How much does a Risk Analyst I make in Minnesota? The average Risk Analyst I salary in Minnesota is $64,434 as of February 26, 2024, but the range typically falls between $56,727 and $74,126. Salary ranges can vary widely depending on the city and many other important factors, including education, certifications, additional skills, the number of years you have spent in your profession.

Risk Analyst I Salaries by Percentile
Percentile Salary Location Last Updated
10th Percentile Risk Analyst I Salary $49,711 MN February 26, 2024
25th Percentile Risk Analyst I Salary $56,727 MN February 26, 2024
50th Percentile Risk Analyst I Salary $64,434 MN February 26, 2024
75th Percentile Risk Analyst I Salary $74,126 MN February 26, 2024
90th Percentile Risk Analyst I Salary $82,950 MN February 26, 2024
25% $56,727 10% $49,711 90% $82,950 75% $74,126 $64,434 50%(Median) Didn’t find job title? Click
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What skills does a Risk Analyst I need?

Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.

1.

Risk Management: Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from various sources including uncertainty in financial markets, threats from project failures (at any phase in design, development, production, or sustainment life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root-cause. There are two types of events i.e. negative events can be classified as risks while positive events are classified as opportunities. Several risk management standards have been developed including the Project Management Institute, the National Institute of Standards and Technology, actuarial societies, and ISO standards. Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety.

2.

Accounting: Creating financial statements and reports based on the summary of financial and business transactions.

3.

Life insurance: Life Insurance can be defined as a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period

Risk Management 9.76%
Accounting 1.55%
Life insurance 0.9%
Others 87.79%

Job Description for Risk Analyst I

Risk Analyst I evaluates the vulnerability of an organization's assets to determine the potential risk factors. Performs statistical analysis to quantify risk and forecast probable outcomes. Being a Risk Analyst I prepares reports and presents findings to assist management with decision-making while offering solutions to minimize or eliminate risks. Monitors internal and external risk factors including economic, market, and regulatory risks to continuously maintain maximum protection of an organization's assets. Additionally, Risk Analyst I supports managers in risk management or risk model construction. Requires a bachelor's degree. Typically reports to a supervisor. The Risk Analyst I work is closely managed. Works on projects/matters of limited complexity in a support role. To be a Risk Analyst I typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)... View full job description

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Job Openings for Risk Analyst I in Minnesota

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Location Avg. Salary Date Updated
Location Lakeville, MN Avg. Salary $66,572 Date Updated February 26, 2024
Location Minnetonka, MN Avg. Salary $66,986 Date Updated February 26, 2024
Location Ada, MN Avg. Salary $58,046 Date Updated February 26, 2024
Location Adams, MN Avg. Salary $62,466 Date Updated February 26, 2024
Location Adolph, MN Avg. Salary $60,202 Date Updated February 26, 2024
Location Adrian, MN Avg. Salary $55,499 Date Updated February 26, 2024
Location Afton, MN Avg. Salary $66,496 Date Updated February 26, 2024
Location Ah Gwah Ching, MN Avg. Salary $59,140 Date Updated February 26, 2024
Location Aitkin, MN Avg. Salary $59,687 Date Updated February 26, 2024
Location Akeley, MN Avg. Salary $58,891 Date Updated February 26, 2024

Career Path for Risk Analyst I

A career path is a sequence of jobs that leads to your short- and long-term career goals. Some follow a linear career path within one field, while others change fields periodically to achieve career or personal goals.

For Risk Analyst I, the first career path typically progresses to E-commerce Risk Director.

The second career path typically progresses to Environmental Risk Management Specialist.

The third career path typically starts with an Insurance Risk Analyst II position, and then progresses to Insurance Risk Analyst IV.

Additionally, the fourth career path typically starts with a Risk Analyst II position, and then progresses to Risk Analyst IV.

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Risk Analyst I Salary in Minnesota
Risk Analyst I Salary Graph, Regional Distribution and Summary