Careers in Risk

My colleague Matt Vickers writes:

“Careers in risk are incredibly diverse!  So rather like saying “I want to work in finance” or “I Want to work in development”, there are so many facets to risk you need to think about what kind of role within this broad sector and what your own skill-set and qualification lends itself to.

To give you an idea, here are some areas covered in a recent event I attended:

  • Studying Risk (Postgraduate) – Institute of Hazard, Risk & Resilience, Durham University
  • Enterprise Risk Management / Business Risk – Durham University
  • Natural Hazards and Risks – British Geological Survey
  • Commercial Risk Consulting – Marsh Risk Consulting
  • Disaster Risk Reduction – British Red Cross
  • Security Risk & Crisis Management – Trident Manor Ltd
  • Fire & Rescue – Co Durham & Darlington Fire & Rescue Service
  • Commercial Risk Assurance – RSM

So everything from accounting to fire to aid work, strategic planning, insurance consulting, commercial espionage, earthquakes and terrorism!

Key points:

  • Durham MA and MSc courses are highly regarded (MSc is more on the science/eng./geosciences side off risk; MA more on the human/social/political)
  • BGS are doing a lot of work collaboratively – with UK clients (e.g. Network Rail, Met Office, private clients) and overseas (supporting less developed countries) so ability to work with others, collaborate, plan, cultural awareness etc. important.
  • Insurance risk consulting is a niche but rapidly growing area of work.  Big 4 do it, as does Marsh.  An interesting alternative to management consulting.
  • Security work is increasing with more graduates coming into the profession
  • Fire and rescue is still not a graduate entry career (except for the non-uniformed parts, e.g. HR, finance etc.) but may well become so.
  • RSM have an interesting division that looks at risk and forensic accounting in the context of aid projects, overseas development – called in to look for missing money!  Interesting work, but only a small team (15) and low turnover of staff – those who love it, love it!”

Matt has written a more detailed resource that is available on MyCareerHub

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