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The differences between chief risk officers and portfolio managers 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 portfolio manager. Additionally, a chief risk officer has an average salary of $117,089, which is higher than the $114,671 average annual salary of a portfolio manager.
The top three skills for a chief risk officer include oversight, risk assessments and operational risk. The most important skills for a portfolio manager are portfolio management, customer service, and risk management.
| Chief Risk Officer | Portfolio Manager | |
| Yearly salary | $117,089 | $114,671 |
| Hourly rate | $56.29 | $55.13 |
| Growth rate | 17% | 17% |
| Number of jobs | 76,203 | 43,192 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 71% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
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.
A portfolio manager is responsible for managing the clients' investment portfolios to advise them of the best investment plans to achieve their financial goals and objectives. Portfolio managers determine the most suitable options by evaluating the clients' credit score and risk potential and the client's financial background. A portfolio manager should be highly knowledgeable and updated with the recent financial industry changes to decide on investment plans with maximum returns.
Chief risk officers and portfolio managers have different pay scales, as shown below.
| Chief Risk Officer | Portfolio Manager | |
| Average salary | $117,089 | $114,671 |
| Salary range | Between $72,000 And $188,000 | Between $66,000 And $198,000 |
| Highest paying City | San Francisco, CA | Stamford, CT |
| Highest paying state | New Hampshire | Connecticut |
| Best paying company | McKinsey & Company Inc | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between a chief risk officer and a portfolio manager in terms of educational background:
| Chief Risk Officer | Portfolio Manager | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 71% |
| Most common major | Finance | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between chief risk officers' and portfolio managers' demographics:
| Chief Risk Officer | Portfolio Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 71.3% Female, 28.7% | Male, 66.6% Female, 33.4% |
| 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, 7.5% Unknown, 4.1% Hispanic or Latino, 14.4% Asian, 10.1% White, 63.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |