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The differences between trust officers and risk 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 trust officer and a risk manager. Additionally, a risk manager has an average salary of $116,072, which is higher than the $61,493 average annual salary of a trust officer.
The top three skills for a trust officer include real estate, portfolio and wealth management. The most important skills for a risk manager are oversight, risk assessments, and project management.
| Trust Officer | Risk Manager | |
| Yearly salary | $61,493 | $116,072 |
| Hourly rate | $29.56 | $55.80 |
| Growth rate | 17% | 17% |
| Number of jobs | 56,623 | 75,795 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 66% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
Trust officers are professionals who are responsible for administering trust account portfolios of their clients. These officers are required to develop business relationships with their clients by responding to the request of their clients and facilitating internal service coordination to resolve issues. They must handle activities that are associated with personal or corporate trust while providing consultation on matters related to finance and wealth. Trust officers usually work in the financial industry and report directly to a manager or head of a department.
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.
Trust officers and risk managers have different pay scales, as shown below.
| Trust Officer | Risk Manager | |
| Average salary | $61,493 | $116,072 |
| Salary range | Between $30,000 And $121,000 | Between $84,000 And $160,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | Connecticut | California |
| Best paying company | Neuberger Berman | Credit Karma |
| Best paying industry | Finance | Technology |
There are a few differences between a trust officer and a risk manager in terms of educational background:
| Trust Officer | Risk Manager | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between trust officers' and risk managers' demographics:
| Trust Officer | Risk Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 48.1% Female, 51.9% | Male, 59.3% Female, 40.7% |
| Race ratio | Black or African American, 7.8% Unknown, 4.1% Hispanic or Latino, 15.0% Asian, 8.4% White, 64.4% American Indian and Alaska Native, 0.3% | 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% |
| LGBT Percentage | 11% | 11% |