Risk Manager Job Description: Top Duties and Qualifications

A Risk Manager, or Risk Assessment Manager, is responsible for determining the types of risks that could affect a company’s financial health, legal compliance or reputation. Their duties include communicating with company leadership personnel, Department Managers or legal staff, reviewing operational procedures, employee data or market trends and presenting their findings to upper management personnel.

Build a Job Description
Are you a Job Seeker? Find Jobs

Risk Manager Duties and Responsibilities

As people who manage company risks, Risk Managers have the following duties and responsibilities:

  • Review and give an assessment of all suspicious account activity 
  • Conduct research into possible fraud and report on any findings
  • Investigate potential risks and assess those risks
  • Report on any risks to the risk management director
Build a Job Description
Are you a Job Seeker? Find Jobs

Risk Manager Job Description Examples

 

Example 1

Applied Risk Solutions is seeking an experienced Risk Manager to join our team!

Location: Atlanta, GA 30339

The Risk Manager is responsible for handling a variety of claims while identifying high-risk indicators to better protect our clients.

Responsibilities:
  • Manage detailed incident investigation, loss mitigation, and the timely resolution of a variety of claims relating to General Liability, Workers Compensation, Professional Liability, Premises Liability and Automobile claims to specifically include Hired Non-Owned (HNOA) Coverage.
  • Analyze complex claims / risks information to effectuate creative and timely problem-solving solutions.
  • Identify risk factors for clients and assist with client training on awareness and avoidance of risks.
  • Prepare reports outlining loss data, open claim summaries, and other documentation as needed.
  • Input claims / risk information into RMIS system in an accurate and timely manner.
  • Attend loss review meetings upon renewal or as determined by claims activity.
  • Build relationships with clients and carrier partners.
  • Communicate with plaintiff attorneys, carrier legal counsels, and other experts.

    Qualifications:
  • Active Adjusters License (preferred)
  • Claims adjustment and handling experience including Self Insured Retentions (preferred)
  • Excellent communication skills, both verbal and written communication (required)
  • Effective negotiation and time management skills
  • Full understanding of the litigation process
  • Experience working with insurance policies
  • Solid research skills using the internet and first-person interviews
  • Ability to handle confidential information appropriately
  • Adaptable to change
  • Possess a strong work ethic, positive attitude and be a team player

    Benefits:

    This role is remunerated based upon experience and contribution to the organization through a combination of salary and annual bonus.The agency also provides full group health insurance, 401K with match and supports the pursuit of industry designations as well as continuing education to maintain designations and licenses.

    Job Type: Full-time

    Benefits:
  • 401(k)
  • 401(k) matching
  • Dental insurance
  • Health insurance
  • Paid time off
  • Vision insurance
    Physical Setting:
  • Office
    Schedule:
  • Monday to Friday

    License/Certification:
  • Adjusters License Location: One location
    • Show less 
    Show more 

    Example 2

    The Clinical Risk Manager is responsible for providing support to the Director of Quality, Quality department and Executive Leadership. Working collaboratively with members of the Quality department, Management Teams and the Professional Staff, the Clinical Risk Manager is responsible for performing duties that support the risk management objectives, performance improvement, peer review support, and other quality review duties. The Clinical Risk Manager, in collaboration with the Director of Quality, Vice President of Patient Care Services, the Chief Medical Officer and the Chief Executive Officer, promotes and monitors patient safety initiatives throughout the Hospital.

    The Clinical Risk Manager is responsible to the Director of Quality for assisting with investigating adverse patient outcomes, analyzing events, formulating safety plans, participating in policy review, supporting peer review duties and committee, participating in Sentinel Event investigations, facilitating root cause analysis and/or focused reviews or debriefs, claims investigations, and assisting with responses to regulatory agencies. Consults with staff, leadership, physicians, risk management consultants, legal teams, and other risk management, quality and regulatory organizations to ensure application of best practice procedures, policy alignment, and our compliance with rules and regulations in order to reduce risk for patient harm, monitor and maintain quality, safe patient care. Additionally, the Clinical Risk Manager will assist the Quality department and Director of Quality with departmental programs, projects, initiatives, or activities as directed. Maintains current knowledge of ACHC, state and CMS standards and assists the organization in maintaining compliance with all applicable standards.

    Job Requirements
    Knowledge of/Skill/Ability to: Experience in healthcare, healthcare quality assurance, risk management and performance improvement are preferred. Demonstrated knowledge of chart reviews looking for risk issues and a basic understanding of risk management. Knowledge of healthcare safety best practices and procedures. Ability to maintain complete confidentiality of all work assignments. Expert skill in gathering, analyzing, and evaluating data. Demonstrates good organization and communication skills. Able to work independently with limited supervision.

    Highly developed interpersonal, leadership, and team building skills with the ability to work effectively with medical, nursing, ancillary, and administrative staff, as well as public and external agencies. Excellent customer service recovery skills with patients and family members. Proficient skill in communicating with a wide variety of people from diverse backgrounds. Ability to use Microsoft Office Suite as well as the ability to utilize other forms of software. Current knowledge of ACHC, state and CMS standards preferred.

    License/Certification
    RN preferred
    Current AHA BLS completion required
    CPHRM (Certified Professional in Healthcare Risk Management) or prior risk-related education preferred. Required to obtain certification within one year.

    Education and/or Experience
    Minimum Education: Bachelor’s degree in a healthcare related field. Comparable experience and training may be considered. RN preferred. Previous experience with quality or performance improvement initiatives preferred. Clinical experience is required. Must have strong interpersonal skills and a demonstrated ability to work collaboratively. Experience with accreditation survey process preferred. Minimum of five years in acute care hospital setting or medical center services required. Minimum of three years in risk management related field preferred.

    Benefits:
    CMH offers 100% employer-paid health care benefits with very affordable dependent premiums, including:
    - Vision insurance.
    - Prescription coverage.
    - Dental and orthodontics insurance. Prescription coverage.

    Some of the other great benefits of being a CMH caregiver include:
    - 70% discount on hospital services for employee and insured dependents (you pay only 30% after insurance).
    - Up to 28 days paid time off for full-time employees to cover vacation, sick time and holidays.
    - Retirement savings plans, including generous matching and profit share contributions.
    - Shift differentials for evenings, weekends and nights.
    - Tuition reimbursement.
    - Complimentary access to our hospital gym.
    - Employer-paid life insurance, with optional life insurance for dependents.
    - Pharmacy, central supply, gift shop, coffee stand and cafe discounts.
    - Employee Assistance (EAP) counseling on a variety of topics.
    - Paid compassionate leave (bereavement leave).
    - Paid jury duty service.
    - AFLAC options.
    - Optional pet, home and auto insurance.
    - Discounts with local business community partners.
    - Childcare subsidies for those that qualify
    - Employer-paid Long-Term Disability (LTD)

    Job Type: Full-time

    Pay: $62,579.00 - $176,766.00 per year

    Benefits:
  • 401(k)
  • 401(k) matching
  • Dental insurance
  • Employee assistance program
  • Employee discount
  • Flexible schedule
  • Flexible spending account
  • Health insurance
  • Health savings account
  • Paid time off
  • Parental leave
  • Professional development assistance
  • Referral program
  • Relocation assistance
  • Retirement plan
  • Vision insurance
    Schedule:
  • 8 hour shift
  • Monday to Friday

    Ability to commute/relocate:
  • Astoria, OR 97103: Reliably commute or planning to relocate before starting work Location: One location
    • Show less 
    Show more 

    Example 3

    Are you a Registered Nurse wiht long term care experience looking for a change of pace? A Quality Assurance Nurse looking to make a difference in the lives of our seniors? A nurse paralegal looking to move into a consulting role?

    The Clinical Risk Manager provides clinical recommendations to skilled nursing facilities as part of the quality assurance function, to identify areas for potential improvement in resident care. Under the direction of the General Counsel, the Clinical Risk Manager provides clinical review and analysis of medical records as related to current and potential litigation activity and provides other clinical support to the General Counsel, as needed.

    Duties & Responsibilities:
  • Responsible for advising and supporting SNFs in connection with investigations through quality improvement initiatives and interventions.
  • Plans, directs and coordinates the control of private health information as required by HIPAA regulations as it relates to record release.
  • Works with facility management staff and facility consultants to promote the facility's clinical and quality improvement operations.
  • Performs clinical chart and record reviews and follow up with facility for requested information regarding investigations.
  • May develop and conduct periodic training and orientation for facility staff as appropriate.
  • Maintains a working knowledge and ensures compliance with all governmental regulations and company Quality Assurance standards.
  • Participates in any regularly scheduled calls or meetings in connection with the clinical risk management and/or Quality Assurance functions.
  • Assists in updating and maintaining legal tracking logs.
  • Develops positive relationships on behalf of the company with third parties, as applicable.

    Qualifications:
  • Possesses a Bachelors Degree and a current Nursing License.
  • Possesses a minimum five (5) year applicable management or comparable experience in a long-term care setting.
  • Possesses strong knowledge regarding state, federal, and local regulations as they pertain to long-term care.

    EEO/R/G/V/D

    Job Type: Full-time

    Physical Setting:
  • Long term care
    Schedule:
  • Monday to Friday

    Ability to commute/relocate:
  • Orchard Park, NY 14127: Reliably commute or planning to relocate before starting work (Required)

    Experience:
  • Nursing: 1 year (Preferred)

    License/Certification:
  • BLS Certification (Preferred)
  • RN Location: One location
    • Show less 
    Show more 

    What Does a Risk Manager Do?

    Risk Managers typically work for corporations across industries to ensure they make smart business decisions to promote their company’s longevity. They work closely with risk management personnel and company Executives to identify risks and develop strategies to prevent potentially harmful activities or practices. Their job is to uphold their employer’s success by thinking about how current company practices could affect their employer in the future. They may also be responsible for investigating instances of fraud or unethical work practices to determine whether their employer needs to take immediate action.

    Risk Manager Skills and Qualifications

    Risk Managers must have specific skills to work at their jobs. Some Risk Managers have certifications in the financial or accounting industries:

    • Financial knowledge: A Risk Manager is someone who should have a financial background with working with assets, markets, resources and funding.
    • Computer skills: Risk Managers should be able to work with financial databases.
    • Communication skills: Risk Managers need to talk with stakeholders about risks and how to stop risks.
    • Detail-oriented: A Risk Manager should be meticulous about keeping records and recording risk data.
    • Analytical skills: A risk assessment manager should have skills involving data use, statistics and math to be able to manage data and financial information. 
    • Enterprise resource planning: Risk Managers should be able to use the resources at their disposal wisely and frugally.

    Risk Manager Salary Expectations

    The average salary for a Risk Manager in the United States is $92,292 per year. This is the average, but compensation varies depending on bonus packages. The salary estimates are based on salaries submitted anonymously to Indeed by Risk Manager employees, users, as well as being collected from job advertisements on Indeed.

    Risk Manager Education and Training Requirements

    Risk Manager education and training requirements usually require a Bachelor’s degree, with a master’s preferred for most positions. The degree fields should be finance, business administration, accounting or another business major. Special fields may require further certification such as in the healthcare field. There are other certifications available for Risk Managers to pursue their education and career paths.

    Risk Manager Experience Requirements

    Because a Risk Manager works with finances, it is useful for Risk Managers to have experience in business or finance before they become Risk Managers. Experience in business or finance can help a Risk Manager understand the needs of any business client. A Risk Manager should have more than five years of risk assessment and abatement experience in the business administration, finance or accounting fields. It is useful if a Risk Manager has project management and supervisory experience during a Risk Manager career to know how to work with people and manage risk assessment teams for risk assessment and abatement.

    Risk Manager Similar Positions

    If Risk Manager doesn’t seem to be the right fit, these similar jobs may also be what you’re looking for: 

    Ready to Hire a Risk Manager? Build a Risk Manager Job Description

    Frequently asked questions about Risk Managers

     

    What is the difference between a Risk Manager and a Safety Manager?

    The difference between a Risk Manager and a Safety Manager is seniority, education, scope of job responsibilities and typical work environments. For example, Risk Managers usually earn a bachelor’s degree in finance, business administration or economics. In contrast, Safety Managers usually earn a bachelor’s degree in occupational health and safety. Because Risk Managers have more of a business background, their job encompasses workplace safety, operational procedures, financial decisions and legal compliance. 

    In contrast, Safety Managers focus specifically on maintaining employee safety by creating policies and procedures that align with worker safety laws and environmental factors. Risk Managers also differ from Safety Managers as they typically work in an office setting. In contrast, Safety Managers work on construction sites or other areas like manufacturing plants where employee accidents are more likely to occur.

     

    What are the daily duties of a Risk Manager?

    On a typical day, a Risk Manager starts by checking their email and voicemail. They respond to time-sensitive messages from company employees or external sources and review their schedule. Throughout the day, Risk Managers participate in meetings with upper management personnel and present their findings to the group. During downtime in their office, Risk Managers work on one or more research projects to weigh the risks of a particular business initiative or procedure. They also visit with company departments to obtain documents and interview employees about their job duties.

     

    What qualities make a good Risk Manager?

    A good Risk Manager has an investigative mindset, which inspires them to ask important questions, review company information and compare their findings to local, state and national regulations or market research. They genuinely care about the success and longevity of their company and aren’t afraid to voice their concerns about business decisions or procedures. Further, a good Risk Manager has excellent interpersonal communication and understands how to adjust their communication tactics to speak with people with different personalities and professional backgrounds.

     

    Who does a Risk Manager report to?

    Risk Managers usually report to the Risk Management Director, or Director of Risk Management within large corporations. In smaller companies, the Risk Manager may report directly to the Chief Executive Officer (CEO) or the Chief Operating Officer (COO). These professionals act as a point of communication for Risk Managers to report instances of fraud or troublesome activities that they believe to be a risk to the company. It’s company leadership’s responsibility to take that information and decide whether to act on it.

    Job Description Examples

    Need help writing a job description for a specific role? Use these job description examples to create your next great job posting. Or if you’re ready to hire, post your job on Indeed.

    A-C D-H I-L M-P Q-S T-Z
    No search results found

      *Indeed provides this information as a courtesy to users of this site. Please note that we are not your recruiting or legal advisor, we are not responsible for the content of your job descriptions, and none of the information provided herein guarantees performance.