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Risk Manager
Identifies and mitigates potential threats to an organization — financial, operational, and strategic.
Did you know?
Modern risk management owes a lot to Edward Lloyd's London coffee house, where from the 1680s ship owners met people willing to insure their voyages.
How subjects help
- Mathematics: Calculate how much money a company could lose if a risk actually happens.
- Economics: Watch interest rates and currency changes that could hurt a company's income.
- Statistics: Use past data to estimate how likely events like floods or fraud are.
- Psychology: Understand why people take shortcuts and design safety rules staff will actually follow.
A famous name
Harry Markowitz: Pioneered measuring investment risk with modern portfolio theory, winning a Nobel Prize in 1990.
Try it yourself: Plan a party on a budget
- Pretend you have a set amount of money for a party for ten friends. Pick the amount yourself.
- List what you want (food, decorations, games) and guess a price for each.
- Add it up. Over budget? Decide what to cut or swap for something cheaper.
- Keep a little money spare for surprises. What did you choose to protect, and why?
Accountants, managers and business owners make these choices every day: what matters most, and what can wait.
Also try: Would you invest in this business?.
Known for it in
USA, UK, Switzerland, Singapore, Germany