Jumping out of a plane without a parachute is pretty risky. But jumping out of a plane with a parachute? Still risky, but smarter. That's the idea behind hiring a risk management analyst, who helps companies to avoid big mistakes, and to take smart precautions if they have to take risks. Some risks companies face include costly and dangerous accidents (think of oil spills or plant explosions), natural disasters, or expensive projects that fail. Risk management analysts use data to decide which risks they must protect against, help leaders create rules and policies that protect the company against damage, and sometimes devise a "parachute" (risk management strategy) should a company be poised for unavoidable problems. So if you're good at fixing big problems (or spotting small problems before they become big), this career might appeal to you.
The Details
Disasters in the business world don't just hurt the businesses involved—they can also hurt ordinary workers, nearby neighbors, or the environment. Risk management analysts make big problems a much smaller possibility.
Hurricane Katrina, which decimated businesses and buildings across New Orleans in 2005, caused an estimated $81 billion in property damage, making it the costliest natural disaster in U.S. history.
