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The differences between risk managers and cash 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 cash manager. Additionally, a risk manager has an average salary of $116,072, which is higher than the $93,363 average annual salary of a cash manager.
The top three skills for a risk manager include oversight, risk assessments and project management. The most important skills for a cash manager are customer service, cash management, and treasury.
| Risk Manager | Cash Manager | |
| Yearly salary | $116,072 | $93,363 |
| Hourly rate | $55.80 | $44.89 |
| Growth rate | 17% | 17% |
| Number of jobs | 75,795 | 60,517 |
| 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 cash manager is responsible for monitoring cash flow, analyzing financial transactions, and allocating adequate budget and resources for every department's operations. Cash managers conduct data and statistical analysis to determine the company's expenses and financial loss and strategize techniques in minimizing those risks. They also help senior management in identifying business opportunities that would generate more revenue resources and increase profits for the business. A cash manager handles billing disputes, resolves account discrepancies, and submits accurate financial reports.
Risk managers and cash managers have different pay scales, as shown below.
| Risk Manager | Cash Manager | |
| Average salary | $116,072 | $93,363 |
| Salary range | Between $84,000 And $160,000 | Between $66,000 And $130,000 |
| Highest paying City | San Francisco, CA | Redding, CA |
| Highest paying state | California | California |
| Best paying company | Credit Karma | PVH |
| Best paying industry | Technology | Manufacturing |
There are a few differences between a risk manager and a cash manager in terms of educational background:
| Risk Manager | Cash 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 cash managers' demographics:
| Risk Manager | Cash Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 59.3% Female, 40.7% | Male, 38.2% Female, 61.8% |
| 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, 8.0% Unknown, 4.1% Hispanic or Latino, 15.5% Asian, 8.0% White, 64.1% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |