What does a Principal Risk Manager do?

As a risk manager, you are in charge of determining financial, safety and security risks for a company or organization, and you find ways to reduce those risks through planning and problem-solving. Risk managers are in charge of research activities such as risk assessment for current company affairs or risk evaluation, which evaluates the company's handling of risks in the past. Risk managers must be able to present their findings to their clients in a way that's easy for the company administration to understand and implement. Many risk managers begin their careers as risk assistants or risk analysts and move into manager roles once they have enough experience.

Most risk managers hold bachelor's degrees in business, management or another related field. Graduate degrees look even more impressive on your resum' to potential employers. In-depth knowledge of the company and industry is very important for risk managers, who need to accurately assess risks that may become a reality without intervention by organization management. Risk managers should be able to think outside the box to envision risks that might be otherwise unnoticeable to others.

  • Identify financial, safety or security risks that the client company or organization may face
  • Prepare action plans to decrease risk factors
  • Gather confidential financial information from client such as income, assets and debts
  • Manage company insurance policies
  • Perform risk evaluation, which assesses the way the company previously handled risks
  • Make risk-avoiding adjustments to current methods of operation in order to minimize their future risks
  • Prepare a risk-management budget
  • Provide training and certification for organization staff so that they can be aware of risks and try to avoid them
  • Professional Risk Manager (PRM) certification may be beneficial
  • Thorough understanding of the business or organization's goals and values
  • Computer, data entry and MS Office skills
  • Excellent communication skills, both written and spoken
  • Ability to handle private, sensitive, confidential information appropriately
  • You pay strong attention to detail and organization
  • Strong working knowledge of risk management and previous experience working with risk (i.e. risk assistant or risk analyst)
  • Solid research skills using the internet and first-person interviews
  • Experience working with insurance policies
EducationGraduate Degree
Work/Life Balance
3.8 ★
Salary Range--
Career Opportunity
3.7 ★
Avg. Experience5-7 years

Principal Risk Manager Salaries

Average Base Pay

£77,113 /yr
Same as national average
Not including cash compensation
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Not enough salaries reported to show distribution
£52K
Median: £77K
£115K
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Glassdoor Estimated Salary

Principal Risk Manager Career Path

Learn how to become a Principal Risk Manager, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

L5
Principal Risk Manager
£77,113/yr
L6
L7
Director of Risk
£114,988/yr
See Career Path

Principal Risk Manager Insights

Read what Principal Risk Manager professionals have to say about their job experiences and view top companies for this career.
Goldman SachsGoldman Sachs
Risk Intern
15 Aug 2021

“Good collaborative spirit and balance of financial and technical projects (which was what I was interested in).”

The ALS GroupThe ALS Group
Risk Management
12 Jul 2021

“I got to meet great people and learn from people who have been in the industry for many years.”

ArupArup
Risk Manager
15 Feb 2021

“Many different ways at getting the same thing done which is good for innovation but bad for efficiency.”

SafraPay USSafraPay US
Assistant Vice President, Risk
24 Sep 2020

“1. Managing Work life balance is little difficult but that's life of a startup.”

Wells FargoWells Fargo
Risk Management
7 Jan 2021

“Subtle racism in Canada where you have no chance to grow due to your skin color.”

DeloitteDeloitte
Risk Intern
24 Sep 2021

“Good for career development and great people”

DBS BankDBS Bank
Risk
4 Mar 2021

“Good work life balance and quite stable”

DeloitteDeloitte
Consultant, Risk Advisory
29 Jan 2021

“You'll feel supported and everyone is really friendly (including partners).”

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Principal Risk Manager Interviews

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