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The differences between credit risk management directors 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 credit risk management director, becoming a risk management director takes usually requires 4-6 years. Additionally, a credit risk management director has an average salary of $147,122, which is higher than the $133,286 average annual salary of a risk management director.
The top three skills for a credit risk management director include SAS, derivative and alll. The most important skills for a risk management director are oversight, risk assessments, and governance.
| Credit Risk Management Director | Risk Management Director | |
| Yearly salary | $147,122 | $133,286 |
| Hourly rate | $70.73 | $64.08 |
| Growth rate | 17% | 17% |
| Number of jobs | 87,019 | 80,337 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 61% |
| Average age | 46 | 43 |
| Years of experience | 8 | 6 |
A credit risk management director spearheads and oversees the credit management activities of an organization, ensuring operations run smoothly and efficiently according to company standards and regulations. They have the authority to make significant decisions, coordinate managers and supervisors, delegate responsibilities, negotiate and build positive relationships with external parties, and implement programs that will optimize company operations. They also participate in recruiting and hiring staff, developing plans and strategies, and engaging with clients. Additionally, a credit risk management director empowers employees and implements company policies, creating new ones as necessary.
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.
Credit risk management directors and risk management directors have different pay scales, as shown below.
| Credit Risk Management Director | Risk Management Director | |
| Average salary | $147,122 | $133,286 |
| Salary range | Between $95,000 And $227,000 | Between $95,000 And $185,000 |
| Highest paying City | Albany, NY | Washington, DC |
| Highest paying state | New Hampshire | Vermont |
| Best paying company | LendingClub | Conning |
| Best paying industry | Finance | Hospitality |
There are a few differences between a credit risk management director and a risk management director in terms of educational background:
| Credit Risk Management Director | Risk Management Director | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit risk management directors' and risk management directors' demographics:
| Credit Risk Management Director | Risk Management Director | |
| Average age | 46 | 43 |
| Gender ratio | Male, 72.5% Female, 27.5% | Male, 59.4% Female, 40.6% |
| Race ratio | Black or African American, 7.4% Unknown, 4.1% Hispanic or Latino, 14.1% Asian, 10.0% White, 64.1% 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% |