Chief risk officer vs finance administrator

The differences between chief risk officers and finance administrators can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both a chief risk officer and a finance administrator. Additionally, a chief risk officer has an average salary of $117,089, which is higher than the $55,541 average annual salary of a finance administrator.

The top three skills for a chief risk officer include oversight, risk assessments and operational risk. The most important skills for a finance administrator are customer service, financial aid, and powerpoint.

Chief risk officer vs finance administrator overview

	Chief Risk Officer	Finance Administrator
Yearly salary	$117,089	$55,541
Hourly rate	$56.29	$26.70
Growth rate	17%	17%
Number of jobs	76,203	130,256
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 69%	Bachelor's Degree, 61%
Average age	46	46
Years of experience	8	8

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.

What does a finance administrator do?

A finance administrator is responsible for supporting the financial operations of an organization, handling the accuracy of financial transactions, and resolving discrepancies in the company's financial statements. Finance administrators analyze the company's financial performance, including its losses and revenues, writing financial reports, and providing recommendations for cost-reduction processes to minimize financial risks. They also handle the allocation of departmental budgets, assist in tax audits, and process invoices and payroll release. A finance administrator must have excellent analytical skills and an extensive knowledge of the financial industry.

Chief risk officer vs finance administrator salary

Chief risk officers and finance administrators have different pay scales, as shown below.

	Chief Risk Officer	Finance Administrator
Average salary	$117,089	$55,541
Salary range	Between $72,000 And $188,000	Between $38,000 And $80,000
Highest paying City	San Francisco, CA	Dover, DE
Highest paying state	New Hampshire	Delaware
Best paying company	McKinsey & Company Inc	State Street
Best paying industry	Finance	Manufacturing

Differences between chief risk officer and finance administrator education

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

	Chief Risk Officer	Finance Administrator
Most common degree	Bachelor's Degree, 69%	Bachelor's Degree, 61%
Most common major	Finance	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Chief risk officer vs finance administrator demographics

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

	Chief Risk Officer	Finance Administrator
Average age	46	46
Gender ratio	Male, 71.3% Female, 28.7%	Male, 29.3% Female, 70.7%
Race ratio	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%	Black or African American, 7.7% Unknown, 4.1% Hispanic or Latino, 14.8% Asian, 9.2% White, 63.9% American Indian and Alaska Native, 0.3%
LGBT Percentage	11%	11%

Differences between chief risk officer and finance administrator duties and responsibilities

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.

Finance administrator example responsibilities.

Manage the design and implementation of appropriate controls as per Sarbanes-Oxley (SOX) and internal corporate procedures.
Manage key logistics and secure necessary resources within budget constraints.
Monitor all transactions in assign inventory finance portfolio to manage invoice funding approval decision.
Do A/P, A/R and G/L.
Prepare daily, weekly and monthly reports including fund loans, commissions, titles, A/P & A/R.
Assist families with Medicaid applications.

Chief risk officer vs finance administrator skills

Common chief risk officer skills

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

Common finance administrator skills

Customer Service, 17%
Financial Aid, 12%
PowerPoint, 7%
Rehabilitation, 7%
Balance Sheet, 4%
Human Resources, 4%

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Chief Risk Officer
Chief Risk Officer vs Finance Administrator

Updated January 8, 2025

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