Risk Analyst

Risk Analysts examine the things that could go wrong for an organisation and put a number or rating on how serious each threat is. They gather data, build models, write reports, and present findings to managers or committees. The goal is to give decision-makers clear information so the organisation can act before a problem becomes a crisis. Common areas of focus include credit risk, market risk, operational risk, and compliance risk, though the exact scope depends on the employer.

A typical day might start with reviewing overnight data feeds or market movements that affect the organisation's risk position. From there, a Risk Analyst could spend time updating spreadsheets or risk models, drafting a report on a new regulatory requirement, or sitting in a meeting with a business unit to understand a proposed project. Afternoons often involve checking that risk registers are current, responding to queries from auditors or senior managers, and preparing presentations for a risk committee. The pace varies: quieter periods allow for deeper analysis, while regulatory deadlines or market events can make the work more intense.

A bachelor degree is the typical entry-level qualification for this role (JSA Occupation Profile). Degrees in finance, economics, mathematics, statistics, accounting, or a related field are common pathways. Some employers also value postgraduate study or professional certifications such as the Financial Risk Manager (FRM) or Chartered Financial Analyst (CFA) designation, particularly for more senior positions. People changing careers from fields like accounting, data analysis, engineering, or compliance may find their existing skills transfer well, though a formal qualification in a relevant discipline is generally expected. Course options can be explored at yourcareer.gov.au or dewr.gov.au/skills-reform/free-tafe.

The real challenge in this role is not the technical analysis itself but the communication that follows it. Risk Analysts regularly need to explain complex, sometimes unwelcome findings to people who may not share their technical background and who may have a stake in a different outcome. Staying objective under that pressure takes practice. Career changers also need to be aware that many employers expect demonstrated experience with risk frameworks or financial data, so breaking into the field without a relevant background may require additional study, a bridging role in a related area such as compliance or audit, or a willingness to start at a more junior level than a previous career might suggest.

Published for ANZSCO unit group 2241, the wider group this job sits in, not for this job on its own.

This is the median for full-time employees who are not managers and are paid at the adult rate, before tax and salary sacrifice. It is a guide to what the work pays, not a wage rate.

Source: ABS Survey of Employee Earnings and Hours, May 2025, customised report.

• Attention to Detailcore
• Basic Arithmetic and Numerical Accuracycore
• Microsoft Excel Data Managementcore
• Policy Interpretationcore
• Power BI Reporting and Dashboardscore
• Problem Solvingcore
• Regulatory and Legislative Awarenesscore
• Report Writingcore
• Reporting and Analyticscore
• Research and Analysiscore
• Risk Identificationcore
• Stakeholder Communicationcore
• Written Communicationcore
• Continuous Learning and Upskilling
• Data Entry and Accuracy
• Negotiation
• Process Documentation
• Process Improvement Identification
• Quality Assurance and Checking
• Time Management and Prioritisation
• Verbal Communication

• ABS OSCA 2024, occupation definition and task statements
• ABS Survey of Employee Earnings and Hours, May 2025, customised report.
• ABS, 2021 Census of Population and Housing based on usual place of residence (Custom Report). OSCA Experimental Estimates.

Role data is drawn from official Australian Government sources, and each figure names where it comes from. Where a role is not in the ABS classification, the page shows no government figures for it. Data may not reflect every local variation.

Where our numbers come from.

Last updated: 30 October 2026