Creating Career Path...

Finding Further Careers...

Finance & Accounting

Risk Manager

View this career for different education levels:

Primary Secondary Post-16

A risk manager is responsible for identifying, evaluating, and mitigating risks that could impact an organisation. This could include financial risks, operational risks, reputational threats, or compliance issues. Risk managers work across many sectors but are especially common in finance, insurance, and large corporations. They analyse data, create risk management policies, and advise senior leaders on strategies to minimise losses. The role often involves preparing reports, conducting audits, and ensuring compliance with legal and regulatory requirements. Strong analytical, communication, and problem-solving skills are essential for this career, as is an eye for detail and the ability to foresee potential issues before they arise.

Risk Manager

Flag Media

Please select a reason for flagging this content.

📊 Statistics

Average Starting Salary

Risk managers in the UK typically start with salaries around £35,000 to £45,000 per year.

Experienced Salary Range

With experience, risk managers can earn between £50,000 and £90,000 annually, with heads of risk earning over £100,000.

Job Availability

There are over 4,500 risk management positions advertised annually in the UK, with strong demand in financial services, insurance, and large corporations.

🚀 Careers in this path

Flag Media

Please select a reason for flagging this content.

Financial Risk Analyst

Specialises in identifying and managing financial risks within banks, investment firms, or insurance companies, focusing on market, credit, or operational risks.

Flag Media

Please select a reason for flagging this content.

Cyber Risk Consultant

Works with organisations to assess and mitigate risks related to cyber security threats and data breaches.

Health and Safety Risk Assessor

Focuses on evaluating workplace environments to identify health and safety risks and recommending measures to ensure compliance with safety regulations.

Build a Strong Educational Foundation

Achieve GCSEs and A-levels

Focus on subjects like Mathematics, Business Studies, and Economics at GCSE and A-level.

A solid understanding of maths and business is important for risk management. These subjects help develop analytical and problem-solving skills that are essential for identifying and assessing risks. Good grades in these areas will also prepare you for further study at university.

Pursue a Relevant Degree

Apply for a university degree in a relevant subject such as Risk Management, Finance, Business, or Economics.

Most risk management roles require a degree. Universities in the UK offer specific courses in risk management or more general courses in finance and business that include risk modules. Consider universities that offer work placements or sandwich years to gain practical experience.

Gain Practical Experience

Apply for Internships or Work Placements

Seek internships or summer placements in finance, insurance, or risk departments.

Work experience helps you understand the day-to-day responsibilities of a risk manager and builds your CV. Many large companies offer structured internship programmes for students. Getting hands-on experience can also lead to job offers after graduation.

Develop Analytical and IT Skills

Enhance your skills in data analysis, spreadsheets, and relevant risk assessment software.

Risk managers use a range of analytical tools and software. Becoming proficient in Excel and learning about risk modelling tools will make you more employable. You can take short courses or online tutorials to improve these skills.

Start Your Career and Progress

Apply for Graduate Roles

Look for entry-level jobs such as Risk Analyst, Junior Risk Officer, or Graduate Trainee in risk management.

Graduate schemes in banks, insurance companies, and large corporations often offer structured training and the chance to specialise in risk management. These roles provide valuable on-the-job training and exposure to real-world risk scenarios.

Pursue Professional Qualifications

Work towards certifications like IRM, CIRM, or join professional bodies such as the Institute of Risk Management.

Professional qualifications enhance your knowledge and credibility in the field. The Institute of Risk Management (IRM) offers widely recognised qualifications. Attending conferences and networking events can also help you keep up with industry trends and progress in your career.

Advance to Senior Roles

Gain experience and take on more responsibility to progress to positions such as Senior Risk Manager or Head of Risk.

With experience, you can move into more senior roles, leading teams and developing risk policies for entire organisations. Continued professional development and networking are key to advancing your career.

🎯 View Apprenticeships

Explore relevant apprenticeships that can help you kickstart your career in Risk Manager. Apprenticeships offer hands-on experience and training while earning a wage.

🎓 View Apprenticeships

Career Progressions

No career progressions found for

Sample Qualifications

A Risk Manager and a Bank manager both require a strong understanding of financial risks, regulatory compliance, and risk assessment techniques to ensure organisational stability. Both roles involve monitoring potential hazards, implementing risk mitigation strategies, and making informed decisions to protect the organisation's assets and reputation.

How to become

You can get into this job through:

  • a university course
  • a college course
  • an apprenticeship
  • working towards this role

University

You could take a degree before applying for a management trainee scheme. Most degrees are acceptable, though you may gain relevant skills from subjects like:

  • management
  • accounting
  • economics
  • finance
  • law
  • marketing
  • maths

You could get work experience during your degree through:

  • taster days or work shadowing opportunities
  • banking vacation schemes
  • spring or summer internships
  • a year in industry placement

Work experience will give you a head start when applying for trainee manager jobs when you graduate.

Entry requirements

You'll usually need:

  • 2 to 3 A levels, or equivalent, for a degree

More Information

College

You could do a course at college that may give you some of the skills and knowledge to apply for trainee bank manager positions.

For example you could do a T Level in Finance.

Entry requirements

You'll usually need:

  • 4 or 5 GCSEs at grades 9 to 4 (A* to C), or equivalent, including English and maths for a T Level

More Information

Apprenticeship

You could join a bank as an apprentice and work your way up to management positions.

Relevant apprenticeships include the:

  • financial services administrator advanced apprenticeship
  • senior financial services customer adviser advanced apprenticeship
  • financial services professional higher apprenticeship
  • chartered manager degree apprenticeship

If you want to work in commercial or investment banking you could do a Level 7 senior investment and commercial banking professional, higher apprenticeship.

Entry requirements

You'll usually need:

  • 5 GCSEs at grades 9 to 4 (A* to C), or equivalent, including English and maths, for an advanced apprenticeship
  • 4 or 5 GCSEs at grades 9 to 4 (A* to C) and A levels, or equivalent, for a higher or degree apprenticeship

More Information

Work

You could apply to join a bank in a customer service job and work your way up.

You'll usually need a least 5 GCSEs at grades 9 to 4 (A* to C), including English and maths, or equivalent qualifications.

You could take further training on the job while you study for management qualifications.

More Information

Further information

You can find more advice about training and working in banking from the:

Interested in More Career Paths?

Explore other careers or use our AI to discover personalised paths based on your interests.

Browse All Careers Generate New Career Path

Stay connected

Join our newsletter to stay up to date on features and releases

Address
Developing Experts Limited
Exchange Street Buildings
35-37 Exchange Street
Norwich
NR2 1DP
UK

Phone
01603 273515

Email
[email protected]

Developing Experts

LessonsAboutResearchReportingPlans & Pricing

Legal

GDPRPrivacy PolicyTerms and ConditionsCookie Policy

Contact Us

Get in touchRequest SubscriptionChildren's CodeAbout UsCareers

Copyright 2025 Developing Experts, All rights reserved.