Executive Development Programme Operational Risk Management

The Operational Risk Management (ORM) sector is a growing field in the UK, offering a variety of exciting roles that cater to professionals with diverse skill sets. The following sections delve into the most in-demand job titles in this industry, as well as their respective salary ranges and essential skills. The 3D pie chart below provides a visual representation of the most sought-after positions and their market share. The **Risk Analyst** role, accounting for 45% of the ORM job market, involves quantitative and qualitative analysis to assess and mitigate potential risks and threats to an organisation's operations. Typical responsibilities include developing risk assessment models, monitoring risk levels, and reporting to senior management. Key skills for this position include data analysis, statistical modelling, communication, and project management. The **Operational Risk Manager** role, comprising 25% of the ORM jobs, focuses on overseeing and minimizing operational risks, ensuring regulatory compliance, and implementing risk management strategies. Primary responsibilities include risk identification, assessment, and mitigation, as well as developing and delivering risk management training programs. Essential skills include leadership, strategic thinking, problem-solving, and communication. As a **Compliance Officer**, representing 15% of the ORM positions, you will ensure your organisation adheres to relevant laws, regulations, and standards. Key duties include monitoring and reporting compliance issues, conducting internal audits, and maintaining up-to-date knowledge of regulatory changes. Important skills for this role include attention to detail, analytical thinking, and strong communication skills. With a 10% share, **Internal Auditors** are responsible for evaluating an organisation's internal controls, risk management processes, and governance practices. Primary tasks include planning and executing audits, preparing detailed reports, and recommending improvements. Key skills for this role include data analysis, critical thinking, project management, and communication. Finally, **Data Scientists** make up 5% of ORM job opportunities and apply their expertise in data analysis, machine learning, and statistical modelling to identify, assess, and mitigate potential risks. Critical skills for this role include programming, data visualization, and problem-solving. Overall, the Operational Risk Management field offers a diverse and dynamic range of roles. As the sector continues to grow, professionals with the right skill sets can look forward to exciting career prospects and competitive remuneration packages.