Risk Management Business Analyst Role Description
When you join McKinsey as a business analyst, you are joining a firm that will challenge you and invest heavily in your professional development. You will build leadership skills beyond what you thought possible and gain access to the most extraordinary leadership network in the world. Risk business analysts spend half of their time working on financial risk management relations studies. The other half of their time is spent working on client teams as generalist business analysts, across a variety of industries and functional areas. The risk business analyst role is designed for individuals interested in management consulting, but with a desire to learn more about risk management topics.
The business analyst at McKinsey is a full member of the client engagement team. You will work closely with your McKinsey colleagues and with the client team on the client site and you will “own” your piece of the project. Some examples of the specific work a McKinsey business analyst might do include: interviewing clients, building financial models, making presentations, leading client teams and working with McKinsey subject experts to develop perspectives and insights for the client.
Typically, our engagements last between 6 to 12 weeks. As a business analyst, you will be assigned to one engagement at a time.
About Risk Management
The Global Risk practice links together a global community of consultants who specialize in helping the world’s leading companies to create value in a turbulent world. We combine superior industry insight and a strategic mindset with a structured approach to managing consistently for the right risk-return trade-offs.
Our Global Risk practice consists of over 50 partners and 250 consultants supported by a network of 60 experts, specialists, analysts and our risk analytics team focused on risk modeling and tool development. To deliver on the cross-functional nature of our works, we are fully integrated into the broader McKinsey community, with particularly strong link to the financial services and energy sectors.
For more information on the Risk Practice, please visit our website.
The McKinsey risk business analyst role is offered in New York and Boston.
Ideal candidates for the risk business analyst position:
• Are about to complete, or have just completed, an undergraduate or masters degree or 1 to 3 years of work experience after completing your undergraduate degree.
• Have a clear interest in a broad range of business, strategy and finance topics.
• Have demonstrated an understanding of statistics, applied mathematics, and/or finance.
• Have a strong commitment to excellence and personal and professional growth.
• Have demonstrated outstanding academic achievement and an aptitude for analytics.
• Have a strong record of leadership in a work setting and/or extracurricular activities.
• Enjoy working in teams.
• Find problem solving exhilarating.
• Are resourceful, responsible, patient, tenacious, informed, independent, confident, and full of energy.
Depending on your experience before joining McKinsey, you may participate in the five-week online Business Bridge program conducted by the Tuck School of Business at Dartmouth University. This course will provide you with the core knowledge required to help you as a new consultant with McKinsey including skills in the disciplines of finance, financial accounting, managerial economics, and marketing.
You will also attend a one-week learning program upon joining the firm that is designed to equip you with the basic consulting skills you need on your first engagement team. After approximately one year of consulting, you will attend Business Analyst Training, which is a one-week course in advanced problem solving, interpersonal, and communications skills.
Other programs and learning resources will also be available to you, depending on your personal development needs to build specific skills (such as problem solving or communications), and/or provide additional industry (e.g., electronics, consumer goods, health care, financial services) and functional knowledge (e.g., marketing, sales, corporate finance, business dynamics, strategy).
In addition to formal training, your professional development continues through the range of experiences you gain on engagement teams, which may involve working in other offices or other countries. Every business analyst has a Development Group Leader, a senior member of the firm who offers guidance on career choices and engagement assignments. Also, you will naturally build informal mentor relationships with team members and office colleagues.
The business analyst role is your entry into what we hope will be a rewarding, challenging, and highly flexible career at McKinsey. After approximately two years, we encourage you to spend your third year pursuing an experience that will truly broaden your leadership and problem solving capabilities. Many BAs choose to work in international offices (e.g., Asia, Europe), join functional practices (e.g., corporate finance, marketing, operations), pursue nonprofit externships or take on client rotations. After this experience, business analysts either stay with the firm to advance to associate roles or attend graduate school with financial support from McKinsey.
We are committed to supporting you in whatever career path is most exciting to you and best fits your development goals. We believe the BA role provides an outstanding starting point for a long-term relationship with McKinsey and we look forward to working with you to shape a personalized, highly compelling set of experiences.