Risk Management Director Salary
Six-figure salaries are the norm for Risk Management Directors in the United States, with median pay hovering around $117K per year. In the world of Risk Management Directors, total cash compensation can vary between $73K and $198K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $51K and $25K, respectively. Geography and years of experience each impact pay for this group, with the former having the largest influence. Almost all report receiving medical coverage from their employers and a large number collect dental insurance. Job satisfaction for Risk Management Directors is high. Women Risk Management Directors who took the survey just slightly outnumber men. This report is based on responses to the PayScale salary survey.
|Salary||$72,437 - $167,130|
|Bonus||$4,946 - $50,502|
|Profit Sharing||$-0.50 - $25,168|
|Total Pay (||$72,647 - $197,700|
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. (Copyright 2017 PayScale.com)
Risk Management Director Tasks
- Oversee staff operations, business planning and budget development.
- Direct staff in effective and efficient use of programs that promote quality processes.
- Examine and analyze risk data to determine potential loss.
- Plan and direct the risk management program.
Risk Management Director Job Listings
Popular Skills for Risk Management Director
Risk Management Directors typically list a handful of skills they use on the job. 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. It is not unusual for someone who knows Insurance to be familiar with Risk Management / Risk Control as well.
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
New York offers some of the highest pay in the country for Risk Management Directors, 49 percent above the national average. Risk Management Directors will also find cushy salaries in Houston (+9 percent) and Los Angeles (+5 percent). The lowest-paying market is Chicago, which sits 11 percent below the national average.
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Key Stats for Risk Management Director
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