Risk Management Director Salary
Risk Management Directors in the United States can expect to earn a very comfortable salary, with average salaries (in the ballpark of $116K) surpassing six figures annually. Total cash earnings of Risk Management Directors range from $75K on the low end to $189K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $50K and $23K, respectively. Residence is the biggest factor affecting pay for this group, followed by experience level. Nearly all report receiving medical coverage from their employers and almost all collect dental insurance. Women Risk Management Directors who took the survey just slightly outnumber men. The majority of workers are highly satisfied with their job. This overview is based on answers to PayScale's salary questionnaire.
Job Description for Risk Management Director
Risk management directors are responsible for overseeing a company's policies and procedures to ensure compliance with local, state, and federal laws, as well as ensuring that the company complies with internal and external auditing.Read More...
Risk management directors must have a strong background in procedures and banking laws and the ability to stay up-to-date with changes in the industry to ensure compliance at all times. They must be able to review portfolios and make risk decisions based on the information provided, and should be flexible in their work routines and be able to adapt quickly to industry changes. They may be responsible for assessing the credit risks and gains of many types of industries and clients, which requires extensive knowledge and the ability to analyze many types of information to make a decision. They are required to present their findings to superiors and make their case for why they should or shouldn't move forward.
At least five years of experience in the field and experience with Microsoft Office programs, including Word, Excel, and PowerPoint, are generally required for this position, and applicants should also have a background in training and be able to train new associates and co-workers.
Risk Management Director Tasks
- Examine and analyze risk data to determine potential loss.
- Plan and direct the risk management program.
- Oversee staff operations, business planning and budget development.
- Direct staff in effective and efficient use of programs that promote quality processes.
Risk Management Director Job Listings
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Popular Skills for Risk Management Director
Risk Management Directors usually report a few specific skills. Most notably, skills in Risk Management / Risk Control, Insurance, Regulatory Compliance, and Safety Compliance are correlated to pay that is above average. Safety Compliance and Regulatory Compliance as skills, however, tend to be associated with significantly smaller paychecks. Aptitude in Insurance tends to also indicate an understanding of Risk Management / Risk Control.
Pay by Experience Level for Risk Management Director
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Inexperienced workers earn around $96K, but people who have been around for five to 10 years pull down a much higher average of $121K. The average pay reported by folks with 10 to 20 years of experience is around $143K. Folks who claim more than 20 years of relevant experience actually report a comparatively lower median income of $127K.
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Key Stats for Risk Management Director
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