Advise on risk management

Provide advice on risk management policies and prevention strategies and their implementation, being aware of different kinds of risks to a specific organisation.

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strategise on accident management
propose on accident management
recommend on accident management
suggest on risk management
recommend on risk management
strategise on risk management
suggest on accident management

skill/competence

cross-sector

Advise on risk management is an essential skill of the following occupations:

Credit analyst: Credit analysts investigate credit applications from customers and evaluate if the applications comply with regulations and guidelines of the financial loan-granting institution. On the basis of credit analyses they advise financial institutions whether customers are loan worthy. They perform tasks such as collecting data on the loan applicant, aquire additional information from other departments or institutions and indicating what sort of agreements the financial institution should reach with the credit applicant. Credit analysts also follow up on the development of the credit portfolio of clients.
Police commissioner: Police commissioners supervise an entire police department by monitoring and regulating the administrative and operational activities of a police department, as well as developing policies and procedural methods. They are responsible for the cooperation between the various divisions in the department, and overseeing the employees’ performance.
Healthcare inspector: Healthcare inspectors visit healthcare facilities to ensure proper care is given to all patients in accordance with legal requirements. They also inspect if equipment, processes and staff operate adequately to prevent the spreading of infections and diseases.
Occupational health and safety inspector: Occupational health and safety inspectors perform workplace audits to ensure compliance with government and environment legislation. They also investigate work accidents. Occupational health and safety inspectors interview employees to ensure the work environment is compliant with health and safety rules, inspect the physical work site and analyse legal paperwork.
Emergency response coordinator: Emergency response coordinators analyse potential risks such as disasters and emergencies for a community or institution and develop a strategy for reacting to these risks. They outline guidelines for the response to an emergency in order to decrease the effects. They educate the parties at risk on these guidelines. They also test response plans and ensure that the necessary supplies and equipments are in place in compliance with health and safety regulations.
Health and safety officer: Health and safety officers execute plans for the improvement of work environments and cultures. They assess risks and interview employees to ensure the work environment is compliant with health and safety rules, as well as ensuring the interaction within the workplace occurs in a positive and productive manner. If employed in a healthcare facility the health and safety officer has to investigate infections spreading across a facility and advice all employees how to combat and prevent infections. Furthermore health physics is applied at facilities where people are exposed to ionizing radiation such as nuclear power plants and research institutions.
Financial risk analyst: Financial risk analysts correctly identify and review potential risk areas threatening the assets or capital of organisations. They specialise in either credit, market, operational or regulatory risk analysis. They use statistical analysis to evaluate risk, make recommendations to reduce and control risk and review documentation for legal compliance.
Insurance risk consultant: Insurance risk consultants prepare reports for insurance underwriters. For this purpose, they undertake surveys in order to determine the potential financial risk for personal products, properties or sites.
Political affairs officer: Political affairs officers analyse developments in foreign politics and other policy matters, monitor conflicts and consult on mediation measures, as well as other developmental strategies. They write reports to ensure communication with governmental bodies, and develop policies and implementation methods.
Embassy counsellor: Embassy counsellors supervise specific sections in an embassy, such as economics, defence or political affairs. They perform advisory functions for the ambassador, and perform diplomatic functions in their section or specialty. They develop policies and implementation methods and supervise the embassy section’s staff.
Risk manager: Risk managers identify and assess potential threats and risks to a company, and give advice on how to deal with them. They create preventive plans to avoid and reduce risks, and put plans in place for when the company is threatened.
Credit risk analyst: Credit risk analysts manage individual credit risk and care for fraud prevention, business deal analysis, legal documents analysis and recommendations on the level of the risk.
Asset manager: Asset managers invest the money of a client into financial assets, through vehicles such as investment funds or management of individual clients’ portfolios. This includes the management of the financial assets, within a given investment policy and risk framework, the provision of information, the assessment and monitoring of risks.

Advise on risk management is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.

Actuarial consultant: Actuarial consultants analyse, manage and provide guidance on financial impact of risks. They can work in fields related to insurance, pension, investment, banking, healthcare etc. Actuarial consultants apply technical and statistical models and theories to give strategic, commercial, and financial advice.
Quantity surveyor: Quantity surveyors have under their helm complete management of the cost involved in building and construction projects from the inception of the project until the delivery. They strive for an efficient use of the resources whilst keeping an eye on quality, quality standards, and client’s requirements.
Corporate social responsibility manager: Corporate social responsibility managers monitor the practices of organisations and companies with regard to ethics and impact on the larger community. They advise on social responsibility and sustainability matters depending on the company’s needs. Corporate social responsibility managers promote actions that are environmentally conscious, philanthropic or related to human rights.
Credit adviser: Credit advisers offer guidance to customers related to credit services. They assess the customer’s financial situation and debt issues arisen from credit cards, medical bills and car loans in order to identify optimal credit solutions for customers and also provide debt elimination plans to adjust their finances if needed. They prepare qualitative credit analyses and decision-making material in respect of defined customers in conformity with the bank’s strategy on credit policy, ensure the credit quality and follow up on the performance of the credit portfolio. Credit advisers also have expertise in debt management and credit consolidation.
Insurance rating analyst: Insurance rating analysts analyse information related to insurance markets and their credit rating, prepare rating reports and invoices, compile financial data and present and explain credit rating opinions to stakeholders, clients and external parties. They work for insurance companies and calculate the insurance premium and rates for the company’s clients using both manual and automated methods.
Diplomat: Diplomats represent their home nation and government in international organisations. They negotiate with the organisation’s officials to ensure the home nation’s interests are protected, as well as facilitate productive and friendly communication between the home nation and the international organisation.
Manufacturing cost estimator: Manufacturing cost estimators collect and analyse data to evaluate the money, materials, labour and time required for manufacturing processes. They conduct analyses to identify (alternative) cost effective technical designs and production processes. They develop and use methods and tools for cost planning, controlling and analysis. They also perform quantitative and qualitative risk analyses and report on the development of costs.
Financial manager: Financial managers handle all the matters in reference to the finance and investments of a company. They manage financial operations of companies such as the assets, liabilities, equity and cash flow aiming to maintain the financial health of the company and operative viability. Financial managers evaluate the strategic plans of the company in financial terms, maintain transparent financial operations for taxation and auditing bodies, and create the financial statements of the company at the end of the fiscal year.
Pipeline environmental project manager: Pipeline environmental project managers ensure the accomplishment of environmental preservation within pipeline transport projects. They, together with a group of managers and specialists, analyse the sites and routes of pipelines in order to advice on environmental issues to be considered and addressed.
Business analyst:
Business analysts research and understand the strategic position of businesses and companies in relation to their markets and their stakeholders. They analyse and present their views on how the company, from many perspectives, can improve its strategic position and internal corporate structure. They assess needs for change, communication methods, technology, IT tools, new standards and certifications.
Ombudsman: Ombudsmen resolve disputes between two parties where there is a power imbalance, as an impartial mediator. They interview the parties involved and investigate the case in order to come to a resolution beneficial to both parties. They advise on conflict resolution and offer support to clients. The claims are mostly against public institutions and authorities.
Business consultant: Business consultants analyse the position, structure and processes of businesses and companies and offer services or advice to improve them. They research and identify business processes such as financial inefficiencies or employee management and devise strategical plans to overcome these difficulties. They work in external consulting firms where they provide an objective view on a business and or company’s structure and methodological processes.
Correctional services manager: Correctional services managers manage the operations of a correctional facility. They supervise personnel, develop and oversee correctional procedures, and ensure the operation is compliant with legal regulations. They perform administrative duties and facilitate cooperation with external institutions and staff providing aid to the facility.
Loan officer: Loan officers assess and authorise the approval of loan applications for individuals and businesses. They ensure complete transactions between loan organisations, borrowers, and sellers. Loan officers are specialists in consumer, mortgage, or commercial lending.
Equality and inclusion manager: Equality and inclusion managers develop policies to improve affirmative action, diversity and equality matters. They inform staff in corporations on the importance of the policies, and implementation and advise senior staff on corporate climate. They also perform guidance and support duties for employees.
Resource manager: Resource managers manage resources for all potential and assigned projects. They liaise with the different departments to see that all various resources are met, in a timely manner, and communicate any resourcing issues that may impact scheduled deadlines.
Supply chain manager: Supply chain managers plan, manage and coordinate all activities related to the sourcing and procurement of supplies needed to run manufacturing operations from the acquisition of raw materials to the distribution of finished products. The supplies can be raw materials or finished products, and it can be for internal or external use. Moreover, they plan and commission all the activities needed to be performed in manufacturing plants and adjust operations to changing levels of demand for a company’s products.
Mortgage loan underwriter: Mortgage loan underwriters ensure compliance with underwriter guidelines. They participate in the implementation of new underwriting guidelines. They also review closed and denied loans.
Property appraiser: Property appraisers undertake detailed analysis and investigation of properties in order to determine their value for sales, mortgage and insurance purposes. They compare the value of properties taking into account the age, actual state of property, its quality, repairs needed and overall sustainability. Property appraisers make an inventory of fixtures, compose a schedule of condition of property and prepare appraisal reports for both commercial and residential properties.
Brigadier: Brigadiers command large units of troops called brigades, oversee strategic and tactical planning, and monitor operations of their brigade. They manage the headquarters of the brigade’s division and ensure correct operations of the division on base and in the field.
Corporate banking manager: Corporate banking managers offer advice on a broad range of financial goods and services such as securities services, credit services, cash management, insurance products, leasing, information on merges and acquisitions and capital markets activities, to institutions and organisations.
Accountant:
Accountants review and analyse financial statements, budgets, financial reports, and business plans in order to check for irregularities resulting from error or fraud, and provide their clients with financial advice in matters such as financial forecasting and risk analysis. They may audit financial data, resolve insolvency cases, prepare tax returns and provide other tax-related advice in reference to current legislation.
Human resources manager: Human resources managers plan, design and implement processes related to the human capital of companies. They develop programs for recruiting, interviewing, and selecting employees based on a previous assessment of the profile and skills required in the company. Moreover, they manage compensation and development programs for the company’s employees comprising trainings, skill assessment and yearly evaluations, promotion, expat programs, and general assurance of the well-being of the employees in the workplace.

References

1. Advise on risk management – ESCO