Risk analyst

What does a Risk Analyst do? – Tasks and work environment

A Risk Analyst works on identifying, assessing, and managing risks within various organizations, often focusing on the financial sector. Tasks include analyzing financial reports, developing risk models, evaluating credit risks, and preparing decision support for management and the board. Usually, the work is performed in teams with other analysts and specialists, utilizing advanced data programs and statistical methods to forecast and minimize potential losses. The work environment is typically office-based, characterized by a fast pace and high precision, with regular contact both internally and externally.

Salary development over time

Risk Analysts have experienced clear salary increases in recent years. In 2022, the average salary was 66,800 SEK, rising in 2023 to 68 500 SEK. The latest measurement from 2024 shows a further increase to 73 100 SEK, which corresponds to a salary growth of approximately 9.4% over three years. This development reflects an increased demand for qualified analysts in risk management, especially as the finance industry imposes higher requirements for regulatory compliance and advanced data analysis. Salary increases have been steady but slightly faster in the most recent year, possibly linked to rising demands for digital skills and complex risk modeling.

Risk Analyst salary – complete overview

• Average salary: 73 100 SEK/month
• Lowest salary: 47,200 SEK/month (female, education shorter than 3 years)
• Highest salary: 76,800 SEK/month (male, private sector, education 3 years or more)
• Hourly wage: 440 SEK
• Women's average salary: 66 300 SEK (87% of men's average salary)
• Men's average salary: 76 100 SEK
• Regional differences: Salary variations occur, especially between metropolitan areas and other parts of the country, but detailed figures are not available.

Education and qualifications

To work as a Risk Analyst, a university degree in economics, statistics, mathematics, or engineering is usually required, often supplemented with specialized courses in risk management and finance. Practical experience from the finance sector or analytical roles is highly meritorious, and many employers also seek proficiency with advanced analysis tools and programming. Certifications such as FRM (Financial Risk Manager) or CFA (Chartered Financial Analyst) can be a significant advantage during recruitment.

• Formal degree: Bachelor's or master's in economics, finance, mathematics, or engineering (3–5 years)
• Certifications: FRM, CFA, or equivalent
• Internship/Trainee: Strongly recommended during or after studies
• Prerequisites: Good knowledge of statistics, analysis, and IT
• Online courses: Opportunities to supplement with programming and risk modeling courses

Common benefits and compensations

Risk Analysts are often offered competitive benefits beyond base salary, such as occupational pension, health insurance, wellness allowances, and bonus programs. Other common compensations include opportunities for remote work, flexible hours, and further education, especially in digital tools and leadership. Larger companies may also offer stock programs and extra vacation days.

Competition and challenges

The competition for Risk Analyst positions is moderate, as demand for qualified candidates remains stable, but the number of trained professionals is sufficient to meet the needs. Since the profession requires advanced education and specialist skills, staying updated on new regulations, technologies, and methods is important. Challenges often involve managing large data sets, a rapidly changing risk landscape, and increased reporting requirements to authorities. The ability to combine deep analysis with business acumen is crucial for long-term success.

Tips for aspiring Risk Analysts

To succeed as a Risk Analyst, it’s good to develop strong analytical skills and attention to detail, as the work demands precision at every stage. Being curious and eager to learn new methods and regulations helps as these evolve quickly. Good communication skills are important for explaining complex risks to colleagues and decision-makers. Working in a structured manner and being resilient under pressure are also central, especially when the pace is high and decisions have significant consequences. Building a network within the industry early and seeking internships can provide valuable experience. Flexibility and the ability to collaborate across functions increase the chances of a successful career. Finally, certifications and additional courses give a strong competitive edge in the job market.

Key facts about Risk Analysts

• Education level: Bachelor's or master's, often in economics or engineering
• Work environment: Office-based, analytical, often team-oriented
• Work form: Full-time, sometimes flexible/remote
• Demand: Moderate, approximately 758 job openings nationwide
• Special skills: Statistics, programming, and risk modeling

Career paths and future outlook

After three to five years of experience, a Risk Analyst can advance to roles such as Senior Risk Analyst, Risk Manager, or specialist in areas like credit risk, market risk, or operational risk. Other possible career paths include team leadership or project management within risk management. According to the Employment Service’s forecast for financial analysts and investment advisors, the job prospects are moderate, and the recruitment situation is balanced. Over five years, demand is expected to remain unchanged nationally, offering stable employment opportunities for those with the right skills and education.

Common questions about Risk Analysts

• What does a Risk Analyst earn?
  - A Risk Analyst has an average salary of 73 100 SEK per month. The salary varies depending on experience, education, and sector.
• What education is required to become a Risk Analyst?
  - Typically, a bachelor's or master's degree in economics, mathematics, statistics, or engineering is required. Certifications can be advantageous.
• What are the future prospects for Risk Analysts?
  - Demand is moderate and expected to remain unchanged over the next five years according to the Employment Service.
• Are there gender differences in the salary of Risk Analysts?
  - Yes, women earn on average 87% of what men do in the profession.
• What are the job responsibilities of a Risk Analyst?
  - Job responsibilities include risk assessment, analysis of financial reports, development of risk models, and reporting to management.
• What personal qualities are important for a Risk Analyst?
  - Analytical skills, accuracy, communication skills, and stress tolerance are key qualities.
• What are the career opportunities for a Risk Analyst?
  - After a few years, opportunities exist to advance to senior specialist roles or become a manager in risk management.