Table 1Transition record

corporate risk managertofinancial risk manager

A corporate risk manager already meets 28% of what the financial risk manager role asks for. The move turns on 24 required skills not yet in the profile.

From corporate risk manager

28%

Overlap1

To financial risk manager

16 Skills carried over

24 Required, not held

77.8 Difficulty2

adjacent 0–30

moderate 30–55

substantial 55–75

career change 75–100

this move, 77.8

This move: 77.8 of 100 · career change

1 Share of the financial risk manager role’s weighted skill requirement already met by the corporate risk manager profile. Required skills count in full, supplementary skills at 0.35. Directional: the figure for the reverse move differs. 2 Combines what is missing with how specialised it is, so a gap of general skills scores easier than the same number of narrow ones.

Table 2

Table 2 · What you already bring

Of the 16 skills that carry over, these are the ones fewest other occupations ask for. A financial risk manager role needs them, and most people applying for one will not have them already. This is the part of a corporate risk manager background worth leading with.

Skill the target role also needs Area

already held risk financing techniques business, administration and law
already held create risk reports information skills
already held risk transfer business, administration and law
already held risk identification business, administration and law
already held Monte Carlo simulation natural sciences, mathematics and statistics
already held international financial reporting standards business, administration and law

All 16 carried skills, including the 11 the financial risk manager role treats as required.

Table 3

Table 3 · What you would need to learn

The 48 missing skills fall into 8 areas of the ESCO skill hierarchy, numbered below in the order worth working in: the areas carrying the most required skills come first, and inside each one the required skills sit above the supplementary ones.

Skill to acquire Tier

01 information skills 7 required, 14 supplementary

required, not held create risk maps required
required, not held analyse financial risk required
required, not held analyse market financial trends required
required, not held collect financial data required
required, not held estimate profitability required
required, not held interpret financial statements required
required, not held manage financial risk required

optional, not held develop predictive models optional
optional, not held prepare credit reports optional
optional, not held analyse economic trends optional
optional, not held analyse financial performance of a company optional
optional, not held apply credit stress testing methodologies optional
optional, not held apply statistical analysis techniques optional
optional, not held assess risks of clients' assets optional
optional, not held calculate dividends optional
optional, not held carry out statistical forecasts optional
optional, not held maintain financial records optional
optional, not held manage currency exchange risk mitigation techniques optional
optional, not held prepare financial statements optional
optional, not held produce statistical financial records optional
optional, not held provide support in financial calculation optional

02 business, administration and law 7 required, 3 supplementary

required, not held management consulting required
required, not held financial analysis required
required, not held financial forecasting required
required, not held financial management required
required, not held financial statements required
required, not held securities required
required, not held tax legislation required

optional, not held financial department processes optional
optional, not held treasury management system optional
optional, not held banking activities optional

03 management skills 4 required, 2 supplementary

required, not held create a financial plan required
required, not held enforce financial policies required
required, not held integrate strategic foundation in daily performance required
required, not held strive for company growth required

optional, not held control financial resources optional
optional, not held prevent fraudulent activities optional

04 communication, collaboration and creativity 2 required, 4 supplementary

required, not held advise on financial matters required
required, not held advise on tax policy required

optional, not held negotiate sales contracts optional
optional, not held create solutions to problems optional
optional, not held deliver visual presentation of data optional
optional, not held disseminate information on tax legislation optional

05 working with computers 1 required, 1 supplementary

required, not held digital data processing required

optional, not held perform data analysis optional

06 assisting and caring 1 required

required, not held apply credit risk policy required

2 further areas in the appendix

Table 4

Table 4 · Where to start

The 3 entries a financial risk manager role is least likely to hire without. The ordering is computed from the skill data, not from what pays.

Each entry opens a course search for that skill. Career Overlap earns nothing from these links.

Appendix

Appendix · The rest of the record

All 16 skills that carry over

Skill Type

already held advise on risk management skill
already held analyse external factors of companies skill
already held analyse internal factors of companies skill
already held assess risk factors skill
already held create risk reports skill
already held follow company standards skill
already held liaise with managers skill
already held make strategic business decisions skill
already held risk identification knowledge
already held risk management knowledge
already held risk transfer knowledge
already held Monte Carlo simulation knowledge
already held accounting department processes knowledge
already held financial products knowledge
already held international financial reporting standards knowledge
already held risk financing techniques knowledge

The 2 learning areas not shown above

Skill to acquire Tier

07 information and communication technologies (icts) 1 required

required, not held assessment of risks and threats required

08 social sciences, journalism and information 1 required

required, not held economics required

24 supplementary skills, helpful but not required

Skill to acquire Tier

optional, not held develop predictive models optional
optional, not held financial department processes optional
optional, not held negotiate sales contracts optional
optional, not held prepare credit reports optional
optional, not held treasury management system optional
optional, not held analyse economic trends optional
optional, not held analyse financial performance of a company optional
optional, not held apply credit stress testing methodologies optional
optional, not held apply statistical analysis techniques optional
optional, not held assess risks of clients' assets optional
optional, not held banking activities optional
optional, not held calculate dividends optional
optional, not held carry out statistical forecasts optional
optional, not held control financial resources optional
optional, not held create solutions to problems optional
optional, not held deliver visual presentation of data optional
optional, not held disseminate information on tax legislation optional
optional, not held maintain financial records optional
optional, not held manage currency exchange risk mitigation techniques optional
optional, not held perform data analysis optional
optional, not held prepare financial statements optional
optional, not held prevent fraudulent activities optional
optional, not held produce statistical financial records optional
optional, not held provide support in financial calculation optional

31 held skills the financial risk manager role does not ask for

Skill Type

not needed by the target role ICT network security risks knowledge
not needed by the target role address identified risks skill
not needed by the target role align efforts towards business development skill
not needed by the target role analyse insurance needs skill
not needed by the target role apply crisis management skill
not needed by the target role assess financial viability skill
not needed by the target role assess reliability of data skill
not needed by the target role assess supplier risks skill
not needed by the target role compile appraisal reports skill
not needed by the target role comply with legal regulations skill
not needed by the target role corporate social responsibility knowledge
not needed by the target role corporate sustainability knowledge
not needed by the target role define risk policies skill
not needed by the target role develop company strategies skill
not needed by the target role enterprise risk management knowledge
not needed by the target role estimate impact of risks skill
not needed by the target role forecast organisational risks skill
not needed by the target role identify if a company is a going concern skill
not needed by the target role implement corporate governance skill
not needed by the target role insurance law knowledge
not needed by the target role internal auditing knowledge
not needed by the target role keep updated on the political landscape skill
not needed by the target role key risk indicators knowledge
not needed by the target role manage commercial risks skill
not needed by the target role national generally accepted accounting principles knowledge
not needed by the target role qualitative risk analysis techniques knowledge
not needed by the target role quantitative risk analysis techniques knowledge
not needed by the target role reinsurance knowledge
not needed by the target role risk modelling knowledge
not needed by the target role track key performance indicators skill
not needed by the target role types of insurance knowledge

12 gaps that are knowledge rather than practice

Knowledge gaps usually close through study. Practical skill gaps usually need something you can point at.

Skill to acquire Tier

required, not held management consulting required
required, not held assessment of risks and threats required
required, not held economics required
required, not held financial analysis required
required, not held financial forecasting required
required, not held financial management required
required, not held financial statements required
required, not held securities required
required, not held tax legislation required
optional, not held financial department processes optional
optional, not held treasury management system optional
optional, not held banking activities optional

Index

Other moves recorded from corporate risk manager

Full index of moves from corporate risk manager

Note

How this record was compiled

Both occupations are taken from ESCO, which lists the skills and knowledge each occupation is expected to have and marks every one required or optional. Nothing here is a prediction about hiring, and nothing here knows that a particular employer wants a particular certificate. Treat Table 3 as a starting point for your own research rather than a syllabus. The full method states what these figures can and cannot tell you.