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    Risk Manager

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    Priyanka Varma
    A risk manager works in finance or insurance to assess risks and determine the likelihood of losses. They help set budgets by defining worst case scenarios and highlight potential liabilities. Their risk assessments are valuable for determining the best business strategies and setting appropriate insurance premiums. The role of a risk manager may expand to other financial positions due to their skills in financial analysis.

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    Risk Manager

    Uploaded by

    Priyanka Varma
    11 views2 pages
    A risk manager works in finance or insurance to assess risks and determine the likelihood of losses. They help set budgets by defining worst case scenarios and highlight potential liabilities. Their risk assessments are valuable for determining the best business strategies and setting appropriate insurance premiums. The role of a risk manager may expand to other financial positions due to their skills in financial analysis.

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    A risk manager works in finance or insurance to assess risks and determine the likelihood of losses. They help set budgets by defining worst case scenarios and highlight potential liabilities. Their risk assessments are valuable for determining the best business strategies and setting appropriate insurance premiums. The role of a risk manager may expand to other financial positions due to their skills in financial analysis.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    11 views2 pages

    Risk Manager

    Uploaded by

    Priyanka Varma
    A risk manager works in finance or insurance to assess risks and determine the likelihood of losses. They help set budgets by defining worst case scenarios and highlight potential liabilities. Their risk assessments are valuable for determining the best business strategies and setting appropriate insurance premiums. The role of a risk manager may expand to other financial positions due to their skills in financial analysis.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Role of a Risk Manager

    By Brenda D. Priddy, eHow Contributor


    updated: October 8, 2009
    I want to do this!

    A risk manager is an important to the viability of any business. The two most common
    places to find risk managers are in financial markets and in insurance companies. These
    two sectors stand to benefit the most from the expertise that a risk manager can provide.
    .

    Function
    1. A risk manager works in finance or insurance. A financial risk manager is
    responsible for determining what risks are associated with a certain business
    venture. An insurance risk manager is responsible for determining what risks are
    associated with insuring individuals, ventures or properties.

    Risk Assessment
    2. Risk assessment is the process that a risk manager uses to determine the
    likelihood of loss that's associated with a particular financial process or
    individual. The financial risks could include the likelihood that a project might fail,
    how much money could be lost, how likely the company would be to make
    money from that venture and other similar processes. Risk managers in the
    insurance field must measure the risk associated with potential losses. This
    could include the likelihood that a person will get sick, a determination of how
    much money the insurance company would have to pay when they get sick, and
    the types of illnesses that they would be most likely to get.

    Budgeting
    3. Budgeting is a key component of risk management. Risk managers are often
    assigned a role in budgeting because they are the ones who can best assess
    what processes and operations are likely to cause financial trouble for the
    business. Their role is commonly to define the worst case scenario that a budget
    may need to accommodate.

    Benefits
    4. Risk managers benefit companies by highlighting the liabilities they face on a
    day to day basis. The ability to see what risks could occur with new ventures is
    an invaluable tool for managers and business owners who are trying to
    determine the best path that a business should take. Risk management is also
    essential in the insurance field because it helps to determine which insurance
    candidates are high risk and what premiums should be charged to each
    individual.
    Potential
    5. The role of a risk manager can often expand into other responsibilities. In
    many cases risk managers are brought on to discuss financial processes
    because they have the ability and training to determine what potential losses and
    gains can occur from any given process or financial change. It is easy for a risk
    manager to move into additional financial positions because of their
    competencies with numbers, formulas and financial assessments. Risk
    managers in the insurance field can become part of the upper echelons of the
    corporate world.

    References

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