Risk Manager: a key player in corporate risk management
In this article, find out who the Risk Manager is, his responsibilities in the company, his background, his career prospects and his key role in the face of rising risks, especially cyber risks.
The role of the Risk Manager explained simply
The Risk Manager is the professional responsible for identifying, evaluating and managing all the risks that may affect the performance or sustainability of an organization. Unlike the CSSI, which focuses mainly on the security of information systems, the Risk Manager adopts a global vision: financial, strategic, regulatory, operational, environmental risks... and increasingly, cyber risks.
Often attached to general management or governance bodies, it plays a role of strategic advisor. Its objective: to enable the company to make informed decisions by integrating the risk dimension into each major project.
Historically focused on the management of financial and insurance risks, the business has gradually expanded to respond to an increasingly complex environment. Health crises, technological dependencies, climate challenges and reinforced regulatory requirements have made the Risk Manager a key player in organizational resilience.
Its mission is therefore not only to limit potential losses, but also to create value by helping the company to innovate, enter new markets or enter into partnerships, while managing uncertainty.
The daily fields of action of the Risk Manager
The Risk Manager job covers a very broad spectrum:
- Mapping and prioritizing risks to which the organization is exposed. For example, an industrial company may identify its dependencies on critical suppliers, its cybersecurity risks, and its environmental obligations as priorities.
- Implement mitigation plans to reduce the likelihood and impact of threats. This may involve an adapted insurance policy, the implementation of a business continuity plan, or even the doubling of certain strategic suppliers to limit production interruptions.
- Dialogue with the professions and the COMEX, by translating risks into business challenges. The Risk Manager must be able to simply explain how regulatory risk can lead to financial sanctions, or how a cyber incident can block the supply chain and delay customer deliveries.
- Coordinate crisis management, whether financial, regulatory or operational. During a cyberattack paralyzing some of the systems, he works hand in hand with the CISO and crisis communication to limit the financial and reputational impacts.
In this transversal approach, cyber risk is taking on an increasing role. A computer attack can have major financial, legal and reputational consequences. This is why the Risk Manager collaborates closely with the RSSI, which provides the technical expertise necessary for the analysis and management of this particular risk. Together, they allow the company to have a global and prioritized vision of its vulnerabilities.
How do you become a Risk Manager?
The path to this profession is varied. Many Risk Managers come from studies in management, finance, insurance or risk management. Business schools, some engineering schools and several specialized masters (risk management, audit, compliance) prepare for this function.
The certifications also reinforce the credibility of the profiles:
- ISO 31000 (risk management),
- IRM qualifications (Institute of Risk Management),
- or even the courses ofAMRAE (Association for Risk Management and Business Insurance).
Skills expected to excel in this role
A good Risk Manager must combine technical and human skills, because his job is carried out at the crossroads of numbers, regulations and the human factor.
- Mastery of risk management methodologies : identification, evaluation, treatment, follow-up. For example, being able to set up a risk map according to the ISO 31000 standard or to lead scripting workshops to identify the impacts of a health crisis on the supply chain.
- Regulatory knowledge : financial compliance, RGPD, sectoral legislation, European directives. In banking, this means following the application of the DORA regulation; in health, ensuring compliance with obligations related to medical data.
- Ability to manage a crisis and to coordinate several internal and external actors : knowing how to activate a continuity plan after a cyberattack, manage communication with supervisory authorities or even communicate with insurers to speed up compensation.
- Relational ease and clear communication : knowing how to convince management, raise awareness among professions and popularize complex issues. For example, transforming a technical risk analysis into a dashboard that can be understood by the COMEX, or organizing practical workshops for operational teams.
Beyond this expertise, the real added value of a Risk Manager is based on his ability to transform sometimes abstract analyses into concrete levers for decision and performance. It is he who helps the company to balance opportunities and threats, to take calculated risks and to maintain its resilience in an uncertain environment.
Salary and career prospects
The salary for a Risk Manager depends on the experience, the sector and the size of the company. In France, junior profiles start around 45,000 to 55,000€ gross per year, while a confirmed Risk Manager in a large company can reach 90,000 to 120,000€.
With experience, he can evolve into positions of Chief Risk Officer (CRO), Director of Compliance or even join the general management. Specialization in certain sectors (finance, energy, health, industry) also opens up attractive career prospects.
The Risk Manager faced with the rise of cyber risks
Cyber has become a risk Transverse, which impacts business continuity, reputation, customer relationships and regulatory compliance at the same time. A computer attack can interrupt a production chain, cause direct financial losses, expose the company to sanctions (RGPD, NIS 2, DORA), and permanently damage its image.
For a Risk Manager, the challenge is therefore to integrate the cyber in a global threat map, in the same way as financial, environmental or legal risks. In concrete terms, this means:
- assess the impact of a ransomware attack not only on computer systems, but also on product delivery, customer relationships and turnover,
- link a compromise of health data to regulatory and reputational risks,
- measure the consequences of a cloud service interruption on operational continuity and partner trust.
This approach requires close collaboration with the RSSI, which provides technical expertise to understand attack scenarios, exploitable vulnerabilities, and protection solutions. Together, Risk Manager and RSSI translate these scenarios into concrete business challenges, thus offering COMEX a clear, prioritized and intelligible vision of risks.
Les platforms of CRM (Governance, Risk & Compliance) suchlike Egerie play a decisive role here. They allow:
- to consolidate cyber and non-cyber risks in a single map,
- to generate dynamic dashboards who speak the language of decision makers,
- to simulate different scenarios (attack, failure, regulatory crisis) to anticipate the impacts,
- to align the cybersecurity strategy with the overall goals of the company.
Thus, the Risk Manager goes beyond simple manual reporting to manage risks in a manner proactive and strategic. It shows that cybersecurity is not only a cost center, but a competitive and resilient asset. In a context where investors, regulators and customers require tangible evidence of risk control, this ability is becoming a key factor of trust and differentiation in the market.
Manage your strategic and cyber risks with Egerie
Anticipating risks is not limited to checking compliance boxes: it is a driver of performance and trust for the company.
The platform Egerie accompanies you for:
- Map your risks strategic, operational and cyber.
- Prioritize your actions according to their real business impact.
- Strengthening governance thanks to clear and shared dashboards.
- Transforming regulatory constraints in competitive advantage.
Find out how Egerie helps Risk Managers manage the resilience of their organization. Request a demo now.
The Risk Manager is an indispensable player in modern organizations. By providing a global and structured view of threats, it allows the company to reduce its vulnerabilities and make more informed decisions. In a context where risks are multiple — financial, environmental, regulatory and now cyber — its role is becoming more strategic than ever.
FAQ on the Risk Manager job
What is the difference between a Risk Manager and a CISO?
The Risk Manager has a global vision: he manages all types of risks (financial, operational, regulatory, environmental, cyber). The CISO, on the other hand, focuses on the security of information systems. The two businesses work closely together, in particular to integrate cyber into risk management.
What degree do you need to become a Risk Manager?
The majority of Risk Managers come from training in management, finance, insurance or risk management. Specialized master's degrees exist in major schools and universities. Certifications (ISO 31000, IRM, AMRAE) are an additional asset.
What is the average salary for a Risk Manager?
At the beginning of a career, a Risk Manager earns around 45,000 to 55,000€ gross per year. With experience, the salary can reach 90,000 to 120,000€, or even more so in large companies or highly regulated sectors (banking, insurance, health, energy).
What skills are essential for a Risk Manager?
A good Risk Manager must master risk management methodologies (ISO 31000), understand applicable regulations, know how to manage a crisis and have excellent communication skills to convince management and raise awareness among businesses.
What are the main challenges of a Risk Manager today?
The major challenges are the multiplication of interconnected risks (health crises, cyberattacks, climate change), the growing requirement for regulatory compliance, and the need to provide COMEX with a clear and prioritized vision of threats.
What career developments for a Risk Manager?
With experience, a Risk Manager can evolve into positions of Chief Risk Officer (CRO), Compliance Director, or even join the general management. Some also choose to specialize in a specific field (cyber, finance, insurance).
