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The differences between operational risk analysts and fraud analysts can be seen in a few details. Each job has different responsibilities and duties. Additionally, an operational risk analyst has an average salary of $82,457, which is higher than the $53,187 average annual salary of a fraud analyst.
The top three skills for an operational risk analyst include risk management, operational risk and risk assessments. The most important skills for a fraud analyst are customer service, fraud prevention, and SQL.
| Operational Risk Analyst | Fraud Analyst | |
| Yearly salary | $82,457 | $53,187 |
| Hourly rate | $39.64 | $25.57 |
| Growth rate | 23% | 6% |
| Number of jobs | 24,212 | 10,891 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 52% |
| Average age | 45 | 43 |
| Years of experience | - | 4 |
An operational risk analyst is responsible for evaluating the company's operational processes and policies and identify procedures that pose risks for the business. Operational risk analysts strategize techniques to minimize financial loss and prevent operational hazards that may cause delays in operation and affect the quality of deliverables. They analyze incident reports and other underlying factors to improve services and develop opportunities that would bring more revenue resources and profits for the business. An operational risk analyst may also facilitate safety training and programs for employees to reiterate guidelines and regulations for compliance.
Fraud analysts are responsible for monitoring bank accounts, accounting paperwork, and financial transactions. They analyze the data to identify any fraudulent and suspicious activities within an organization. Their duties and responsibilities may vary depending on which industries they work in. These may include keeping the confidentiality of any collected information, resolving customers' problems, and maintaining fraud analysis models to enhance the effectiveness and efficiency of company systems. Fraud analysts are also expected to provide recommendations for anti-fraud processes and new software tools to improve fraud detection and prevention.
Operational risk analysts and fraud analysts have different pay scales, as shown below.
| Operational Risk Analyst | Fraud Analyst | |
| Average salary | $82,457 | $53,187 |
| Salary range | Between $60,000 And $112,000 | Between $30,000 And $92,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Maryland | Rhode Island |
| Best paying company | PayPal | Aspiration |
| Best paying industry | Automotive | Finance |
There are a few differences between an operational risk analyst and a fraud analyst in terms of educational background:
| Operational Risk Analyst | Fraud Analyst | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 52% |
| Most common major | Business | Business |
| Most common college | University of Southern California | California State University - Bakersfield |
Here are the differences between operational risk analysts' and fraud analysts' demographics:
| Operational Risk Analyst | Fraud Analyst | |
| Average age | 45 | 43 |
| Gender ratio | Male, 45.5% Female, 54.5% | Male, 41.0% Female, 59.0% |
| Race ratio | Black or African American, 12.4% Unknown, 6.0% Hispanic or Latino, 14.3% Asian, 10.4% White, 56.3% American Indian and Alaska Native, 0.6% | 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 | 9% | 4% |