What are the qualities and qualifications of a good RISK Manager?

A good Risk manager should have the the following qualities

1. Technology Savvy 

Technology now plays an integral role in risk management. Big data and predictive analytics, for example, are used to gather and assess large sets of valuable data to identify trends and expose risk. While risk managers aren’t expected to be IT wizards, they do need to be technologically savvy enough to be able to effectively use big data technology.

2. Analytics Minded

As previously mentioned, businesses are adopting big data technology to help assess and prevent risk. Simply gathering data, however, isn’t enough. Risk managers must be analytical minded in order to interpret data and apply valuable insight throughout the entire organization. What looks like a complex set of numbers to one person is valuable data that can be used to reduce risk to a risk manager.

3. Plays Nice with Others

A risk manager can’t be successful without the help of other departments and C-level executives within the organization. Other managers, for example, need to provide risk managers with information so they can properly review, assess, and identify risk. Risk managers will then provide department heads with training or recommendations for decreasing risk. Because of this, a successful risk manager must be able to play nice with others and work closely with executives.

4. Educator and Risk Evangelist

One of the roles of a risk manager is to effectively communicate the value of risk management to the entire organization. The most successful risk managers are educators who are able to influence others to proactively reduce risk within their own departments. After all, one person alone cannot prevent risk for an entire organization.

5. Strong Backbone

The job of a risk manager is not for the faint hearted. Often, they will have to deliver news that C-level executives might not want to hear. Instead of being steamrolled by upper management, risk managers must have a strong backbone and push back against leadership when appropriate.

Qualification required for a successful Risk Manager are,

1.An understanding of business administration, retail sales, and/or marketing

2.Technical understanding of insurance

3.Strong interpersonal and communication skills

4.Self-motivated, outgoing, open-minded and open to learning

5.Attention to detail and adaptable in a variety of situations

6.Analytical, with excellent report writing skills

7.Adept at change and project management

• Computer proficiency

Analytical minded

Integrity

Technical Competency

Salesmanship 

Creativity

Someone who understands the clients, the traders, the products, the market risk as well as the operational risk and can communicate with the management.