How to Become a Risk Analyst: Australian Careers in Security

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Data Analytics: Transform

In order to compete in the modern market, businesses have to get the best insights from the incoming data streams in order to optimise efficiency and effectiveness of business processes and customer interactions, and this has brought about an explosion in demand for trained data analysts. If you have a talent for connecting the dots and are looking for a rewarding career, then this Data Analytics: Transform course from Academy Xi could be an ideal step to take.

This rigorous online program is designed to furnish you with a comprehensive set of theoretical and practical skills essential for becoming a proficient and well-rounded Data Analyst. You will cover essential topics such as Python fundamentals & descriptive statistics; loading, cleaning, and visualising data for exploration; and regression modelling and by the end of the course you will be able to confidently step into one of many different analyst roles available across all sectors.

This course is delivered 100% online with full support from Academy Xi’s training staff and unlimited one-on-one tutoring, and can be completed in 15 weeks with around 15-20 hours of study per week.

You’ll graduate:

Job ready
Mentor & cohort supported (unlimited 1:1 mentoring from industry experts)
With a final project industry showcase
With a job guarantee and career support
With an industry recognised certificate

Online

Analyst, Business Analyst, Business Systems Analyst, Customer Analyst, Data Analyst, Financial Analyst, Intelligence Analyst, Logistics Analyst, Market Research Analyst, Risk Analyst, Strategic Analyst

Price may vary

15 weeks, 15-20 hours per week

Data Analytics: Elevate

If you are currently working in a role that involves analytics in any sector, and are looking for the best way to polish up your skills in order to progress your career, then this Data Analytics: Elevate course from Academy Xi could be an ideal option for you.

Data Analytics involves the systematic sourcing, cleansing, and analysis of raw data to discern significant patterns, trends, and insights. The derived insights from the data serve the purpose of addressing a diverse range of questions and providing solutions to complex business problems, and hence trained data analysts are in high demand across the board. This course is specifically designed to teach you the latest data analysis processes and techniques, and teaches you how to deploy different tools to address various problems. Choose a level of coding suited to what you’re hoping to achieve, with either a ‘low code’ route using Excel and SQL, or more advanced approach which includes Python and SQL. You’ll finish with a custom analytics dataset project that showcases your new skills.

This course is delivered 100% online with full support from Academy Xi’s training staff, and is completely self paced – you will need to invest 60-80 hours over a six month period.

You will also get access to an exclusive Digital Skills Masterclass webinar program to learn critical digital skills from industry experts, grow your network and get advice from graduates now working in the field.

Online

Analyst, Business Analyst, Data Analyst, Database Administrator, Database Analyst, Database Manager, Database Support Programmer, Intelligence Analyst, Logistics Analyst, Risk Analyst, Security Analyst, Small Business Analyst

Price may vary

6 months, 60-80 hours

Cyber Security Impact Bootcamp

Transform your career with the Cyber Security Impact Bootcamp from Upskilled and ThriveDX. This beginner-friendly program prepares you for entry-level cybersecurity jobs with hands-on experience, best-in-class content, and flexible learning formats. Gain the technical and practical skills needed to excel in the cybersecurity field through interactive lessons, real-world examples, and comprehensive support services.

Enrol in the Cyber Security Impact Bootcamp to master the essentials of cybersecurity, from foundational concepts to advanced topics. Delivered by ThriveDX, this accelerated training program uses military training methodologies and the NICE-NIST 800-181 framework. You’ll work with industry tools like Wireshark, Splunk, and Kali Linux, ensuring you’re well-equipped for a successful career. Perfect for those with little or no IT background, aspiring professionals, and anyone seeking comprehensive, hands-on cybersecurity training.

Online

Cyber Security Officer, Information Security Analyst, Risk Analyst

Price may vary

Up to 6 Months

On this page

What is a Risk Analyst?

What will I do?

What skills do I need?

Resources

What is a Risk Analyst?

The career of a Risk Analyst is both dynamic and rewarding, offering professionals the opportunity to play a crucial role in safeguarding organisations against potential threats. Risk Analysts are responsible for identifying, assessing, and mitigating risks that could impact a company’s operations, reputation, or financial standing. They work across various industries, including finance, healthcare, and technology, making their expertise highly sought after in today’s complex business environment.

In their day-to-day activities, Risk Analysts engage in a variety of tasks that require analytical thinking and attention to detail. They collect and analyse data to identify potential risks, develop risk assessment models, and create strategies to minimise those risks. This often involves conducting thorough research on market trends, regulatory changes, and internal processes. By collaborating with different departments, they ensure that risk management practices are integrated into the organisation’s overall strategy, fostering a culture of proactive risk awareness.

Moreover, Risk Analysts are instrumental in preparing reports and presentations for senior management, providing insights that guide decision-making. They may also conduct training sessions to educate staff on risk management policies and procedures, ensuring that everyone in the organisation understands their role in maintaining a secure and compliant environment. This aspect of the job not only enhances the analyst’s communication skills but also contributes to a collaborative workplace culture.

Overall, a career as a Risk Analyst is an excellent choice for those who enjoy problem-solving and strategic thinking. With the increasing importance of risk management in business operations, professionals in this field can expect strong job security and opportunities for advancement. As organisations continue to navigate an ever-changing landscape, the demand for skilled Risk Analysts will only grow, making it a promising career path for aspiring professionals.

Career snapshots For Risk Analysts

Intelligence and Policy Analysts play a crucial role in collecting and analysing data to inform government and commercial policies. This career is characterised by a strong demand for analytical skills and a deep understanding of policy implications.

Average Age: 39 years
Gender Distribution: 64% female
Average Hours Worked: 41 hours per week
Median Weekly Earnings: $1,936
Unemployment Rate: Low, with a strong demand for skilled analysts
Current Employment: Approximately 38,500 individuals are employed in this role
Projected Growth: An annual increase of about 2,600 positions is expected

This profession is particularly suited for individuals with strong research and communication skills, as they often liaise with various stakeholders to develop effective policies. The role is predominantly found in public administration and safety, as well as professional, scientific, and technical services.

As the need for informed policy-making continues to grow, the demand for Intelligence and Policy Analysts is expected to remain strong, making it a promising career choice for those interested in shaping the future of government and business operations.

Source: ABS, Labour Force Survey, 2023; ANZSCO 2244.

What will I do?

A Risk Analyst plays a crucial role in identifying, assessing, and mitigating risks that could potentially impact an organisation’s operations and objectives. By analysing data and trends, they provide insights that help businesses make informed decisions and develop strategies to manage uncertainties. This position requires a keen analytical mind, attention to detail, and the ability to communicate complex information clearly to stakeholders.

Identifying Risk Factors – Assessing potential risks that could affect the organisation’s financial health and operational efficiency.
Data Analysis – Collecting and analysing data to identify trends and patterns that may indicate risk.
Risk Assessment – Conducting thorough evaluations of risks and their potential impact on the organisation.
Reporting Findings – Preparing detailed reports and presentations to communicate risk assessments and recommendations to management.
Developing Risk Mitigation Strategies – Collaborating with teams to create strategies that minimise identified risks.
Monitoring Risk Management Plans – Continuously reviewing and updating risk management plans to ensure effectiveness.
Compliance Checks – Ensuring that the organisation adheres to relevant laws, regulations, and industry standards.
Stakeholder Engagement – Liaising with various departments and stakeholders to gather information and promote a risk-aware culture.
Training and Awareness – Providing training and resources to staff on risk management practices and policies.
Scenario Analysis – Conducting simulations and scenario analyses to evaluate the potential impact of various risk factors.

What skills do I need?

A career as a Risk Analyst requires a diverse set of skills that blend analytical thinking with effective communication. Professionals in this field must possess strong research abilities to gather and interpret data, enabling them to assess potential risks and develop strategies to mitigate them. Critical thinking is essential, as Risk Analysts must evaluate complex information and make informed decisions that can significantly impact their organisation’s operations. Additionally, proficiency in data analysis tools and software is often necessary to analyse trends and forecast potential risks accurately.

Moreover, excellent communication skills are vital for Risk Analysts, as they must convey their findings and recommendations clearly to stakeholders, including management and clients. This role also demands a keen attention to detail, ensuring that all data collected is accurate and reliable. Understanding regulatory requirements and industry standards is crucial, as Risk Analysts often work within frameworks that govern compliance and risk management. Overall, a successful Risk Analyst combines technical expertise with interpersonal skills to navigate the complexities of risk assessment and management effectively.

Skills/attributes

Analytical skills
Attention to detail
Strong communication skills
Problem-solving abilities
Knowledge of risk assessment methodologies
Proficiency in data analysis tools and software
Understanding of financial principles and practices
Ability to work under pressure
Team collaboration skills
Critical thinking
Research skills
Time management
Adaptability to changing environments
Ethical judgement and integrity
Familiarity with regulatory requirements

Resources

NATIONAL

QLD

VIC

ACT

TAS

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How to Become a Risk Analyst: Australian Careers in Security

What is a Risk Analyst?

Career snapshots For Risk Analysts

What will I do?

What skills do I need?

Skills/attributes

Resources

Career Outcomes