Risk Management Specialist

Risk management specialists manage financial risk for agricultural producers by identifying, measuring and advising on risks for an organization. They analyze and work with data based on studies they have conducted to test the impact of decisions being considered. Risk management specialists will also communicate risk policies and processes for an organization in a way that is easy to understand.

What Responsibilities Will I Have?

  • Find strategies to reduce price risk on agricultural commodities
  • Use software to create models of decision effectiveness and trends
  • Design and implement an overall risk management blueprint for an organization
  • Look at the impact of pests, disease and ecological factors
  • Research agricultural data and government agency reports
  • Conduct economic impact studies
  • Prepare risk management and insurance budgets
  • Ensure compliance with U.S. Generally Accepted Accounting Principles (GAAP)
  • Develop, monitor and communicate risk management measurement procedures
  • Analyze current risks and identify potential risks that may affect the company
  • Create weather forecasts and financial forecasts for farmers
  • Provide hedging (taking steps to protect assets) strategy recommendations with varying risk tolerances
  • Monitor commodity prices and potential threats to prices
  • Provide daily or weekly credit and risk reports to clients based on their needs
  • Review any new major contracts or internal business proposals
  • Conduct market research on best practices, competitive landscape and new hedging tools
  • Build risk awareness amongst staff by providing support and training

Recommended High School Courses:

  • agricultural education
  • math
  • statistics
  • business
  • personal finance
  • accounting

Education/Training Required:

A bachelor’s degree in agricultural business, accounting, finance, law, statistics or a related field is a base requirement to be a risk management specialist. A master’s degree in business administration, risk management or a related field may be preferred.

AgExplorer Partners