Senior fraud analyst vs risk analyst

The differences between senior fraud analysts and risk analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a senior fraud analyst, becoming a risk analyst takes usually requires 2-4 years. Additionally, a senior fraud analyst has an average salary of $91,428, which is higher than the $81,484 average annual salary of a risk analyst.

The top three skills for a senior fraud analyst include SQL, fraud risk and fraud prevention. The most important skills for a risk analyst are risk management, risk assessments, and powerpoint.

Senior fraud analyst vs risk analyst overview

	Senior Fraud Analyst	Risk Analyst
Yearly salary	$91,428	$81,484
Hourly rate	$43.96	$39.17
Growth rate	3%	9%
Number of jobs	13,411	71,284
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 57%	Bachelor's Degree, 71%
Average age	39	40
Years of experience	2	4

What does a senior fraud analyst do?

A Senior Fraud Analyst performs extensive research and analyses to detect suspicious transactions and determine fraudulent activities in financial institutions or business establishments. Their responsibilities typically revolve around monitoring financial transactions and documents, gathering and analyzing various data, conducting account assessments, validating information, and thoroughly reviewing documents. There are also instances where they must set objectives, establish guidelines, produce progress reports, and resolve issues promptly and efficiently. Moreover, as a senior fraud analyst, it is essential to lead and serve as a role model for junior fraud analysts, overseeing their performance while implementing company policies and regulations.

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.

Senior fraud analyst vs risk analyst salary

Senior fraud analysts and risk analysts have different pay scales, as shown below.

	Senior Fraud Analyst	Risk Analyst
Average salary	$91,428	$81,484
Salary range	Between $69,000 And $120,000	Between $59,000 And $112,000
Highest paying City	San Francisco, CA	San Francisco, CA
Highest paying state	New York	Connecticut
Best paying company	SoFi	The Citadel
Best paying industry	Start-up	Manufacturing

Differences between senior fraud analyst and risk analyst education

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

	Senior Fraud Analyst	Risk Analyst
Most common degree	Bachelor's Degree, 57%	Bachelor's Degree, 71%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Senior fraud analyst vs risk analyst demographics

Here are the differences between senior fraud analysts' and risk analysts' demographics:

	Senior Fraud Analyst	Risk Analyst
Average age	39	40
Gender ratio	Male, 43.5% Female, 56.5%	Male, 53.4% Female, 46.6%
Race ratio	Black or African American, 8.2% Unknown, 2.7% Hispanic or Latino, 9.8% Asian, 10.0% White, 69.0% 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 Percentage	11%	7%

Differences between senior fraud analyst and risk analyst duties and responsibilities

Senior fraud analyst example responsibilities.

Manage reporting, investigating identity thefts, identifying account take over and AML, conducting compliance audits and account closures as needed
Assist domestic and international teams with SQL queries, bug resolutions and foreign language support.
Follow OFAC procedures and regulations on application that trigger a match on the SDN list.
Conduct internal and external evaluations with information and corporate security via SQL queries.
Organize and maintain investigative files and document control of files and exhibits for investigations and litigation.
Maintain the credit team SharePoint site with the updated project flowcharts, business requirement documents, fictional specification documents and presentations.

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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.

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Senior fraud analyst vs risk analyst skills

Common senior fraud analyst skills

SQL, 12%
Fraud Risk, 8%
Fraud Prevention, 7%
Strong Analytical, 6%
Fraud Losses, 5%
Outbound Calls, 5%

Common risk analyst skills

Risk Management, 19%
Risk Assessments, 6%
PowerPoint, 6%
Portfolio, 5%
Data Analysis, 4%
SAS, 3%

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Updated January 8, 2025

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