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Risk analyst vs business & finance analyst

The differences between risk analysts and business & finance 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 risk analyst and a business & finance analyst. Additionally, a risk analyst has an average salary of $81,484, which is higher than the $70,514 average annual salary of a business & finance analyst.

The top three skills for a risk analyst include risk management, risk assessments and powerpoint. The most important skills for a business & finance analyst are financial analysis, business analysis, and shared services.

Risk analyst vs business & finance analyst overview

Risk AnalystBusiness & Finance Analyst
Yearly salary$81,484$70,514
Hourly rate$39.17$33.90
Growth rate9%9%
Number of jobs71,284168,111
Job satisfaction--
Most common degreeBachelor's Degree, 71%Bachelor's Degree, 71%
Average age4040
Years of experience44

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.

What does a business & finance analyst do?

A financial business analyst is also referred to as a business analyst who recommends and enforces corporate efficiency and profitability methods. Financial business analysts analyze the business model and finances of an organization. Their findings serve as the source of their suggestions to improve businesses' budgeting, management, and overall operations. They have the ability to predict the outcome of the decisions made by enterprises. The skills necessary for this job include interpersonal skills, management experience, financial reporting, and strong communication skills.

Risk analyst vs business & finance analyst salary

Risk analysts and business & finance analysts have different pay scales, as shown below.

Risk AnalystBusiness & Finance Analyst
Average salary$81,484$70,514
Salary rangeBetween $59,000 And $112,000Between $50,000 And $99,000
Highest paying CitySan Francisco, CASan Francisco, CA
Highest paying stateConnecticutWashington
Best paying companyThe CitadelGoogle
Best paying industryManufacturingFinance

Differences between risk analyst and business & finance analyst education

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

Risk AnalystBusiness & Finance Analyst
Most common degreeBachelor's Degree, 71%Bachelor's Degree, 71%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Risk analyst vs business & finance analyst demographics

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

Risk AnalystBusiness & Finance Analyst
Average age4040
Gender ratioMale, 53.4% Female, 46.6%Male, 55.6% Female, 44.4%
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 risk analyst and business & finance analyst duties and responsibilities

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

Business & finance analyst example responsibilities.

  • Manage and maintain DCAA approve accrual record keeping system while maintaining GAAP standards.
  • Lead company in Essbase implementation and developing a centralize and standardize reporting process.
  • Develop, maintain financial models/applications (VBA Excel/Access) to automate and streamline business processes and perform financial analysis.
  • Conduct data analysis using SQL.
  • Manipulate and run labor reports weekly using Hyperion for account financial measures and assumptions.
  • Analyze huge sets of data using SQL and excel for ensuring data quality and issues.
  • Show more

Risk analyst vs business & finance analyst skills

Common risk analyst skills
  • Risk Management, 19%
  • Risk Assessments, 6%
  • PowerPoint, 6%
  • Portfolio, 5%
  • Data Analysis, 4%
  • SAS, 3%
Common business & finance analyst skills
  • Financial Analysis, 13%
  • Business Analysis, 6%
  • Shared Services, 5%
  • Financial Data, 4%
  • Strong Analytical, 4%
  • Process Improvement, 4%

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