What does an Operational Risk Analyst do?
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An operational risk analyst is responsible for identifying, assessing, and managing operational risks within an organization. They work closely with other departments to ensure that risks are properly identified and mitigated. Operational risk analysts typically have a background in business or finance.
Operational Risk Analyst job duties include:
- Identify operational risk factors and develop strategies to mitigate risks
- Conduct analysis of historical data to identify trends and root causes of operational risk events
- Perform impact analysis to assess the potential financial impact of operational risk events
- Develop and maintain an inventory of operational risk controls
- Monitor compliance with operational risk controls and policies
- Identify control gaps and recommend corrective actions
- Prepare reports on operational risk exposures and control effectiveness for senior management
- Participate in business continuity planning and incident response activities
- Support audit activities related to operational risk
Operational Risk Analyst Job Requirements
Operational Risk Analysts typically have a bachelor's degree in a quantitative field such as mathematics, finance, or statistics. Some employers may require certification in risk management or a related field. Operational Risk Analysts typically have 2-5 years of experience working in risk management or a related field.
Operational Risk Analyst Skills
- Analytical skills
- Probability and statistics
- Finance
- Economics
- Mathematics
- Computer science
- Operations research
- Decision analysis
- Systems engineering
- Industrial engineering
- Management science
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How to become an Operational Risk Analyst
Operational risk analysts are responsible for identifying, assessing and managing operational risks within an organisation. They work closely with other risk management professionals to ensure that risks are effectively managed and controlled.
To become an operational risk analyst, you will need to have strong analytical skills and a good understanding of risk management principles. You will also need to be able to effectively communicate with different stakeholders within an organisation.
If you are interested in becoming an operational risk analyst, you should consider pursuing a degree in risk management or a related field. There are also many professional development courses available which can help you develop the skills and knowledge required for this role.
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