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Contract finance analyst vs risk analyst

The differences between contract finance analysts and risk analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a contract finance analyst and a risk analyst. Additionally, a risk analyst has an average salary of $81,484, which is higher than the $64,424 average annual salary of a contract finance analyst.

The top three skills for a contract finance analyst include financial analysis, SQL and cost analysis. The most important skills for a risk analyst are risk management, risk assessments, and powerpoint.

Contract finance analyst vs risk analyst overview

Contract Finance AnalystRisk Analyst
Yearly salary$64,424$81,484
Hourly rate$30.97$39.17
Growth rate9%9%
Number of jobs103,19271,284
Job satisfaction--
Most common degreeBachelor's Degree, 73%Bachelor's Degree, 71%
Average age4040
Years of experience44

What does a contract finance analyst do?

A contract finance analyst specializes in evaluating and managing contracts to help companies avoid financial losses and disputes. It is their duty to understand the needs and goals of a company, review contracts thoroughly, analyze the clauses and liabilities, negotiate contract terms, and recommend amendments on behalf of the clients. There are also instances where they must prepare and process documentation, maintain records, and provide departments with cost-effective methods to comply with the contract's obligations. Above all, a contract finance analyst must monitor every amendment and procedure.

What does a risk analyst do?

As a risk analyst, you will oversee the identification, assessment, and monitoring of risks that your company has been exposed to. You will evaluate financial documents, potential clients, and economic conditions to determine the level of risk in business decisions. You will be responsible for aggregating data from several sources to develop a comprehensive assessment and create reports, processes, and presentations to better present results. You are also expected to work closely with other team members to analyze and show data effectively.

Contract finance analyst vs risk analyst salary

Contract finance analysts and risk analysts have different pay scales, as shown below.

Contract Finance AnalystRisk Analyst
Average salary$64,424$81,484
Salary rangeBetween $44,000 And $93,000Between $59,000 And $112,000
Highest paying CitySan Francisco, CASan Francisco, CA
Highest paying stateConnecticutConnecticut
Best paying companyGreat American InsuranceThe Citadel
Best paying industryFinanceManufacturing

Differences between contract finance analyst and risk analyst education

There are a few differences between a contract finance analyst and a risk analyst in terms of educational background:

Contract Finance AnalystRisk Analyst
Most common degreeBachelor's Degree, 73%Bachelor's Degree, 71%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Contract finance analyst vs risk analyst demographics

Here are the differences between contract finance analysts' and risk analysts' demographics:

Contract Finance AnalystRisk Analyst
Average age4040
Gender ratioMale, 52.5% Female, 47.5%Male, 53.4% Female, 46.6%
Race ratioBlack or African American, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1%Black or African American, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1%
LGBT Percentage7%7%

Differences between contract finance analyst and risk analyst duties and responsibilities

Contract finance analyst example responsibilities.

  • Manage cash activities and resolve old and current accounts through reconciliations and variance analysis.
  • Develop, maintain financial models/applications (VBA Excel/Access) to automate and streamline business processes and perform financial analysis.
  • Maintain audit readiness and compliance for internal/external corporate and project audits - PWC, KPMG, and Sarbanes-Oxley (SOX).
  • Subject matter expert on sun setting GL/Budget/Reporting system while concurrently participating in the design and implementation of custom forecasting ERP tool.
  • Schedule production of require products and arrange delivery to ACH facility or customer.

Risk analyst example responsibilities.

  • Create programs in Java to automate trade execution and ensure market clear downloads are facilitate by the same.
  • Manage financial derivative models to ensure accurate calculation, structure and pricing.
  • Manage investigation and reporting of occurrences to applicable regulatory agencies when indicate and facilitate disclosure to patients and families.
  • Manage litigation through appropriate selection of counsel, developing strategic action plans a while monitoring an active trial calendar.
  • Manage treasury workstation steering team for automation of core treasury operations for increase reliability of financial reporting and decision making.
  • Use SAS and SQL to originate and maintain analytic data marts and automate reporting.
  • Show more

Contract finance analyst vs risk analyst skills

Common contract finance analyst skills
  • Financial Analysis, 17%
  • SQL, 15%
  • Cost Analysis, 12%
  • Financial Data, 4%
  • Reconciliations, 3%
  • Journal Entries, 3%
Common risk analyst skills
  • Risk Management, 19%
  • Risk Assessments, 6%
  • PowerPoint, 6%
  • Portfolio, 5%
  • Data Analysis, 4%
  • SAS, 3%

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