What is a primary role of a risk manager?

A primary role of a risk manager involves identifying, assessing, and mitigating potential risks that could lead to claims. This responsibility is crucial in preventing losses for an organization—be it financial, operational, or reputational. By focusing on risk reduction, a risk manager implements strategies and procedures that lower the likelihood of events that could trigger insurance claims, such as accidents, fraud, or compliance failures.

This proactive approach not only helps in decreasing the frequency of claims but also contributes to the overall efficiency and stability of the organization. Monitoring various types of risks, from market fluctuations to environmental hazards, enables risk managers to make informed decisions that support the business's goals and protect its assets.

The other options pertain to specialized roles outside the core responsibilities of risk management. Overseeing financial investments relates more to investment managers, and developing marketing strategies is aligned with marketing professionals. Managing customer service teams involves direct interaction and support functions rather than the strategic risk assessment and mitigation focus of a risk manager.