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The differences between risk managers and bank 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 risk manager and a bank manager. Additionally, a risk manager has an average salary of $116,072, which is higher than the $96,910 average annual salary of a bank manager.
The top three skills for a risk manager include oversight, risk assessments and project management. The most important skills for a bank manager are bank products, financial services, and business development.
| Risk Manager | Bank Manager | |
| Yearly salary | $116,072 | $96,910 |
| Hourly rate | $55.80 | $46.59 |
| Growth rate | 17% | 17% |
| Number of jobs | 75,795 | 66,136 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 64% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
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.
A bank manager is responsible for supervising banking operations and monitoring staff performance in providing the best customer service for clients with their banking needs and financial transactions. Bank managers assist the staff with the complexities of processes, train new hires, and strategize the development of services that would contribute to the bank's success. They also conduct fund audits and create accounts receivable reports at the end of the day. A bank manager responds to clients' inquiries and concerns, resolve complaints, and manage account disputes.
Risk managers and bank managers have different pay scales, as shown below.
| Risk Manager | Bank Manager | |
| Average salary | $116,072 | $96,910 |
| Salary range | Between $84,000 And $160,000 | Between $65,000 And $142,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | Credit Karma | Accenture |
| Best paying industry | Technology | Finance |
There are a few differences between a risk manager and a bank manager in terms of educational background:
| Risk Manager | Bank Manager | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 64% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between risk managers' and bank managers' demographics:
| Risk Manager | Bank Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 59.3% Female, 40.7% | Male, 48.9% Female, 51.1% |
| Race ratio | 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% | Black or African American, 7.5% Unknown, 4.1% Hispanic or Latino, 14.3% Asian, 10.0% White, 63.7% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |