knowledge, skills, and abilities needed to succeed in this role.
Do I Need a Degree to Get a Job as a Financial Risk Management Analyst?
You may not necessarily need a finance degree to become a financial risk management analyst, but you probably will need a degree in a related field to be considered for this position.
Earning your degree won’t just help you in developing the skills and abilities you need to perform the everyday tasks as a financial risk management analyst, but will also help improve your odds of convincing hiring managers that you’re ready to help their organization.
The responsibility of this job is substantial, and earning your degree will show employers that you have the qualifications, knowledge, and techniques needed to be successful in this difficult role.
When it comes to choosing a degree to pursue, you’ll find two excellent options available from CSU Global, including our online Bachelor’s Degree in Finance and our online Master’s Degree in Finance.
Which Degree Should I Get?
Simply put, you should get the degree that best aligns with your career aspirations.
Deciding whether to get a Bachelor’s or Master’s Degree in Finance is an important decision, and you should start by reviewing your current academic credentials, current financial knowledge, and overall career goals.
Answering these questions will help paint a clearer picture of what you want and what type of education you will need to accomplish your goals. If you are new to the financial industry or risk management and have yet to earn a degree, then starting with a Bachelor’s Degree in Finance is probably your best bet.
For those who already have a bachelor’s degree and a basic understanding of financial concepts, a Master’s Degree in Finance may be a more appropriate fit.
If you’re still unsure on whether a Bachelor’s or Master’s Degree in Finance would be the right fit for you, keep in mind that the bachelor’s degree will focus on the fundamentals of finance, where the master’s degree will dive deeper into more complex financial principles and include training on leadership and management best practices.
For advice on which degree would best suit your needs, feel free to reach out to one of our enrollment counselors, who can help you make the right decision.
What Can I Do With a Bachelor’s Degree in Finance?
Earning your Bachelor’s Degree in Finance will help prepare you for a successful career in a finance-related role, including jobs like:
- Financial Analysts - 2021 Median Pay: $81,410.
- Financial Clerks - 2021 Median Pay: $44,760.
- Budget Analysts - 2021 Median Pay: $79,940
Keep in mind that this is just a very short list of potential career targets and that you’d be able to pursue a much longer list of potential jobs after completing your B.S. in Finance.
While a bachelor’s degree will prepare you for entry and mid-level positions and may very well be the best way to begin your career in finance, getting a master’s degree is a better option for anyone looking to land a more senior, leadership-level role in the field.
What Can I Do With a Master’s Degree in Finance?
Obtaining your Master’s Degree in Finance will prepare you for more management-oriented, senior-level, leadership positions, including roles like:
- Financial Managers - 2021 Median Pay: $131,710
- Personal Financial Advisors - 2021 Median Pay: $94,170
- Chief Executives - 2021 Median Pay: $179,520
The skills and abilities you will gain from earning your Master’s Degree in Finance will allow you to confidently lead teams responsible for making complex financial decisions, allowing you to pursue some of the industry’s best jobs.
If you’re looking to build a successful career in the upper echelons of the finance industry, you’ll need to develop the knowledge required to make important strategic decisions, and earning your Master’s Degree in Finance is the perfect place to start.
Is a Degree in Finance Really Worth it?
Yes, earning your degree in finance is an excellent way to set yourself up for success in the industry and open up career opportunities as a financial risk management analyst.
Earning your degree in finance may require hard work and dedication, but you should look at it as an investment in yourself and your future, as this may be the best possible way to launch or advance your career in the field.
Completing your degree is also the best way to prepare for the challenges and complex problems you will face as you launch your career in risk management, and getting your degree will allow you to take on these tasks with confidence.
Should I Get My Degree in Finance Online?
Yes, whether you decide to get a Bachelor’s or Master’s Degree in Finance, we suggest you earn your degree online instead of in person.
Studying online is a much better option compared to in-person learning, as completing your degree online allows for a higher level of flexibility and the ability to schedule your classes around other important responsibilities.
Should you choose to study with us online at CSU Global, you’ll get to enjoy several excellent benefits, including:
- No requirements to show up at set times or in physical locations.
- Monthly class starts.
- Accelerated courses.
These advantages will be especially useful for anyone who has other commitments such as work or family duties, but who still wants to pursue new education credentials.
If you’ve avoided enrolling in a degree program because you were concerned about time constraints, then you should consider looking into our convenient, flexible, and entirely-online programs.
Why Should I Study Finance at CSU Global?
CSU Global’s Bachelor’s and Master’s Degree Programs in Finance will give you the confidence, skills, and foundational knowledge needed to launch or advance your career as a financial risk management analyst.
Both of our finance programs are regionally accredited by the Higher Learning Commission, and our master’s program is also accredited by the Accreditation Council for Business Schools and Programs (ACBSP).
Reasons to Choose our B.S in Finance Program
Our Bachelor’s in Finance Program will equip you with the essential financial principles you need to become a successful financial risk management analyst, including:
- Creating accurate financial models.
- Properly valuing assets and securities.
- Analyzing various financial risks.
- Learning key financial strategies and forecasting methods.
Completing our Bachelor’s Degree in Finance will ensure you’ve developed all of the skills and abilities needed to enter this challenging, complex industry with confidence.
Reasons to Choose Our M.S in Finance Program
Our Master’s Degree in Finance expands on our bachelor’s program by including more detailed training, knowledge, and skills on financial best practices and principles.
This program will help you develop strong analytical skills and prepare you for advanced leadership positions as a financial risk management analyst.
The program also holds several excellent rankings, including:
- A #1 ranking on 25 Best Online Master’s in Finance for 2020, Best Masters Programs.
- A #1 ranking on Best Online Master's in Finance Programs of 2022, Intelligent.
- A #6 ranking on Best Online Finance Degree Programs of 2022, Intelligent.
Program graduates also report excellent results from the job market, with alumni reporting a median salary that is 6% higher than the national average for all master’s degree holders (BLS, 2019).
Furthermore, you can count on your degree earning the respect of potential employers as CSU Global itself has also earned several impressive rankings, including:
- A #1 ranking for Best Online Colleges & Schools in Colorado from Best Accredited Colleges.
- A #1 ranking for Best Online Colleges in Colorado from Best Colleges.
- A #10 ranking for Best Online Colleges for ROI from OnlineU.
Finally, we offer competitive tuition rates and a Tuition Guarantee which ensures your rate won’t increase as long as you remain enrolled as a student with us.
To get additional details about our 100% online, fully-accredited Bachelor’s Degree in Finance, or our Master’s Degree in Finance please give us a call at (800) 462-7845, or fill out our Information Request Form.
Ready to get started today? Apply now!