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The phrase "a second risk is" is correct and usable in written English.
It can be used when introducing an additional risk or concern in a discussion or analysis.
Example: "While the first risk involves financial loss, a second risk is the potential damage to the company's reputation."
Alternatives: "another risk is" or "a further risk is".
Exact(6)
A second risk is party disunity.
A second risk is stroke.
A second risk is that these new buyers will walk away if property values continue to drop.
A second risk is over-interpretation, i.e., to extend the analogy between humans and computers beyond the fact that they use similar basic operations to solve the TOL, i.e., examine configurations and moves, build a sequence of moves.
A second risk is to the person administering the vaccine.
A second risk is to the health workers administering the vaccine.
Similar(54)
Yet a third risk is that their attempts to do this look like the politics of opportunism, not of conviction.
A fourth risk is to meet people who are unlike you, who come from different backgrounds, who are richer or poorer, who have different philosophies of life, who think differently.
Meanwhile, at the political centre, François Bayrou, of the Union for French Democracy, could pick up 8-9%.The second risk is a last-minute challenge from the Chirac camp.
An oil price of $200 is yet another reason for America to steer Israel away from an attack (see Lexington).A second risk is that economic policymakers overreact even to the relatively modest price rises so far.
The benefits of a multilateral trade deal are vastly superior to those of a patchwork of bilateral and regional agreements.A second risk is of more trade disputes.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com