Collections director vs risk manager

The differences between collections directors and risk 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 collections director and a risk manager. Additionally, a risk manager has an average salary of $116,072, which is higher than the $73,243 average annual salary of a collections director.

The top three skills for a collections director include oversight, process improvement and collection process. The most important skills for a risk manager are oversight, risk assessments, and project management.

Collections director vs risk manager overview

	Collections Director	Risk Manager
Yearly salary	$73,243	$116,072
Hourly rate	$35.21	$55.80
Growth rate	17%	17%
Number of jobs	8,957	75,795
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 63%	Bachelor's Degree, 66%
Average age	46	46
Years of experience	8	8

Collections director vs risk manager salary

Collections directors and risk managers have different pay scales, as shown below.

	Collections Director	Risk Manager
Average salary	$73,243	$116,072
Salary range	Between $43,000 And $122,000	Between $84,000 And $160,000
Highest paying City	New York, NY	San Francisco, CA
Highest paying state	New York	California
Best paying company	WKYU	Credit Karma
Best paying industry	Technology	Technology

Differences between collections director and risk manager education

There are a few differences between a collections director and a risk manager in terms of educational background:

	Collections Director	Risk Manager
Most common degree	Bachelor's Degree, 63%	Bachelor's Degree, 66%
Most common major	Business	Business
Most common college	Stanford University	University of Pennsylvania

Collections director vs risk manager demographics

Here are the differences between collections directors' and risk managers' demographics:

	Collections Director	Risk Manager
Average age	46	46
Gender ratio	Male, 55.1% Female, 44.9%	Male, 59.3% Female, 40.7%
Race ratio	Black or African American, 7.8% Unknown, 4.1% Hispanic or Latino, 15.1% Asian, 7.3% White, 65.3% 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, 63.5% American Indian and Alaska Native, 0.3%
LGBT Percentage	11%	11%

Differences between collections director and risk manager duties and responsibilities

Collections director example responsibilities.

Achieve goal a year ahead of schedule, reducing DSO's from a steady 59 days to 43 days.
Manage team through budget/business plans with oversight responsibility to department objectives.
Credit and collection duties to maintain appropriate DSO levels.
Perform collections activities on delinquent loan accounts to include repossessions, foreclosures, bankruptcy proceedings, and disposition of repossess assets.
Supervise the project to move the majority of vendors and customers to ACH transactions.
Initial collections experience; develop communication and negotiation skills while quickly progressing through various departments specializing in different financial areas.

Risk manager example responsibilities.

Lead team in addressing Sarbanes-Oxley, HIPAA, and SAS70 compliance and control mandates.
Develop procedures and policies to manage site implementation of successful JD Edwards ERP system.
Direct staff, manage A/R and reconciliations, petty cash disbursements and tracking of all incoming claims and payments.
Manage the loan loss receivables SAS data mart, document change initiatives, implement SAS coding changes and process ongoing updates.
Manage accounting procedures and general ledger reconciliations.
Lead SOX project planning and implementation, successfully implement the corporate governance policies and internal control framework.

Collections director vs risk manager skills

Common collections director skills

Oversight, 13%
Process Improvement, 8%
Collection Process, 7%
Customer Service, 6%
Financial Statements, 5%
Cash Flow, 5%

Common risk manager skills

Oversight, 10%
Risk Assessments, 6%
Project Management, 6%
Portfolio, 5%
Strong Analytical, 4%
Operational Risk, 4%