Chief risk officer vs risk management director

The differences between chief risk officers and risk management directors can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-8 years to become a chief risk officer, becoming a risk management director takes usually requires 4-6 years. Additionally, a risk management director has an average salary of $133,286, which is higher than the $117,089 average annual salary of a chief risk officer.

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

Chief risk officer vs risk management director overview

	Chief Risk Officer	Risk Management Director
Yearly salary	$117,089	$133,286
Hourly rate	$56.29	$64.08
Growth rate	17%	17%
Number of jobs	76,203	80,337
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 69%	Bachelor's Degree, 61%
Average age	46	43
Years of experience	8	6

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 risk management director do?

A risk management director is responsible for ensuring the safety and security of all the people, assets, and processes across the organization. Risk management directors facilitate risk management programs to mitigate company risks that may affect the organization's reputation and stability. They coordinate with upper management to identify a strategic approach and strengthen risk management policies. A risk management director must have excellent communication and organizational skills, especially in writing and investigating incident reports and resolving internal escalations immediately and efficiently.

Chief risk officer vs risk management director salary

Chief risk officers and risk management directors have different pay scales, as shown below.

	Chief Risk Officer	Risk Management Director
Average salary	$117,089	$133,286
Salary range	Between $72,000 And $188,000	Between $95,000 And $185,000
Highest paying City	San Francisco, CA	Washington, DC
Highest paying state	New Hampshire	Vermont
Best paying company	McKinsey & Company Inc	Conning
Best paying industry	Finance	Hospitality

Differences between chief risk officer and risk management director education

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

	Chief Risk Officer	Risk Management Director
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 risk management director demographics

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

	Chief Risk Officer	Risk Management Director
Average age	46	43
Gender ratio	Male, 71.3% Female, 28.7%	Male, 59.4% Female, 40.6%
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, 8.6% Unknown, 3.9% Hispanic or Latino, 9.6% Asian, 10.0% White, 67.6% American Indian and Alaska Native, 0.3%
LGBT Percentage	11%	4%

Differences between chief risk officer and risk management director 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.

Risk management director example responsibilities.

Manage budget process and ensure a positive ROI.
Manage all Sarbanes-Oxley, financial, internal and ad-hoc audit activities.
Manage Fujitsu-Siemens relationship for the Americas.
Enhance CRM analytics for managing consumer interactions during multi-channel service transactions.
Manage an establish insurance program, including super vision and oversight of safety management programs.
Manage customer expectations and assist customers and partners in understanding the required project steps and deliverables for a successful CRM implementation.

Chief risk officer vs risk management director 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 risk management director skills

Oversight, 11%
Risk Assessments, 8%
Governance, 8%
Risk Management, 7%
Project Management, 5%
Patient Safety, 4%

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Chief Risk Officer
Chief Risk Officer vs Risk Management Director

Updated January 8, 2025

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