With a recent salary hike by $50,000, Vikram Singh, working as an IT Risk Manager in Ottawa, is now in the range of $110,000 to $160,000. That is quite a significant whitening of pockets, but again it speaks to the rational need for IT risk managers and the market for skilled people in this role.
What does an IT risk manager do?
IT risk managers like Singh are responsible for identifying risks in IT and managing the same appropriately. Overall responsibilities include the implantation of risk management strategies, putting in place appropriate security controls, and ensuring that the regulatory guidelines are complied with. The major responsibilities are supposed to enable Singh to analyze effectively the possible threats in IT systems, improve operational effectiveness of the controls in existence, and recommend improvements to lower each risk.
Salient Factors that Underpin Salary Growth
This gets even more complicated with time as the IT environments are becoming increasingly complicated, and organizations feel the growing need to get more mature IT Risk Managers. Organisations are also investing more in risk management to protect such threats to their systems and data, hence commanding better salaries for professionals.
Expertise and Certifications: Certifications in risk management frameworks and methodologies like CRMP and CISA add a lot of value to Singh in the job market. These certifications prove his expertise and, therefore, contribute to expanding his salary scale.
This has automatically made Ottawa one of the most competitive job markets for IT professionals in the country. Because of this highly growing technology sector in Ottawa, the salaries of IT Risk Managers have shot through the roof. Skills that were once moderately valued now command much higher prices.
Experience and Achievements: With the vast experience and achievements that Singh has, he has become indispensable in his organization because of his expertise in how to manage IT risk. His rate of successfully getting through with an effective approach in managing the IT risk calls for a reason enough to be paid more in salary.
Broader Implications
The increase in Singh’s salary corresponds to the general tendencies of employment in IT risk management, where there is an acute shortage of skilled specialists in the market. Employers give more profound importance to the work of IT risk management in order to protect their information systems from unexpected failures.
Career Opportunities
Stories of people like Singh will, therefore, encourage others to become IT Risk Managers. Qualified professionals are highly sought after in the field because most organizations have started to focus on risk management, this indeed offers great rewarding opportunities including salaries, and career prospects.
In other words, the importance of IT risk management is substantially growing. The question by Vikram Singh’s $50,000 raise states why the skill set, background, and expertise are getting so valuable at the Job Market for the position of the IT Risk Manager in Ottawa. Since the IT environments get more dynamic, the need for it will always be instrumental in safeguarding any organization’s infrastructure and data from exposures.
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