Enterprise Risk Manager
Impact: Strategic
Develops and implements risk management strategies to safeguard an organization's assets and reputation. Identifies, assesses, and mitigates potential risks across various business functions, ensuring compliance with regulatory requirements and internal policies.
In their words
As an Enterprise Risk Manager, I find my days are a blend of deep analytical work and extensive collaboration. It's crucial to not only identify potential threats but also to communicate their implications clearly to diverse stakeholders, from technical teams to the executive board. The challenge lies in balancing proactive risk mitigation with supporting business innovation, always keeping an eye on the evolving regulatory landscape.
What the day looks like
- People interaction
- Extensive
- Team vs solo
- 70% Team / 30% Solo
- Client facing
- Frequent
- Impact visibility
- Very High
- Travel
- Occasional travel for audits, client meetings, or conferences (10-20%).
- Schedule flexibility
- Flexible
- Remote work
- Hybrid
- Typical work hours
- 45-55 hours/week
- Stress level
- High
At a glance
- Median salary
- $125,000
- Entry-level
- $80,000 - $100,000
- Senior
- $160,000+
- Growth by 2033
- 10 percent (faster than average)
- Demand
- Growing Fast
- Freelance potential
- Low
- Salary growth potential
- Strong growth potential with increasing responsibility and specialization in complex risk areas.
- Typical student debt
- $30,000 - $60,000
Skills you'll use
Hard skills
- Risk Assessment
- Financial Modeling
- Regulatory Compliance
- Data Analysis
- Project Management
- Internal Controls
Soft skills
- Critical Thinking
- Problem Solving
- Communication
- Negotiation
- Strategic Planning
Technical complexity: Very High
Tools you'll work with
Core tools
- GRC Software (e.g., Archer, MetricStream) (software): Managing governance, risk, and compliance processes
- Microsoft Excel (software): Data analysis and financial modeling
Common tools
- SQL Databases (software): Extracting and querying risk-related data
- Risk Analytics Platforms (platform): Advanced quantitative risk analysis
- Power BI / Tableau (software): Visualizing risk data and trends
How to get there
- Minimum education
- Bachelor's Degree
- Licensing
- Optional
- Years to mid-career
- 7
- Years to senior
- 12
- Career switching
- Moderate
Where this career leads
How people arrive here
- Financial Analyst: A strong foundation in financial analysis provides a good entry point into understanding financial risks.
- Compliance Officer: Experience in regulatory compliance is directly transferable to managing enterprise-wide risks.
Where you can go from here
- Chief Risk Officer (CRO): The natural progression for experienced enterprise risk managers, overseeing all risk functions.
- Head of Internal Audit: Leveraging risk assessment skills to evaluate internal controls and operational efficiency.
- Strategy Consultant: Applying risk expertise to advise organizations on strategic decisions and potential pitfalls.
Typical progression
- Progression often leads to Chief Risk Officer (CRO), Head of Compliance, or senior leadership roles within finance or operations.
Future outlook
- Automation probability
- 15 percent - very low risk
- AI disruption risk
- Low
- Demand trend
- Growing Fast
How people feel about it
- Overall satisfaction
- 8/10
- Meaning
- 8.5/10
- Work-life balance
- 6.5/10
- Prestige
- 8.5/10
- Social perception
- High
Find your community
Professional organisations
- Global Association of Risk Professionals (GARP): A leading professional organization for risk managers, offering certifications and resources.
- Risk Management Association (RMA): Focuses on risk management in the financial services industry.
Podcasts and media
- Risk & Compliance Magazine: Provides news and insights on global risk and compliance issues.
Online communities
- LinkedIn Group: Enterprise Risk Management (ERM): An active community for discussions and networking among ERM professionals.