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Risk manager vs risk analyst

The differences between risk managers and risk analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-8 years to become a risk manager, becoming a risk analyst takes usually requires 2-4 years. Additionally, a risk manager has an average salary of $116,072, which is higher than the $81,484 average annual salary of a risk analyst.

The top three skills for a risk manager include oversight, risk assessments and project management. The most important skills for a risk analyst are risk management, risk assessments, and powerpoint.

Risk manager vs risk analyst overview

Risk ManagerRisk Analyst
Yearly salary$116,072$81,484
Hourly rate$55.80$39.17
Growth rate17%9%
Number of jobs75,79571,284
Job satisfaction--
Most common degreeBachelor's Degree, 66%Bachelor's Degree, 71%
Average age4640
Years of experience84

What does a risk manager do?

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.

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.

Risk manager vs risk analyst salary

Risk managers and risk analysts have different pay scales, as shown below.

Risk ManagerRisk Analyst
Average salary$116,072$81,484
Salary rangeBetween $84,000 And $160,000Between $59,000 And $112,000
Highest paying CitySan Francisco, CASan Francisco, CA
Highest paying stateCaliforniaConnecticut
Best paying companyCredit KarmaThe Citadel
Best paying industryTechnologyManufacturing

Differences between risk manager and risk analyst education

There are a few differences between a risk manager and a risk analyst in terms of educational background:

Risk ManagerRisk Analyst
Most common degreeBachelor's Degree, 66%Bachelor's Degree, 71%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Risk manager vs risk analyst demographics

Here are the differences between risk managers' and risk analysts' demographics:

Risk ManagerRisk Analyst
Average age4640
Gender ratioMale, 59.3% Female, 40.7%Male, 53.4% Female, 46.6%
Race ratioBlack 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, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1%
LGBT Percentage11%7%

Differences between risk manager and risk analyst duties and responsibilities

Risk manager example responsibilities.

  • Lead team in addressing Sarbanes-Oxley, HIPAA, and SAS70 compliance and control mandates.
  • Develop procedures and policies to manage site implementation of successful JD Edwards ERP system.
  • Direct staff, manage A/R and reconciliations, petty cash disbursements and tracking of all incoming claims and payments.
  • Manage the loan loss receivables SAS data mart, document change initiatives, implement SAS coding changes and process ongoing updates.
  • Manage accounting procedures and general ledger reconciliations.
  • Lead SOX project planning and implementation, successfully implement the corporate governance policies and internal control framework.
  • Show more

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

Risk manager vs risk analyst skills

Common risk manager skills
  • Oversight, 10%
  • Risk Assessments, 6%
  • Project Management, 6%
  • Portfolio, 5%
  • Strong Analytical, 4%
  • Operational Risk, 4%
Common risk analyst skills
  • Risk Management, 19%
  • Risk Assessments, 6%
  • PowerPoint, 6%
  • Portfolio, 5%
  • Data Analysis, 4%
  • SAS, 3%

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