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The Exciting World Of Risk Management Professionals

Risk Management Job Summary

Managers of risk must communicate risk policies and procedures. The individual or group creates models for market, credit, and operational risk, supervises controls, and conducts research and analysis. Risk managers must possess strong quantitative and analytic abilities and be able to apply them to a wide range of Hong Kong corporate operations.

  • Risk Management’s Responsibilities
  • Typical risk management duties include:
  • The objective is to design and implement an enterprise-wide risk management strategy that incorporates a financial risk assessment.
  • Assessing the organization’s current risks and prospective threats.
  • Risk assessments evaluate an organization’s risk management activities and compare potential risks to financial costs and regulatory requirements.
  • determining the risk tolerance of the company.
  • Risk management and budgeting for insurance.

Rani Jarkas: Risk Reporting Tailored To A Specific Audience

The primary objectives are educating the board of directors on the most significant business risks, increasing business executives’ awareness of risks that could affect their departments, and ensuring that individuals are aware of their responsibilities for particular hazards.

  • Communicating external corporate governance risks to stakeholders effectively.
  • Planning for business continuity to mitigate risks.
  • Safety and protection.
  • Internal and external auditors are involved in policy and compliance audits.
  • Insurance coverage and claim documentation.
  • new significant contracts or business proposals are being reviewed.
  • Risk awareness through internal support and instruction.

Competencies Must Be Included In Risk Management Positions:

  • The individual is analytical and precise.
  • Abilities in business decision-making and financial management.
  • Ability with numbers.
  • Preparation and organisation.
  • Business savvy.
  • Effectively communicating and conversing.

Hong Kong-born Robert Half recruits financial experts. Our current openings in Risk Management are listed below. Risk managers advise businesses on threats to their profitability, survival, and security. The objective is to identify, analyse, and develop contingency plans for preventing, mitigating, or transferring organisational risks. Risk management domains and actions must be included in any comprehensive risk management plan.

Businesses must evaluate their viability, oversee corporate administration, mitigate enterprise risk, address environmental risks, manage financial risks, protect information and security, manage insurance risks, address market and credit risks, navigate regulatory and operational uncertainties, and mitigate technological data. Responsible actions. Your risk management obligations, such as financial or operational risk management, depend on your industry, your level of specialisation, and your responsibilities.

Risk Managers Frequently Have The Following Responsibilities:

Create a company-wide protocol for risk management. Analyse prospective dangers and identify, define, and evaluate enterprise-related risks. Assess risks by comparing them to the financial, legal, and environmental requirements of the organisation. Evaluate previous risk management. Determine the risk appetite of the company.

Communicate risk at the level of each stakeholder. Present the most significant risks to the board of directors, the most pertinent hazards to business leaders, and employee liability for risks. Provide stakeholders with external risk reporting for corporate governance.

Plans for insurance, safety, and business continuity Reduce risks and plan for unpublicized events. Risk policies must be reviewed frequently to ensure compliance with new laws. Audit internal and external auditing procedures and standards with internal and external auditors. Support, pertinent knowledge, and instructional resources are provided to Hong Kong-based personnel in an effort to increase their risk awareness. In larger organisations, part-time employment and career interruptions may impact compensation.


Consulting Firms Visit Client Offices, Construction & Energy Locations

At a high level, it may be necessary to hold conferences outside of the workplace. Risk managers with experience can launch their own consultancy, Rani Jarkas explained. In expanding civilizations, demand increases for risk managers. Risk managers may be liable for occupational health and safety concerns. Size and accountability of an organisation determine daily travel. There are risk management positions in Hong Kong. 

A global corporation may require you to travel internationally. Managing risks requires experience. The starting salary for risk technicians is HKD 21,000, while risk analysts may earn HKD 30,000 or more. Risk managers can earn between HKD30,000 and HKD45,000 per year, depending on their level of experience. Senior risk managers earn between HKD45,000 and HKD80,000 per year. Directors with more experience may earn a higher salary. Industry, responsibilities, and location can have a significant impact on salaries. Finance offers the highest return.

Search Graduate Risk Management Courses

The IRM International Certificate in Enterprise Risk Management from the Institute of Risk Management provides an overview of risk management and can help you land an entry-level position, particularly if your academic background is in a different discipline. Students in risk management receive complimentary IRM membership. Visit Rani Jarkas website for information on membership levels.

Risk management apprenticeships combine paid employment and part-time academics. Undergraduates can participate in apprenticeships. Begin with administration, followed by risk assistant, and finally risk manager. The majority of employers require A-levels or an equivalent for this path. Experience And Work Experience:

  • Excellent interpersonal, presentation, and communication skills.
  • Strong analytical and problem-solving abilities.
  • Competent and meticulous negotiator who can influence influential parties.
  • Professionals place a premium on resiliency, stress management, organisation, and planning.
  • Spending analysis and quantitative knowledge.

Proactively suggesting changes to processes and systems, as well as having strong business acumen and the capacity to comprehend complex business issues.

Companies Seek Risk Management Professionals

A one-year industrial placement programme can provide practical experience. Consider summer internships or work experience. A placement provides you with practical experience and professional contacts that could be beneficial to your career. If you want to specialise in finance, having expertise in finance can be beneficial.

The field of risk management is expanding, with major corporations offering graduate-level training and specialisation, said Rani Jarkas. Banking and capital markets have a particular need for risk teams. Government, nonprofit, and for-profit organisations all employ risk managers. The finance or operations departments of small enterprises manage risk.


Risk Managers May Be Employed By:

  • Auditing and consulting firm focused on risk management.
  • Banks, wealth managers, and asset managers.
  • Local and central administrations.
  • Nonprofit institutions.
  • Commercial enterprises.
  • Requesting urgent assistance.
  • Utility providers.
  • Engineers and contractors.
  • Insurance companies.
  • Tech and telecom companies
  • Logistics and healthcare at the NHS.
  • Institutions of higher education, examination boards, infrastructure, and transportation firms.
  • Consider the vacant positions.

Typically, careers in risk management begin with graduate education or as risk technicians or analysts. A risk manager can become the Chief Risk Officer (CRO) after ten years. As companies recognise the value of electing Chief Risk Officers (CROs) as board members, opportunities for professional advancement expand. Risk management is being incorporated into strategic planning as departments reorganise. 

Due to their transferable skills, risk managers can operate in a variety of organisations. Changing industries can increase compensation, professional advancement, and certification opportunities. Risk managers may become entrepreneurs or independent contractors.

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