Risk and Analytics Careers

Explore potential careers

In today’s data-driven world, the demand for skilled risk management professionals is at an all-time high. From financial analysts to strategic planners and risk consultants, the career possibilities are vast and varied. Explore this page to learn about the job market for risk management and analytics professionals, including job titles and descriptions, prerequisite skills, salary information and more. 

The Risk and Analytics Job Market

As more companies are increasing efforts to limit threats and promote organizational resilience, the demand for risk managers has never been greater. As a result, the job market outlook for individuals with a master’s degree in risk management and analytics is promising, reflecting a strong demand across various industries. 

The increasing reliance on big data and improved technology in the financial sector means that risk management professionals who can analyze and manage large datasets effectively are likely to find numerous opportunities. Positions in this field are not only found in traditional financial institutions but also across various sectors including healthcare, consulting, and telecommunications, as companies like Cigna, Wells Fargo, and Verizon actively seek these skills​​.

Why the increase in demand? 

Evaluating risk in order to inform a company’s next strategic move has become more commonplace in recent years. And if organizations weren’t already headed in this direction before, COVID’s massive global shutdowns and ongoing supply chain challenges in 2020 forced their hand.

“There’s a significant demand for this type of talent, especially here in North Carolina. Between the Charlotte metro area and Research Triangle Park, we have a wide variety of heavily regulated industries. We also have a number of entities in technology and innovation, and as more companies like Apple establish a presence in RTP, the demand will continue to increase.”

—Ericka Kranitz, MRA program director

Fueling the demand, according to Mark Beasley, Director of NC State’s Enterprise Risk Management Initiative, are two things business leaders are now realizing:

1. We have to think about risk in the context of our strategic goals.
2. It is much easier to think proactively about risk than it is to dig ourselves out of a hole.

In today’s market, it is extremely valuable for organizations to have leaders who can be more methodical and bring in data insights to support their thinking — so it’s no surprise that demand for expertise in risk management and analytics is on the rise. 

Relevant interests

You may be a good fit for a career in risk management and analytics if you have interests and strengths in these areas:

1. Analytical Skills: A strong interest in analyzing data, patterns, and trends to make informed decisions is crucial. Being comfortable with numbers, statistics, and data analysis tools is essential for interpreting the complex information that forms the basis of risk assessments.
2. Problem-solving Abilities: Risk management often involves identifying potential threats and finding innovative solutions to mitigate them. An aptitude for creative and critical thinking to solve complex problems and navigate uncertain situations is highly beneficial.
3. Decision-making Skills: Being decisive and able to weigh the potential benefits against risks to make informed and timely decisions is a key trait. This often involves making tough choices under pressure, considering both short-term impacts and long-term outcomes.
4. Communication Skills: Effective communication is critical, as risk managers must convey complex information clearly and persuasively to stakeholders, including executives, board members, and other department heads. This includes writing reports and presenting findings that are understandable and actionable.
5. Interpersonal Skills: Since risk management involves working across various departments within an organization, strong interpersonal skills help in negotiating, influencing, and working collaboratively with others.
6. Ethical Judgment and Integrity: Handling sensitive information and making decisions that can significantly impact an organization ethically and financially requires a high degree of integrity and ethical judgment.
7. Proactive Nature: An interest in staying ahead of potential issues by anticipating future challenges and being proactive rather than reactive in addressing risks is a valuable trait in risk management.
8. Continual Learning: Given the evolving nature of risks due to technological advances, regulatory changes, and economic factors, a continuous interest in learning and adapting to new methods, technologies, and strategies in risk management is essential.

Risk and analytics jobs and salaries 

Our specialized master’s program prepares graduates for a range of careers in risk management and analytics. Explore details about the following attainable job titles for program graduates, including:

• Job descriptions
• Job outlooks
• Salaries
• Important skills
• Common employers