IT Risk Management: The Bomb Squad of the Business World
As online businesses continue to soar, there is more sensitive information at risk.
IT Risk Managers are seen as the bomb squad of an organization.
They anticipate and identify security breaches and destroy them before they can hurt an organization.
The need for IT Security is at an all-time high, with a projected growth of 35% between 2021 and 2031.
This projected growth is higher than any other occupation.
Despite this being a high-pressure career, the work flexibility and high salary make up for it.
There has never been a better time to pursue a career in IT.
IT Risk Manager Information
| Official Job Title | IT Risk Manager |
| Average Salary | $117,832 |
| Stress Level | High |
| Work/Life | Above Average |
| Job Satisfaction | High |
| Career Advancement | Very High |
IT Risk Manager Job Description
What Is An IT Risk Manager?
An IT Risk Manager is essentially an organization’s bomb squad.
Their primary responsibility is assisting an organization in identifying and assessing potential risks that could compromise sensitive information.
They oversee the use of technology within an organization and create procedures and solutions for employees to reduce those risks.
IT Risk Managers must also stay updated with social and legal changes that could affect the company.
Risk management requires a lot of strategic and critical thinking.
They also work to increase security by educating themselves on the latest software that could provide additional protection.
What Does An IT Risk Manager Do On A Daily Basis?
A typical day in the life of an IT Risk Manager could be encrypting hard drives and company servers and looking for opportunities to increase safety.
They create and implement new procedures and protocols that will make the company run more safely and efficiently.
They often conduct and oversee the training of new safety protocols.
Risk Managers attend meetings with senior leadership to ensure the organization’s interests are a priority.
Aside from this, IT Risk Managers are often educating themselves on what’s going on in their industry and learning about new technologies and software that could benefit the organization.
Responsibilities, Duties & Roles Of An IT Risk Manager
- Anticipate risks the organization may be subjected to and create an action plan to minimize the negative impact
- Prepare procedures and protocols for security breaches, cyber-attacks, and system failures
- Monitor technology throughout the organization for potential risks
- Attend meetings with senior leadership and provide IT perspective on business decisions
- Educating themselves on what’s going on in their industry
- Learning about new technologies and software that could be beneficial to the organization
IT Risk Manager Salary
Average Salary
According to PayScale, the average salary for an IT Risk Manager in the US is $117,832.
Starting Salary
According to PayScale, the starting salary for an IT Risk Manager in the US is $73,240.
Senior Salary
According to PayScale, after several years of experience, most executive-level IT Risk Managers in the US make $239,460.
How To Become An IT Risk Manager
The Entry Level: Certification, Training & Degree
Becoming an IT Risk Manager requires a lot of discipline and drive.
First, you must earn an undergraduate degree in computer technology, computer science, or information systems.
However, it is essential to remember that additional certifications and training may be required depending on the industry you are entering.
Ideally, aspiring IT Risk Managers are using their summers effectively by closing the educational gaps their undergraduate does not provide.
Other Skill Sets, Requirements & Qualifications
Familiarity in software, hardware, and mobile asset management is an asset.
Although this position is quite technical, the ability to create and maintain relationships is critical.
Strong written and oral communication skills will assist you in being a great leader and motivator for your team.
The ability to work under pressure and meet deadlines is needed to be successful in this position.
How Long Does It Take To Become An IT Risk Manager?
Often it takes nearly ten years to hold this position.
First, you must earn an undergraduate degree; then, you must have a minimum of 3-5 years of work experience to take on the pressure this position has fully.
Is it Hard To Become an IT Risk Manager?
Yes.
Becoming an IT Risk Manager requires a lot of discipline and drive.
Persistence is needed in pursuing a career that is constantly throwing complex problems your way.
This position requires lifelong learning and constant personal development.
IT Risk Manager Career Paths
The IT Risk Management RoadMap
A career in the technology industry requires extensive education.
You must first start by earning an undergraduate degree in computer science or information technology.
It is ideal for students to seek internships during the summer months.
Education aside, it is recommended that you build strong relationships with your classmates, professors, and professionals within your industry.
You are one contact away from a completely different life.
Projections For Growth In IT Risk Management Jobs
Jobs in IT Risk Management are here to stay. According to the Bureau of Labor and Statistics (BLS), employment is projected to grow 35% from 2021 to 2031.
In Summary: Is IT Risk Management A Good Career?
Yes.
There is a massive demand for IT Risk Managers, and it can be gratifying to think about just how crucial your role is in protecting an organization.
This job can be fulfilling for those who love problem-solving and working with complex systems.
This career also provides flexibility allowing you to work remotely and pays incredibly well.
Securing a job at a tech giant often provides excellent vacation time.
There is no better time to pursue a career in IT Security as the demand will only keep growing.
This job is also complex because your tasks are never repetitive and mundane, making work engaging.
Working Conditions
Can An IT Risk Manager Work Remotely From Home?
Yes.
Due to the nature of their work, IT Risk Managers can perform all of their work remotely.
How Many Hours Does An IT Risk Manager Work?
IT Risk Managers work 40 hours a week.
However, as they secure senior positions in organizations later in their career, they may start working significantly more hours.
There can also be situations where there is a cyberattack, and IT Risk Managers must work around the clock to protect the company.
Can An IT Risk Manager Work Part-time?
While working part-time for a small company may be possible, the most prominent organizations require employees to work full-time.
In this industry, to be employed at top companies in the US, you need to be truly exceptional at what you do; there is no room for part-time work ethic and mediocrity.
What Are The Average Vacation Days Of An IT Risk Manager?
According to Indeed, the average number of vacation days among employees in the US is 11 days.
Several companies reward long-term employees with additional vacation days.
It is also worth noting that tech companies have a reputation for having the best vacation policies.
Alternative Careers & Similar Jobs to an IT Risk Manager
- UI Developer
- Product Manager
- UX Designer
- Sound Engineer
- Product Engineer
- Application Developer
- Computer Engineer
- Technical Program Manager
- DevOps Engineer
- AI Engineer
- Cloud Architect
- Security Manager
- IT Manager
IT Risk Manager Resume Tips
Doing summer internships during your University years will be one of the most beneficial things you will do for your career.
Creating strong relationships with professors and managers that can later write you letters of recommendation is paramount.
If you don’t have any relevant job experience for the job you are applying for, focus on highlighting transferable skills that will help you in this position.
IT Risk Manager Interview Questions
Q1: How do you mitigate risk?
Why this works: The hiring manager wants to see how you prioritize risks.
Q2: How can you perform risk identification?
Why this works: This is an opportunity for you to show the hiring manager that you are good at identifying risks.
Q3: Explain The Meaning Of Risk Breakdown Structure
Why this works: This is where you explain your familiarity with risk management tools.
Jobs Related To IT Risk Management
- Cyber Security Specialist
- Risk & Compliance Specialist
- Enterprise Risk Manager
- IT Auditor
- IT Risk Advisor
- Risk Management Director
- Risk Manager
For HR Manager: Tips For Hiring an IT Risk Manager
Key Characteristics To Look For In Hiring An IT Risk Manager
- Thrives Under Pressure: It is critical for a candidate to be comfortable working in stressful situations. This position holds a lot of responsibility, and there is little to no room for error.
- Self-Motivated: The amount of personal development and constant learning required in a position like this is extensive, and finding a candidate who has dedicated themselves to having a growth mindset is necessary.
- Personable: While most of this job is quite technical, it is still essential for IT Risk Managers to have emotional intelligence and the ability to build strong relationships with the people they work with
Minimum Level Of Education & Experience
In most cases, IT Risk Managers should have an undergraduate degree in computer technology and 5-10 years of experience.