Senior risk managers identify the risks to which a business is exposed and find ways to adequately eliminate or mitigate those risks.Senior risk managers may deal with risk inherent to all areas of their business, from operation risk to financial risk to legal risk. In an operational setting, a senior risk manager works to identify process risks such as business disruption, issues with execution, and systems failures. They also look for poor business practices, workplace safety concerns, theft, and fraud. In a financial setting, the senior risk manager attempts to eliminate market-based risk such as financial risk and supply risk. In the legal setting, a senior risk manager must ensure that the business is in compliance with the various laws and regulations under which it operates.These managers work at different levels of the organization; for example, ensuring that all workers follow employment law or ensuring that executives are satisfying their fiduciary responsibilities. The risk manager may also directly perform and supervise educational workshops to ensure policy compliance.Senior risk managers usually possess a bachelor's degree in economics, finance, statistics, or another closely related subject. To earn the senior position, the risk manager must also have several years of experience. Senior risk managers usually work in a general office setting and may be required to travel in the performance of their duties.

According to recent data from Google, the role of Senior Risk Manager in Canada is projected to experience substantial growth in the market. Over the past 10 years, there has been a consistent increase in demand for professionals in this field, indicating a positive trend. Considering the pace of technological advancements and the increasing complexity of risks faced by organizations, the need for experienced risk managers is expected to continue rising. This growth in demand translates into a promising future for individuals seeking employment opportunities in this field.

How to Learn

As a Senior Risk Manager with 6-9 years of experience in Canada, your main responsibilities include:<ul><li> Develop and implement risk management strategies to identify, assess, and mitigate potential risks across the organization.</li><li> Establish and maintain effective risk management frameworks, policies, and procedures to ensure compliance with regulatory requirements.</li><li> Lead risk assessment activities, including identifying and analyzing risks, evaluating their potential impacts, and recommending appropriate risk mitigation measures.</li><li> Provide guidance and support to cross-functional teams in the development and implementation of risk management initiatives, including training programs and risk mitigation plans.</li></ul>

Roles & Responsibilities

Average take home Salary for a Senior Risk Manager in Canada is around C$112819 per year

Salary Breakup

A Senior Risk Manager will be accountable for managing and implementing the risk management strategy of an organization. They determine the risk that could be posed and their potential impact, and devise strategies to reduce the risk. They work with different departments to ensure that they are in compliance with the regulations of industry and internal policies. They also offer guidance and education for employees on the procedures and methods for managing risk. A Senior Risk Manager has an important role in reducing risks while also ensuring the reputation and stability of the company.

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Senior Risk Manager

Salary Breakup

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