Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between chief risk officers and senior officers 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 senior officer. Additionally, a chief risk officer has an average salary of $117,089, which is higher than the $72,721 average annual salary of a senior officer.
The top three skills for a chief risk officer include oversight, risk assessments and operational risk. The most important skills for a senior officer are real estate, professional development, and SR.
| Chief Risk Officer | Senior Officer | |
| Yearly salary | $117,089 | $72,721 |
| Hourly rate | $56.29 | $34.96 |
| Growth rate | 17% | 17% |
| Number of jobs | 76,203 | 84,196 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 57% |
| 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.
The duties of a senior officer depend on their line of work or industry of employment. Typically, as a senior officer, it is their duty to supervise and coordinate staff, set goals and guidelines, manage budgets and schedules, gather and analyze data, and produce progress reports, presenting them to managers or executives. They may also address issues and concerns, resolving them promptly and efficiently. Furthermore, a senior officer must lead and encourage staff to reach goals while implementing the organization's policies and regulations.
Chief risk officers and senior officers have different pay scales, as shown below.
| Chief Risk Officer | Senior Officer | |
| Average salary | $117,089 | $72,721 |
| Salary range | Between $72,000 And $188,000 | Between $39,000 And $134,000 |
| Highest paying City | San Francisco, CA | New York, NY |
| Highest paying state | New Hampshire | New York |
| Best paying company | McKinsey & Company Inc | U.S. Securities and Exchange Commission |
| Best paying industry | Finance | Finance |
There are a few differences between a chief risk officer and a senior officer in terms of educational background:
| Chief Risk Officer | Senior Officer | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 57% |
| Most common major | Finance | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between chief risk officers' and senior officers' demographics:
| Chief Risk Officer | Senior Officer | |
| Average age | 46 | 46 |
| Gender ratio | Male, 71.3% Female, 28.7% | Male, 67.6% Female, 32.4% |
| 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, 7.4% Unknown, 4.1% Hispanic or Latino, 14.2% Asian, 10.0% White, 63.9% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |