Salaries for Chief Risk Officers in the United States are generous, with average pay above six figures ($157K) per year. Cash earnings for Chief Risk Officers — which occasionally include more than $81K from bonuses and more than $30K from profit sharing — stretch from around $92K to approximately $301K. Location is the biggest factor affecting pay for this group, followed by career length. Most people in this position report feeling highly satisfied with their jobs. Nearly all report receiving medical coverage from their employers and most collect dental insurance. 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. This report is based on answers to PayScale's salary questionnaire.
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$90,543 - $245,600
(Median)
$91K
$160K
$250K
MEDIAN: $157,436
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$110K$220K$330K
Salary
$90,543 - $245,600  
   
Bonus
$4,872 - $80,951  
Profit Sharing
$0.00 - $30,201  
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).
)
$91,569 - $301,442  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 126
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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.

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Pay by Experience Level for Chief Risk Officer (CRO)

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


For Chief Risk Officers, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. New workers enjoy hefty six-figure paychecks when they take on this position — $140K per year is the median for people who claim less than five years' experience. After working for 10 to 20 years, Chief Risk Officers make a median salary of $188K. People who have worked for more than 20 years report a median income of $209K, which is barely higher than the median for folks with 10 to 20 years of experience.

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Experience Affects Chief Risk Officer (CRO) Salaries


Experienced
up arrow 4%

National Average
$180,000

Mid-Career
up arrow 13%

Entry-Level
up arrow 22%

Skills That Affect Chief Risk Officer (CRO) Salaries

Risk Management / Risk Control
up arrow 4%

National Average
$180,000

Regulatory Compliance
up arrow 7%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 10 votes.

Gender

Female
24 %
Male
76 %

Years of Experience

1-4 years
13%
5-9 years
15%
10-19 years
35%
20 years or more
38%

Common Health Benefits

medical benefits
Medical: 95%
dental benefits
Dental: 87%
medical benefits
Vision: 77%
dental benefits
None: 4%
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