- Utilise your quantitative skills to assess current risk exposures
- Identify potential risks in your firm and help to carry out steps to mitigate them
- Implement risk policies and procedures which help to define the bank's risk appetite
As a risk analyst, you'll work in a 'middle office' role in an investment bank, analysing your bank's revenue-generating operations to ensure that it is not taking on too much risk. Risk management teams in banks can be very large. As a junior analyst, you'll usually specialise in credit, operational or market risk. As you get more senior, you'll become more involved in helping set the bank's risk policies and appetite.
- Use quantitative analysis to assess your bank's current risk exposure
- Maintain constant communication with the front office teams
- Show an understanding of the bank's business objectives
- Stay up to date with new regulation and financial market trends
You'll most likely work very long hours, and you'll be based in an office.
For this role, you'll need strong numeracy, analytical and and strategy skills; good time management skills; excellent written and verbal communication skills; IT competence and computer ability; and the ability to work well under pressure.
You would normally require a degree in a numerate subject to work in risk. A lot of banks offer graduate schemes and internships. A key tip to get ahead of the competition would be to try get on to an internship programme while you are at university. If you do well on the internship then they will give you a full-time offer to begin once you have completed your studies.
Some risk analysts who display a high quality of work can be transferred into a 'front office' role, and often go on to work for hedge funds in similar roles later on in their careers.