Chief compliance officer vs chief risk officer

The differences between chief compliance officers and chief risk officers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a chief risk officer has an average salary of $117,089, which is higher than the $102,166 average annual salary of a chief compliance officer.

The top three skills for a chief compliance officer include oversight, compliance issues and risk management. The most important skills for a chief risk officer are oversight, risk assessments, and operational risk.

Chief compliance officer vs chief risk officer overview

	Chief Compliance Officer	Chief Risk Officer
Yearly salary	$102,166	$117,089
Hourly rate	$49.12	$56.29
Growth rate	-	17%
Number of jobs	76,701	76,203
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 60%	Bachelor's Degree, 69%
Average age	46	46
Years of experience	-	8

What does a chief compliance officer do?

A CCO or Chief Compliance Officer's primary responsibility is to ensure all procedures or activities are compliant with the company's overall policy and adhering to legal protocols with state and federal laws. Thus, the CCO drafts, proposes and develops compliance programs for the company to implement. Through the chief compliance officer's work, the company can lessen its liabilities and issues that may cause disruptions in production. The CCO is also part of the team that ensures quality in all company processes and activities.

What does a chief risk officer do?

A chief risk officer is responsible for monitoring the organization's overall operational procedures and regulatory processes to evaluate risk levels and minimize risk exposure. Chief risk officers maintain the safety and security of all the databases and ensure the confidentiality of information from unauthorized access and distribution. They also oversee the business and financial transactions regularly to identify improvement solutions that would generate revenues and resources. A chief risk officer reviews incident reports and handles recovery methods, especially for business continuity plans during national emergencies and unfortunate situations.

Chief compliance officer vs chief risk officer salary

Chief compliance officers and chief risk officers have different pay scales, as shown below.

	Chief Compliance Officer	Chief Risk Officer
Average salary	$102,166	$117,089
Salary range	Between $65,000 And $159,000	Between $72,000 And $188,000
Highest paying City	Washington, DC	San Francisco, CA
Highest paying state	Delaware	New Hampshire
Best paying company	McKinsey & Company Inc	McKinsey & Company Inc
Best paying industry	Finance	Finance

Differences between chief compliance officer and chief risk officer education

There are a few differences between a chief compliance officer and a chief risk officer in terms of educational background:

	Chief Compliance Officer	Chief Risk Officer
Most common degree	Bachelor's Degree, 60%	Bachelor's Degree, 69%
Most common major	Law	Finance
Most common college	Harvard University	University of Pennsylvania

Chief compliance officer vs chief risk officer demographics

Here are the differences between chief compliance officers' and chief risk officers' demographics:

	Chief Compliance Officer	Chief Risk Officer
Average age	46	46
Gender ratio	Male, 64.7% Female, 35.3%	Male, 71.3% Female, 28.7%
Race ratio	Black or African American, 11.1% Unknown, 4.5% Hispanic or Latino, 15.7% Asian, 8.2% White, 59.7% American Indian and Alaska Native, 0.8%	Black or African American, 7.9% Unknown, 4.1% Hispanic or Latino, 13.8% Asian, 10.5% White, 63.4% American Indian and Alaska Native, 0.3%
LGBT Percentage	12%	11%

Differences between chief compliance officer and chief risk officer duties and responsibilities

Chief compliance officer example responsibilities.

Achieve desired results of no material audits or investigations thereafter by CMS or OIG.
Respond to all regulatory inquiries and manage FINRA routine and trading examinations.
Manage successful litigation, arbitration and mediation proceedings, including commercial disputes, product liability, employment and intellectual property.
Work closely with industry-leading securities attorneys in matters of pending litigation, consumer complaints, and regulatory investigations.
Develop, maintain and enforce policies and procedures relate to anti-money laundering, ethics training, and business continuity.
Draft complete sets of HIPAA privacy and security policies and regularly advise clients on state and federal privacy issues.

Chief risk officer example responsibilities.

Manage investigation and reporting of occurrences to applicable regulatory agencies when indicate and facilitate disclosure to patients and families.
Develop the tools and process for aggregation of product level results to the entity level for all ERM risk modeling projects.
Analyze and develop treasury management reports.
Provide oversight for regulatory and compliance directives.
Provide oversight of product approval and development processes.
Specialize in SAS data mining software and analytic intelligence platform.

Chief compliance officer vs chief risk officer skills

Common chief compliance officer skills

Oversight, 8%
Compliance Issues, 6%
Risk Management, 6%
Ethics, 6%
Regulatory Compliance, 5%
Risk Assessments, 5%

Common chief risk officer skills

Oversight, 9%
Risk Assessments, 6%
Operational Risk, 6%
Human Resources, 5%
Audit Findings, 5%
Risk Management Framework, 4%

Chief Compliance Officer vs. similar jobs

Chief Compliance Officer related careers

Chief Compliance Officer related jobs

What similar roles do

Zippia Careers
Business and Financial Industry
Chief Compliance Officer
Chief Compliance Officer vs Chief Risk Officer

Updated January 8, 2025

Browse business and financial jobs