Underwriting director vs risk manager

The differences between underwriting directors 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 an underwriting director and a risk manager. Additionally, a risk manager has an average salary of $116,072, which is higher than the $109,027 average annual salary of an underwriting director.

The top three skills for an underwriting director include portfolio, underwriting policy and product development. The most important skills for a risk manager are oversight, risk assessments, and project management.

Underwriting director vs risk manager overview

	Underwriting Director	Risk Manager
Yearly salary	$109,027	$116,072
Hourly rate	$52.42	$55.80
Growth rate	17%	17%
Number of jobs	7,091	75,795
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 71%	Bachelor's Degree, 66%
Average age	46	46
Years of experience	8	8

Underwriting director vs risk manager salary

Underwriting directors and risk managers have different pay scales, as shown below.

	Underwriting Director	Risk Manager
Average salary	$109,027	$116,072
Salary range	Between $77,000 And $152,000	Between $84,000 And $160,000
Highest paying City	-	San Francisco, CA
Highest paying state	-	California
Best paying company	-	Credit Karma
Best paying industry	-	Technology

Differences between underwriting director and risk manager education

There are a few differences between an underwriting director and a risk manager in terms of educational background:

	Underwriting Director	Risk Manager
Most common degree	Bachelor's Degree, 71%	Bachelor's Degree, 66%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Underwriting director vs risk manager demographics

Here are the differences between underwriting directors' and risk managers' demographics:

	Underwriting Director	Risk Manager
Average age	46	46
Gender ratio	Male, 60.3% Female, 39.7%	Male, 59.3% Female, 40.7%
Race ratio	Black or African American, 7.8% Unknown, 4.1% Hispanic or Latino, 15.1% Asian, 7.3% White, 65.3% 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%

Differences between underwriting director and risk manager duties and responsibilities

Underwriting director example responsibilities.

Supervise staff of 20-30 credit professionals managing an $80 - $100 million A/R portfolio consistently exceeding aging goals.
Create FHA platform, complete the required test cases to obtain non supervise lending designation.
Review of appeals; concluding and processing the finalization; communicating the adjustments to the original underwriter for educational purposes.
Develop underwriting training on ISO and proprietary forms and guidelines for implementation of company strategy.

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.

Underwriting director vs risk manager skills

Common underwriting director skills

Portfolio, 11%
Underwriting Policy, 11%
Product Development, 10%
Life Insurance, 8%
Underwriting Guidelines, 7%
Insurance Products, 5%

Common risk manager skills

Oversight, 10%
Risk Assessments, 6%
Project Management, 6%
Portfolio, 5%
Strong Analytical, 4%
Operational Risk, 4%