Risk Control Specialist Salary
The average Risk Control Specialist in the United States can expect to rake in roughly $67K annually. Job satisfaction for Risk Control Specialists is high. There are more male Risk Control Specialists than female among those who completed the questionnaire, making up 62 percent. Nearly all report receiving medical coverage from their employers and most collect dental insurance. This snapshot results from replies to PayScale's salary survey.
Job Description for Risk Control Specialist
Risk control specialists are responsible for assessing the risk-levels of various pieces of technology.Read More...
These specialists have a range of responsibilities, including: ensuring that product- and service-managers have implemented the correct risk and control framework; assessing risks of products; monitoring risks and finding ways to minimize them; performing thorough reviews of products and systems; working with other employees to ensure that correct procedures are followed; and working closely with technology risk managers in order to solve these problems.
Risk control specialists generally work during traditional business hours, though shifts may vary depending on the employer. Generally, long and stressful hours should be expected and candidates must be prepared to work in a fast-paced, high-risk environment where small mistakes could have serious consequences.
Candidates for the position should be team-oriented and have a strong work ethic, positive attitude, passion for their work, and the will to improve relationships with current and potential customers. A bachelor's or master's degree and three to five years of experience in a relevant field are generally required for this position, and excellent verbal and written communication skills are important to make managerial decisions under pressure; experience with Microsoft Office products is also beneficial.
Risk Control Specialist Tasks
- Assist in preventing, identifying, analyzing, handling, tracking, reducing and controlling risks to customer or company.
- Monitor for fraud, accounts that are nearing their credit limit, and past due accounts.
- Maintain and implement the risk management plan.
- Analyze portfolio trends, score cut offs, loss trends, and portfolio dynamics.
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Pay by Experience Level for Risk Control Specialist
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience is an important factor influencing the compensation of Risk Control Specialists. The average beginner in this position makes around $45K, but folks who have been around for five to 10 years see a markedly higher median salary of $82K. Risk Control Specialists see a median salary of $85K after reaching one to two decades on the job. Professionals who achieve more than 20 years of experience generally enjoy cushy salaries; their median compensation sits in the ballpark of $100K, a plump six-figure sum.