What does a Risk Analyst do?

A risk analyst evaluates financial documents, economic conditions and potential clients to help companies determine the level of risk involved in making a particular business decision. They typically work for banks and insurance companies, though any company handling large amounts of money may choose to hire a risk analyst. You can get a job as a risk analyst after college, provided that you have the relevant experience and internship credit, and can progress to higher levels of management throughout your career.

Risk analysts must have a bachelor's degree in statistics, economics, finance or another business-related degree. They should be able to use software programs, including Excel, and complete extensive research to evaluate business decisions. In certain cases, risk analysts may be required to travel to clients' locations for their work, depending on the type of company for which they work.

What responsibilities are common for Risk Analyst jobs?
  • Analyze data to better understand potential risks, concerns and outcomes of decisions
  • Aggregate data from multiple sources to provide a comprehensive assessment
  • Create reports, summaries, presentations and process documents to display results
  • Collaborate with other team members to effectively analyze and present data
  • Develop systems and processes for gathering and storing data for future analytic projects
  • Conduct research into potential clients and understand the risks of accepting each one
  • Identify economic and financial trends that may present a risk to the company
  • Monitor internal and external data points that may affect the risk level of a decision
What are the typical qualifications for Risk Analyst jobs?
  • One to five years of experience as an analyst in a similar company or related field
  • Demonstrated ability to prioritize tasks and meet daily deadlines for projects
  • Strong written and verbal communication skills to inform managers and other stakeholders of results
  • Proficiency in Microsoft Excel, Access, Visio and other analysis programs
  • Ability to manage multiple projects and programs at the same time to complete work
  • Critical thinking skills with the ability to independently solve problems with data
  • Quantitative and analytical skills with a demonstrated ability to understand new analytical concepts
  • Basic knowledge of programming languages, such as SQL and Python
  • Presentation skills, including public speaking and presentation creation using PowerPoint or a similar program
EducationBachelor's Degree
Work/Life Balance
3.8 ★
Salary Range--
Career Opportunity
3.7 ★
Avg. Experience2-4 years

Risk Analyst Salaries

Average Base Pay

$80,000 /yr
Same as national average
Not including cash compensation
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Median: $80K
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Glassdoor Estimated Salary

Risk Analyst Career Path

Learn how to become a Risk Analyst, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

Risk Analyst

Average Years of Experience

0 - 1
2 - 4
5 - 7
Not including years spent in education and/or training
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Risk Analyst Insights

Read what Risk Analyst professionals have to say about their job experiences and view top companies for this career.
Mansfield EnergyMansfield Energy
Senior Manager Risk Analyst
20 Aug 2020

“I have always been treated fairly and given countless opportunities to advance in my career.”

Risk Analyst
13 Feb 2020

“Sometimes there is not enough content to work with so it could be difficult to have a stable salary.”

Optum Global SolutionsOptum Global Solutions
Senior Information Security Risk Analyst
10 May 2022

“Salary may not be as good as market value specially in the information security industry for a regular analyst role.”

Risk Analyst
24 Mar 2020

“It's great being able to work from home during this time and not be worried about Bolt going out of business.”

Senior Risk Analyst
19 Apr 2020

“Amazon is definitely a great company to work but the best thing is it's fun loving environment.. professional yet so cool..”

Risk Analyst
11 Aug 2021

“Scope for learning is high and career growth is good.”

Federal Home Loan Bank of BostonFederal Home Loan Bank of Boston
Senior Risk Analyst
30 Dec 2020

“People are nice and friendly.”

Zions BancorporationZions Bancorporation
Risk Analyst
5 Mar 2021

“I was able to learn industry standard practices and gain a solid understanding of risks and controls.”

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Risk Analyst Interviews

Frequently asked questions about the role and responsibilities of a Risk Analyst

When working as a Risk Analyst, the most common skills you will need to perform your job and for career success are Audit, EXCEL, Risk Assessments, Written Communication and Frameworks.

The most similar professions to Risk Analyst are:
  • Financial Analyst
  • Financial Manager
  • Finance Manager
  • Controller

The most common qualifications to become a Risk Analyst is a minimum of a Bachelor's Degree and an average of 0 - 1 of experience not including years spent in education and/or training.

Related Careers

Financial Analyst
38% skills overlap
Financial Manager
13% skills overlap
Finance Manager
50% skills overlap

Risk Analyst jobs