Texas Career Check. Education & Career Planning

Occupation Summary

Financial Risk Specialists

O*NET 13-2054.00

Description:

Analyze and measure exposure to credit and market risk threatening the assets, earning capacity, or economic state of an organization. May make recommendations to limit risk.

Annual Wages:
$101,560.00
Employment Rate:
Employment is expected to increase by 22.27%.
Education Level:
Bachelor's Degree. According to O*Net, the majority of people employed in this occupation have this level of education.
Endorsement:
Business and Industry

  1. Analyze areas of potential risk to the assets, earning capacity, or success of organizations.
  2. Analyze new legislation to determine impact on risk exposure.
  3. Conduct statistical analyses to quantify risk, using statistical analysis software or econometric models.
  4. Confer with traders to identify and communicate risks associated with specific trading strategies or positions.
  5. Consult financial literature to ensure use of the latest models or statistical techniques.
  6. Contribute to development of risk management systems.
  7. Determine potential environmental impacts of new products or processes on long-term growth and profitability.
  8. Develop contingency plans to deal with emergencies.
  9. Develop or implement risk-assessment models or methodologies.
  10. Devise scenario analyses reflecting possible severe market events.
  11. Devise systems or processes to monitor validity of risk assessments.
  12. Document, and ensure communication of, key risks.
  13. Draw charts and graphs, using computer spreadsheets, to illustrate technical reports.
  14. Evaluate and compare the relative quality of various securities in a given industry.
  15. Evaluate the risks and benefits involved in implementing green building technologies.
  16. Evaluate the risks related to green investments, such as renewable energy company stocks.
  17. Gather risk-related data from internal or external resources.
  18. Identify key risks and mitigating factors of potential investments, such as asset types and values, legal and ownership structures, professional reputations, customer bases, or industry segments.
  19. Inform financial decisions by analyzing financial information to forecast business, industry, or economic conditions.
  20. Interpret data on price, yield, stability, future investment-risk trends, economic influences, and other factors affecting investment programs.
  21. Maintain input or data quality of risk management systems.
  22. Meet with clients to answer queries on subjects such as risk exposure, market scenarios, or values-at-risk calculations.
  23. Monitor developments in the fields of industrial technology, business, finance, and economic theory.
  24. Prepare plans of action for investment, using financial analyses.
  25. Produce reports or presentations that outline findings, explain risk positions, or recommend changes.
  26. Provide statistical modeling advice to other departments.
  27. Recommend investments and investment timing to companies, investment firm staff, or the public.
  28. Recommend ways to control or reduce risk.
  29. Review or draft risk disclosures for offer documents.
  30. Track, measure, or report on aspects of market risk for traded issues.


National Industry Employment Patterns


Industry % of Financial Risk Specialists employed Annual Growth Rate
Insurance carriers 8.8 0.56
Nondepository credit intermediation 6.3 0.78
Agencies, brokerages, and other insurance related activities 5.9 1.09
Accounting, tax preparation, bookkeeping, and payroll services 2.9 0.00
Management, scientific, and technical consulting services 2.4 1.34


Labor Market Information


2024 Statewide average hourly wage $48.83
2024 National average hourly wage $57.66
2022 National employment 58,900
2022 Texas employment 3,996
Texas projected employment by 2032 4,886
Texas projected annual employment and Turnover openings through 2032 376




TEXAS COUNTY MAP BY WORKFORCE DEVELOPMENT AREA
* Due to confidentiality rules, not all regions may have the data displayed. The sum of all the regions may not be equal to the state total.





Other Activities


No work importance values found.



Tools

Desktop calculator: 10-key calculators;
Desktop computers: Desktop computers;
Laser fax machine: Laser facsimile machines;
Notebook computers: Notebook computers; Laptop computers;
Personal computers: Personal computers;
Photocopiers: Photocopying equipment;
Scanners: Computer data input scanners;
Special purpose telephones: Multi-line telephone systems;
Tablet computers: Tablet computers;


Technology

Accounting software: Fund accounting software; Intuit QuickBooks; Sage 50 Accounting; Tax software;
Analytical or scientific software: StataCorp Stata; The MathWorks MATLAB; Ward Systems Group GeneHunter; Ward Systems Group NeuralShell Predictor; Wolfram Research Mathematica; SAS; SAS JMP; Palisade Evolver; Palisade StatTools; Pattern recognition software; Insightful S-PLUS; Neural network modeling software; IBM SPSS Statistics; Genetic algorithm software; Keypoint DataDesk; Mathematical software; Analyse-it; Aptech Systems GAUSS; Decisioneering Crystal Ball; Data visualization software;
Business intelligence and data analysis software: IBM Cognos Impromptu; Oracle Business Intelligence Enterprise Edition; MicroStrategy; Qlik Tech QlikView; Tableau;
Charting software: TickQuest NeoTicker; Montgomery Investment Technology Utility XL;
Cloud-based data access and sharing software: Microsoft SharePoint;
Configuration management software: Perforce Helix software;
Content workflow software: Atlassian JIRA;
Customer relationship management CRM software: Salesforce software;
Data base management system software: Apache Hive; Apache Pig; Teradata Database;
Data base reporting software: Reporting software; SAP Crystal Reports; Microsoft SQL Server Reporting Services SSRS;
Data base user interface and query software: Oracle Database; Microsoft SQL Server; ServiceNow; Amazon Web Services AWS software; FileMaker Pro; IBM Lotus Approach; Microsoft Access; Structured query language SQL; Yardi software;
Development environment software: Microsoft Azure software; Ruby; Microsoft Visual Basic; Microsoft Visual Basic for Applications VBA;
Document management software: Microsoft Office SharePoint Server MOSS;
Electronic mail software: Microsoft Exchange; Microsoft Outlook; IBM Notes;
Enterprise resource planning ERP software: Microsoft Dynamics; Microsoft Dynamics GP; Management information systems MIS; Oracle Fusion Applications; Oracle Hyperion; Oracle JD Edwards EnterpriseOne; Oracle PeopleSoft; Oracle PeopleSoft Financials; SAP Business Objects; SAP BusinessObjects Data Integrator; SAP software; NetSuite ERP; SSA Global Infinium Financial Management;
Enterprise system management software: IBM Power Systems software;
Expert system software: Ivorix Neurostrategy Finance; Matheny Pattern Forecaster Plus; NeuroSolutions for MatLab;
Financial analysis software: NeuroSolutions Trading Solutions; OptionVue Options Analysis; Oracle E-Business Suite Financials; Moss Adams Profit Mentor; Mutual fund analysis software; MoneySoft Corporate Valuation; Monte Carlo simulation software; Montgomery Investment Technology Bonds XL; Montgomery Investment Technology Exotics XL; Montgomery Investment Technology FinTools; Montgomery Investment Technology Options XL; Montgomery Investment Technology QuoteTools; Montgomery Investment Technology Risk XL; Montgomery Investment Technology SigTools; Palisade Bond @nalyst; Peer-to-Peer Financial Analysis; Quantifying marketability discount QMD modeling software; Pi Blue OptWorks Excel; Portfolio management software; Pricing software; Securities analysis software; Spreadware Business Financial Analysis; Spreadware Business Valuator; Spreadware Pro Forma; RiskMetrics Group WealthBench; MergerStat Control Premiums; MergerStat Price to Earnings Ratios; Market forecast software; Longview Consolidation; Longview Performance Management Platform; Longview Solutions Khalix; Leading Market Technologies EXPO; Innova Financial Solutions Derivatives Expert; Genetic algorithm optimization software; Harland Financial Solutions DecisionPro; I-flex Solutions Reveleus Investment Performance Measurement; Financial modeling software; FinEng Solutions PerfoRM; FinEng Solutions Quantis; Fractal pattern analysis software; DealMaven Comparable Company Valuation Analysis; DealMaven M&A Accretion/Dilution One-Pager; DealMaven Modeling ToolPack for Excel; Delphi Technology; Derivatives Imagine Trading System; Derivicom FinOptions XL; Economic forecasting software; Experian Credinomics; Express Business Valuations; Advanced Portfolio Technologies Report Builder; Advanced Portfolio Technologies Simulator; AnalyzerXL; Annuities analysis software; BizBench; BizPricer; Business Forecast Systems Forecast Pro; Aspen Graphics Technical Analysis Software; Steele Mutual Fund and Variable Annuity Expert; SunGard BancWare; SunGard Kiodex Risk Workbench; Tetrahex Fractal Finance; TechHackers Convertible Bond @nalyst; TechHackers Credit @nalyst; TechHackers Exotic @nalyst; TechHackers Financial @nalyst; TechHackers IRO @nalyst; TechHackers MBS @nalyst; TechHackers Swap @nalyst; Tips Standard Securities Calculation Bond Analytics Module; Tips Standard Securities Calculation Mortgage-Backed Analytics Module; Trendsetter Software ProAnalyst; Unlimited Learning Resources Valusource Pro; ValuSource BIZCOMPS; Wolfram Research Mathematica Finance Essentials; Wolfram Research Mathematica UnRisk Pricing Engine; Whitebirch Software Projected Financials; Wolfram Research Derivatives;
Human resources software: ADP Workforce Now; Human resource management software HRMS;
Information retrieval or search software: LexisNexis; dailyVest Investment Personalization Platform; Factiva; S&P Capital IQ; Ward Systems Group NeuroShell Trader; TradeTools Financial Market Databases; TradeTools Monthly U.S. Economic Database; Standard & Poor's Capital IQ Compustat;
Internet browser software: Web browser software;
Object or component oriented development software: Python; R; Perl; C++;
Office suite software: Microsoft Office software;
Operating system software: Linux; UNIX;
Presentation software: Google Slides; Apple Keynote; DealMaven PresLink for PowerPoint and Word; Microsoft PowerPoint;
Process mapping and design software: Microsoft Visio;
Project management software: Oracle Primavera Enterprise Project Portfolio Management; Microsoft Project;
Sales and marketing software: Marketo Marketing Automation;
Spreadsheet software: Microsoft Excel; IBM Lotus 1-2-3; Corel QuattroPro; Apple AppleWorks;
Transaction security and virus protection software: McAfee;
Word processing software: Google Docs; Microsoft OneNote; Microsoft Word; Report generation software;


Related O*NET occupational titles for Financial Risk Specialists include:
  • 15-2051.01 Business Intelligence Analysts
  • 13-2041.00 Credit Analysts
  • 13-2051.00 Financial and Investment Analysts
  • 13-2061.00 Financial Examiners
  • 11-3031.00 Financial Managers
  • 13-2099.01 Financial Quantitative Analysts
  • 11-3031.03 Investment Fund Managers
  • 13-1111.00 Management Analysts
  • 13-2052.00 Personal Financial Advisors
  • 41-3031.00 Securities, Commodities, and Financial Services Sales Agents


Sources of Additional Information
  • For more information about licensure for financial analysts, visit: Financial Industry Regulatory Authority (FINRA)
  • For more information about training and certification, visit: CFA Institute
  • For more information about certifications in financial analysis, visit: Global Academy of Finance and Management

    • CareerOneStop

  • For a career video on financial analysts, visit: Financial Analysts
  • Financial Risk Specialists
  • Financial and Investment Analysts
    • Contact Texas Workforce Commission
    Labor Market and Career Information  |  101 E. 15th Street, Annex Room 0252  |  Austin, Texas 78778
    Official Website  |  1-800-822-PLAN (7526)  |  512.936.3200

    ** The information in this report may be derived from many sources like O*NET, BLS (Bureau of Labor Statistics), OOH (Occupational Outlook Handbook), and Career One Stop.