Assistant Risk Manager

Industry:
Public Sector
Last Updated:
July 19, 2023

Job Description Overview

An Assistant Risk Manager job description includes duties such as supporting the Risk Manager in identifying, assessing, and mitigating risks in the Public Sector industry. They conduct data analysis, develop risk assessments, and work to ensure that the department meets industry and legal standards. The Assistant Risk Manager may assist in the development and implementation of risk management policies, procedures, and best practices while coordinating with other departments. They must collaborate with management to help prevent and mitigate risk through audits and training programs. Additionally, an Assistant Risk Manager may work with outside agencies and consultants, such as insurance providers and legal advisors. This job requires excellent analytical, communication, and problem-solving skills as well as experience in the field of risk management. If you are interested in pursuing a career as an Assistant Risk Manager in the Public Sector industry, this field may offer opportunities for growth and advancement.

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Job Duties and Responsibilities

  • Assist in analyzing the risks associated with various operations and practices within the organization.
  • Support the development and implementation of risk management strategies.
  • Collect and maintain data and information related to risks, hazards, and insurance claims.
  • Help identify potential hazards or risks and propose preventative measures.
  • Collaborate with other departments to provide advice and guidance on risk-related issues.
  • Coordinate with external vendors and service providers to ensure appropriate insurance coverage for the organization.
  • Assist in developing training programs for employees to increase their understanding of risk management processes.
  • Monitor compliance with established risk management policies and procedures.
  • Participate in the review of contracts and agreements to ensure that the organization is adequately protected.
  • Maintain accurate and up-to-date records related to risk management activities.

Experience and Education Requirements

To be an Assistant Risk Manager in the Public Sector industry, you usually need a degree in Business, Finance, or a related field. You also need practical experience in risk management, preferably in a public sector organization. This job requires excellent analytical and problem-solving skills, so you should be good at assessing the risks associated with different situations and figuring out how to minimize them. You should also have strong communication skills, as you will be working closely with other team members and stakeholders. Typically, you will report to the Risk Manager, and your role will involve providing support in identifying, assessing, and mitigating risks across the organization.

Salary Range

An Assistant Risk Manager in the Public Sector industry is responsible for assisting the Risk Manager in identifying, assessing, and controlling potential risks. According to Salary.com, the average annual salary for Assistant Risk Managers in the United States is $68,153, with a salary range of $54,724 to $81,495. Glassdoor estimates the average salary for Assistant Risk Managers in the US to be slightly higher at $72,764 a year. In other countries, the salary range can vary greatly. In the United Kingdom, the average salary for an Assistant Risk Manager is £31,904 ($39,593), while in Canada, the average salary is CAD $60,309 ($45,092). 

Sources:

  • https://www.salary.com/research/salary/benchmark/assistant-risk-manager-salary 
  • https://www.glassdoor.com/Salaries/assistant-risk-manager-salary-SRCH_KO0,22.htm 
  • https://www.payscale.com/research/US/Job=AssistantRiskManager/Salary

Career Outlook

The career outlook for an Assistant Risk Manager in the Public Sector industry over the next 5 years is likely to remain stable. According to the Bureau of Labor Statistics, job opportunities for risk managers are projected to grow about 9% from 2018 to 2028, which is faster than average. In the public sector, the need for risk management is essential since it involves safeguarding public resources and operations. This job is responsible for assessing and mitigating risks arising from various sources to ensure the smooth running of government projects. Thus, there will always be a need for individuals with these skills in the industry. Therefore, there are good career opportunities for people interested in becoming Assistant Risk Managers in the public sector.

Frequently Asked Questions (FAQ)

Q: What is an Assistant Risk Manager?

A: An Assistant Risk Manager is responsible for identifying and assessing potential risks associated with various projects and initiatives within the public sector.

Q: What does an Assistant Risk Manager do?

A: An Assistant Risk Manager works with a team to identify risks and suggest ways to mitigate or eliminate risks. They may also develop strategies for managing risk in the public sector.

Q: What skills do I need to become an Assistant Risk Manager?

A: You will need strong analytical and critical thinking skills, as well as the ability to work well in a team. Attention to detail, good communication skills, and knowledge of risk management principles are also important.

Q: What kind of education do I need for this job?

A: A Bachelor's degree in a related field, such as business, economics, or finance, is typically required for this position. Relevant work experience or a Master's degree in a related field may also be beneficial.

Q: What kind of career opportunities are available for an Assistant Risk Manager in the public sector?

A: An Assistant Risk Manager can pursue a variety of paths within the public sector, including roles in risk management, project management, and policy analysis. They may also have the opportunity to advance into higher level management positions.


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