Corporate risk manager to business analyst
A corporate risk manager already meets 19% of what the business analyst role asks for. The move turns on 20 required skills not yet in the profile.
82.4/ 100
1 How much of what a business analyst is expected to do is already part of a corporate risk manager’s work. Directional: the figure for the reverse move differs, because moving into a speciality is not the same problem as moving out of one. 2 Every skill the business analyst role is recorded as needing, required and optional together. What these numbers mean.
Why this move works
A business analyst role treats 6 of its required skills as things a corporate risk manager already does. You would walk in with these on day one.
- align efforts towards business development
- analyse external factors of companies
- analyse internal factors of companies
- liaise with managers
- make strategic business decisions
- risk management
What stands in the way is 20 required skills the profile does not yet cover. Table 3 groups them; Table 4 says which to take first.
Table 2 · What you already bring
Of the 8 skills that carry over, these are the ones fewest other occupations ask for. A business analyst role needs them, and most people applying for one will not have them already. This is the part of a corporate risk manager background worth leading with.
- already held keep updated on the political landscape information skills
- already held analyse external factors of companies information skills
- already held analyse internal factors of companies information skills
- already held align efforts towards business development communication, collaboration and creativity
- already held advise on risk management information skills
- already held make strategic business decisions management skills
All 8 carried skills, including the 6 the business analyst role treats as required.
Table 3 · What you may need to learn
The 45 missing skills fall into 10 areas of the ESCO skill hierarchy, numbered in the order worth working in. Areas carrying the most required skills come first, and inside each one the required skills sit above the optional ones. Nothing here is a verdict on you: it is a list of what this particular job asks for that your current one does not.
- still to learn analyse business plans required
- still to learn analyse financial performance of a company required
- still to learn conduct qualitative research required
- still to learn conduct quantitative research required
- still to learn interpret financial statements required
- still to learn perform business analysis required
- optional, not held report analysis results optional
- optional, not held seek innovation in current practices optional
- still to learn management consulting required
- still to learn management systems standards required
- still to learn business analysis required
- still to learn market research required
- optional, not held organisational learning optional
- optional, not held business process modelling optional
- optional, not held investment banking optional
- optional, not held organisational policies optional
- optional, not held business intelligence optional
- optional, not held business law optional
- optional, not held business strategy concepts optional
- optional, not held corporate law optional
- optional, not held financial statements optional
- optional, not held market entry strategies optional
- optional, not held marketing analytics optional
- optional, not held quality standards optional
- still to learn advise on efficiency improvements required
- still to learn build business relationships required
- optional, not held interview people optional
- optional, not held advise client on technical possibilities optional
- optional, not held advise on communication strategies optional
- optional, not held advise on financial matters optional
- optional, not held advise on organisational culture optional
- optional, not held advise on personnel management optional
- optional, not held propose ICT solutions to business problems optional
- optional, not held support implementation of quality management systems optional
- still to learn apply change management required
- still to learn identify undetected organisational needs required
- optional, not held define organisational standards optional
- optional, not held shape organisational teams based on competencies optional
- still to learn digital data processing required
- still to learn use business simulation tools required
- still to learn scientific research methodology required
4 further areas in the appendix
Table 4 · Where to start
The 3 entries a business analyst role is least likely to hire without. The ordering is computed from the skill data, not from what pays.
- 01 business analytics study this
- 02 digital data processing practise this
- 03 management consulting study this
Each entry opens a course search for that skill. Career Overlap earns nothing from these links.
Appendix · The rest of the record
All 8 skills that carry over
- already held align efforts towards business development skill
- already held analyse external factors of companies skill
- already held analyse internal factors of companies skill
- already held liaise with managers skill
- already held make strategic business decisions skill
- already held risk management knowledge
- already held advise on risk management skill
- already held keep updated on the political landscape skill
The 4 learning areas not shown above
- still to learn business communication required
- still to learn data visualisation software required
- still to learn business analytics required
- optional, not held sustainable manufacturing optional
25 supplementary skills, helpful but not required
- optional, not held organisational learning optional
- optional, not held business process modelling optional
- optional, not held interview people optional
- optional, not held investment banking optional
- optional, not held organisational policies optional
- optional, not held advise client on technical possibilities optional
- optional, not held advise on communication strategies optional
- optional, not held advise on financial matters optional
- optional, not held advise on organisational culture optional
- optional, not held advise on personnel management optional
- optional, not held business intelligence optional
- optional, not held business law optional
- optional, not held business strategy concepts optional
- optional, not held corporate law optional
- optional, not held define organisational standards optional
- optional, not held financial statements optional
- optional, not held market entry strategies optional
- optional, not held marketing analytics optional
- optional, not held propose ICT solutions to business problems optional
- optional, not held quality standards optional
- optional, not held report analysis results optional
- optional, not held seek innovation in current practices optional
- optional, not held shape organisational teams based on competencies optional
- optional, not held support implementation of quality management systems optional
- optional, not held sustainable manufacturing optional
39 held skills the business analyst role does not ask for
- not needed by the target role ICT network security risks knowledge
- not needed by the target role Monte Carlo simulation knowledge
- not needed by the target role accounting department processes knowledge
- not needed by the target role address identified risks skill
- not needed by the target role analyse insurance needs skill
- not needed by the target role apply crisis management skill
- not needed by the target role assess financial viability skill
- not needed by the target role assess reliability of data skill
- not needed by the target role assess risk factors skill
- not needed by the target role assess supplier risks skill
- not needed by the target role compile appraisal reports skill
- not needed by the target role comply with legal regulations skill
- not needed by the target role corporate social responsibility knowledge
- not needed by the target role corporate sustainability knowledge
- not needed by the target role create risk reports skill
- not needed by the target role define risk policies skill
- not needed by the target role develop company strategies skill
- not needed by the target role enterprise risk management knowledge
- not needed by the target role estimate impact of risks skill
- not needed by the target role financial products knowledge
- not needed by the target role follow company standards skill
- not needed by the target role forecast organisational risks skill
- not needed by the target role identify if a company is a going concern skill
- not needed by the target role implement corporate governance skill
- not needed by the target role insurance law knowledge
- not needed by the target role internal auditing knowledge
- not needed by the target role international financial reporting standards knowledge
- not needed by the target role key risk indicators knowledge
- not needed by the target role manage commercial risks skill
- not needed by the target role national generally accepted accounting principles knowledge
- not needed by the target role qualitative risk analysis techniques knowledge
- not needed by the target role quantitative risk analysis techniques knowledge
- not needed by the target role reinsurance knowledge
- not needed by the target role risk financing techniques knowledge
- not needed by the target role risk identification knowledge
- not needed by the target role risk modelling knowledge
- not needed by the target role risk transfer knowledge
- not needed by the target role track key performance indicators skill
- not needed by the target role types of insurance knowledge
21 gaps that are knowledge rather than practice
Knowledge gaps usually close through study. Practical skill gaps usually need something you can point at.
- still to learn business analytics required
- still to learn management consulting required
- still to learn management systems standards required
- still to learn business analysis required
- still to learn business communication required
- still to learn data visualisation software required
- still to learn market research required
- still to learn scientific research methodology required
- optional, not held organisational learning optional
- optional, not held business process modelling optional
- optional, not held investment banking optional
- optional, not held organisational policies optional
- optional, not held business intelligence optional
- optional, not held business law optional
- optional, not held business strategy concepts optional
- optional, not held corporate law optional
- optional, not held financial statements optional
- optional, not held market entry strategies optional
- optional, not held marketing analytics optional
- optional, not held quality standards optional
- optional, not held sustainable manufacturing optional
Common questions about this move
Can a corporate risk manager become a business analyst?
Yes, and it is a career change move. A corporate risk manager already covers 19% of what a business analyst is expected to do: 8 skills carry over, 6 of which the business analyst role treats as required.
What skills does a corporate risk manager need to become a business analyst?
20 required skills are missing, plus 25 optional ones. They fall into 10 areas of the ESCO skill hierarchy, led by information skills. The single most important is business analytics.
How hard is the move from corporate risk manager to business analyst?
Its learning distance is 82.4 out of 100, which is the career change band. That accounts for both how much is missing and how specialised those skills are.
How this record was compiled
Both occupations are taken from ESCO, which lists the skills and knowledge each occupation is expected to have and marks every one required or optional. Nothing here is a prediction about hiring, and nothing here knows that a particular employer wants a particular certificate. Treat Table 3 as a starting point for your own research rather than a syllabus. The full method states what these figures can and cannot tell you.