What does a risk management director do?
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.
Risk management director responsibilities
Here are examples of responsibilities from real risk management director resumes:
- Manage budget process and ensure a positive ROI.
- Manage all Sarbanes-Oxley, financial, internal and ad-hoc audit activities.
- Manage Fujitsu-Siemens relationship for the Americas.
- Enhance CRM analytics for managing consumer interactions during multi-channel service transactions.
- Manage an establish insurance program, including super vision and oversight of safety management programs.
- Manage customer expectations and assist customers and partners in understanding the required project steps and deliverables for a successful CRM implementation.
- Design and implement basic SQL queries for QA testing and report / data validation.
- Mediate customer complaints and grievances involving hospital division directors and the patients, physicians and families.
- Provide assistance to other leaders to maintain compliance with TDHS, CMS, and TJC surveys.
- Determine AML training needs for large financial institution and assist in designing a training program for the institution.
- Decrease medically relate deaths by partnering with nursing to develop staff training on common medical conditions seen in patients.
- Ensure facility programs are in compliance with all regulatory agencies, JCAHO, CMS, TCADA and state and federal agencies.
- Create employee training tools/decks and train staff regarding compliance policies, AML and KYC procedures, resulting in improve process flow.
- Develop and implement professional mentoring program across ERM internationally.
- Integrate ERM with strategic planning to proactively identify strategic risks.
Risk management director skills and personality traits
We calculated that 11% of Risk Management Directors are proficient in Oversight, Risk Assessments, and Governance. They’re also known for soft skills such as Creativity, Math skills, and Organizational skills.
We break down the percentage of Risk Management Directors that have these skills listed on their resume here:
- Oversight, 11%
Managed an established insurance program, including super vision and oversight of safety management programs.
- Risk Assessments, 8%
Implemented & monitored risk mapping for operational risk assessments to facilitate executive management decision making & parent enterprise risk reporting function.
- Governance, 8%
Defined corporate standards for high-risk operational controls and wholesale definition of compliance supporting ERM risk tolerance definition and governance.
- Risk Management, 7%
Established a top-flight corporate risk management department, which improved decision-making and loss control and reduced overall cost-of-risk during rapid growth.
- Project Management, 5%
Applied dynamic strategic planning and project management skills toward consistently achieving hospital objectives.
- Patient Safety, 4%
Collaborate with Performance Improvement Department and VP of Quality in developing Corporate Patient Safety Program.
"oversight," "risk assessments," and "governance" are among the most common skills that risk management directors use at work. You can find even more risk management director responsibilities below, including:
Math skills. Another essential skill to perform risk management director duties is math skills. Risk management directors responsibilities require that "financial managers need strong skills in certain branches of mathematics, including algebra." Risk management directors also use math skills in their role according to a real resume snippet: "chaired risk committee focused on presentation of quantitative and operational risk metrics. "
Organizational skills. risk management directors are also known for organizational skills, which are critical to their duties. You can see how this skill relates to risk management director responsibilities, because "because financial managers deal with a range of information and documents, they must have structures in place to be effective in their work." A risk management director resume example shows how organizational skills is used in the workplace: "performed risk assessments and inspected patient care areas in accordance with organizational safety program objectives. "
Detail oriented. A big part of what risk management directors do relies on "detail oriented." You can see how essential it is to risk management director responsibilities because "in preparing and analyzing reports, such as balance sheets and income statements, financial managers must be precise and attentive to their work in order to avoid errors." Here's an example of how this skill is used from a resume that represents typical risk management director tasks: "authored company procedures manual that detailed all loss prevention and safety practices. "
The three companies that hire the most risk management directors are:
- KPMG LLP663 risk management directors jobs
- Capital One198 risk management directors jobs
- CBRE Group189 risk management directors jobs
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Compare different risk management directors
Risk management director vs. Market risk specialist
An at-risk specialist is responsible for identifying risk events that may pose harm to the business reputation and financial stability of an organization. At-risk specialists strategize on plans and techniques to minimize financial loss and excessive costings, developing methods and opportunities that would increase the company's revenues and profits. They resolve insurance discrepancies and manage financial disputes that may have litigation impact on the business. An at-risk specialist reviews financial documents and incident reports, file claims, and process requirements for any fraudulent activities.
While similarities exist, there are also some differences between risk management directors and market risk specialist. For instance, risk management director responsibilities require skills such as "oversight," "risk assessments," "governance," and "project management." Whereas a market risk specialist is skilled in "counterparty," "cva," "ccr," and "asset liability." This is part of what separates the two careers.
Market risk specialists tend to reach higher levels of education than risk management directors. In fact, market risk specialists are 40.8% more likely to graduate with a Master's Degree and 5.0% less likely to have a Doctoral Degree.Risk management director vs. At-risk specialist
Directors work in show business, whether in a film, a television show, or a theatre production. They are responsible for bringing the material to life. They work with the writers to get a clear vision of how the production should look. They lead the production team in planning for the production, identifying filming or rehearsing schedules, casting for roles, and other aspects that need to be decided upon. Directors provide direction to the actors to ensure that the actors understand their role and will be able to effectively convey emotions to the audience. They also manage all other crew members and communicate their expectations clearly so that everyone on the set is working towards one vision.
Each career also uses different skills, according to real risk management director resumes. While risk management director responsibilities can utilize skills like "oversight," "governance," "project management," and "patient safety," at-risk specialists use skills like "sas," "process improvement," "powerpoint," and "data analysis."
At-risk specialists earn a lower average salary than risk management directors. But at-risk specialists earn the highest pay in the finance industry, with an average salary of $85,032. Additionally, risk management directors earn the highest salaries in the hospitality with average pay of $138,014 annually.at-risk specialists earn lower levels of education than risk management directors in general. They're 6.5% less likely to graduate with a Master's Degree and 5.0% less likely to earn a Doctoral Degree.Risk management director vs. Director
A risk manager is responsible for analyzing potential risks that may affect the organization's operations, reputation, and market credibility. Risk managers identify risk controls and discuss business contingency plans for unforeseen circumstances to prevent delays in operational services. They also develop compliance training and programs for all the employees to provide them the awareness of the safety and security regulations within the company premises. A risk manager must have excellent communication and leadership skills, especially on handling and investigating cases that might compromise the business stability and financial status.
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from risk management director resumes include skills like "risk assessments," "governance," "patient safety," and "internal audit," whereas a director is more likely to list skills in "healthcare," "human resources," "business development," and "strategic plan. "
Directors earn the highest salary when working in the finance industry, where they receive an average salary of $155,819. Comparatively, risk management directors have the highest earning potential in the hospitality industry, with an average salary of $138,014.Most directors achieve a similar degree level compared to risk management directors. For example, they're 1.4% less likely to graduate with a Master's Degree, and 1.9% less likely to earn a Doctoral Degree.Risk management director vs. Risk manager
Types of risk management director
Updated January 8, 2025
