Unexpected risks are always present in the course of business operations. A wide variety of risks can impact an organization, ranging from natural disasters, accidents, and legal troubles to information breaches and revenue decline.
Anticipating these risks in advance and establishing a system to respond appropriately when they occur is essential for companies aiming for sustainable growth. Risk management consultants play a critical role in this effort.
In this article, we will explain in detail the work of a risk management consultant, the qualities and qualifications required, and the career steps involved.
＼ 転職エージェントがご相談に乗ります ／
What Is a Risk Management Consultant?
A risk management consultant is a consultant who identifies the uncertainties faced by companies and organizations and designs mechanisms to minimize damage. In recent years, the pace of social change and technological advancement has accelerated, increasing the demand for professionals who can accurately manage risk.
Rather than simply avoiding risk, the key feature of this role is controlling risk while maintaining a balance that does not hinder corporate growth. Consultants are required to integrate risk management with business strategy and operational processes, and to build systems that deliver sustainable results.
Furthermore, the risks involved are wide-ranging—including natural disasters, regulations, information security, and personnel issues—requiring multifaceted knowledge and experience. Consultants engage with everyone from senior management to frontline staff and play a vital role in embedding risk response throughout the entire organization.
【募集中のコンサルタント求人】
The article was not found.
Why Is the Demand for Risk Management Consultants High?
Why is the demand for risk management consultants growing?
Below, we explain the reasons in detail.
1. Because Economic Crime Is Increasing
The growing need for risk management consultants is related to the rise in economic crime.
Economic crime refers to crimes related to economic activity, such as misappropriation of assets, cybercrime, and procurement fraud.
According to PwC’s 2024 survey, 41% of companies globally and 34% in Japan reported having been victimized by economic crime in the past two years.
With nearly half of all companies experiencing economic crime, more organizations are turning to risk management consultants to prevent risks before they occur.
Reference: PwC “Global Economic Crime Survey 2024 Japan Analysis“
2. Because They Provide an Objective View of Corporate Risk
By utilizing risk management consultants, companies can gain an “objective perspective”. When risk management is conducted internally only, it is not uncommon for risks to be overlooked due to internal bias or preconceptions.
By engaging an external risk management consultant, companies can identify risks from an objective standpoint.
In addition, because risk management consultants possess past case knowledge and specialized expertise, they can provide more accurate assessments—another key advantage.
3. Because They Provide Support for Concrete Risk Countermeasures
The support they provide for risk countermeasures is another reason demand for risk management consultants is growing. Having worked with a wide variety of companies and industries, risk management consultants are familiar with a diverse range of risk scenarios.
As a result, they can not only propose the most suitable risk countermeasures for your company, but also provide practical support using specialized know-how and methodologies.
4. Because They Can Help Build Risk Management Frameworks
Risk management consultants are also expected to support the development of risk management frameworks. To implement risk management efficiently, it is important to establish processes covering risk identification, analysis, evaluation, and response.
The expertise of risk management consultants is valuable in optimizing these processes.
What Does a Risk Management Consultant Do?
The work of a risk management consultant is extremely wide-ranging depending on the situation. Here, we introduce three representative areas of engagement.
1. Analysis of Property Loss Risk and Formulation of Countermeasures
Companies may face property losses due to natural disasters, accidents, theft, and other events.
Risk management consultants first identify the current state of assets and assess the types and impact of potential risks. They then present concrete plans, such as introducing insurance or securing alternative means.
In addition, developing a recovery plan in advance in the event that a risk materializes is also important. By establishing a system capable of taking swift initial action to prevent damage from spreading, the impact on business continuity can be minimized. Consultants are also called upon to conduct training for frontline staff and management to enhance the effectiveness of these plans.
2. Scenario Design for Revenue Decline Risk
Due to market fluctuations and competitor movements, companies may suddenly face a decline in revenue.
Risk management consultants analyze the revenue structure and identify which elements have vulnerabilities that could contribute to a revenue decline. They map out multiple risk scenarios and clarify the countermeasures to be taken in the event of a revenue decrease.
For example, if revenue sources are concentrated among specific customers or products, they may propose diversifying business partners or exploring new markets.
In addition, when preparing for the risk of being drawn into price competition, introducing value-added services may also be considered. Such strategies contribute not only to short-term stability but also to building a foundation for medium- to long-term growth.
3. Proposing Responses to Liability and Legal Risk
When a product accident or data breach occurs, a company may not only face liability claims but also risk losing its social credibility.
Risk management consultants research relevant laws and regulations and support the development of systems to minimize legal risk. Implementing compliance education and building internal audit mechanisms are part of this effort.
It is also necessary to prepare scenarios for the initial response in the event of litigation or complaints. Coordinating with the legal department and external lawyers to formulate a comprehensive plan—including evidence preservation and public relations response—is highly effective. This ensures that a system is in place to respond swiftly even in unforeseen circumstances.
＼ 転職エージェントがご相談に乗ります ／
Salary of a Risk Management Consultant
The salary of a risk management consultant varies depending on employment type.
As a Company Employee
The average salary for a salaried risk management consultant varies depending on individual experience and skills. The following are approximate salary benchmarks for salaried risk management consultants.
| Experience | Approximate Annual Salary |
|---|---|
| Shortly after joining | Approx. ¥5–8 million |
| Consultant with some experience | Approx. ¥10 million |
| Leader level | Approx. ¥15 million |
The national average annual salary in Japan for fiscal year 2024 was ¥4.78 million.
This suggests that even entry-level risk management consultants can aim for an income higher than the national average.
Reference: National Tax Agency “Survey on Private Sector Wage and Salary Statistics, 2024“
As a Freelancer
The average annual income for a freelance risk management consultant is approximately ¥5 million to ¥20 million.
For freelancers, annual income can vary significantly depending on the number of projects handled, the scale of projects, and project duration, which is why there is a wide range in the average.
Risk management consultants with a strong track record and skill set can secure high-value projects, making it possible to aim for a higher income than a salaried employee.
フリーランスの方はこちら【みらいワークス関連サービス】 ＼約950社以上の取引実績あり／
＞＞ フリーランスコンサルタントのための案件紹介サービス【フリーコンサルタント.jp】
What Kind of Person Is Suited to Be a Risk Management Consultant?
A risk management consultant requires not only expertise but also personal suitability. Here, we describe three key characteristics that are particularly sought after.
1. People with a Strong Sense of Responsibility and High Ethical Standards
In the field of risk management, earning the trust of clients is paramount.
A lack of ethical standards can lead to inaccurate risk assessments and advice, causing significant harm to the organization. Therefore, people with a strong sense of responsibility and a sincere attitude are best suited for this role.
Furthermore, there will be occasions when difficult proposals must be made to senior management or employees. The ability to accurately convey facts—even when they are unfavorable to the organization—and to act in the best long-term interests is essential. Not being swayed by short-term interests forms the foundation of trust.
2. People with Problem-Finding Ability and Insight
Many risks exist in a latent state, rather than being apparent on the surface.
Therefore, the ability to detect issues and the insight to dig deeper are indispensable. A broad perspective that goes beyond simple data analysis and takes into account industry trends and the business environment is necessary.
In many cases, clients themselves are not fully aware of the risks they face. Through interviews and on-site observation, the ability to surface unspoken challenges is also required. This is where experience-based insight—not just knowledge—plays a major role.
3. People Who Can Communicate Smoothly with Diverse Stakeholders
Risk management involves a wide range of stakeholders, including not only senior management but also frontline staff and external specialists. Therefore, the ability to build trust with people in different positions and work collaboratively is also essential. People with flexible communication skills are better positioned to thrive as risk management consultants.
In addition, since risk-related content is often specialized and complex, the ability to explain it clearly in a way that is appropriate for the audience is required. Breaking down complex content and facilitating understanding helps create an environment in which measures can actually function.
Furthermore, during emergencies, it is necessary to support decision-making in a short amount of time. The ability to remain calm and serve as a coordinator is a major strength for a risk management consultant.
【募集中のコンサルタント求人】
The article was not found.
Examples of What Risk Management Consultants Work On
Here, we introduce examples of actual settings where consultants carry out risk management.
1. Risk Assessment in the Supply Chain
In manufacturing and distribution, disruption to the supply chain poses a serious business risk. Natural disasters and changes in the international situation can make it impossible to obtain raw materials and components. Securing alternative routes and reviewing inventory strategies are therefore critical.
Consultants investigate the risks of business partners and identify areas of high dependency. They then quantify the impact if those risks materialize and propose priority areas for strengthening. In practice, efforts are made to diversify procurement sources in order to spread risk.
2. Risk Scenario Development at the Time of New Business Launch
New businesses bring significant growth opportunities, but they also come with a variety of risks. It is essential to identify risks such as market uncertainty, regulatory changes, and technical challenges in advance, and to design appropriate scenarios.
Consultants conduct market research and competitive analysis to organize potential risks. Based on the results, they map out multiple scenarios and examine countermeasures tailored to each stage of business development, thereby increasing the probability of success.
In addition, sharing risk scenarios enables senior management and frontline staff to share a common understanding. Creating an environment where the entire organization can move in the same direction enhances the stability of business execution.
3. Building and Supporting the Operation of Internal Reporting Systems
Many corporate scandals are detected early through information provided from within the organization. It is therefore important to develop an internal reporting system and create a mechanism that employees can use with confidence. Ensuring anonymity and thorough protection against retaliation builds trust.
Consultants become involved from the system design stage and propose reporting channels that are suited to the company’s culture. In addition, establishing an external reporting window can create an environment where employees feel even more comfortable using the system.
Organizing the investigation process and improvement procedures following a report is also indispensable. If appropriate action is not taken, employees will lose trust and the system will become a mere formality.
4. Crisis Simulation and Training
In risk management, preparation during normal times is key. Conducting simulations that assume a crisis will occur and verifying that the response system can actually function is essential.
Consultants create scenarios and conduct training involving both management and frontline staff. Experiencing how to respond to unexpected situations reveals weaknesses.
Furthermore, simulations are most effective when conducted continuously rather than as a one-off exercise. Updating the content in response to environmental changes ensures preparedness for the latest risks at all times.
Popular Qualifications for Risk Management Consultants
In the field of risk management, holding a qualification allows you to objectively demonstrate your expertise and gives you an advantage in career development. Here, we highlight four representative qualifications and explain the features of each.
1. RMCA-J Risk Consultant Qualification
The RMCA-J Risk Consultant Qualification is a private-sector qualification certified by the Japan Risk Manager & Consultant Association.
It is characterized by enabling systematic study of a wide range of knowledge related to risk management, and is particularly useful for those planning to work within Japan. It can be used by a wide range of people, from beginners to experienced professionals, as it allows for step-by-step learning from the basics through to practical application.
2. CRISC (Certified in Risk and Information Systems Control)
CRISC is a qualification certified by ISACA, an international IT audit organization. Its full name is “Certified in Risk and Information Systems Control,” and it specializes in risk management in information systems.
This qualification covers a full range of processes including IT risk identification, assessment, design of countermeasures, and monitoring. It is highly regarded in the fields of information security and systems auditing, and there is particularly strong demand in companies undergoing digitalization.
Furthermore, as it is an internationally recognized qualification, it is also effective for working in foreign-affiliated companies or organizations with global operations. It is a suitable choice for those who want to build strength in the information systems field.
3. CRMA (Certification in Risk Management Assurance)
CRMA is a qualification certified by the IIA (Institute of Internal Auditors), and its full name is “Certification in Risk Management Assurance.” Its content centers on linking internal auditing with risk management, and it is useful for strengthening corporate governance.
This qualification develops skills to evaluate the effectiveness of internal controls and propose improvements. A distinguishing feature is the ability to advise senior management from a risk management perspective, going beyond the scope of auditing.
It is particularly suited to those seeking to build a career in audit or risk management departments, and is an effective qualification for those aiming to play a role in enhancing overall corporate reliability.
4. Registered Information Security Specialist (情報処理安全確保支援士)
The Registered Information Security Specialist is a national qualification in Japan that certifies professionals in the field of cybersecurity. It is attracting increasing attention as it can prove a high level of knowledge in responding to information security risks.
Obtaining this qualification demonstrates the ability to address risks such as cyberattacks and information breaches from both a technical and managerial perspective. The ability to combine a management viewpoint with a technical viewpoint is a major strength.
Furthermore, the Registered Information Security Specialist is a registered qualification, and ongoing training is required. This allows holders to constantly update their latest knowledge and remain ready to contribute as an immediate asset in the field.
＼ 転職エージェントがご相談に乗ります ／
Steps to Becoming a Risk Management Consultant
When aiming to become a risk management consultant, it is important to build up knowledge and experience step by step.
1. Learn the Fundamentals of Risk Management
First, learn the foundational knowledge of risk management. The scope of study is broad, covering the definition and classification of risk, assessment methods, and risk control techniques. It is important to study systematically through introductory and specialized texts and to understand basic terminology and concepts.
In addition, researching past cases such as financial crises and large-scale disasters helps connect abstract knowledge to reality. For example, studying financial risk management during the Lehman Shock or Business Continuity Planning (BCP) during the Great East Japan Earthquake allows knowledge to accumulate as lived experience.
Rather than studying foundational knowledge in isolation, simultaneously pursuing knowledge in adjacent fields such as legal affairs, accounting, and information security will deepen your overall understanding.
2. Develop Skills Through Practical Experience and Related Work
If you are seriously aiming to become a risk management consultant, accumulating practical experience is essential.
Working in a company’s risk management department, audit department, or legal/compliance department, and confronting the specific risks that arise on the ground, is important.
For example, the following types of experience allow you to understand how risk affects business decisions:
- Participating in an internal control development project
- Taking responsibility for supply chain risk analysis
- Developing a manual for responding to information breaches
- Being involved in on-the-ground decision-making and coordination
It is not necessary to start out in a specialist risk management role from the beginning. Risk-related situations arise in many areas, including sales, human resources, and systems.
Accumulating experiences where you can speak to “how you approached risk” in your area of responsibility will become a great asset later on.
3. Deepen Expertise Through Qualifications and Training
To consolidate knowledge gained through practical experience, obtaining qualifications and attending training is effective. Qualifications serve as an objective means of demonstrating skills and have the effect of building credibility with companies and clients.
For example, in Japan, the RMCA-J Risk Consultant Qualification is available, while internationally recognized options include CRISC and CRMA. For those who want to build strength in information security, the national qualification of Registered Information Security Specialist is also effective.
The advantage of combining qualifications is that it allows you to clearly demonstrate your own strengths.
In addition to obtaining qualifications, actively participating in training and seminars held by companies and associations allows you to stay abreast of the latest developments. In particular, since topics in new fields such as AI, cyberattacks, and geopolitical risk are constantly evolving, a commitment to continuous learning is indispensable.
4. Effectively Utilize Recruitment Agencies
Once you have deepened your expertise, utilizing a recruitment agency as a career stepping stone is an effective approach.
Agencies specializing in risk management are aware of job openings and project-based assignments that are not publicly listed, and can assist you in efficiently searching for your next stage.
Agencies do more than simply introduce job openings—they also review your résumé and help you prepare for interviews, and advise you on how to present yourself effectively for the industry. Since the consulting industry has high hiring standards, receiving professional support increases the likelihood of success.
Furthermore, it is also important that through an agency you can obtain information on market trends and future demand forecasts. For example, information indicating that demand is growing in areas such as financial risk and cybersecurity is directly relevant to career development.
【募集中のコンサルタント求人】
The article was not found.
List of Companies Where Risk Management Consultants Are Active
So, at what kinds of consulting firms do risk management consultants work?
Here, we introduce examples of companies where risk management consultants are employed.
1. Tokio Marine dR Co., Ltd.
Tokio Marine dR Co., Ltd. is a consulting firm of the Tokio Marine Group, established in 1996. In 2021, the company changed its name from Tokio Marine Nichido Risk Consulting Co., Ltd. to Tokio Marine dR Co., Ltd.
The company provides consulting services covering a wide range of risks, including management and governance, compliance, natural disasters, renewable energy and infrastructure, and political and geopolitical risk.
2. PwC Japan LLC
PwC Japan LLC is a member firm of PricewaterhouseCoopers (PwC), one of the Big Four. It was formed on December 1, 2023, through the merger of PwC Arata LLC and PwC Kyoto Audit Corporation.
Leveraging its global network, the firm provides Broader Assurance Services (BAS) across a wide range of areas including internal controls, governance, and cybersecurity.
In its mid-career hiring, the firm recruits for positions such as Digital Business Risk Consultant.
3. KPMG Japan
KPMG Japan is a member firm of KPMG International, which is positioned as one of the Big Four.
Drawing on the know-how accumulated through previous engagements, the firm provides broad support in areas such as digital risk management, governance and risk management, and responses to economic security and geopolitical risk.
KPMG Japan recruits ESG and Strategic Risk Consultants to handle areas ranging from management strategy formulation and organizational design to governance and risk management frameworks.
4. Risk Consulting Co., Ltd.
Risk Consulting Co., Ltd. is a company established in 1978.
The company engages in a range of businesses including management consulting, non-life insurance agency services, services commissioned by non-life insurance companies, and life insurance solicitation.
Leveraging its proprietary risk management techniques, the company provides consulting on risk hedging through insurance.
5. Deloitte Tohmatsu LLC (formerly Deloitte Tohmatsu Risk Advisory LLC)
Deloitte Tohmatsu LLC is a company formed through the merger of the former Deloitte Tohmatsu Consulting LLC, Deloitte Tohmatsu Financial Advisory LLC, and Deloitte Tohmatsu Risk Advisory LLC.
The firm provides risk advisory services across areas including Accounting & Internal Controls, Cyber, Strategic, and Regulatory.
For basic knowledge about the Big Four, please refer to the article below.
6. Newton Consulting Co., Ltd.
Newton Consulting is a member firm of the Newton Group, headquartered in London, UK. The Japanese entity was established in November 2006.
The firm specializes in risk management consulting and provides integrated support from strategy development through to implementation.
The company recruits Risk Management Consultants and IT Security Consultants through mid-career hiring.
＼ 転職エージェントがご相談に乗ります ／
Conclusion
Risk management consultants play a critical role in analyzing the diverse risks faced by companies and organizations, and in designing and implementing countermeasures. They are involved in a broad range of areas including property loss, revenue decline, and legal risk, and fulfill a responsibility to protect social credibility.
What risk management consultants need is not only specialized knowledge, but also a sense of responsibility, insight, and flexible communication skills. By accumulating qualifications and experience, they can further enhance skills that are directly applicable in practice.
By building up knowledge and experience step by step and shaping your career appropriately, you will be able to thrive as a risk management consultant across a wide range of fields.
