How to Become A Risk Manager

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BSB50820 & BSB50420

Double Diploma of Project Management + Leadership & Management

Looking for a way to kickstart your business management career? Why not get the best of both worlds, tackle two disciplines at once, and double your job prospects right out of the gate? That’s what’s on offer with the Double Diploma of Project Management (BSB50820) + Leadership & Management (BSB50420) from the College for Adult Learning.

This comprehensive double diploma course introduces you to the exciting world of project management, while also improving your ability to lead a team through leadership and management-focused units. You’ll gain valuable skills in managing the time, scope, quality and cost of a project, as well as covering key areas of leadership such as accountability, risk management, performance management, optimisation and target setting. All in all, it’s a well-rounded course that will equip you with a wide variety of skills to see you to success in the business world.

You’ll learn to:

Develop, manage and execute project plans
Lead and performance manage a project team
Manage large budgets and financial plans across multiple projects
Manage small to large projects using the PMBOK 10 knowledge areas

Delivered entirely online, this course can be completed at your own pace. Studying full-time, you can have a double qualification in just 12 months (or 16–18 months part-time).

CAL has received endorsement for our Diploma of Project Management (BSB50820) course from the Australian Institute of Project Management (AIPM), the premier, longest-serving body for project management in Australia.

Having passed a rigorous review by AIPM auditors, adding an AIPM-endorsed diploma to your repertoire demonstrates your commitment to project management professional development and the elevation of industry practices.

So what are you waiting for? Dive headfirst into the next stage of your career as a business leader!

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BSB50920

Diploma of Quality Auditing

The College of Adult Learning’s Diploma of Quality Auditing (BSB50920) is perfect for professionals who want to get qualified and be able to lead and manage successful quality audits. Our course has been designed to provide you with all the skills and tools necessary to manage, implement and deliver quality measurement procedures and end-to-end audits, while placing a focus on continuous improvement. Not only will you have the ability to ensure compliance and ISO standards are met, but you’ll also gain essential transferable skills that can be used across multiple industries from medical, food safety, to aged care and finance – just to name a few.

What you’ll learn

Manage business risk and interpret compliance requirements
Develop and lead quality audits and ongoing improvement plans
Ensure compliance with ISO standards
Manage project quality and facilitate continuous improvement

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BSB50820

Diploma of Project Management (Specialising in Construction)

The Diploma of Project Management (Specialising in Construction) (BSB50820) from The College of Adult Learning is designed to provide graduates with the critical project management skills they need to succeed in planning, managing and delivering projects on time and to budget, with a focus on skills required for the construction industry, including WHS management and preparing contracts.

In this course you will develop skills to:

Manage projects costs and timing to ensure projects are finished on time and to budget
Manage project information to ensure seamless communication across all team members of the project to promote efficiency
Lead WHS and risk management to ensure the workplace is safe and workplace incidents are reduced and or eliminated
Manage the application of building codes to ensure projects meet standards

This diploma course is endorsed by the Australian Institute of Project Management (AIPM).

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What is a Risk Manager

The role of a Risk Manager is both dynamic and essential in today’s fast-paced business environment. These professionals are tasked with identifying, assessing, and mitigating risks that could potentially impact an organisation’s operations and objectives. By employing a strategic approach, Risk Managers help ensure that businesses can navigate uncertainties while capitalising on opportunities for growth. Their expertise is invaluable across various sectors, including finance, healthcare, and technology, making this a versatile and rewarding career choice.

Risk Managers carry a range of responsibilities that are crucial for maintaining the integrity and sustainability of an organisation. They conduct thorough risk assessments, analysing potential threats and vulnerabilities that could affect the business. This involves collaborating with different departments to gather insights and data, which helps in formulating effective risk management strategies. Additionally, they are responsible for developing and implementing policies and procedures that promote a culture of risk awareness throughout the organisation.

Common tasks for a Risk Manager include monitoring and reporting on risk exposure, conducting audits, and ensuring compliance with relevant regulations and standards. They also play a key role in crisis management, preparing contingency plans to address potential emergencies. By staying informed about industry trends and regulatory changes, Risk Managers can proactively adjust their strategies to safeguard the organisation’s interests. This proactive approach not only protects the company but also enhances its reputation and stakeholder confidence.

Overall, a career as a Risk Manager offers a unique blend of analytical thinking, strategic planning, and problem-solving. It provides opportunities for continuous learning and professional development, as the landscape of risks evolves with technological advancements and market changes. For those who thrive in challenging environments and enjoy making impactful decisions, this career path can be both fulfilling and lucrative.

Career Outlook for Risk Manager

A career as a Risk Manager is both dynamic and rewarding, appealing to those who thrive in fast-paced environments. Typically, Risk Managers are in their mid-30s to early 40s, reflecting a blend of experience and youthful energy. They usually work full-time, averaging around 38 to 40 hours per week, with some flexibility for overtime during critical project phases or audits. Employment opportunities are predominantly permanent, with a growing number of contract roles emerging in various sectors.

The unemployment rate for Risk Managers remains relatively low, thanks to the increasing demand for risk management professionals across industries such as finance, healthcare, and government. As businesses continue to navigate complex regulatory environments and economic uncertainties, the need for skilled Risk Managers is expected to grow. Industry forecasts suggest a positive outlook for this profession, with job growth projected to increase significantly over the next five years, making it an excellent choice for those looking to enter a stable and evolving field.

On this Article

Introduction

Average Salaries

Resources

Steps to Become a Risk Manager

Understanding the Role of a Risk Manager

A Risk Manager plays a crucial role in identifying, assessing, and mitigating risks that could potentially impact an organisation’s operations and objectives. They work across various industries, including finance, healthcare, and government, ensuring that businesses can navigate uncertainties effectively. By implementing risk management strategies, they help safeguard assets, enhance decision-making, and promote a culture of risk awareness within the organisation.

Step 1

The journey to becoming a Risk Manager typically begins with obtaining a relevant degree. Most employers prefer candidates with a bachelor’s degree in fields such as finance, business administration, economics, or risk management. This foundational education provides essential knowledge about financial principles, business operations, and risk assessment techniques, which are vital for a successful career in risk management.

Step 2

After completing their degree, aspiring Risk Managers should seek internships or entry-level positions in risk management or related fields. Gaining practical experience allows individuals to apply theoretical knowledge in real-world scenarios, develop critical skills, and understand the intricacies of risk assessment and mitigation. This experience is invaluable and often serves as a stepping stone to more advanced roles in the field.

Step 3

To enhance their qualifications and stand out in the competitive job market, many Risk Managers pursue professional certifications. Certifications such as the Certified Risk Manager (CRM) or the Risk Management Professional (PMI-RMP) demonstrate a commitment to the profession and a deep understanding of risk management principles. These credentials can significantly boost career prospects and earning potential.

Step 4

Successful Risk Managers possess a unique set of skills that enable them to excel in their roles. These include analytical thinking, problem-solving, communication, and decision-making skills. Additionally, proficiency in risk assessment tools and software is essential. Continuous professional development through workshops, seminars, and online courses can help individuals refine these skills and stay updated on industry trends.

Step 5

Networking is a vital aspect of career advancement in risk management. Joining professional organisations, attending industry conferences, and connecting with peers on platforms like LinkedIn can open doors to new opportunities. Building a strong professional network allows individuals to share knowledge, seek mentorship, and stay informed about job openings and industry developments.

Step 6

As individuals gain experience and expertise in risk management, they should actively seek advancement opportunities. This may involve applying for higher-level positions within their current organisation or exploring new roles in different companies. Demonstrating a proactive approach to career development, such as taking on leadership roles in projects or contributing to strategic initiatives, can significantly enhance career prospects.

Step 7

The field of risk management is constantly evolving due to changes in regulations, technology, and market dynamics. Risk Managers should stay informed about industry trends and best practices by reading relevant publications, attending training sessions, and participating in professional development activities. This commitment to lifelong learning ensures that they remain effective in their roles and can adapt to new challenges as they arise.

Conclusion

Becoming a Risk Manager is a rewarding career path that offers opportunities for growth and development. By following these steps, individuals can build a successful career in risk management, contributing to the stability and success of their organisations while enjoying a fulfilling professional journey.

What does a a Risk Manager do?

A Risk Manager plays a crucial role in safeguarding an organisation’s assets and reputation by identifying, assessing, and mitigating potential risks. On a day-to-day basis, they analyse data and trends to pinpoint vulnerabilities, develop risk management strategies, and implement policies to minimise exposure to threats. This involves collaborating with various departments to ensure compliance with regulations and industry standards, conducting risk assessments, and preparing detailed reports for senior management. Additionally, they often lead training sessions to educate staff on risk awareness and best practices. With a dynamic blend of analytical skills and strategic thinking, a Risk Manager helps create a resilient organisational culture that can adapt to challenges and seize opportunities.

Tasks

Risk Managers play a crucial role in identifying, assessing, and mitigating risks that could potentially impact an organisation’s operations and objectives. They work across various industries, ensuring that businesses can navigate uncertainties while maintaining compliance with regulations. This dynamic career requires a blend of analytical skills, strategic thinking, and effective communication to safeguard the interests of the organisation and its stakeholders.

Risk Assessment – Conducting thorough evaluations of potential risks that could affect the organisation’s assets, operations, and reputation.
Policy Development – Creating and implementing risk management policies and procedures to guide the organisation in mitigating identified risks.
Data Analysis – Analysing data and trends to identify risk patterns and inform decision-making processes.
Compliance Monitoring – Ensuring that the organisation adheres to relevant laws, regulations, and industry standards related to risk management.
Training and Awareness – Educating employees about risk management practices and promoting a culture of risk awareness within the organisation.
Reporting – Preparing detailed reports on risk assessments, incidents, and compliance for senior management and stakeholders.
Collaboration – Working closely with various departments to integrate risk management strategies into their operations and decision-making processes.
Incident Management – Responding to and managing incidents that pose a risk to the organisation, including developing contingency plans.
Continuous Improvement – Regularly reviewing and updating risk management strategies to adapt to changing environments and emerging risks.

Skills for Success

A career as a Risk Manager requires a unique blend of analytical skills, strategic thinking, and effective communication. Individuals in this role must be adept at identifying potential risks that could impact an organisation’s operations, finances, or reputation. This involves conducting thorough risk assessments, analysing data, and developing strategies to mitigate identified risks. Strong problem-solving abilities are essential, as Risk Managers often need to devise innovative solutions to complex challenges while ensuring compliance with relevant regulations and standards.

In addition to technical skills, successful Risk Managers possess excellent interpersonal skills, enabling them to collaborate with various stakeholders across the organisation. They must be able to communicate their findings and recommendations clearly and persuasively, ensuring that all team members understand the importance of risk management practices. Furthermore, a solid understanding of industry trends and regulatory changes is crucial, as it allows Risk Managers to adapt their strategies accordingly and maintain a proactive approach to risk management.

Skills & Attributes

Analytical skills
Attention to detail
Strong communication skills
Problem-solving abilities
Risk assessment and management
Knowledge of regulatory requirements
Project management skills
Ability to work under pressure
Team collaboration
Financial acumen
Proficiency in risk management software
Strategic thinking
Adaptability and flexibility
Ethical judgement and integrity
Leadership skills

Average Salaries

The average annual salary for a Risk Manager in Australia is around $140,000 but this varies based on qualifications and experience, so this number is only an estimation of current data.

max $158 K

av $140 K

Resources For Risk Managers

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TAS

How to Become A Risk Manager

3 Courses

Displaying 3 of 3 courses

Filters

Clear all

Location

Industry

Study Mode

Payment Option

Qualification

Course Provider

BSB50820 & BSB50420

Double Diploma of Project Management + Leadership & Management

You’ll learn to:

Develop, manage and execute project plans
Lead and performance manage a project team
Manage large budgets and financial plans across multiple projects
Manage small to large projects using the PMBOK 10 knowledge areas

Delivered entirely online, this course can be completed at your own pace. Studying full-time, you can have a double qualification in just 12 months (or 16–18 months part-time).

So what are you waiting for? Dive headfirst into the next stage of your career as a business leader!

Online

Payment plan, Upfront payment

100% Privacy · Takes 1 min

BSB50920