Risk Management Director Salary
On average, Risk Management Directors in the United States earn six-figure salaries ($115K) annually, making for a very well-paid profession. Total cash compensation to Risk Management Directors approaches anywhere from $72K on the lower end to $189K on the higher end; in exceptional cases, this can include more than $51K from bonuses and upwards of $24K from profit sharing. Geography and career duration each impact pay for this group, with the former having the largest influence. The majority of workers are highly satisfied with their job. Almost all enjoy medical while a large number get dental coverage. Vision coverage is also available to a fair number. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 55 percent. This overview is based on answers to PayScale's salary questionnaire.
|Salary||$71,712 - $163,299|
|Bonus||$4,924 - $51,059|
|Profit Sharing||$-0.50 - $24,468|
|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).)
|$71,921 - $188,829|
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.
Popular Skills for Risk Management Director
Survey takers who work as 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, on the other hand, are typically associated with much lower pay. Employees educated in Insurance are typically practiced in Risk Management / Risk Control, too.
Pay by Experience Level for Risk Management Director
Pay by Experience for a Risk Management Director has a positive trend. An entry-level Risk Management Director with less than 5 years of experience can expect to earn an average total compensation of $91,000 based on 21 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Risk Management Director with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $129,000 based on 35 salaries. An experienced Risk Management Director which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $144,000 based on 60 salaries. A Risk Management Director with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $131,000 based on 40 salaries.
Pay Difference by Location
For Risk Management Directors, working in the bustling city of New York has its advantages, including an above-average pay rate. Risk Management Directors will also find cushy salaries in Houston (+11 percent) and Los Angeles (+7 percent). Those in the field find the lowest salaries in Chicago, 9 percent below the national average.
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Key Stats for Risk Management Director
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