IT Risk Analyst

IT Risk Analyst Job Description

The IT risk analyst performs various functions to identify risks and recommend best practices for risk management and IT security within an organization. Their focus is on risk analysis, analyzing cyber threats, correlating cyber attack patterns, and preventing future cyber attacks. They identify and analyze cyber security threats to the organization as well as the potential impact of these and other risks on the business and its customers. Using a range of sources and monitoring platforms, the IT risk analyst will follow the main trends and communicate their analysis to all stakeholders in a clear manner. The IT risk analyst job description will often require working in a complex operating environment and providing high-quality advice to inform tactical, operational, and strategic decisions at all levels.

 Information technology risk analyst jobs include analyzing risk metrics and identifying risks that threaten company stability. They must have an understanding of current and emerging technological trends and be able to implement appropriate security controls to keep the company's computer network secure. Their job description also requires an awareness of IT standards, regulations, and laws in their field. As information technology risk analysts are responsible for ensuring the security of a large amount of sensitive data and personal information, they must stay informed to maintain compliance with the latest regulations and laws affecting IT standards.    

The information technology risk analyst uses analytical skills to make decisions based on multiple variables and options and a solid understanding of the risks involved. They are responsible for examining applications from new customers, requesting supportive and missing data and information, and working with other agencies to collect even more data. Understanding the way their organization operates and the various internal and external factors that may affect its performance and IT security is vital to this role. An organization defines and calculates its key risks in terms of its business model, business strategy, financial risks and position, and management.  

Strong communication skills are necessary to communicate technological concepts and techniques in daily work. Analytical thinking skills are also crucial, as they must apply a high level of technical knowledge and skill while working in a fast-paced environment. This role also requires strong problem-solving skills and the ability to work independently to successfully perform the assigned tasks.

IT risk analysts must learn effective methods to manage risk and have the ability to analyze complex data, interpret laws, and represent management views. They have a good understanding of all risk-related claims and procedures relating to their industries’ products and services. They need to learn how their industry develops and how companies face challenges. Their job description includes identifying and measuring operational and corporate risks within the organization and then using this awareness to inform business decisions using risk management principles. Their role is to formalize the process of managing risk within the organization. The job description of an IT risk analyst requires forecasting future technology trends and managing the security and health of the company.  

Many employers require IT risk analysts to possess a bachelor's degree or higher in a field such as computer science, mathematics, or statistics. Certifications such Certified Information Security Manager (CISM), Certified Information Systems Security Professional (CISSP), Certified in Risk and Information Systems Control (CRISC), or similar certifications may be desirable. Common industries hiring these professionals include banks, insurance companies, financial institutions, and other businesses that manage large amounts of money.