Business analyst to financial risk manager

• already held advise on financial matters skill
• already held advise on risk management skill
• already held analyse external factors of companies skill
• already held analyse internal factors of companies skill
• already held digital data processing skill
• already held financial statements knowledge
• already held interpret financial statements skill
• already held liaise with managers skill
• already held make strategic business decisions skill
• already held management consulting knowledge
• already held risk management knowledge
• already held analyse financial performance of a company skill

• optional, not held develop predictive models optional
• optional, not held accounting department processes optional
• optional, not held financial department processes optional
• optional, not held negotiate sales contracts optional
• optional, not held prepare credit reports optional
• optional, not held risk financing techniques optional
• optional, not held treasury management system optional
• optional, not held Monte Carlo simulation optional
• optional, not held analyse economic trends optional
• optional, not held apply credit stress testing methodologies optional
• optional, not held apply statistical analysis techniques optional
• optional, not held assess risks of clients' assets optional
• optional, not held banking activities optional
• optional, not held calculate dividends optional
• optional, not held carry out statistical forecasts optional
• optional, not held control financial resources optional
• optional, not held create solutions to problems optional
• optional, not held deliver visual presentation of data optional
• optional, not held disseminate information on tax legislation optional
• optional, not held financial products optional
• optional, not held international financial reporting standards optional
• optional, not held maintain financial records optional
• optional, not held manage currency exchange risk mitigation techniques optional
• optional, not held perform data analysis optional
• optional, not held prepare financial statements optional
• optional, not held prevent fraudulent activities optional
• optional, not held produce statistical financial records optional
• optional, not held provide support in financial calculation optional

• not needed by the target role advise client on technical possibilities skill
• not needed by the target role advise on communication strategies skill
• not needed by the target role advise on efficiency improvements skill
• not needed by the target role advise on organisational culture skill
• not needed by the target role advise on personnel management skill
• not needed by the target role align efforts towards business development skill
• not needed by the target role analyse business plans skill
• not needed by the target role apply change management skill
• not needed by the target role build business relationships skill
• not needed by the target role business analysis knowledge
• not needed by the target role business analytics knowledge
• not needed by the target role business communication knowledge
• not needed by the target role business intelligence knowledge
• not needed by the target role business law knowledge
• not needed by the target role business process modelling knowledge
• not needed by the target role business strategy concepts knowledge
• not needed by the target role conduct qualitative research skill
• not needed by the target role conduct quantitative research skill
• not needed by the target role corporate law knowledge
• not needed by the target role data visualisation software knowledge
• not needed by the target role define organisational standards skill
• not needed by the target role identify undetected organisational needs skill
• not needed by the target role interview people skill
• not needed by the target role investment banking knowledge
• not needed by the target role keep updated on the political landscape skill
• not needed by the target role management systems standards knowledge
• not needed by the target role market entry strategies knowledge
• not needed by the target role market research knowledge
• not needed by the target role marketing analytics knowledge
• not needed by the target role organisational learning knowledge
• not needed by the target role organisational policies knowledge
• not needed by the target role perform business analysis skill
• not needed by the target role propose ICT solutions to business problems skill
• not needed by the target role quality standards knowledge
• not needed by the target role report analysis results skill
• not needed by the target role scientific research methodology knowledge
• not needed by the target role seek innovation in current practices skill
• not needed by the target role shape organisational teams based on competencies skill
• not needed by the target role support implementation of quality management systems skill
• not needed by the target role sustainable manufacturing knowledge

1 further entry not listed here

Knowledge gaps usually close through study. Practical skill gaps usually need something you can point at.

• still to learn assessment of risks and threats required
• still to learn economics required
• still to learn financial analysis required
• still to learn financial forecasting required
• still to learn financial management required
• still to learn risk identification required
• still to learn risk transfer required
• still to learn securities required
• still to learn tax legislation required
• optional, not held accounting department processes optional
• optional, not held financial department processes optional
• optional, not held risk financing techniques optional
• optional, not held treasury management system optional
• optional, not held Monte Carlo simulation optional
• optional, not held banking activities optional
• optional, not held financial products optional
• optional, not held international financial reporting standards optional

Yes, and it is a career change move. A business analyst already covers 25% of what a financial risk manager is expected to do: 12 skills carry over, 11 of which the financial risk manager role treats as required.

24 required skills are missing, plus 28 optional ones. They fall into 9 areas of the ESCO skill hierarchy, led by information skills. The single most important is create risk maps.

Its learning distance is 79.9 out of 100, which is the career change band. That accounts for both how much is missing and how specialised those skills are.