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Finance analyst vs risk analyst

The differences between 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 finance analyst and a risk analyst. Additionally, a risk analyst has an average salary of $81,484, which is higher than the $69,887 average annual salary of a finance analyst.

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

Finance analyst vs risk analyst overview

Finance AnalystRisk Analyst
Yearly salary$69,887$81,484
Hourly rate$33.60$39.17
Growth rate9%9%
Number of jobs138,60071,284
Job satisfaction--
Most common degreeBachelor's Degree, 76%Bachelor's Degree, 71%
Average age4040
Years of experience44

What does a finance analyst do?

A finance analyst is responsible for evaluating a company's financial data and historical reports to assess investment opportunities and provide accurate financial statements in support of business strategies and company performance prediction. A financial analyst's duties also include suggesting recommendations to boost operations efficiency and grow revenues, researching the current market performance and economic trends to adjust budget goals as needed, and managing client portfolios. Finance analysts must have excellent critical and analytical thinking skills to identify the best actions for the company's profitability.

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.

Finance analyst vs risk analyst salary

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

Finance AnalystRisk Analyst
Average salary$69,887$81,484
Salary rangeBetween $46,000 And $104,000Between $59,000 And $112,000
Highest paying CitySan Francisco, CASan Francisco, CA
Highest paying stateConnecticutConnecticut
Best paying companyThe CitadelThe Citadel
Best paying industryFinanceManufacturing

Differences between finance analyst and risk analyst education

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

Finance AnalystRisk Analyst
Most common degreeBachelor's Degree, 76%Bachelor's Degree, 71%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Finance analyst vs risk analyst demographics

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

Finance AnalystRisk Analyst
Average age4040
Gender ratioMale, 56.2% Female, 43.8%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 finance analyst and risk analyst duties and responsibilities

Finance analyst example responsibilities.

  • Manage company asset accounts, wire funds to clients and record and structure amounts into QuickBooks.
  • Manage the UAT team involve in the testing of an enterprise accounting and project management software.
  • Manage customer portfolio to department KPI's, target balance, aging metrics, cash recovery and write-off tolerance.
  • Manage contract database and SalesForce for historical research and financial reporting purposes.
  • Manage and maintain information in worldwide-military database which include exemptions, transfers, retirements, and payroll records.
  • Accomplish project accounting functions including project costing, time reporting, project accruals and proper capitalization of development costs.
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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.
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Finance analyst vs risk analyst skills

Common finance analyst skills
  • Financial Analysis, 9%
  • Financial Models, 5%
  • Financial Data, 5%
  • Strong Analytical, 4%
  • Variance Analysis, 4%
  • Hyperion, 3%
Common risk analyst skills
  • Risk Management, 19%
  • Risk Assessments, 6%
  • PowerPoint, 6%
  • Portfolio, 5%
  • Data Analysis, 4%
  • SAS, 3%

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