Business Risk Consultant
A business risk consultant is a professional who utilizes different analytical practices to determine any internal problems a business may have, possible corporate threats, and potential financial losses within a particular company. He or she may work as a freelance consultant or may hold a full time position within a company. Business risk consultants perform audits, compile risk assessment reports, and provide upper management with evidence-based recommendations to improve standing and reduce general risk. He or she may work independently or may utilize the services of a risk management team. Other common duties include: creating business plans, training staff, designing risk management procedures, documenting company progress, and ensuring businesses comply with regulatory standards.
A minimum of a Bachelor’s degree in finance, accounting, business administration, or other related field is required to become a business risk consultant. This field is highly competitive, so individuals who hold a Master’s of Business Administration degree have the best chance for employment. Some employers may require consultants to be a Certified Personal Accountant (CPA), Certified Financial Planner (CFP), Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA), or hold other similar professional certification. Strong analytical skills, financial planning skills, business planning skills, and auditing skills are also required.
Business risk consultants are generally paid by the hour. The typical hourly wage for an experienced consultant is between $30 and $40.
