Money manager vs risk manager

The differences between money managers 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 money manager and a risk manager. Additionally, a risk manager has an average salary of $116,072, which is higher than the $73,231 average annual salary of a money manager.

The top three skills for a money manager include BSA, anti-money laundering and bank secrecy act. The most important skills for a risk manager are oversight, risk assessments, and project management.

Money manager vs risk manager overview

	Money Manager	Risk Manager
Yearly salary	$73,231	$116,072
Hourly rate	$35.21	$55.80
Growth rate	17%	17%
Number of jobs	58,982	75,795
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 59%	Bachelor's Degree, 66%
Average age	46	46
Years of experience	8	8

Money manager vs risk manager salary

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

	Money Manager	Risk Manager
Average salary	$73,231	$116,072
Salary range	Between $47,000 And $112,000	Between $84,000 And $160,000
Highest paying City	-	San Francisco, CA
Highest paying state	-	California
Best paying company	-	Credit Karma
Best paying industry	-	Technology

Differences between money manager and risk manager education

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

	Money Manager	Risk Manager
Most common degree	Bachelor's Degree, 59%	Bachelor's Degree, 66%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Money manager vs risk manager demographics

Here are the differences between money managers' and risk managers' demographics:

	Money Manager	Risk Manager
Average age	46	46
Gender ratio	Male, 43.5% Female, 56.5%	Male, 59.3% Female, 40.7%
Race ratio	Black or African American, 7.4% Unknown, 4.1% Hispanic or Latino, 14.2% Asian, 10.0% White, 64.0% 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 money manager and risk manager duties and responsibilities

Money manager example responsibilities.

Decrease manual processing time by successfully managing the implementation of a new software system for the BSA unit.
Assist clients with addressing BSA, AML & OFAC requirements resulting from regulatory actions against the clients.
Process fundamental and technical analysis for strategic trading of equities.
Assist in implementing effective procedures for the ACH department.
Perform daily vault balancing, ATM servicing and transaction approvals.
Review portfolio positioning and investment results with clients, consultants, and prospects.

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.

Money manager vs risk manager skills

Common money manager skills

BSA, 18%
Anti-Money Laundering, 15%
Bank Secrecy Act, 11%
OFAC, 9%
Transaction Monitoring, 8%
Risk Management, 7%

Common risk manager skills

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