Torchora
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corporate risk consultant

title: Key Responsibilities and Required Skills for Corporate Risk Consultant
salary: $90,000 - $150,000
categories: [Risk Management, Finance, Consulting, Compliance, Enterprise Risk]
description: A comprehensive overview of the key responsibilities, required technical skills and professional background for the role of a Corporate Risk Consultant.
Comprehensive, recruiter-style summary of the Corporate Risk Consultant role: responsibilities,
required technical and behavioral skills, typical career progression, education and experience.

🎯 Role Definition

This role requires an experienced Corporate Risk Consultant to join our enterprise risk management practice. The ideal candidate will partner with business leaders and control functions to identify, quantify, mitigate and report enterprise-wide risks — including credit, market, liquidity, operational and strategic exposures. This role combines technical risk analysis, policy and framework development, regulatory readiness and stakeholder advisory. The Corporate Risk Consultant will own end-to-end risk activities, drive improvements to risk measurement and reporting, and influence risk-aware decision-making across the organization.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Risk Analyst (credit, market, operational)
  • Internal Audit or Compliance Analyst
  • Financial Analyst or Credit Underwriter

Advancement To:

  • Senior Corporate Risk Consultant
  • Enterprise Risk Manager / Head of Risk Analytics
  • Director of Risk & Controls / Chief Risk Officer (CRO)

Lateral Moves:

  • Regulatory Compliance Manager
  • Internal Audit Manager
  • Third-Party Risk / Vendor Risk Lead

Core Responsibilities

Primary Functions

  • Develop, implement and maintain the enterprise risk management (ERM) framework, including policies, standards, procedures and guidance that align with ISO 31000, COSO and regulatory expectations.
  • Lead end-to-end risk assessments across credit, market, liquidity, operational, compliance and strategic risk domains, combining qualitative workshops and quantitative analytics to determine likelihood, impact and residual risk.
  • Design and perform stress testing, scenario analysis and reverse stress testing to evaluate portfolio resilience, capital adequacy and potential earnings volatility under adverse macroeconomic and idiosyncratic scenarios.
  • Build and validate risk measurement models (credit scoring, PD/LGD/EAD, market VAR, operational risk loss models) and coordinate periodic model governance, backtesting and model risk controls.
  • Prepare clear, actionable risk reporting and presentations for senior management, the risk committee and the board of directors, including executive summaries, heat maps, trend analysis and recommended mitigation plans.
  • Establish and monitor key risk indicators (KRIs) and thresholds across business lines; implement automated KRI collection and escalation processes to support early warning and governance.
  • Conduct portfolio-level risk concentration analysis and limit setting (sector, geography, counterparty, product) and recommend rebalancing or hedging strategies.
  • Support capital planning, regulatory reporting and compliance activities tied to Basel III/IV, CCAR/ICAAP, and local prudential requirements, working with finance and regulatory reporting teams.
  • Perform due diligence and risk assessments for mergers & acquisitions, strategic initiatives and new product launches to quantify incremental credit, market and operational exposures.
  • Lead remediation programs for identified control weaknesses, policy breaches and audit findings; track issue ownership, timelines and closure evidence through GRC tools.
  • Advise business leaders on the design and implementation of control frameworks to reduce operational and compliance risk, including segregation of duties, process redesign and automation.
  • Oversee third-party and vendor risk assessments, including critical vendor dependency, service level risk, outsourcing controls and contractual risk mitigation.
  • Manage data lineage, data quality checks and enhancements to risk data repositories; partner with data engineering to ensure risk calculations use accurate, auditable inputs.
  • Implement and optimize risk reporting tooling and dashboards (Power BI, Tableau, Qlik, or GRC platforms) to improve transparency and reduce manual reporting effort.
  • Draft and update risk policies, standards and operating procedures; coordinate policy governance and communications across business units and control functions.
  • Coordinate and support internal and external regulatory exams and audits, including preparation of working papers, control narratives and remediation plans.
  • Conduct root cause analysis on material risk events, losses or near-misses and drive corrective action plans, lessons learned workshops and preventive controls.
  • Mentor and train front-line staff and junior risk analysts on risk frameworks, risk assessment techniques, model interpretation and regulatory obligations.
  • Lead cross-functional risk projects and change initiatives — from requirement definition through implementation, testing and post-implementation monitoring.
  • Provide pragmatic, commercially aware risk advice to relationship managers and product teams to enable sustainable business growth while staying within risk appetite.
  • Build and maintain the enterprise risk register, ensuring risks are captured, scored, assigned and tracked with clear risk owners and timelines.
  • Support anti-money laundering (AML), sanctions and KYC risk reviews where controls intersect with enterprise risk assessments.
  • Continuously monitor emerging risks (cyber, climate, geopolitical, reputational) and synthesize insight for scenario planning and strategic risk discussions.
  • Validate and reconcile risk exposure and P&L impacts reported in risk systems against accounting and trading systems to ensure consistency and accuracy.

Secondary Functions

  • Support ad-hoc data requests and exploratory data analysis.
  • Contribute to the organization's data strategy and roadmap.
  • Collaborate with business units to translate data needs into engineering requirements.
  • Participate in sprint planning and agile ceremonies within the data engineering team.
  • Assist in preparation of regulatory submissions, internal control documentation and audit evidence.
  • Provide training materials and run workshops on risk appetite, KRI interpretation and basic risk analytics for non-risk stakeholders.
  • Help maintain and improve risk documentation libraries, templates and standard operating procedures.
  • Participate in vendor selection and testing for GRC, risk modeling and analytics platforms.
  • Act as a liaison between IT, Finance and Business to ensure risk systems are aligned with reporting and compliance objectives.
  • Support continuous improvement initiatives to reduce manual work, standardize processes and strengthen control automation.

Required Skills & Competencies

Hard Skills (Technical)

  • Enterprise Risk Management (ERM): deep knowledge of ERM frameworks, policy development and embedding risk culture across business lines.
  • Risk Assessment & Risk Scoring: proven experience running qualitative and quantitative risk assessments, risk scoring matrices and heat map creation.
  • Credit Risk Analytics: experience with credit underwriting, portfolio analytics, PD/LGD/EAD modeling, IFRS9/CECL provisioning drivers and concentration risk.
  • Market & Liquidity Risk: familiarity with market risk metrics (VaR, stress sensitivity), liquidity scenario analysis and limits management.
  • Operational & Conduct Risk: ability to identify process/control failures, loss event analysis and control remediation planning.
  • Stress Testing & Scenario Analysis: design and execution of stress tests, sensitivity analysis and reverse stress testing techniques.
  • Risk Reporting & Visualization: advanced reporting skills and dashboard creation using Power BI, Tableau, Qlik or similar tools.
  • Data & SQL: strong ability to extract, transform and analyze risk data using SQL and relevant query languages; comfortable validating data lineage.
  • Modeling & Statistics: hands-on experience with model development and validation using Python, R, SAS or MATLAB; familiarity with backtesting and model governance.
  • Regulatory & Compliance Knowledge: working knowledge of Basel frameworks, CCAR/ICAAP, SOX controls, AML/KYC and local regulatory requirements.
  • GRC Tools & Workflows: experience with Governance, Risk and Compliance platforms such as MetricStream, RSA Archer, ServiceNow or equivalent.
  • Advanced Excel & VBA: proficiency in complex financial modeling, pivoting, macros and scenario tools in Excel.

Soft Skills

  • Strong Communication: ability to translate complex technical risk findings into clear, concise executive-level messages.
  • Stakeholder Management: proven capability to influence and build relationships with senior business leaders, finance, audit and IT.
  • Analytical & Critical Thinking: high comfort with ambiguous problems, large datasets and deriving actionable insight from analysis.
  • Project Management: structured, deadline-driven approach to manage multi-stakeholder projects and risk remediation programs.
  • Problem Solving & Pragmatism: commercial orientation with an ability to balance risk mitigation and business objectives.
  • Attention to Detail: meticulous documentation, control testing and validation skills for audit readiness.
  • Coaching & Mentoring: willingness and ability to develop junior teammates and transfer technical knowledge.
  • Ethical Judgement & Integrity: strong commitment to ethical standards and regulatory compliance.
  • Adaptability & Resilience: ability to operate effectively in fast-paced, changing regulatory and business environments.
  • Presentation & Facilitation: comfortable running workshops, training sessions and risk committee presentations.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's degree in Finance, Economics, Accounting, Mathematics, Statistics, Risk Management or a closely related field.

Preferred Education:

  • Master’s degree in Finance, Financial Engineering, Risk Management, Business Administration (MBA) or related discipline.
  • Professional certifications such as FRM (Financial Risk Manager), PRM (Professional Risk Manager), CFA or CRM are strongly preferred.

Relevant Fields of Study:

  • Finance / Financial Engineering
  • Economics
  • Accounting / Audit
  • Statistics / Mathematics
  • Risk Management / Business Administration

Experience Requirements

Typical Experience Range:

  • 3 to 7 years of progressively responsible experience in risk management, credit analysis, market risk, operational risk, internal audit or management consulting.

Preferred:

  • 5+ years in banking, insurance, asset management or Big Four / management consulting risk practices, with demonstrable experience delivering ERM programs, stress testing, regulatory projects and risk analytics.
  • Prior exposure to regulatory exams, capital planning processes and enterprise-wide risk governance is highly desirable.
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