Chief Risk Officer (CRO) Salary

Pay for Chief Risk Officers in the United States sits in the ballpark of $162K per year. Total cash compensation for Chief Risk Officers runs from $99K to $320K depending on bonuses that can occasionally exceed $89K and profit sharing that can reach almost $49K. Experience level and the particular city each impact pay for this group, with the former having the largest influence. Male Chief Risk Officers are far more common among survey respondents than their female counterparts, who typically comprise less than one-third of the field. The majority of Chief Risk Officers claim high levels of job satisfaction. Almost all report receiving medical coverage from their employers and nearly all collect dental insurance. Respondents to the PayScale salary survey provided the data for this report.
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$96,778 - $245,026
(Median)
$97K
$160K
$250K
MEDIAN: $162,357
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$110K$220K$330K
Salary
$96,778 - $245,026  
   
Bonus
$3,007 - $89,396  
Profit Sharing
$-0.50 - $49,316  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$98,898 - $319,889  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 199
United States (change)

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Job Description for Chief Risk Officer (CRO)

A chief risk officer usually oversees a region for a company to identify all sorts of risks the company might face or is currently being subjected to. The chief risk officer wants to make sure that company profits are a priority while policies and regulations are being adhered to. Some areas that the chief risk officer will oversee are risks relating to investment, credit, operations, and things that may be happening on the market. The chief risk officer must also be familiar with company policies and the law. The officer should make sure that various departments are complying with these regulations.

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Chief Risk Officer (CRO) Tasks

  • Identify key areas for improvement and recommend changes.
  • Evaluate and report on compliance with governance and financial regulations.
  • Coordinate with senior management to develop, evaluate, and implement risk management policies.

Chief Risk Officer (CRO) Job Listings

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Chief Risk Officers report a narrow range of specific skills. Risk Management / Risk Control and Regulatory Compliance are considered valuable skills and can increase employee pay. Skills that are correlated to lower pay, on the other hand, include Regulatory Compliance and Risk Management / Risk Control. Those with knowledge of Regulatory Compliance tend to be skilled in Risk Management / Risk Control as well.

Pay by Experience Level for Chief Risk Officer (CRO)

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Experience seems to be a major factor in determining the incomes of Chief Risk Officers. Those in the early stages of their career can expect to make around $114K; however, individuals with five to 10 years of experience bring in $151K on average — a distinctly larger sum. The average pay reported by folks with 10 to 20 years of experience is around $189K. Chief Risk Officers with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $206K.

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Experience Affects Chief Risk Officer (CRO) Salaries

Late-Career
up arrow 10%

Experienced
up arrow 1%

National Average
$186,000

Mid-Career
up arrow 19%

Entry-Level
up arrow 39%

Skills That Affect Chief Risk Officer (CRO) Salaries

National Average
$186,000

Risk Management / Risk Control
up arrow 3%

Regulatory Compliance
up arrow 10%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 28 votes.

Gender

Female
24 %
Male
76 %

Years of Experience

1-4 years
7%
5-9 years
8%
10-19 years
43%
20 years or more
42%

Common Health Benefits

medical benefits Medical: 96% dental benefits Dental: 91%
vision benefits Vision: 82% employee benefits None: 3%
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