Government contracts involve large-scale projects with strict compliance, security, and operational requirements. A Risk Management Analyst plays a crucial role in identifying, assessing, and mitigating risks to ensure that government programs remain secure, cost-effective, and efficient.
What does a Risk Management Analyst do on Government Contracts?
A Risk Management Analyst is responsible for evaluating potential risks that could impact a government project, whether they relate to cybersecurity, finance, operations, or compliance. Their responsibilities include:
- Risk Identification & Assessment: Analyzing potential threats to project success, including financial risks, security vulnerabilities, and regulatory concerns.
- Risk Mitigation Planning: Developing strategies to reduce or eliminate risks while ensuring compliance with federal regulations.
- Monitoring & Reporting: Continuously tracking risk factors and preparing reports to inform decision-making.
- Compliance & Regulatory Adherence: Ensuring that projects align with government standards such as NIST, FISMA, and FedRAMP.
- Stakeholder Coordination: Collaborating with project managers, cybersecurity teams, and federal agencies to implement risk controls.
Risk Management Analyst Job Description
A Risk Management Analyst on a government contract is responsible for identifying and analyzing risks that could impact federal programs. This role requires expertise in risk assessment frameworks, regulatory compliance, and mitigation strategies. The analyst must work closely with multiple stakeholders to develop risk response plans and ensure government systems remain secure and operational.
Job Requirements for a Risk Management Analyst
REQUIRED KNOWLEDGE, SKILLS, AND ABILITIES:
- Strong understanding of risk management methodologies (e.g., NIST Risk Management Framework, ISO 31000).
- Experience with government compliance frameworks such as FISMA, FedRAMP, and NIST 800-53.
- Ability to analyze large datasets to identify trends and potential risks.
- Proficiency with risk assessment tools and software (e.g., RSA Archer, FAIR Model).
- Strong communication and reporting skills for delivering risk analysis to stakeholders.
EDUCATIONAL BACKGROUND AND EXPERIENCE:
- Bachelor’s degree in Risk Management, Cybersecurity, Business, or a related field.
- 3-5 years of experience in risk assessment, compliance, or security in a government environment.
- Certifications such as CRISC (Certified in Risk and Information Systems Control) or CISSP (Certified Information Systems Security Professional) preferred.
WORKSPACE/PHYSICAL REQUIREMENTS:
- Office-based work with extensive use of data analysis and risk management tools.
- May require occasional travel for risk assessment meetings and compliance audits.
What does a typical job posting look like for a Risk Management Analyst?
Job Title: Risk Management Analyst (Government Contracts)
“We are seeking a Risk Management Analyst to evaluate, assess, and mitigate risks associated with government IT and operational programs. The ideal candidate will have experience in risk assessment methodologies, compliance frameworks, and security best practices.”
ESSENTIAL JOB FUNCTIONS:
- Conduct risk assessments to identify and evaluate security, operational, and financial risks.
- Develop risk mitigation plans and recommend corrective actions to stakeholders.
- Ensure compliance with federal risk management standards such as NIST, FISMA, and FedRAMP.
- Work with government agencies to establish risk management policies and procedures.
- Prepare risk analysis reports and present findings to project teams and leadership.
Salary Range
The salary for a Risk Management Analyst on government contracts typically ranges from $85,000 to $120,000 per year, depending on experience, certifications, and project complexity.