How to Become a Risk Manager: Australian Careers in Finance

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BSB50820 & BSB50420

Double Diploma of Project Management + Leadership & Management

Looking for a way to kickstart your business management career? Why not get the best of both worlds, tackle two disciplines at once, and double your job prospects right out of the gate? That’s what’s on offer with the Double Diploma of Project Management (BSB50820) + Leadership & Management (BSB50420) from the College for Adult Learning.

This comprehensive double diploma course introduces you to the exciting world of project management, while also improving your ability to lead a team through leadership and management-focused units. You’ll gain valuable skills in managing the time, scope, quality and cost of a project, as well as covering key areas of leadership such as accountability, risk management, performance management, optimisation and target setting. All in all, it’s a well-rounded course that will equip you with a wide variety of skills to see you to success in the business world.

You’ll learn to:

Develop, manage and execute project plans
Lead and performance manage a project team
Manage large budgets and financial plans across multiple projects
Manage small to large projects using the PMBOK 10 knowledge areas

Delivered entirely online, this course can be completed at your own pace. Studying full-time, you can have a double qualification in just 12 months (or 16–18 months part-time).

CAL has received endorsement for our Diploma of Project Management (BSB50820) course from the Australian Institute of Project Management (AIPM), the premier, longest-serving body for project management in Australia.

Having passed a rigorous review by AIPM auditors, adding an AIPM-endorsed diploma to your repertoire demonstrates your commitment to project management professional development and the elevation of industry practices.

So what are you waiting for? Dive headfirst into the next stage of your career as a business leader!

Online

Project Coordinator, Project Manager, Risk Manager

Price may vary

12 months full-time; 18-20 months part-time

BSB50920

Diploma of Quality Auditing

The College of Adult Learning’s Diploma of Quality Auditing (BSB50920) is perfect for professionals who want to get qualified and be able to lead and manage successful quality audits. Our course has been designed to provide you with all the skills and tools necessary to manage, implement and deliver quality measurement procedures and end-to-end audits, while placing a focus on continuous improvement. Not only will you have the ability to ensure compliance and ISO standards are met, but you’ll also gain essential transferable skills that can be used across multiple industries from medical, food safety, to aged care and finance – just to name a few.

What you’ll learn

Manage business risk and interpret compliance requirements
Develop and lead quality audits and ongoing improvement plans
Ensure compliance with ISO standards
Manage project quality and facilitate continuous improvement

Online

Internal Auditor, Quality Assurance Inspector, Quality Manager, Risk Manager

Price may vary

Part-time approx. 14-16 months; Full-time approx. 12 months

BSB50820

Diploma of Project Management (Specialising in Construction)

The Diploma of Project Management (Specialising in Construction) (BSB50820) from The College of Adult Learning is designed to provide graduates with the critical project management skills they need to succeed in planning, managing and delivering projects on time and to budget, with a focus on skills required for the construction industry, including WHS management and preparing contracts.

In this course you will develop skills to:

Manage projects costs and timing to ensure projects are finished on time and to budget
Manage project information to ensure seamless communication across all team members of the project to promote efficiency
Lead WHS and risk management to ensure the workplace is safe and workplace incidents are reduced and or eliminated
Manage the application of building codes to ensure projects meet standards

This diploma course is endorsed by the Australian Institute of Project Management (AIPM).

Online

Construction Manager, Project Manager, Risk Manager

Price may vary

Full-time approx. 15-17 months; part-time approx. 12 months

On this page

What is a Risk Manager?

What will I do?

What skills do I need?

Resources

What is a Risk Manager?

The role of a Risk Manager is both dynamic and essential in today’s business landscape. These professionals are tasked with identifying, assessing, and mitigating risks that could potentially impact an organisation’s operations and objectives. By employing a strategic approach, Risk Managers ensure that businesses can navigate uncertainties while capitalising on opportunities. Their expertise is invaluable in fostering a culture of risk awareness and resilience within organisations, making them key players in safeguarding assets and reputation.

Risk Managers carry a diverse range of responsibilities that require a blend of analytical skills and strategic thinking. They conduct thorough risk assessments, analysing data to identify potential threats and vulnerabilities. This involves collaborating with various departments to gather insights and develop comprehensive risk management strategies. Additionally, they are responsible for creating and implementing policies that align with regulatory requirements and industry standards, ensuring that the organisation remains compliant while effectively managing risks.

Common tasks for Risk Managers include preparing detailed reports on risk exposure and mitigation strategies, presenting findings to senior management, and recommending improvements to existing processes. They also play a crucial role in crisis management, developing contingency plans to address potential emergencies. By staying abreast of industry trends and regulatory changes, Risk Managers can proactively adjust strategies to protect the organisation from emerging risks, thereby enhancing overall operational efficiency.

In a world where change is constant, a career as a Risk Manager offers a fulfilling path for those who thrive on problem-solving and strategic planning. The role not only provides opportunities for professional growth but also allows individuals to make a significant impact on their organisation’s success. With the increasing importance of risk management across various sectors, aspiring professionals can look forward to a rewarding career that is both challenging and essential in today’s complex business environment.

Career snapshots For Risk Managers

The role of a Risk Manager is crucial in today’s business environment, focusing on identifying, assessing, and mitigating risks that could impact an organisation’s operations and profitability. This career is well-suited for individuals who possess strong analytical skills and a keen understanding of business processes.

Average Age: Typically around 40 years old.
Gender Distribution: Approximately 60% male and 40% female.
Hours per Week: Generally, Risk Managers work around 40-45 hours per week.
Average Salary: The average salary for a Risk Manager in Australia is approximately $140,000 per year, with variations depending on the industry.
Unemployment Rate: The unemployment rate for Risk Managers is relatively low, reflecting the high demand for skilled professionals in this field.
Employment Numbers: There are around 30,000 individuals employed as Risk Managers across Australia.
Projected Growth: The job market for Risk Managers is expected to grow by 10% over the next five years, driven by increasing regulatory requirements and the need for risk management in various sectors.

These insights highlight the importance of pursuing relevant education and training to excel in this field, as well as the potential for a rewarding career in risk management.

What will I do?

Risk Managers play a crucial role in identifying, assessing, and mitigating risks that could potentially impact an organisation’s operations and objectives. They work across various industries, ensuring that businesses are prepared for uncertainties and can navigate challenges effectively. By implementing risk management strategies, they help safeguard assets, enhance decision-making, and promote a culture of risk awareness within the organisation.

Risk Assessment – Conducting thorough evaluations of potential risks that could affect the organisation’s operations, finances, and reputation.
Policy Development – Creating and updating risk management policies and procedures to ensure compliance with regulations and best practices.
Risk Mitigation Strategies – Developing and implementing strategies to minimise identified risks, including insurance, training, and contingency planning.
Monitoring and Reporting – Continuously monitoring risk factors and reporting findings to senior management and stakeholders to inform decision-making.
Training and Awareness – Providing training sessions and resources to staff to promote a culture of risk awareness and compliance within the organisation.
Collaboration – Working closely with various departments to integrate risk management practices into their operations and decision-making processes.
Incident Management – Responding to and managing incidents that pose a risk to the organisation, including conducting investigations and implementing corrective actions.
Regulatory Compliance – Ensuring that the organisation adheres to relevant laws, regulations, and industry standards related to risk management.

What skills do I need?

A career as a Risk Manager requires a diverse set of skills that blend analytical thinking with strong communication abilities. Professionals in this field must be adept at identifying potential risks, assessing their impact, and developing strategies to mitigate them. This involves a thorough understanding of risk assessment methodologies, financial principles, and regulatory requirements. Additionally, proficiency in data analysis and the ability to interpret complex information are crucial, as Risk Managers often rely on quantitative data to inform their decisions.

Moreover, effective Risk Managers possess excellent interpersonal skills, enabling them to collaborate with various stakeholders, including senior management, legal teams, and operational staff. They must be able to communicate risk-related concepts clearly and persuasively, ensuring that all parties understand the implications of potential risks. Furthermore, strong problem-solving skills and a proactive mindset are essential, as Risk Managers must anticipate challenges and devise innovative solutions to safeguard their organisations against unforeseen events.

Skills/attributes

Analytical skills
Attention to detail
Strong communication skills
Problem-solving abilities
Risk assessment and management
Knowledge of regulatory requirements
Project management skills
Ability to work under pressure
Team collaboration
Financial acumen
Proficiency in risk management software
Strategic thinking
Adaptability and flexibility
Ethical judgement and integrity
Leadership skills

Resources

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How to Become a Risk Manager: Australian Careers in Finance

What is a Risk Manager?

Career snapshots For Risk Managers

What will I do?

What skills do I need?

Skills/attributes

Resources

Career Outcomes