Financial risk analyst : Entry requirements

Although this area of work is open to all graduates and diplomates, a degree or HND in the following subjects may increase your chances:

• finance;
• mathematics;
• statistics;
• accountancy;
• legal studies;
• business;
• economics;
• engineering.

Employers are increasingly looking for degrees in finance, mathematics or statistics. BSc courses in risk management related to finance are available at City University and Glasgow Caledonian University.

Entry without a degree or HND may be possible, but larger employers prefer graduates and so applicants without degrees may find their applications are looked upon less favourably than their graduate counterparts. Without a degree, experience in finance or insurance is usually required, along with professional qualifications.

A postgraduate qualification, such as an MSc in financial-related risk management or financial markets, can also significantly improve your employment prospects, particularly for candidates with an unrelated undergraduate degree.

Entry is also possible through graduate training programmes, especially in many of the larger finance organisations. Specific risk management training is sometimes included in these programmes.

Pre-entry commercial experience can be an asset.

Candidates will need to show evidence of the following:

• strong numeracy and analytical skills;
• good research skills;
• planning/organisational skills and problem-solving ability;
• IT competence/computer literacy;
• negotiation skills;
• written and oral communication skills;
• the ability to explain complex issues and present technical information clearly;
• commercial awareness;
• the ability to work independently and to cope with pressure and responsibility;
• the confidence to relate to a wide range of people and to challenge people when necessary.

Competition for jobs is usually intense. The role of financial risk analyst has grown significantly in recent years and involves the management of increasingly complex financial products. Enhanced regulations and a more risk-conscious banking sector, means organisations are investing more heavily in their risk functions, creating more jobs in this area.

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