Job profile:
Risk management
Career zone:
The assurance provider
Regulatory risk is the risk that changes in laws or regulations will materially impact an industry or business. Such changes can increase the cost of running a business, reduce the attractiveness of an investment or change the competitive landscape. Regulatory risk professionals help organisations to mitigate these risks by working closely with regulators and building expertise in the specific regulatory environment in which they operate. They follow sector developments to allow them to anticipate changes and use their knowledge to develop risk management frameworks, enhance compliance programmes and implement effective governance.
Responsibilities will vary, but examples include:
The regulatory environment continues to be complex in nature, with supervision and enforcement being more intensive and intrusive. Regulatory risk managers ensure organisations are able to respond to changes in regulation effectively.
Regulatory risk managers are required to have a strong attention to detail and should be able to work independently, with minimum supervision or guidance, thus possessing great drive. Strong communication skills are also essential, as is the ability to influence key stakeholders. They require strong insight, and must also be highly organised with excellent planning and project management skills.
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