There is more than meets the eye when it comes to being a chief risk officer. For example, did you know that they make an average of $60.07 an hour? That's $124,948 a year!
Between 2018 and 2028, the career is expected to grow 16% and produce 104,700 job opportunities across the U.S.
There are certain skills that many chief risk officers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed detail oriented, math skills and organizational skills.
When it comes to the most important skills required to be a chief risk officer, we found that a lot of resumes listed 17.7% of chief risk officers included procedures, while 7.3% of resumes included risk management, and 6.9% of resumes included oversight. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the chief risk officer job title. But what industry to start with? Most chief risk officers actually find jobs in the finance and insurance industries.
If you're interested in becoming a chief risk officer, one of the first things to consider is how much education you need. We've determined that 44.9% of chief risk officers have a bachelor's degree. In terms of higher education levels, we found that 33.1% of chief risk officers have master's degrees. Even though most chief risk officers have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a chief risk officer. When we researched the most common majors for a chief risk officer, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on chief risk officer resumes include doctoral degree degrees or associate degree degrees.
You may find that experience in other jobs will help you become a chief risk officer. In fact, many chief risk officer jobs require experience in a role such as vice president. Meanwhile, many chief risk officers also have previous career experience in roles such as senior vice president or risk manager.
Tell us your goals and we'll match you with the right jobs to get there.
In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of managing director you might progress to a role such as executive director eventually. Later on in your career, you could end up with the title executive director.
Tell us your goals and we'll match you with the rights job to get there.
Use Zippia's Salary Calculator to see how your pay matches up.
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The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 17.7% of chief risk officers listed procedures on their resume, but soft skills such as detail oriented and math skills are important as well.
Some places are better than others when it comes to starting a career as a chief risk officer. The best states for people in this position are Hawaii, New Jersey, New York, and California. Chief risk officers make the most in Hawaii with an average salary of $164,546. Whereas in New Jersey and New York, they would average $158,500 and $143,126, respectively. While chief risk officers would only make an average of $138,874 in California, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.
1. New York
$143,127
Avg. Salary
2. New Jersey
$158,500
Avg. Salary
3. Delaware
$124,712
Avg. Salary