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Achieve Success As A Risk Control Manager

3222 words - 13 pages

Achieve Success as a Risk Control Manager
Step 1
Register at a local university or college to begin your career in risk control management. Most risk control managers become novice experts in risk management and accounting during their academic careers. You can couple other programs like business administration and software design to help you round out your training.
Step 2
Look for summer positions as a customer service representative with an insurance company during college. You can utilize several summer sessions during college to gain experience in communicating risk control issues over the phone, in person or online. These positions can fulfill the job requirements you need to ...view middle of the document...

There are many companies that hire temporary risk control consultants and managers to deal with special projects. This experience can help you land a permanent management position.

Search for risk control issues early in your career to develop experience. Part-time jobs and internships in the corporate world are often ripe with risk control issues that are dealt with by experienced professionals. Volunteer your time and energy to administrative tasks in these environments to become aware of risk control management.

A Risk Management Manager may be more commonly known as a Registered Risk Practitioner,
according to the risk management educational institution called the Institute of Risk
Management. To become a Registered Risk Practitioner, you should first complete the
training requirements to get your Certificate in Risk Management.

The Certificate in Risk Management is your stepping stone to applying for the Diploma
in Risk Management – though you may already apply to become a Registered Risk
Practitioner after completion of the Certificate. If you register as a Registered Risk
Practitioner, you should show proof that you either have experience related to Risk
Management, or qualifications in the field. Without those two requirements, you can only
become a Registered Risk Practitioner if you have undergone Continuing Professional
Development as well.

The Continuing Professional Development qualification can only be attained if you succeed
in earning 300 points within a three-year period. Certificants, Members and Fellows can
apply to earn these points. (There will be a yearly audit of pertinent membership grades
based on a sample taken.) However, if you are currently trying to earn your Diploma in Risk
Management, you need not undergo the Continuing Professional Development program.

You may be able to get work (and appropriate compensation) in the following risk
management-related occupations after you have gotten your qualifications:

1. Risk and Insurance Manager – you can receive a minimum of 27,492 British pounds in
this position.
2. Senior Risk Manager – compensation tops out at 40,000 British pounds, depending on
your level of experience.
3. Risk Management Adviser - merits compensation of at least 29,880 British pounds.

As you can see, risk management jobs actually pay very handsomely – if you are qualified.

Risk, as defined by the insurance industry, is the probability that a loss may or may not occur. Risk management is the identification, assessment, minimization, and potential elimination of the various risks that can threaten an organization's financial stability.

The Bureau of Labor Statistics estimates that there are around 500,000 risk managers in the United States today and that this number will increase by 13%, or 64,000, before 2016. The most recent report on this booming profession revealed that the median salary for risk managers was $90,970, with only the lowest 10% of...

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