Chief Risk Officer (CRO) Salary

Chief Risk Officers in the United States take home an average $162K annually. Including potential for bonuses and profit sharing — peaking near $99K and $60K, respectively — total cash payment to Chief Risk Officers can bottom out near $99K or peak near $334K depending on individual performance. Career length is the biggest factor affecting pay for this group, followed by geography. Generally, women make up less than a third of all Chief Risk Officers who answered the questionnnaire. Nearly all report receiving medical coverage from their employers and almost all collect dental insurance. Job satisfaction is reported as high by the vast majority of workers. This report is based on responses to the PayScale salary survey.
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$97,353 - $248,178
(Median)
$97K
$160K
$250K
MEDIAN: $162,084
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$120K$240K$360K
Salary
$97,353 - $248,178  
   
Bonus
$3,052 - $99,159  
Profit Sharing
$-0.50 - $59,598  
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).
)
$99,488 - $333,728  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 190

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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 who responded to the survey indicated only a few skills that they use on the job. Risk Management / Risk Control and Regulatory Compliance are considered valuable skills and can increase employee pay. At the other end of the pay range are skills like Regulatory Compliance. Regulatory Compliance and Risk Management / Risk Control are also commonly seen together.

Pay by Experience Level for Chief Risk Officer (CRO)

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


Experience is an important factor influencing the compensation of Chief Risk Officers. New workers enjoy hefty six-figure paychecks when they take on this position — $120K per year is the median for people who claim less than five years' experience. Chief Risk Officers claiming one to two decades of experience make an estimated median of $192K. People who have worked for more than 20 years report a median income of $208K, which is barely higher than the median for folks with 10 to 20 years of experience.

Related Job Salaries

United States (change)

Experience Affects Chief Risk Officer (CRO) Salaries

Late-Career
up arrow 10%

Experienced
up arrow 2%

National Average
$189,000

Mid-Career
up arrow 25%

Entry-Level
up arrow 36%

Skills That Affect Chief Risk Officer (CRO) Salaries

National Average
$189,000

Risk Management / Risk Control
up arrow 3%

Regulatory Compliance
up arrow 14%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 27 votes.

Gender

Female
24 %
Male
76 %

Years of Experience

1-4 years
6%
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: 4%