Risk assessment is a very specialised field found within the corporate finance ladder and both assessors and managers are responsible for overseeing financial risks involved in trading and banking sectors.
Because of its specialised nature, they'll usually work quite closely with those at the top of the corporate ladder in order to identify any problems that might arise as a result of a company's actions and create programs that can be put into place that will lower the risk involved with any trade. It's quite a rewarding career for those who wish to work in a high, senior-level position, but what sort of salaries can they expect to make?
Risk assessment salary expectations.
For the majority of new candidates, a salary for risk assessment positions is largely dependent on experience. There are very few, if any, commission-based opportunities within this role so candidates can rest assured that they're going to be taking home a consistent amount every month. Although it does mean that they must be prepared to commit to full time working hours.
The average salary of an experienced operational risk manager is £60,000 GBP as of November 2014 with the upper limit resting at about £65,000 GBP. While this is quite the lucrative figure, those who are just getting involved in the field can expect to earn in the region of £25,000 GBP as entry-level assessors.
There isn't much variation in salary according to where assessors are based in the United Kingdom. Those who reside in the East Midlands reportedly earn the most as entry-level assessors at £28,000 GBP. Those who reside in the North East reportedly earn starting salaries of £23,000.
Those who have made it to this executive-level role are unlikely to find further progression opportunities as they continue their careers. A risk management job is often regarded as one of the top rungs of a corporate ladder in the financial sector, so candidates can rest assured that they've reached the peak of success should they manage to find themselves in this sort of a role. However, that doesn't mean that there aren't any opportunities for further growth. Candidates might find themselves becoming investment partners or perform a variety of other investment-related tasks for companies as a portfolio manager.
Those who are involved in risk assessment may want to consider a career regression should they find the field unsuitable for their personal tastes. This can involve stepping down the corporate ladder into one of the various fields beneath the risk assessor, such as a financial analyst that would give assessors more hands-on dealings with the financial standings of a company or a content manager should they wish to be more actively involved in preparing presentations and other business-related writings.
Room for improvement.
Risk assessors don't have many opportunities available in terms of self-improvement. Of course, it is always wise for those involved in corporate finance to continually renew their memberships in the various regulatory bodies and attend any educational seminars as required to maintain a membership in good standing.
This won't do much in terms of career progression, but it will allow candidates to flex their good standings alongside their professional experiences and educational background should they choose to seek career opportunities elsewhere.