Risk Control Officer Salary
A Risk Control Officer earns an average salary of $78,682 per year. Pay for this job rises steadily for more experienced workers, but goes down noticeably for the few employees with more than 20 years' experience.
|Salary||$50,491 - $149,961|
|Bonus||$1,400 - $25,000|
|Total Pay (||$48,479 - $155,470|
Job Description for Risk Control Officer
Risk control officers are specialists who implement strategies and techniques to minimize a company's losses in the fields of business, investments, and insurance. This vital role allows businesses and entire industries to maintain and increase profitability, as well as identify areas of current and future risk in order to prevent and overcome these issues.Read More...
On a daily basis, risk control officers research potential problems and their potential solutions and provide recommendations to reduce or eliminate liabilities to assets. This involves paying close attention to industry guidelines and legal and regulatory standards, as well as enacting plans that adhere to those expectations. In many positions, risk control officers also oversee other analysts and answer to supervisors within their companies.
Risk control officers work primarily in an office during traditional weekly business hours, though odd shifts may also be possible depending on the demands of their industry, the problems they encounter, and the solutions they must put into motion. While they often have home offices, they may also travel to other office locations or travel to meetings, conferences, or other events as needed.
Most in this position have a minimum of a bachelor’s degree in economics, business, finance, or a related field. Advanced degrees are common, as is ongoing education in the field as standards and work environments change and technologies are updated; many risk control officers have seven or more years of experience as analysts. Strong communication skills are important in this position, as is a firm talent for analysis of data in its many forms.
Risk Control Officer Tasks
- Review bank's risk queue for limit breaches and other bank filtering processes and w
- Responsible for production and distribution of daily risk reports.
- Work with credit officers to obtain approval for further processing of at-risk transactions.
Pay by Experience Level for Risk Control Officer
Pay by Experience for a Risk Control Officer has a positive trend. An entry-level Risk Control Officer with less than 5 years of experience can expect to earn an average total compensation of $65,000 based on 19 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Risk Control Officer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $88,000 based on 20 salaries. An experienced Risk Control Officer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $116,000 based on 16 salaries. A Risk Control Officer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $106,000 based on 8 salaries.
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Key Stats for Risk Control Officer
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