Risk Management roles assess the potential impact of risk to an organization’s operations and assets, while insurance helps the organization protect itself from any large financial expenditures that may result. Insurance may also refer to insurance for individuals, who use health insurance for coverage against costs associated with injury or illness, and property and casualty insurance for potential damage to their homes and other major property items. Increased regulation has driven demand for Risk Management professionals to help organizations monitor and meet regulatory requirements.
In-demand roles in Risk & Insurance generally require:
- Methodical approach and strong attention to detail, monitoring the market and risk landscape for micro and macro impacts of risk factors
- Quantitative analysis and problem-solving capabilities to assess risk and determine the best possible solutions
- Specialized educational background in Mathematics, Statistics, Finance, Economics, Actuarial Science, Banking, Business Administration, Accounting, Computer Science, Information Systems, Risk Management, Physics, Engineering, or Legal
In-Demand Careers in Risk & Insurance
Insurance Actuaries work in a data-intensive environment, analyzing financial risk exposure in order for their organization to formulate a proactive and strategic business plan.
Claims Adjusters review and investigate insurance claims to determine their organization’s financial liability. The work environment is typically deadline-driven and can include working irregular hours.
Insurance Underwriters evaluate and establish the terms and cost of insurance premiums. Workers in this role should have a good head for numbers and excellent problem solving skills.
Risk Adjudicators determine what lending decisions their organization should make. Risk Adjudicators are thorough and methodical when it comes to making critical decisions and are comfortable making those decisions in dynamic environments, characterized by uncertainty.
Risk Analysts help safeguard their organization from financial risk. They are inquisitive individuals capable of discovering meaningful points of information from large quantities of data and are also well-versed in changing market conditions.
If you like working with numbers and are technologically savvy, you may be well-suited to a Risk Modeller role. Risk Modellers conduct complex numerical analysis to enable their organization to manage risk and drive strategic business decisions.
Looking for personalized career matches?
Complete the Career Assessment tool and find your match to in-demand careers that Toronto employers are hiring for. Completely free!
Find your career match