Creating Career Path...

Finding Further Careers...

Risk Manager

View this career for different education levels:

A Risk Manager is responsible for identifying, assessing, and prioritising risks that could affect an organisation. This includes financial, operational, legal, and reputational risks. Risk Managers develop strategies and policies to minimise the impact of these risks, and often work closely with senior management to ensure the organisation remains compliant with regulations. Day-to-day tasks may include carrying out risk assessments, analysing data, creating risk reports, and advising on risk avoidance or reduction. The role requires strong analytical skills, attention to detail, and the ability to communicate complex issues clearly. Risk Managers are crucial in helping organisations make informed decisions and maintain stability, especially in industries like finance and insurance.

Risk Manager

Flag Media

Please select a reason for flagging this content.

📊 Statistics

Average Salary

The average salary for a Risk Manager in the UK is between £40,000 and £75,000 per year, depending on experience and sector.

Job Openings

There are currently over 2,000 Risk Manager roles advertised across the UK in various industries, according to job boards in 2024.

Industry Spread

Risk Managers are employed in sectors such as banking, insurance, healthcare, energy, and government.

🚀 Careers in this path

Flag Media

Please select a reason for flagging this content.

Cyber Risk Analyst

Focuses on identifying and managing risks related to cyber security threats and data breaches within organisations.

Flag Media

Please select a reason for flagging this content.

Operational Risk Officer

Specialises in assessing and mitigating risks that arise from day to day business operations in sectors such as banking or manufacturing.

Financial Risk Modeller

Uses mathematical models to predict and manage financial risks affecting investments, loans, and other banking activities.

Build a Strong Educational Foundation

Achieve Good GCSEs and A Levels

Focus on subjects such as maths, business studies, or economics at GCSE and A level.

Having strong grades in relevant subjects will help you access higher education and demonstrate your analytical skills. Maths and business studies are especially useful for understanding financial concepts and developing problem-solving abilities.

Pursue a University Degree

Obtain a degree in risk management, finance, business, economics, or a related subject.

Many Risk Managers hold degrees in finance, business, or economics. Some universities offer specific courses in risk management. A degree will provide you with the theoretical knowledge and analytical skills needed for the role. Consider courses accredited by relevant professional bodies.

Gain Practical Experience and Qualifications

Secure an Internship or Entry-Level Role

Find work experience in finance, insurance, or risk departments.

Internships or entry-level jobs such as risk analyst, insurance underwriter, or compliance assistant will give you hands-on experience. This practical knowledge is highly valued by employers and helps you understand how risk is managed in real-world settings.

Obtain Professional Qualifications

Study for professional qualifications such as IRM, CIRM, or qualifications from the Chartered Insurance Institute.

Professional qualifications like the Institute of Risk Management IRM Certificate or Diploma, or Chartered Insurance Institute CII credentials, are highly respected in the industry. They demonstrate your commitment and expand your expertise in risk management.

Develop Specialist Skills and Progress Your Career

Build Technical and Soft Skills

Develop skills such as data analysis, communication, and decision-making.

Risk Managers need to analyse data, communicate risks clearly to stakeholders, and make informed decisions quickly. Consider training in data analysis tools like Excel or specialist risk software. Strong interpersonal and presentation skills are also vital for success.

Seek Senior Positions or Specialise

Progress to senior roles or specialise in areas such as cyber risk, operational risk, or financial risk.

As you gain experience, look for opportunities to take on more responsibility or to specialise in a particular type of risk. Senior Risk Managers or Heads of Risk often lead teams and develop company-wide strategies. Specialisation can open doors to high-demand sectors, such as cybersecurity or compliance.

🎯 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.

Career Progressions

No career progressions found for

Sample Qualifications

A Risk Manager and a Bank Manager both require a strong understanding of financial risk assessment, compliance, and strategic planning. Both roles involve overseeing financial operations, managing risk exposure, and ensuring organisational stability within a regulated environment.

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.

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]

Copyright 2025 Developing Experts, All rights reserved.