Risk Management Specialist

Risk Management Specialist

Risk management specialists manage risk for producers by identifying, measuring and advising on decisions related to financial risk for an organization. They conduct economic impact studies to look at the long- and short-term impact on policies being considered.
What Responsibilities Will I Have?: 
  • Find strategies to reduce price risk on agricultural commodities
  • Use software to create models to look at hedge effectiveness and trends
  • Look at the impact of pests, disease and ecological factors
  • Use agricultural data and government agency reports
  • Conduct economic impact studies
  • Ensure compliance with U.S. Generally Accepted Accounting Principles (GAAP)
  • Develop, monitor and communicate risk management measurement procedures
  • Develop weather forecasts and financial forecasts for farmers
  • Provide hedging 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
  • Conduct market research on best practices, competitive landscape and new hedging tools
Recommended High School Courses: 
The following high school courses are recommended: agricultural education, math, statistics and accounting.
Education/Training Required: 
A bachelor’s degree in agricultural business, accounting, finance or related field is a base requirement. A master’s degree in business administration, risk management or other related field may be preferred.
Future Job Market Outlook: 
Typical Employers: 
Risk management specialists can work for agricultural marketing groups, banks, grain merchandisers or consulting firms. Some in the risk management field are self-employed.
Suggested Professional Organizations and Associations: 
  • National Grain and Feed Association
  • State Grain Marketing/Merchandising Association
  • The Risk Management Society
  • Public Risk Management Association 
Average Annual Full-Time Salary: 
$107,000
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Salary data is provided by the AgCareers.com Compensation Benchmark Review™. These salaries should be considered as examples and are provided for educational and exploratory purposes. The salary information provided should not be used as a benchmark. Actual salaries are influenced by numerous variables including but not limited to demographics, size and scope of the role, level of experience, qualifications, and education of the worker.